Business Distilled

3 ESSENTIALS FOR A BUSINESS TO HAVE A CHANCE TO SUCCEED

rim light around bishop, knight & rook

Business to Business, Business to Consumer or an enterprise with any other descriptor won't change these requirements. They are as certain as sunrise. They are:

1) A business must have relevant audiences to hear its messages. Some audiences, like customers, are more valuable than others. Their value is based on their relevance to the company's offering and, of course, the cost to reach the audience. Relevance is a function of need (problem), ability to purchase (means), and potential appreciation of the solution.

There are basically 2 ways to assemble an audience. First, rent them from another entity, i.e. search ads and social media. Second (and better), build your own proprietary list by converting those from the rented audience to subscribers. We need to do both, but for strategic and economic reasons, an enterprise should become more reliant on its proprietary audience than a rented audience.

2) A business must have messages that develop favor and trust in its brand and products. There is no message without an audience. The less relevant an audience or message is, the lower the value of the message to the audience and our businesses.

Business messages are not just ads. They are the essence of every point of contact with the marketplace which includes people at every level of marketing and sales funnels and our customers. Messages originate with employees, contractors, rivals and customers who have contact with the target marketplace. They communicate with conversations, the look and feel of our websites, printed materials, packaging, unboxing experiences, etc. that others in the target market encounter. Messaging must be managed carefully.

Developing favor happens when we show how the product will improve the state of their being. Problem-solution outperforms features-benefits. The raison d'etre in commerce is having a product that solves a problem that someone is willing to pay for. Discussing product features makes the discussion about us. Discussing problems and solutions is about them. Business should always be about them. Discussing them develops favor and trust.

Trust is gained when claims are plausible, the user experience on the website is favorable, customers validate the product, and consistency runs through everything from the company logo to the customer experience.

3) A business must have processes to convert audiences to repeat customers. The processes are ever evolving. The ability and willingness of management to pivot quickly are essential to having efficient processes. The processes start with creating awareness and converting it to interest, desire and action. We often refer to the processes as lead generation, lead nurturing, and customer experience.

If customer creation for your business is not what you think it should be, start with a review of these to find the point of failure. If customer creation for your business is at or above what you think it should be, review these to find out what is succeeding and plan to protect it while you do more of it.

CATEGORY: CUSTOMER CREATION
Tagged with: #audience, #messages, #businessprocesses, #leadgeneration, #leadnurturing, #customerexperience

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