Are you a business owner that’s tired of the tried-and-trusted marketing formula of discounting goods or services to reach out to new customers? It’s time to get creative and strategic about your marketing approach.
When you’re in the thick of the day-to-day operations of your business, it can be hard to dedicate the energy and flair to reaching out to new demographics. We’ve put together some golden tips for time-poor entrepreneurs to land new prospects on the hook and turn them into customers and eventual brand advocates.
Spell out the benefits by entering comparison charts and tables
It can be difficult for brands to set themselves apart on their websites. Especially if you don’t make it clear why new customers should choose your services over competitor products. Comparison tables and graphs to show what you offer and where competitors fall short can be a powerful way to incentivize consumers to act.
In fact, there are many comparison sites that brands can partner with to showcase their goods and services, particularly if they outperform similar offerings. MoneySavingExpert is a renowned portal for financial services products, Compare the Market has become the go-to place for utilities and insurances, while OddsChecker is the leading hub for promotions in the fledgling US sports betting market.
Incentivize brand advocates with referral programs
Referral programs are an exceptionally effective way at not only reaching new customers, but re-engaging with existing or lapsed customers too. When you design a referral program, you’ll need to market this to all previous customers within your customer relationship management (CRM) database.
It can help to rebuild and reconnect with lapsed consumers and also encourage them to spread the word about your brand in return for commission or alternative rewards such as free purchases, delivery or exclusive access to new goods or services as they’re released.
Design a loyalty program that’s not always about deep discounts
Loyalty programs can not only encourage existing customers to convert again, but they can also catch the eye of prospective customers within your target demographic. Today’s consumers are savvy. They don’t accept the first deal that comes their way. They often take the time to research and investigate the benefits of all businesses and service providers. Designed properly, a loyalty program can be more attractive to new customers than a deep one-off discount. If it can give repeat benefits instead of a one-off sugar rush, this can set a brand apart from others seeking a quick buck.
Novelty promotions can sometimes spread word of mouth
Another attention-grabbing maneuver brands can make is to go down the novelty route. MarketingWeek says that novelty value is being overlooked in favor of a more conservative approach to marketing, but that doesn’t mean it can’t work for your business. Novelty promotions can be more eye-catching than even the deepest of discounts.
It could be a unique gift or deal inspired by popular culture or a brand’s own ethics and values. Anything that can generate the kind of word-of-mouth marketing needed to turn intrigued first-time visitors into first-time customers. Novelty doesn’t necessarily have to mean something overtly garish or shocking. It can simply be something new and exciting. Something that’s out of the ordinary and perplexes and intrigues consumers in equal measure.
Consider publishing free materials or courses
We’ve already touched upon the savvy nature of today’s consumers. Given that consumers now want to conduct their own research into products and services, it can be beneficial to provide them with free material or courses that can add immense value.
Downloadable, digestible free content that educates, motivates and inspires people to act can be more powerful than even the catchiest of slogans. This free material demonstrates a sense of trust in your brand, whilst cementing it as an industry authority focused on providing solutions and not solely your bottom line.
Think of the above as a starter for ten. Something to get you thinking about how to use incentives to stand out from the crowd. Before you select your desired incentive, ensure it aligns seamlessly with the behaviors you want it to elicit among your target demographic. If you don’t know, take the time to understand about the behaviors of your target customers, as well as their desires and pressure points, to help you build a plan with first-time conversions firmly in mind.