BrandKnew September 2013 January 2013 | Page 24

Offer unexpected thanks. Have a “customer appreciation day” where you do nothing but send thank you notes (digital or hand-written) to your best clients, letting them know how much you value their business. Ask for referrals. Faithful customers are usually quite happy to refer you to their friends, family members, and colleagues who might benefit from what you have to offer. But you have to ask. And the best time to ask is right after a customer has had a great experience with your brand. Offer an incentive for referrals to show your appreciation like a discount, a finder’s fee, or a gift. These incentives might cost you a little money, but you don’t have to spend a lot. Plus, think about what you gain for your investment. If you get new loyal customers out of it, your return on investment is high. What About When You “Don’t” Have Bragging Rights? If you’re thinking, “In all honesty, my brand’s products and services aren’t that significantly different from competition,” does that mean you should pack up and call it quits? Of course not. Here are just a couple of ideas of how to differentiate your products and services as existing, lowcost branding assets to help increase your bottom line. “Create” a meaningful point of difference, and market your brand based on that differentiation. One of my favorite cartoons shows a picture of a young boy behind a lemonade stand that sports a sign: “25 cents for lemonade. Comes with free Wi-Fi.” Now, that’s what I call differentiation! Offer something extra to make your brand stand out. Completely new customers are important, too, but the customers already buying your brand are the lowesthanging fruit when it comes to brand-building. Be sure to go for the gold. Of course, you shouldn’t lie about your brand. Instead, get creative. Consider copy machine paper – a “commodity,” right? Not to Double A, a copy-paper brand that makes it clear that its paper comes from farmed trees, differentiating itself by capturing the attention of customers who are interested in protecting the environment. 2. Your Products or Services – Develop a “Superiority Complex” Another powerful way to add differentiating value to your brand is to think about the “experience” your brand offers. The coffee industry is a good example of what I mean: Everybody wants bragging rights, but when it comes to your brand, do you honestly have them? How confident are you that your products or services are truly superior to your competition? - If your answer is “not that confident…” then, hang in there with me. I’ll share some ideas for how to create the perception of superiority even if your products and services are essentially the same as your competitors. - If your answer is “very confident!” then it’s key to get your products or services in the hands of potential customers, even if it means you give them away for free. - When coffee is in its bean state – nothing more than just a commodity – the cost is about 1-2 cents per cup. - Put the coffee into packaging, add a brand name, and stick it on a store shelf, and the cost of that same coffee rises to 5-25 cents per cup. - If you grind and brew that coffee and add in service at a restaurant like Dunkin’ Donuts, the cost goes up to around 75 cents to $1.50 per cup. - And then, there’s Starbucks, where we pay a whopping $2.00 to $5.00 per cup (or more!). Are we crazy? Is that “choca-mocha-froca” truly that much better? (I can never keep those names straight.) The truth is that it doesn’t matter whether the coffee is bette r because what differentiates Starbucks is the unique experience that it offers. People go there to take a break, treat themselves to some “coffee theatre,” meet friends, relax, and use the WiFi. Here’s an example of what I mean: A while back, I attended a networking event at a new spa that was just opening up. When I arrived, I put my business card into a bowl for a “lucky draw,” and – lo and behold – when the lucky draw took place, my card was chosen. I suddenly found myself the winner of a certificate for a free, one-hour spa visit. Now, truth be told, I’m not really that much of a spa person, so I wasn’t that excited about the offer. In fact, I completely forgot about the certificate until a few weeks later when my assistant reminded me the certificate was about to expire. “What the heck,” I said to myself, and made an appointment to go to the spa. When I walked out of that spa a few days later, my attitude had changed dramatically. The experience was extraordinary! From the plush robe to the soothing music to the aromatherapy to the great facial to the pleasant and well-trained staff, everything was spectacular. The result? I’ve been back to that spa again and again, and I’ve paid a hefty price every time. Moral of the story: If you’ve got true superiority in your products and services, find ways to make sure potential customers know firsthand that you are better than the competition. It may cost you a little bit to give your products/services away at first, but your return on investment will be worth it. Bottom line: Customers will pay more for a superior experience. So, how can you improve the “experience” you offer your customers? Even beyond these ideas, there are dozens of additional creative ways to use your existing customers and your products/services to strengthen your brand – and all without the need for a hefty marketing budget!