The is one of the most magnificent, insightful, easy to understand articles on Digital Marketing I can attest to
If you do anything Big Think Marketing related this week… have a read of this
Give yourself 15minutes today to read it over and study it, and think about the application of it for your business. I feel you will be one step ahead of your competition
I've made a very short summary of the article, but I empower you to read it!
Customer Value Optimization
1. Traffic
At the top of the Funnel we have traffic. Traffic is how we get users to see your company, brand, service
- Old school traffic might be; call centres, advertising billboards, publicity, advertorials, TV Commercials
- New age traffic for the digital age is blogging, youtube vlogs, or paid traffic like Adwords / Facebook Ads.
Essentially the elements (paid or otherwise) that drives people to your business website or to call
You need to have some sort of traffic source to your business other than relying on referrals.
2. The Lead Magnet
The lead magnet is a piece of content that you can create to entice your target customer to trade their information (email, tel no), in exchange for your content. It can come in the form of a ebook, How-To guide, Checklist, Cheatsheet, 101 series etc.
The better the content the more people will opt in to your lead magnet.
Ask yourself, "what is the best piece of content that I can create that my prospect?".
The root of this stems from… how well do I know my customer, how well do I understand their problems, hopes, wants, and desires. The lead magnet should be all about solving that core problem for your target market
Read my story on FREE water to better understand how this work
3. Nurturing
In the digital marketing space they use the term “Drip Marketing”… to drip feed content to your audience with this idea of nurturing them through your funnel with the aim to eventually make "your offer". And at this stage the person will be better primed to accept.
From here, depending on your business you can go two ways. If you are a digital business with digital product you want to get them on the value ladder. Or the buying ladder. Offer something of low value to them, an ebook, physical book, for under $20.
The idea here is that once someone is a buyer that probability of them buying again is higher. Getting them on the ladder is crucial key. Also, it plays in the psychological principle of “Consistency”, where people generally want to be consistent with the actions they take. If they buy once, they are likely to buy again.
“let buyers to buyers”
If you're in the physical space (a consultant of services), you would do the same nurturing sequence, but your offer might be to set up a discovery call with your prospect.
4. Creating advocates
Now it’s up to you to do your job. The better service, you provide, the more raving fans you will create.
Some ideas:
- Hey, I’m happy to provide you with a X discount if you agree to be a case study for me.
- Incentives referrals – ask your clients if they know of 3 other people that could benefit from you services, in exchange for a gift card / free service.
- Create a blog post documenting how you helped your client solve their problems and what the result was.
5. And then the Return Path
The goal of the Return Path is to have frequent, strategic communication with your buyers and prospects that cause them to buy again and again.
How to keep your customer or prospect engaged with your brand. Could be newsletters, social media, more lead magnets and tripwires, new programs etc.
Good luck.. and happy selling!
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