Do you want to know how to attract more customers? Do you want to connect with them in a powerful way?
If so, keep reading.
Developing quality customer relationships is essential for a thriving business. Finding them is challenging enough. But getting them to fall in love with your brand is even more difficult.
In this article, you will learn:
- What farmers know that can help you get more customers
- What your customers want that you probably don’t have
- How your free offer makes you more money than any other
- Three benefits of every irresistible offer
Here’s the biggest obstacle that stands between you and the customers you want:
People are being bombarded with thousands of marketing messages every day. They all make big, bold promises. Some deliver, most don’t. This marketing saturation has made consumers skeptical and cynical. They don’t trust anyone, including you.
To overcome marketing saturation, you must first show people how your business can help them uniquely. Then, you must build their trust in you—before they buy.
As hard as this may seem, premium brands attract new customers that buy again and again. Read on to find out how a premium brand strategy will help you attract the customers you want.
Customers Acquisition Is Like Farming
Each marketing activity is like a seed planted in the ground that will produce a crop. However, since you never know which seeds will yield fruit, you must sow as many as you can.
At first glance, it may sound as though I’m suggesting that marketing is a numbers game, but I’m not.
Successful farmers know something that many business owners don’t.
More seeds will grow when you prepare the field.
Most business owners think getting in front of as many people as possible is the key to hitting sales goals. This is true to some degree. But they are missing an essential piece of the customer acquisition equation.
Many businesses are not prepared to convert leads when they get them.
Large and small organizations are so focused on getting leads that they forget the preparation work that must be done to ensure success. As a result, they end up wasting resources on marketing. Meanwhile, they fail to make the most of each opportunity. Furthermore, they have no plan to maximize revenue for each new customer.
What Is a Premium Brand?
Create a Customer Journey to Increase Profit
When you find a prospective customer, the ideal goal is to sell them your premium product or service. Not only will you make more money, but your premium offer is the one that delivers the most value. It is you at your best (at least, it should be).
But not everyone will buy your premium offer right away. Some people won’t see the value of it, and others don’t need it. When business owners sense this, they usually present a lower-priced solution instead.
Sometimes this lower-priced offer is a compromise—fewer benefits at a lower price. Other times, it is a limited supply of a product or only one part of a service.
And why not? After all, selling something is better than nothing. Right?
There are a few problems with this approach, among them:
- you have de-valued your premium product or service by compromising your offer
- in the customer’s mind, you have given them what they want, and they no longer have an incentive to buy more
- the customer may end up disappointed with the scaled-down version
But, there is a better way to manage prospects who don’t buy your premium offer upfront. It starts with having an offer to accommodate prospects in each step of the customer journey. Contrasting offers for customers with various wants or needs provide a benefit while leading them to another sale, usually at a higher price.
Free or low-priced offers introduce people to your brand. These are people who have never heard of you before and aren’t familiar with your solution. Mid-level offers are for those with specific problems. These offers come with an opportunity to upgrade. As always, your premium offer is still available to anyone who wants it.
To illustrate how this works, I will use an example.
Let’s say you sell tires. Some of your customers will only buy cheap tires. Others may need a replacement tire and will only buy one or two at a time. Finally, there are others still who will wish for the best tires available.
You could run a promotion for a low-priced oil change. People that come in for this low-cost service would get credit toward a new set of tires. This offer gives them an incentive to buy from you when they are ready.
If someone only wants one or two tires, you could make them a limited-time offer to get four tires for the price of three. But, of course, adding a free oil change if they buy sweetens the offer.
In the meantime, you can stay in touch with them through an occasional email. Ongoing contact gives you a chance to run special promotions or educate them on other services you provide. You could also sell a membership that customers can use to get oil changes or discounts on repairs.
The possibilities are endless, but the point is that you should build a bridge between offers. Each one should deliver a benefit and encourage people to buy a higher-priced offer.
Keep in mind that there must be a significant contrast between each offer. Having two that are similar—if only in appearance—will hurt sales.
For example, let’s say you are a service provider with a $900 package and a $1,500 package. If you don’t make the difference evident between the two, people will always think the $900 one is the better value.
Creating a customer journey can be a complex process, so take it one step at a time. Don’t try to do too much at once. Instead, focus on your flagship and free offers first, then build others around them.
How Free Offers Increase Revenue
One day, my dog Rusty started licking his feet and wouldn’t stop. I didn’t think much of it at first. Finally, I broke down and took him to the vet.
It turns out he had a food allergy.
I went online and found a website that explained which foods caused allergies in dogs. As I began to scan over it, a pop-up form appeared. It asked if I would like to have a list of ten recipes, each made especially for dogs with allergies. The recipes were free. All I had to do was provide my email address.
In the marketing world, this free list of recipes is an example of a lead magnet. A lead magnet is an offer with real value but costs nothing. It is free on one condition: the prospect must give the business an email address to get it.
The lead magnet strategy is standard marketing that most of us have seen by now. These types of free offers have always existed. Before the Internet, free samples and free trial subscriptions were popular lead magnets (and still are).
The goal of the lead magnet strategy is to acquire the prospect’s email address and stay in touch with them. Over time, a percentage of the people on your email list will become customers.
