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!