Start your business success by creating the Know-Like-Trust Encounter with potential buyers.
When it comes to business, prospective buyers will only become paying clients when they know, like, and trust the company they are buying from. This means they won’t buy until they can logically and emotionally connect with the company’s brand in relation to quality, service standards,values, philosophies, and delivery. Only after considering these factors do they begin to think about other factors such as affordability, timing, size, etc.
For businesses that include the company owner or CEO as part of their brand, the know-like-trust factor vicariously extends to that too. In that case, prospective buyers will also need to be drawn to the CEO’s personality and the kind of lifestyle that the CEO represents.
So, how can a business owner create know-like-trust encounters that lead to substantial sales and revenue? By reinforcing your company’s brand in four steps as follows:
Step #1 Enhance visibility and credibility within the marketplace and community.
The most successful businesses are not necessarily those with the greatest products and services in their industry. Companies that achieve the best results from a sales and revenue perspective are those that apply strategies which make them seemingly ubiquitous and have a strong influence on how they are perceived. Four marketing methods that will help your business in this area include: forming strategic alliances with reputable companies, writing articles that get published by the media, giving away valuable freebies, and exhibiting or speaking at trade shows. Examples of companies and people brands that are particularly good at enhancing their marketplace visibility and credibility include McDonalds, Warren Buffet, Coca-Cola, Richard Branson, Forbes Inc.,Tiger Woods, Mercedes, Donald Trump, and Microsoft.
Step #2 Make a connection with your target market and capture their contact information with their permission.
Potential buyers who visit your office or web site for the first time may never visit again after they leave. That’s why it’s important to capture their contact information and include them on your database, with their permission of course. You’ll need to give them a compelling reason to give their contact details. A freebie that is perceived to be of high value should be offered in exchange for their contact information. This will enable you to build a database of warm and qualified leads that you can keep connecting with, serving, and marketing to. Making the connection with your target market is about making them feel seen, heard, understood, and valued as they get acquainted with your company and offerings. Four effective ways to make this happen include: posting audio or video messages on your web site, sending greeting cards, blogging, and hosting interactive live events (online or offline). Examples of companies and people brands that are especially skilful at connecting with their target market include Virgin, Oprah Winfrey, American Express, and Loral Langemeier.
Step #3 Follow up to maintain those relationships.
This is where most businesses miss the boat. Averagely, it takes at least seven to nine positive contacts for potential buyers to take action. And that figure could go up significantly, depending on how effective the followup method is, and how strong the connection is during each follow-up encounter. This means that companies need to follow up in different ways that are perceived to add value to potential buyers as well as promote offerings, and do so without pressuring the prospect. Examples of companies and people brands that are adept at relationship-building follow-ups include Bloomberg, Joel Osteen, Vodafone, and Brian Tracy.
Step #4 Repeat Steps #1 to #3 throughout the lifetime of your business.
Enough said about Step #4!
What’s Next? For each company and personal brand listed in the examples above, do some research in order to study their “know-like-trust factor” activities. Doing so will help you brainstorm ideas for reinforcing your own business brand and personal brand. The first point of call to find out more about them would be their web site.
Editor’s Note: For a limited time period, DivaScribe is giving away free business coaching sessions, subject to application criteria. If you would like to schedule a free 30-minute phone consultation to help you explore what’s next for your business in relation to this article, please email email@example.com to tell us why your business should receive this gift. Please provide your full name, company name, website, email address, phone number, and the best times to reach you.