With the high variety of products in the market today, with the significant number of developing brands and firms that hit the market every single minute, and with the whopping sum of over 45508 companies listed in stock exchange across the globe, it has become even more competitive and difficult for companies to maintain their sales momentum, distribute labels, or to successfully launch new products to the market square.
As a matter of fact, according to Harvard business school, professor Clayton Christensen reveals that each year more than 30,000 new consumer product are launched and 80 percent of them always end up failing. The only way for a company to drive more customers, is by having an effective brand awareness and a better service recommendation.
Statistics shows that 84 percent of people purchase a product because of a referral – even if they do not directly know the person. Recommendations are extremely important, which is why prospective clients turn to Yelp or Amazon for reviews and rating before trusting a brand. As it is, hardly would anyone want to pay for 1 star product service.
Below therefore are 5 basic strategies to an effective brand discovery in 2018:
1. Discover the overriding market needs:
It’s not just enough to discover a list of what the market needs, you should discover the exact overriding needs that the market lacks. Analyze how your products can be of help to their situation.
In this advanced age, it’s certain that people do not buy products, instead they buy benefits. What benefit would they derive from buying yours?
So, start by recognizing your potential customers and by offering them the list of all the benefit they will acquire from using your product or services. However, be honest with whatever information you’re going to give your customers. Study shows that 91 percent of customers would shop 10x with a trustworthy and honest brand than with a dishonest one.
2. Be unique in exhibition:
Exhibiting your company in a new dimension can be a better way to showcase your brand to many people in your target market. Most known brands today spend a lot on exhibiting their product. In fact, Coca Cola is said to have spent a whopping 4 billion U.S dollars on advertisement and exhibition just in year 2016.
Organizing a competition and distribution of gifts to customers is a great way to call the attention of the masses. Since 70 percent of people claim they love free gifts, you can use this to get to their heart and within a very limited time, they tend to get used to your brand and have no choice than to purchase it more often. How – you say?
For example, Email Hunter, one very effective channel I know and use to discover most potential clients email, always offer a free 100 slots to their registered customers per month. Oh! Wow, I got registered asap, since registration is free. Lo and behold, I got so addicted to this email tracking channel that even when I exhausted my 100 free slots within a week, I gracefully upgraded to their starter plan of $39 to enjoy even better features.
3. Get blogging, and use content marketing to create effective brand awareness:
Using content marketing to increase your brand awareness is a way of becoming a thought leader in your industry. With the present growth of IOT, a lot of people are getting whatever they want through the internet. As at june 30 2017 we have 3,885,567,619 internet users in the world.
Content marketing will not just build your relationship with customers, it’ll lower the cost to acquire customers, give you standard, international and social brand recognition as well as serve you a broader channel to sell your products.
If you are really concerned about how to boost your brand awareness, then blogging could be a gem for you. Study shows that having a blog helps B2B companies generate 67 percent more leads in a month than their blog-less competitors.
4. Strategically develop a strong competitive advantage:
The relationship between price and product has a huge impact on how customers will accept a product. You need to realize you’re not the only one in your industry, that’s why you’ve to develop a way to overtake your competitors and boost your brand’s recognition.
So, start by giving discount on your product, showing them the benefit they will acquire from getting your product or services, which they don’t have access to with your competitors. For example, some auto transport services use their cost service differentiation, by giving discount on their services and providing their customers with cheap ways to ship a car; which in return grants them a strong competitive edge over their competitors.
Meanwhile, the click, whirr, buy story explains how too much reduction in price can as well affect your sales. So be sure to balance things up.
5. Optimize your customer service operation:
A lot of organizations doesn’t show much concern to this aspect. Generally, customer service department is the pillar of any profit-making organization. And having a well man customer relationship management, CRM could mean the difference between a successful business and a doomed business.
Study shows that bad customer service cost US companies a whopping amount of $41 billion dollars in a year. Maybe you’ve been thinking why your company have low performance sales since the beginning of the season, the question is, how effectively do you manage your customers relationship?
When customers give negative feedback or comments, what do you do? Do you ignore it, or see it as a gem to win the heart of every customer who decided to lodge that relevant complain?
Do you know that for every single customer who lodge a complaint, there has been 26 others who decided to remain silent? And 91 percent of customers who are non complainers, leave quietly to share the bad news to the world – which would in turn serve a negative effect on your brand.
Your product may be the best in the world, your company might offer the best service in the world, but unless your brand is discovered and the hearts of customers is won to your side, your sales will never hit the rise button.
Whatever seems right, whatever seems pleasant, whatever seems ethical, to grant your product/service quality exposure in 2018, Do just that!
Thanks for reading…….
Author: Daniel Moayanda
Dan. is a young strategist, motivational writer and public speaker. He provides entrepreneurs with success strategies and backs it up with the right motivation needed to explore. He also writes about finding a way out of everything in general!
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