When somebody finds value in your product or service, how do you show your appreciation? Most businesses will happily give you a small monetary gift, but what about something more valuable?
Give them the digital equivalent of a ‘warmth hug’ by letting them know exactly how much you appreciate their business. The key is to find a way to measure the value they provide, and when you do, give them a little pat on the back (and maybe even some wallet-warming discounts)
But what if they don’t feel like you’ve ‘earned’ their business? In that case, you might have to resort to more traditional methods of marketing and try a bit harder to win them over.
Showing mutual respect and appreciation between businesses is an important aspect of solidifying a business’ value to the consumer. When a business does something meaningful for a company, that company has the option to either pay it back or return the favor. Either way, both parties win.
There are multiple ways this could look. For example, you could offer special deals for customers who buy from your website. Or, you could give them free merchandise as a way of showing how much you appreciate their business.
Giving businesses a way to earn money from your appreciation is an easy way to show the monetary value they provide. Whether you give them a discount on their next purchase, or you simply pay them back with interest, your business is benefitting. And if they’re not, you can always take this up with them directly.
This is a win-win for both parties. After all, they get the cash and you get the credibility.
3. Social Proof
When a business or brand establishes itself as ‘good’ or ‘great,’ customers will begin to see that as a stamp of approval from their peers. When this happens, even if a business is not as good as they claim to be, their reputation will still hold weight. This is why brands like Pepsi are so vigilant about establishing themselves as financially ‘sustainable’ because they know one day someone might decide to sue them or divest because they no longer see value.
By providing customers with social proof that your product or service is ‘good,’ you’re giving them the opportunity to decide for themselves whether or not to patronize your business. If they discover your product or service is not as good as you claim it to be, you’re losing out on a very valuable consumer. And it’s not only about money.
If you have a limited amount of a particular product and want to make sure your customers know it is ‘exclusive,’ you could give them the option to purchase it at a discounted rate. Or, you could give them a free sample (with a note that it’s a limited time offer).
The key is to find a way to monetize something that is usually given away for free. Essentially, you are rewarding them for coming back.
5. Dwindling Consumer Base
With an ever-growing amount of competitors and other options for consumers, gaining a foothold in the market can be difficult. If your business is dependent on a specific group of consumers, especially if that group is shrinking, it can be hard for your business to remain afloat. This is why it is so important to develop and maintain strong consumer relationships. Having a solid base of happy, engaged consumers who value your product or service will help you weather any storm.
These consumers are ‘sticky’ because they are invested in your company and its products. They are also easier to re-engage with because you have something to offer that is valuable to them. The key to retaining and expanding this audience is to understand what they want and how to give it to them. In other words, you need to be listening.
6. Brand Awareness
Keeping your customers aware of your brand’s existence is an important aspect of building a strong foundation with a particular consumer base. You can do this through traditional means like advertising or word-of-mouth, or you can take advantage of the power of the internet and online platforms.
For example, you could set up a blog where you regularly post about your company, its history, and what it stands for. Or, create videos describing your brand’s mission and vision. Or, host a Q&A with subject matter experts about your company, its products, and industry.
The key is to make sure you are always putting out content that is relevant and interesting to your target audience. This will help establish your brand among customers and potential consumers and keep them coming back for more.
If people are looking for certain information about your business, how do you want them to find it? You could use your blog as above, or you could set up an FAQ page or send out emails answering frequently asked questions. You could also develop video tutorials about your products and answer common customer challenges directly in the video.
The key is to have someone responsible and authoritative for addressing customer questions. This will give your business credibility and make your customers feel as if they can trust you.
To feel good about yourself, you need to be surrounded by people who believe in you. One important way to gain validation is to find allies among other businesses. Whether you form a strategic alliance with a larger company or work with a group of brand ambassadors, having the confidence of others can boost your own self-esteem.
When you have allies, you have the opportunity to gather endorsements and build credibility by sharing information about your business with the world. Having a formal agreement to disclose certain information about your company can be an important aspect of building credibility with customers.
However, even those who aren’t associated with your company can give you credibility and validate your business by liking and sharing your content. Your fans and followers are an important part of your social proof, as are your genuine allies.
When people discover your business is a reliable and trustworthy source of information and products, they will begin to see you as an authoritative expert in your industry. Your customers will begin to look to you as someone who can be counted on for quality products and information. Having credibility is an important aspect of establishing a brand, and it is also a fundamental element of marketing a business effectively online.
To have credibility, you must be seen to be acting in the best interests of your customers. One important aspect of this is being transparent about the business and ensuring that customers know all the details about what you are doing and why you are doing it. If you are not transparent about how your business works and there are any doubts about whether or not you are being genuine, your customers will immediately begin to lose trust and confidence in you. When this happens, your business can quickly crumble.
In our digital world, security is one of the most important aspects of any business. If you don’t protect your customers’ personal details, you could put yourself in a vulnerable position. This is why it is important to put measures in place to protect yourself and your business from cyber-attacks.
You could use things like two-factor authentication for your online accounts and SSL encryption for your website to secure your business online. You could also set up a robust password policy and update security measures frequently to ensure the safety of your customers.
In summary, the key to effective online marketing is to find a way to show your customers why they should continue doing business with you rather than your competitors. By establishing a strong connection with your audience and developing a clear communication channel, you will have a much greater chance of persuading them to act in your favor.