5 Strategies to Create Value for Customers

Marketing is such that differentiating your products and services is crucial to business survival.  Customers must feel that they are acquiring a value that cannot be had from any other business or brand but yours.  The emphasis for businesses must be on creating value for their target customers while seeing to their own profit requirements. How then do businesses capture and create value for their target customer groups … the following are five recommendations; 

1.    Provide the product or service you do best and most profitably – Whether it’s a product or service offering ensure that your processes are efficient and cost-effective.  This however is only the first part of value – all marketing efforts must aim to retain customers through consistent marketing strategies that keep the customer satisfied and build long-term loyalty.

 

2.    Ask for and use customer feedback – Customers love to give feedback but more importantly most potential customers would rather the honest feedback of current customers than your marketing material.  Provide outlets for and encourage customer feedback.  Use this information to inform how you proceed with current and future products.

3.    Create ‘win-win’ situations – Customers love that feeling of satisfaction that they get after a purchase has been made.  Likewise, your business loves the benefit of that customer’s business.  That’s a win-win situation.  Whether it’s price, location or quality, ensure that your marketing communicates the value of the offering all the while highlighting the product/service benefits and how the customer’s life will improve from the purchase.

4.    Make the encounter a full customer experience – Creating value for customer is not just about the sale, its about the experience leading up to the purchase.  Create a marketing strategy that makes it easy for your customer to move seamlessly through the buying process. 

·         Provide content that is easy to find, read and understand

·         Have customer service staff on hand to answer questions whether via phone or online

·         Respond to customer queries in a timely manner

·         Follow-up post purchase

5.    Build a VIP customer community – Social media has made it so easy for businesses to create spaces where their customers can hang out, share experiences and communicate with the business.  Dedicate a section of your social media platform or website to especially repeat customers.  Not only will they feel special but your business will also benefit from the ideas of a core set of customers.

Increase your business’ visibility with these 6 marketing strategies in 2021

If customers are unaware of your business’ existence it is quite unlikely that they will buy from you or use your service.  At this very moment, there are many businesses both large and small jostling for the attention of the varying customer groups.  Additionally, consumers are still distracted by the many events happening around them, both locally and globally.  Small businesses in particular, will therefore have to identify cost-sensitive ways to increase their visibility and remain top of mind.

The following are 6 marketing strategies to increase your business’s visibility in 2021

1.   Solve a customer problem related to the current situation

Customer needs are changing and new challenges are emerging.  In bringing new products and services to market, it is important to solve a pressing problem for the customer.  This will not enhance the business’ reputation, capture new customers for the business, increase profits and above all provide a product or service that gives peace of mind to the customer.

2.   Use influencers

Influencer marketing has continued to grow in significance over the past few years.  Influencer marketing is a form of social media marketing that uses people who have an expert level of knowledge or influence in their field.  In selecting influencers for your brand, ensure that the individual is knowledgeable and can connect with the vast majority of your target audience.  This ensures that the brand message is communicated clearly with the target audience. 

3.   Use mobile

According to CNBC, an estimated 2 billion people currently access the internet via their smartphone only.  This equates to 51% of the global base of 3.9 billion mobile users.   There is every likelihood that your target customer has a smartphone and will access your online information using their device; ensure that your website is optimized for mobile.  It should also be optimized for speed or else you may lose the customer.  Websites on mobile must also be readable, functional and pleasing to the customers’ eyes.

4.   Start a podcast or YouTube channel

Podcasts are becoming increasingly popular because it provides a platform for brands to connect directly with their target audience.  If a podcast is not already part of your brand strategy, here is an opportunity to get first mover advantage in your local jurisdiction.  More advanced markets such as the US already has 144 million Americans listening to podcasts.  On the other hand, YouTube channels have increased in popularity particularly since the pandemic.  Consider this, over 2 billion logged-in users visit YouTube each month, and every day people watch over a billion hours of video and generate billions of views. More than 70% of YouTube watch time comes from mobile devices. YouTube has launched local versions in more than 100 countries.  When will your brand join the party?

5.   Get found online

SEO, PPC and getting listed online will be crucial to your business’ visibility in 2021.  SEO or Search Engine Optimization helps your website to rank higher for searches based on relevant keywords.  PPC or Pay-Per-Click advertising is a great way to get ahead of your competition.  Target your advertising to platforms on which your interest groups, locations and offerings are well-defined this was you can track ROI.  Getting listed in relevant places will also increase your visibility.  Even though many persons (4.66 billion) are online, there are still 2.34 billion (based on the 7 billion estimated world population) who may use the business directory; ensure your business information is listen wherever your product or services may be required.

6.   Word-of-mouth advertising

Sounds old and cliché doesn’t it? But guess what, potential customers are more likely to trust the word of your existing customer than any piece of marketing material that they see online or off.  I cannot tell you how many products and services I’ve tried based on the word of someone who has used that product or service.  So encourage your customers to tell their friends and family about your offerings, especially when they have something great to say.

3 ways to AMPLIFY your marketing in 2021

The year 2020 established the importance of marketing to small businesses in particular, especially as it relates to positioning the business or product, clearly defining the offering, identifying the ideal client and method of reaching said clients and ensuring that the product solves the client’s problem. 

In 2021, it’s time to level-up!

In 2021, the concept of Marketing will be new.   New markets and new customer groups will influence the introduction of new product and service offerings. 

Some of the usual suspects must take pride of place in order for businesses to compete successfully; Research, Differentiation, Content Marketing, Use of Video, Mobile and Social media, will continue to influence customer buying habits.

The idea of push marketing will remain important but pull marketing tactics will take on new meaning.  Businesses must show customers how their products and services will make their lives better.

It will also be the year in which new demographics, customer and income groups will emerge.  The idea of disposable income will diminish among low-income customers and those customers must be approached in new ways.  Personal marketing and more aggressive marketing tactics will now be commonplace.

The following are three ways that businesses can amplify their marketing in 2021:

1.    Identify solutions for emerging client needs – The COVID-19 pandemic has exposed a whole new set of needs for varying customer groups.  As small business owners, you are perfectly positioned to identify those needs and provide solutions.

2.    Re-define conventional marketing tactics – Get personal with marketing experiences.  It’s been said many times before and it bears saying again, ‘think outside of the box’ when marketing.  Don’t shun traditional methods but incorporate them in any marketing plan you plan to execute.

3.    Improve customer experience – Customers may no longer be interested in or be impressed by gimmickry which would pass as attraction marketing in the past.  Improve the customer experience by providing solutions that work.  Hosting demo sessions (online) and giving customers DIY solutions will be useful.