This strategy works well as long as customers value the free offer.
A lot of business owners are afraid to give away value for free. I know because I used to be one of them. But you only get one chance to make a good first impression. So, your first offer must be strong.
Think about it: if what you give away for free is not good, most people won’t consider buying anything.
Unfortunately, many business owners don’t create a lead magnet that is valuable enough to generate interest from the target audience. Others have a great lead magnet but don’t use it to lead prospects to the next step. Instead, your lead magnet should generate more interest in your paid offers.
Remember that people aren’t likely to jump from a free offer to a high-end product or service. Leveraging a lower-priced offer bridges the gap.
How to Attract Customers With an Ideal Customer Profile
Now let’s explore how to attract customers using an ideal customer profile.
It is impossible to hit a target if you don’t have one at which to aim. Having an ideal target will help you stay focused on exactly who you should be looking for.
Vince Lombardi, Hall-of-Fame NFL Head Coach
“Perfection is not attainable. But if we chase perfection, we can catch excellence.”
There is no such thing as the “perfect” customer. But if you pursue “ideal” customers, the overall quality of your customer base will naturally improve.
The ideal customer profile should be created with the brand’s identity in mind. To do that, you must know who they are, how they think, and what is important to them. Unfortunately, most businesses only go surface-deep when profiling their customers, relying only on basic demographics like sex, age, income, and net worth.
Instead, you should consider delving deeper into your ideal customer’s mind using psychographics. These are behavioral characteristics and relate to the customer’s buying preferences.
Knowing your ideal customer better than anyone else helps you connect with them better than your competitors.
Now, let’s look at a two-fold approach to profiling that will help you discover who your ideal customers are.
If you want to exceed your customer’s expectations, you must first know what they expect.
To do this, use the “pain-solution” method popular among marketers today. First, start with the problem your product or service solves (solution). Then, identify the group of people who have that problem (pain).
This group of people becomes a target customer segment.
Remember, consumers don’t care what you think they need. They only care about what matters to them. Many businesses want people to know how great they are and how much they care about their customers. But people don’t buy from a company for these reasons.
Instead, they buy because the business has something they need or want.
- What do people want more than anything else that you can help them get? To help with this process, think about what a typical day looks like for them.
- How do their problems make them feel, physically and emotionally?
- What are their frustrations?
- Where do they spend a lot of time?
- Where do they look for solutions?
PRO TIP: The degree of your customer’s need or want will help determine how much you can charge for it. This is a must if you want to sell your products and services at a premium.
It is tempting (and easier) to make assumptions in this step. For example, you may think you already know the answers to the profiling questions above. But honest feedback and insight from your existing customer base often tell another story.
Many times, you will uncover needs and wants you never knew existed simply by asking them. This information will also give you a better idea of the people your business is best qualified to serve. However, in the process, you may discover that you have been targeting the wrong audience.
How many of us would stay in business even if we never made a dime?
Probably not many.
While putting your customer first is critical, you must also think about your goals. So, you must consider your business goals as you develop an ideal customer profile. After all, your business must make a profit, or you won’t stay around long.
The customers you pursue must align with your business goals. Check your current customer base and write down the names of your top five or ten customers. They should also be the ones who provide a large percentage of annual revenue.
What common characteristics and traits do they have?
These people are your best customers for a reason. This should give you some insight into the types of prospects you want to target going forward. Again, don’t rely on surface demographics. Instead, look for people who also match the psychographic profile you created in the previous step.
Build a Bridge
You must position your product or service as the perfect solution for your customer. Premium brand products and services provide multiple benefits. You can do the same for yours.
List all the benefits of your product or service. Think of as many as you can.
Then place each benefit into one of the following categories:
Functional benefits represent what the product or service does. As an example, a hammer drives nails in the wall.
Technical benefits refer to the features or specifications of a product or service. For example, a hammer made with exceptional craftmanship is higher in quality and will last longer.
Emotional benefits give the customer a special feeling when engaging with your brand. For example, a hammer made for builders may provide the user a sense that their carpentry skills improve when they use it. Emotional benefits are more difficult to develop but are much more powerful buying motivators.
A product or service that delivers all three types of benefits will have an advantage over competitors. But, unfortunately, most businesses haven’t developed benefit depth for their offers. They may have one or two, but not all three.
The process for customer acquisition I have outlined in this post is simple, but not always easy. Remember the following:
Prepare the fields. Spend time creating your customer journey. Be ready to meet every prospect in each phase of the buying process. Then, have lower-priced offers that provide value and leave customers wanting more.
You only get one chance to make a first impression. For that reason, your free offer must be great, not just good.
Create your ideal customer profile. Perfect customers may not exist, but the best ones do. This profile keeps you looking for customers that will help you achieve your goals.
Make sure every offer delivers three types of benefits. These are functional, technical, and emotional benefits. Remember that emotional benefits are the most powerful.
Remember, we are here if you need help. Feel free to email me at firstname.lastname@example.org with any questions.
Until next time,
More Branding Insights
By Chris Fulmer |
Learn more about brand strategy.
Are you struggling to connect with your audience? Do you want to show them how you're different from competitors?