Authenticity Vs The Algorithm: Why Money Can’t Buy Customers

Every business needs customers to flourish. In today’s competitive environment, retaining customers is more critical than ever. Starting a relationship with a potential buyer begins with spreading the word about your products or services, and brand.

If a customer does not know who you are or what you have to offer, they cannot choose to purchase from you. Marketing particular products are important, but if that potential customer has not made a connection with your brand, they may overlook your business when making the decision. You should consider the stages a shopper goes through before purchasing. This is referred to as the marketing or sales funnel:

Stage 1: Awareness

In the beginning, the customer knows your brand, however, they are only aware of your products or services.

Stage 2: Consideration

During this phase, customers can learn more about your brand and determine if they are interested. They may evaluate your company as they think about purchasing.

Stage 3: Conversion

A customer chooses your brand and makes a purchase. This is where the purchasing decision is made.

Stage 4: Loyalty

Once a customer has bought from your organization, the goal is to continue to build a relationship with that customer. If they are satisfied they may purchase again.

Stage 5: Advocacy

This is the stage when a customer has become committed to your business. They may talk about your brand with friends, family, and others that may be interested. They might also write positive online reviews to further promote your establishment.

A customer cannot purchase without first moving through the earlier stages. This means companies should make brand visibility an important tool. There are several ways to achieve brand visibility. This includes using social media to heighten awareness and obtaining media coverage about your product and/or services. Consider publishing articles, blogs, and other material that may attract prospects.

Businesses must consider that investing in brand awareness is critical to establishing new customers. Even if there is not a strong result on investment in terms of conversions. By publicizing your organization, more customers may be attracted to purchasing from you which could ultimately result in better sales. To stand out in the competitive marketplace, brands need to think outside the box. For more information on how to create better exposure, check out the infographic below.

Infographic created by Beantown Media Ventures