Marketing has been around for many, many decades yet many business owners still get the driving principle behind any good marketing strategy — that is to create value. If people don’t see any use in your product or service, no one’s going to buy it.
It doesn’t matter if you think it’s the best invention in the world. If no one knows what it’s for because you’re doing a terrible job showing it, it’s not going to sell.
It’s easy to get distracted by the shiny new platforms on the internet. You might even be more focused on the competitor and wondering why they’re doing so well and you’re not.
Scratch all that. There is only one thing you need to know about creating any innovative marketing strategy, and that is to always, always provide value. So how do you do it? Here are just some of the ways.
1. Value is not just in your product
The value of your brand is not just in your product. It can be in how you process your payments, your mode of delivery, or how easy you make it for customers to buy again. Think of companies like Hello Fresh. They’re a meal delivery service with a twist. The twist is that you get to cook delicious food in your own home without the hassle of going to the grocery store.
So what other value is there here? Plenty actually! It saves people time because their service includes portioned ingredients. It caters to certain diet restrictions like vegetarian, low-calorie, family-friendly, etc. But best of all, it allows people to enjoy that rewarding feeling of having cooked one’s own meal.
Now going back to your business. How can you provide more value to your customers that’s beyond your product? Is your customer service available 24-7? Do you have flexible payment options? Do you take returns with no questions asked? Each business is different so you need to think of ways to make your customer’s life easier without compromising your own.
2. Go the Extra Mile
Put yourself in your customer’s shoes. If they were to look at your website and social media pages, would they know exactly what value you provide? If the answer is no, you need to go back to the drawing board and reconfigure your marketing strategy.
There’s such a thing as demand generation marketing and this is a way of creating awareness of your company’s product and service so that customers can make an informed decision. Think of your customer as a baby. You’re not going to blast them with a call to action to buy your products. It’ll only drive them away. What you want to do instead is nurture them. Teach them. Guide them along the way so that when they are ready to make a purchase, they’ll choose you.
It may seem like a risky move on your part but it actually doesn’t take a lot of time. You only need to create these resources once and when it’s done, you can just duplicate it and provide it to all the potential customers that go to you. Customers will appreciate it, maybe even spread the word to their friends, and pick you over the other brand.
3. Provide more value to your most valuable customers
Our most loyal customers should receive special attention. They provide more value to your business than any new customer to take some time here. Think of ways to reward your existing customers. Give them a discount on their next purchase.
Add a gift card.
Even a simple thank you note makes a difference.
People like getting rewarded and this is how you can provide more value to them in a way that brings more returns to your business.
In what ways have you implemented this strategy to your business? Share your thoughts in the comments below.