Taking chance out of customer acquisition

Have you been working on the first two steps to take chance out of customer acquisition and create a continuous stream of customers?

Customer acquisition requires a strategy, a strategy that you control, not the customer. It starts with creating a compelling marketing message and then uses that message across a range of promotional media. This blog provides the third step; converting the leads that message to sales.

If your message is indeed compelling the prospect will have mentally "bought" before they pay but you will need a sales conversation to ensure the sale takes place.

Do you have a 'sales conversation'

A sales conversation is a process where you listen to the prospect and allow them to build on their problems and concerns before offering your solution?

The opening conversation is your opportunity to create interest; to show the prospective customer that you are committed to giving them what they want out of your relationship. Be sure to keep your focus on the customer. The one thing to make clear in the initial conversation is that their needs and problems are your principal concern.

Repeat your compelling message while exploring further what prospective customers wants, and why they think that your product or service can give it to them? The more you know about what your customers want and need, the better you will be able to meet those needs. But it is not only you personally who needs to understand that.

Have the right message from your sales people. Asking "Can I help you?" has only two answers, 'yes' and 'no', and the chances are it will be the latter. Just add one word - "How" as in "How can I help you?" Or, "I see you are looking at lawn mowers. Are you after a petrol or electric model?"

These will lead to an entirely different response. They start, not stop, the conversation.

There is one more element you will need.

Make it easy for them to buy

You may or may not want to offer credit but the more options you can give the customer to pay the more likely they are to buy.

The list of widely used payment options is not long. On-line you can use credit and debit cards: Visa, Master Card, American Express and Diners, or PayPal. Offline you have EFTPOS for the various credit cards, direct debit plus of course cash or cheque.

I continually scratch my head in bewilderment when I find businesses preferring to save the transaction fee on credit cards rather than make the sale. You haven't saved anything if you have lost the sale.

If it is harder to do business with you than with your competitors, guess which way the customer will go. And you not only lose the customer, you lose their repeat business. What is "saved" in transaction fees will be dwarfed by the lost opportunities.

So to take chance out of customer acquisition three steps you need to take are:

  • Create a compelling message for your target market;
  • Use that message in a number of different ways to increase the number of leads you get; and
  • Improve the conversion rate from the leads that message creates.

If you would like to discuss how to implement any of these please contact me.

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© Copyright 2011 Adam Gordon, Profits Leak Detective

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