Creating and running a business in this cut-throat and highly competitive world is no easy task. Customer perspectives have changed considerably over the last few decades with advancement in technology and transformation in lifestyle. Though we can assume that brand loyalty still exists to an extent, access to information and multiple choices have significantly diminished the chances of allegiance. Every product launched or every business started needs to carve a unique and distinct space in the industry and in the minds of customers to effectively reach their target audience. Entrepreneurs need to approach their businesses keeping in mind the changing needs and personalities of their target audiences. This essentially means that there is a need for a drastic change in the way of marketing and business strategies.
Business coaching and mentoring serves to throw in innovative, yet workable ideas and sensible strategies to expand the client or customer base of any organization. The first step in that regard is lead generation. In this era of social media and digital marketing, there are numerous possibilities to generate valuable and workable leads in business. References, unique advertising and marketing strategies, networking etc, are the order of the day to build a successful and enduring venture. As part of our business coaching in Melbourne, Strategic Business & Marketing Solutions (Aust) has been successful in identifying, building and delivering such class ideas that have worked immensely well for our clients in lead generation and sales conversion. The video below is one such triumphant effort of ours in expanding and enriching the client base of the featured business venture.
Here is a look at the behind-the scenes processes and efforts that went into making this a successful strategy.
The first step in creating and building any good strategy is the analysis of the situation in hand. We set about to clearly comprehend the nature and workings of the business. By analysing various aspects of the business like its current processes & procedures, financial status, costs and expenses, client base and type and its future goals with respect to target audience, finance and profits and business development, we came to a conclusion on the boundaries and ceilings within which our strategies should operate while bringing maximum visibility to the business.
The product and services involved in every business will certainly dictate the strategies and business ideas for a firm. In the present case for a firm that is built of providing financial advices to customers, it seemed appropriate to base the business strategy on cash and money. The idea was to provide an introduction for the business / client among the target audience while ensuring that it was alluring enough for the audience to attempt to understand the services in the first place.
The best way to appeal to the masses is to play on the benefits they are to accrue as a result of their interest and participation. For a financial advisory firm, a competition / draw seemed appropriate to heighten the interest levels of the audience.
There is always a great response to personalised and direct messages than impersonal advertisements. Normal marketing and clichéd advertising techniques run the risk of being overlooked by customers as they are being bombarded by numerous such messages every single day. A personal direct call to action on the other hand is a much more effective technique in grabbing the eyeballs of the audience. With this thought in mind we set about creating a personalized video where the client talks about the draw and the reason for such a draw himself.
This personal video gives a much authentic and genuine look to the strategy as opposed to an unknown and unconnected face talking about the benefits of the draw.
Apart from ensuring that the message was personal, we also wanted to ensure that the client shows enough care and understanding about the need for privacy and the respect for the time of the audience. This led to the inclusion of the statements on spam and privacy protection through entry validation and avoidance of unnecessary emails on the client’s part. The video also works well to avoid distractions and loss of interest by limiting the time to less than two minutes which is pretty much the attention span of any audience.
The fundamental idea behind this strategy is to build more connections and customers. While the competition draws in audiences, it gives everyone a basic understanding of the business and improves brand identity. It also serves to generate leads as not only interested audiences participate in the draw; they also spread the word to their family and friends to benefit from it. Word-of-mouth is a much overlooked, yet excellent lead generation strategy and this video works to do just that. If you would like to expand your business through such innovative and novel techniques, reach out to Strategic Business & Marketing Solutions (Aust) and our business coaching and mentoring experts will work out specific strategies to bring in more business to your venture!
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