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three explanation why advertising is the brand new income

September
22, 2020

9 min read

The opinions expressed by the entrepreneur's contributors are their own.

Sales have long been seen as the driving force of business – how should they, right? If you run out of sales, revenue, or cash flow, your business no longer exists. So it makes sense to celebrate the completion of monetary transactions. This is the real sign that your business is doing well.

At some point, however, the concept of selling was idealized and over-celebrated. This idea that if you could force the "opponent" into your proposal, you would have won is just the tip of the iceberg.

The desire to sell has driven a peaceful process without coercion or psychological manipulation into a process with slimy tactics and strategies. The consumer becomes shy and retreats deeper into their shell of comfort and safety, leading to inaction. They continue to do what is convenient because they are afraid of change and remember companies that have been oversold and underserved in the past.

Given the number of ads, sales pitches, and transactional incentives we experience every day – we see around 5,000 ads every day according to the New York Times – it's no wonder we're seeing lower conversion rates from cold calls and door openings. after door and reach cold.

Mix that with the fact that in the age of COVID, cold selling in person is next to out of the question. How can you get conversions and sales for your business without being intrusive or selling your product?

Turn to marketing. Here are 3 reasons why marketing is the new revenue and how to increase conversions in your business. Without marketing, there would be no sales. In fact, the sale should have been primarily credited to marketing.

1. You can use marketing to regain consumer confidence

Selling has always been an integral part of doing business. Selling has always been a function of building relationships.

You will hear these principles often in entrepreneurship. Things like "Your network is your wealth" and "Sales is the lifeblood of your business". And while most of these statements are true, they are only facts of the equation of business and life.

When sales are credited for the work of great marketing, people are taking advantage of the wrong idea.

We all buy out of trust. Can I trust that if I give you my money, I'll get what you promise, whether it's a cheeseburger, car, or Siamese cat? Sufficient trust must be built to overcome the risks of falsehood, deception, or the consequences of these results. Do I trust this is made from safe ingredients? Will this car actually last another 100 km "easy", as the seller says? Is This Cat Purebred?

If you can gain the trust of your potential customers and they need your product, they will buy it.

How is trust earned?

By learning about a person's nature through interactions and relationships. By stacking little dominos of reliability and delivering what you say you will do when you say you are going to go. Because of this, sales reps are given credit cards with unlimited budget and must treat their prospects like royalty so they can show up on time, deliver a good time, build relationships, and treat them as irreplaceable.

Related Topics: How To Earn Your Customers' Trust

In this whole equation, where does marketing end and where does sales begin? And how do we use marketing to regain consumer confidence?

As a society, we have already gone through a massive digital revolution. The normalization of social networks and apps in daily life has increased sharply in the last 5 years. Because of this, we have new channels to market and sell.

If you've been on LinkedIn for more than 5 minutes, you've seen spam sellers try to get your attention and sell you on a "discovery call on X". This is an ugly example of idealizing sales and not understanding the power of marketing.

Marketing is the process of building a relationship with your customer. It's the process of building trust and letting them know about your service. When you really have a viable proposition, and you devote enough time and energy to marketing it, you are suddenly asked about the contract, bill and invoice.

They will ask you where to buy.

How do you ultimately earn back the customer's trust? Show them that you are there for them. Show them through customer experience, customer journey. By showing them how much you care, they are showing you how much they care about their dollars.

How do you tactically market to gain trust?

Post consistently, train and create value. Make small changes in their life before they buy your product. Talk to them as if you had read their journal or lived in their hearts and minds. Relate to their struggles and give them hope of a better way. Be fun and relatable. Use memetics to advance the culture and create an unspoken connection.

Create a plan that will ultimately show the customer you care about how much they do. As simple as that.

How does it continue after the purchase?

2. Relationships are more powerful than transactions

Increasing a customer's lifetime value is often overlooked in order to increase sales. The first time you understand that getting her in the door is more difficult than keeping her there, your world will change.

When you have a client list, you really have a bank of leads right in the palm of your hand. Chances are you're not a one-trick pony. Your business likely has the potential to get a number of things done and one of the things that got you where you are was to focus on that one thing. After you have created systems and processes to serve your customers in this facet, there is likely another desire or need.

Use your customer list for market research and to gain valuable insights into which product or service will ultimately improve and build on your current offerings. For example, a credit repair company is also likely to offer financing types and loans. It's a natural customer journey. You focus on building your credit to use it. Why not invest in partnerships, certifications, or business partnerships that allow you to expand your offering in a logical way?

Related Topics: How to Increase Customer Lifetime Value and Increase Profit

Connect with your customers on the go. We all love opportunities and possibilities, especially if we are already invested in the trip. Take this opportunity to introduce them to the idea that the journey doesn't have to stop when it's over.

Avoid telling them that there is more work on the other side by highlighting the process and making it a bite-sized and digestible journey to go on together. Just as airlines use every flight to encourage you to fly with them again, and to thank you for traveling, it is important to do the same with every customer trip within your company.

Related Topics: 4 Ways With & # 39; Customer Journey Optimization & # 39; sell more

When you show the customer that you are invested in their success, and that you did the bushwacking to get them there faster, safer, or more efficiently, they will feel how much you care about them. "People don't care how much you know until they know how much you care." Show them how important it is to you by breaking what you know about their pain, struggles, and life desires into a transformative customer experience. You are sure to retain your customers longer and increase their quality of life in various ways. Not only will they be spending more on you, but they will also be sharing their customized experiences with friends or family members as it will bring changes in their lives.

For example, consider monthly recurring revenue models as a bonus source of income that you can use to extend the customer experience in real time. Think Netflix, Stitchfix, or even the Entrepreneur Insider model for customer care.

3. Sales and marketing have always been linked

I learned from George Bryant that relationships are at the heart of all marketing. Essentially, salespeople who get customers and eat them are actually marketers. They create relationships and help inform potential customers about what your company can do. They are essential parts of the business and drive sales. But they employ marketing tactics that drive sales.

How do you use these marketing techniques to increase sales in your company, especially in the digital age?

Examine what other companies are doing to have a direct relationship with their customers. For example, Disney took a giant step towards creating a monthly recurring revenue model and taking control of their customer relationships when Disney + was launched.

As marketers and business owners, we never know which marketing asset or channel will reach the consumer and make the purchase decision. We only know what happens when we earn their trust and prove that our product works through various psychological biases. Ultimately, as long as we maintain a relationship with them, they will make that decision. Instead of pushing for sales like a telemarketer, consider stimulating sales smoothly through heartwarming marketing techniques that show how much you care about them.

Marketing really is the new sales. Use your list to do in-depth market research, create educational content around their vulnerabilities, learn what new products your customers want, and ultimately get greater lifetime value from your customers.

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