So you want to stand out from the sea of sameness. When you stand out for the right reasons – more revenue and profitability flow your way.
Yes, in most industries, your business and its competitors think, act and communicate roughly the same way.
How do you differentiate your business to drive up your return on investment, grow revenue, increase profits and drive up total shareholder returns over the long term?
In a world where your
- competitors can easily copy your product and service features, content, and even your people,
- undercut your pricing in the blink of an eye,
- where it is easy to fade into irrelevance,
- dragging away your ideal buyers that never come back,
Start at the start
It helps to understand the buyer’s journey: The game’s name is to gain your ideal buyer’s Attention, Engagement and Sell More.
Many frameworks break down the journey into more bite-sized steps. They broadly are attention, acquisition, activation, retention, revenue and referral (AAARRR).
The focus is measuring and improving conversions at all funnel stages in each of the six steps.
At the core is testing hypotheses and learning from the results.
These are some examples
- Where are the leads and customers coming from – social, organic, or paid? Which platforms?
- Are there industry or competitor benchmarks available to compare?
- Dwell time – how long are they staying – why?
- Which is performing better, website traffic or landing pages?
- Are you testing rewards and gifts with purchase strategies – what is the impact?
Strategic level
Business trust, credibility and purpose are vital to accelerating growth.
How do you handle a business with a reputation that is poor or even nonexistent?
Strategically building your business’s credibility is essential to gaining more leads and getting customers to stay and buy.
Conversion at each of the six steps in the funnel significantly declines if ideal buyers feel they do not trust your business.
You will never be friends with someone you do not trust – you will never buy from a business you do not trust first.
Building trust, credibility and purpose at speed is critical in improving conversions and financial performance.
Some steps include,
- Creating unique and insightful online content is a way to build your brand credibility.
- Working with industry influencers,
- Adding customer reviews to your digital assets,
- Strategically leveraging word of mouth can have a quick impact,
- Leveraging brand equity from news and media outlets can have a significant and immediate lift – we often see a lift of 100x for increased trust and credibility in the first thirty days,
The key to improving is capturing the correct data and scientifically testing the results. Two data sources reporting the same outcomes often produce different results – it’s part of the tangled web of data.
15 plus Omnichannel marketing and selling is the average – are you there yet?
The more channels (omnichannel) a business deploys, the bigger the market share gains: McKinsey.
Today growing businesses deploy all of the following and more – email, in-person, phone, zoom, website, landing pages, organic social media multi-platform, apps, web chat, google search, paid marketing- across multi-channels,
At the core of testing and strategy is – why.
Why should ideal leads convert to the next step? If they are not converting – the offer may not be enough.
At the centre is – why should your ideal buyer only buy from your business rather than your competitors?
It is gold – what is your business why?
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