99% Of Business Owners Get This Wrong – And It’s Destroying Their Bottom Line – Here’s What It Is
Customers are essential for all businesses. Duh, right? How does your business acquire customers? And what kind of customers should you be focusing on? This is the most common area where businesses fail. It’s also the reason for low margins and excessive owner stress.
The Standard Way
Let’s first discuss how businesses find customers and where they focus their efforts. You must find the right buyer for your product or convince them that it is worth their time. This is how businesses work: By looking for buyers and offering something valuable – a discount or excellent customer service, etc.
The ‘Standard Way’ is short-sighted.
This approach has a problem. The vast majority of your market isn’t ready to buy now – at least not in the short term. Many people are content with their current situation and must be convinced that your product is worth the investment. This is especially true for products and services that are more than four figures. People must think about the product, research it and then make a decision to purchase. If you tailor your message to impulse buyers, you will lose a lot of potential business.
Your standard marketing messages will not be heard by the majority of your market because most people don’t think about buying. You can think about this: If you sell furniture, zero-interest financing is not appealing to the segment of your market not interested in purchasing a new sofa.
Target Future Buyers – A Better Way To Market
Better is to reach out to people who aren’t ready to buy and convince them to. This is known as education-based marketing.
Nearly everyone conducts research online before purchasing anything. Everyone travels at different speeds from the ‘first contact to the buyer’ stage. What impact could your business have if you were able to facilitate research among people in your market and give them the information they need?
This shift in positioning can change the way you do business. This shift in positioning transforms you from being a product or service provider to one that is an expert in your field. You provide answers and help people decide whether to buy. If you can do this and show the actual value of your product or service, who are the most likely prospects to buy from you? You!
Plugging holes in your funnel
What do people see when they visit your website? You probably have links to your services, contact forms, free quotes, and other helpful information. These links are only relevant to current customers.
You need a way to fill the gaps in your funnel to capture leads, inform them about your service and then convert them into customers. You can do this by using a lead-capture tool that offers something in return for the prospect’s email address and name. This “something of value” must be relevant to the larger market beyond the current buyers.
You will see the power in changing your approach to customer acquisition. When you concentrate on future buyers’ needs, you can capture them, educate them about the value of your product, and then sell your service to them. This will allow you to build a strong brand and attract more buyers.
This approach can be used in literally any business; whether you’re business-to-consumer, B2B, service-oriented, or physical products only, it doesn’t matter. You’ll be miles ahead if you take the time to educate prospects.