If you want to sell your product or service, you need an effective Marketing strategy. When a company has a strong marketing strategy it means that has done a great job in engaging and influencing its customer’s buying process.
But how do you influence your costumers? First off, you need to study your audience to build and maintain positive relationships with them. To do so, you will have to analyzing customers’ current and long-term needs. Only this will make you understand how to develop satisfying goods and services that match the
Customer value is the net value between the benefits that a product or service gives minus the costs of the same. We can visualize it using a very basic formula:
Customer Value = Customer Benefits – Customer Costs
For instance, if you are hiring a marketing agency, the benefits could be the visibility you will gain, insights on your customers and higher sales that your brand will have at net of the costs – the money that you will spend, the risk of failure and the effort spent.
Let’s take a look in details at a number of marketing strategies in which a business can add value and influence its customers.
1. Adding value by Content
Be able to create engagement with your customer is key. To do that, you need to set a strong content strategy that speaks about the story behind your brand and the values that it embraces. Buying process is not rational but emotional in the first place. So your contents need to create a connection with your clients and create a unique value that they can’t find anywhere else. To do that, ask yourself “with this post, article or ad I am sharing, am I creating a content that is relevant, actionable, informative and engaging? Can my prospects consider it “valuable”?
2. Adding value by Branding
Be able to build a certain image into your products through name association and presentation awareness is crucial. This doesn’t apply only to company but also to people. And it’s on this baseline that influencers can now drive millions of people to buy or not a product or service. They have been very good at building their own brand. At the same way, a company has a strong branding
strategy when it is able to maintain product and corporate recognition among
the people and its products are a must-have brand name for customers who will be willing to pay a premium price. If you want your company to stand out in the eyes of consumers, you need to play differently or offer something new. Only in this way you will develop a particular image. If your costumers are willing to pay more for your branded product rather than no-name product, you nailed it. It is because in addition to purchasing the product itself, customers buy something else – the association with the brand, certain image, feeling, social status, etc.
3. Adding value by Product Features
Another way to make your brand unique is to make your product or service different from competitors’ by focusing on specific features that will make you more recognizable. A brand differentiating in this way will work to create a Unique Selling
Point (USP). The reason why product or service differentiation can lead to sales success is because making a product distinctive it also make it stand out in consumers’ perception. Hence, customers will be buying something unique that no other company sells. — For example, a smartphone from .
4. Adding value by Convenience
Companies using this strategy will be able to create goods or services that help customers do things more conveniently – easier, faster, simpler.
Convenience is usually achieved thanks to new technologies that ease or enhance the buying experience and improve the usability. It may also be embedded into physical features as restaurants layout, if ease the access to the premises or — For example, online shopping at , or online banking made easy with Revolut
or food format as Vapiano.
If you work on your brand right pulling the right marketing leverages, you will be able to create that added value for customers, which is the additional amount of money that customers are willing to pay you on top of what costs your brand. They are willing to sustain this addition to get something done that they are not willing to or not able to do by themselves. Hence, customers are willing to pay much higher price for greater value. The more you get done for your customers, the more they will be willing to pay you.
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