The marketing strategy is different, your go-to marketing plan is varied, and your channels are diverse depending on whether you are truly looking to earn the trust of a new client versus gaining appeal from a new consumer. So before you define a budget, consider who you are marketing to first!
There is a difference between a consumer, a customer, and a client.
A consumer is defined as someone who uses your product, such as adding creamer to their morning coffee. However, consumers can also be motivated when they are shopping.
A customer buys your product — ‘Shopper marketing’ focuses on the customer at the point of purchase, like adding a pack of gum to your order at check out because it’s on sale for $.99. That’s a last-minute appeal.
A customer is not always the consumer.
A client is synonymous with a customer, but for an entrepreneur or business owner, it’s the loyalty that is earned and the repeat business that makes someone a “client” vs. “customer.”
The truth is that consumers or customers really don’t care about your product. What they do care about is your brand! People buy “brand name” products for a reason. They buy for the quality of the product or experience, social acceptance, and image/reviews. People don’t just buy products to buy products anymore.
Consumers who connect emotionally to a brand have a 306% higher lifetime value, stay with a brand for an average of 5.1 years instead of 3.4 years, and recommend brands much more often (71% vs. 45%).
The consistency of the message is essential. Start with defining your value proposition. Your value proposition should tell one of the specific benefits that your business can offer and simply why you are different (competitive differentiation).
What words do you use that differentiate you from your closest competitors? We’ve often heard, “I don’t have a competitor.” You most certainly will always have a competitor. Make a list, and start with those words. The statement should be why you can add more value and why you can solve their needs or problems better.
Use everyday language when writing your value proposition because you will want to know it inside and out. It should be easily understood and quickly delivered. Know your target audience and write to your target audience, including a primary and secondary audience.
Remember, your value proposition is not a tagline for your brand. In business, a tagline may convey a purpose or a key aspect of your service or product. A tagline has little to do with what makes your brand successful or why you should buy it. Taglines position your brand and what you stand for, not what you do. Taglines are short and catchy like Nike’s ‘Just Do It.’ To develop an ‘aligned’ tagline, you will already have a sound marketing strategy (with a value proposition). The tagline will come… and represent how you want to be perceived.
2024 is here. Make it the year to build your brand and develop a customer experience that will be one to remember.
A business that starts off building their brand will have an advantage over those that do not. Know what people need, care about, and want. Then, your business can solve problems and make an impact.
This blog was written and originally published by Paulette Duderstadt.
A business that starts off building its brand will have an advantage over those that do not. Know what people need, care about, and want. Then, your business can solve problems and make an impact.