We must understand what works in today’s marketplace, and how best to tap into it. No wonder Dina El Tabey, a marketing guru remarked that, ‘Marketing is about continually trying new ideas and refining ideas’.
Remarkably, the idea of intentional marketing works!
People trust recommendations
The hardest part of marketing is creating awareness and credibility with your products or services. This is taken care of when someone is referred to you by a third party that they trust. Who do your prospective customers trust the most? They are customers who are delighted about your offering.
You can improve your referral results by priming your clients with a cue to know who you want them to refer to you. For example, we ask our clients, ‘Who are three other business owners you know who are looking to take their business to the next level?’
So, the ideal time to ask for a referral is the moment after your client has told you how much they benefited from your product or service. Sometimes, all you need for your next business growth is just a mention.
People trust recommendations from those they already trust. When we adopt the fundamental concepts of referral marketing and how it leverages the natural human inclination to recommend products and services to friends and family, we win.
The Psychology of Referral Marketing:
There is a psychology behind referral marketing. Referral marketing is a powerful strategy that leverages the psychology of human behavior to generate new business through existing customers. Why would a customer actually tell someone else they bought something from you?
There is a reason why people refer others and why recipients act on those referrals. Have you thought of it? Understanding these motivations can help businesses tailor their strategies for better results, or help you design more effective referral programs.
It’s critically important that we understand what motivates referrers and referees. Referral marketing often taps into emotional connections by emphasizing the positive experiences of existing customers and the benefits their friends can gain from the product or service. Emotional connections drive decision-making, and also the fear of missing out (FOMO) drive people to take action.
Be intentional about your marketing communications
To effectively implement intentional marketing, you will need to be intentional about your marketing communications. After determining the scope of your marketing, you have to create a clear impression that you want to leave the market with.
This will also include positioning your product or service to create the right perception that you want the market to have about you.
The concept of positioning is for you to sell your product or service with the best form of communicating what’s in it for the buyer like no other. After all, all that exists in the world of marketing are perceptions in the minds of the buyers or prospective buyers.
You might need to examine the demography. Who are they? Are they younger or older generations, and what’s their preferred means of communication?
Then, you will need to decide the best media and platforms to engage these targeted markets to amplify your brand’s reach, visibility, and credibility.
For instance, an older demography may best be reached through more traditional means while you’ll need to use more agile and digital means to connect with the younger generation.
This knowledge would help you to better position your solution to this audience in a way that will produce the desired outcome
…To be Continued
Tony Ajah is a Business Growth Strategist, and the author of BUSINESS SENSE, and ON BECOMING AN ENTREPRENEUR.
He maintains a personal blog, where he shares proven business ideas and principles for SMEs.
