You've finally found it...
The proverbial "one-stop-shop" for everything digital marketing -- designed for entrepreneurs and marketing professionals to find that one thing we've been scouring the web for...
The Marketing Edge
We all do it. Day in and day out, we search endlessly for that one blog post, video or tweet that will give us even the slightest advantage over our competitors.
Truth is, there are only three ways to actually grow a business:
- Increase the number of customers
- Increase the average transaction value per customer
- Increase the number of transactions per customer
This is called Customer Value Optimization (CVO, for short) and it's how companies like McDonald's, Amazon and countless others went from one person operations to multi-billon-dollar behemoths.
Everything you will ever learn about digital marketing should tie back to CVO. If it doesn't, you're probably learning the wrong thing!
Let's start by going over an action plan for the first one -- Increase the number of customers.
Your audience passes through five stages on their way to becoming your customer. Those stages are:
- Passive Web Surfer - Doesn't know of your company's existence
- Content Consumer - Discovered your company via published content
- Lead - Engaged with published content and requested more via a "Lead Magnet"
- Customer - Purchased a product from your company
- Loyal Customer - Buys whatever products you have to sell and recommends your company to all their friends
The goal of digital marketing is to enable each of your customers to reach the next stage.
Passive Web Surfer to Content Consumer
Let me tell you the soul-crushing truth about doing business online...
People don't go online to buy from your company!
There, now that we have that out of the way let's talk about what they actually do.
People go online to better themselves.
Commit that last sentence to memory. It will serve you well in all of your marketing efforts.
Think about it. When is the last time you thought,"I know! I'll fire up the computer and go buy that product that that random company I've never heard of is selling!" Never...right?
That said, we want to create and share content that takes our target audience from the state they are currently in (stuck, agitated, etc.) to the state they want to be in (happy, healthy, rich, etc.).
We do this with content!
Whether it's blog posts, videos, images or podcasts, you want to be creating content to attract passive web surfers to your website.
This will transform them into content consumers -- your business will become a source of information that provides what they need to undergo their desired transformation.
Content Consumer to Lead
In order to become a lead we need a content consumer to indicate that they're interested in solving the problem that our product solves and we need some type of way to contact them -- usually their email address.
This is done with a "Lead Magnet" -- something we give away in exchange for our content consumer's contact information.
Lead magnets can be a report, checklist, video or even a physical product.
The idea is to offer something that will solve another problem for your target audience. Since you've established goodwill by creating a desired transformation with your free content, you're now in a good position to ask for something in return for another transformation -- their email address.
With email address in hand, you now have a lead -- someone you have a direct line of communication with that has interest in what you have to offer.
Lead to Customer
If a lead is someone that opens up the line of communication with you, a customer is someone that opens up their wallet!
The transformation from lead to customer is simply a matter of selling something that creates -- yup, you guessed it -- another valuable transformation.
Your first sale will usually be a low-dollar offer that is the next step up from your lead magnet -- this is called a "Tripwire Offer."
The Tripwire Offer can be a discount on a consumable (re-orderable) product, a complimentary product -- like golf balls for a golfer, or a sample of a larger product -- like one video lesson from a video course.
Think of the Tripwire Offer as the gateway drug to the rest of your company's products. Once your lead purchases and consumes the Tripwire they should want to come back and buy more of your stuff.
Which leads us to...
Customer to Loyal Customer
If a customer buys from you once, a loyal customer buys from you OFTEN -- and talks about your company with their friends and peers!
To turn a customer into a loyal customer we use "Core Offers" and "Profit Maximizers."
Core Offers are the product(s) that your company really wants to sell -- the ones that really pay the bills! In the last section we discussed selling golf balls to golfers as a Tripwire. Well, if golf balls are the Tripwire then golf clubs would be the Core Offer.
Profit Maximizers, on the other hand, are something that you can add on to the Core Offer to make it more valuable. Maybe the same golfers who purchased clubs would be interested in a golf bag!
Once someone becomes a customer we want to sell to them often -- providing valuable transformations every step of the way!
Okay, now it's your turn!
We've talked A LOT about what it takes to take a person from being a passive web surfer to a loyal customer raving fan.
It's up to you whether or not the journey continues.
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You can leave now, continuing the endless quest for that "one more tactic" -- and likely never find it.
The choice is yours...
Red pill? Or blue pill?