3 Ways To Dominate Your Market

My area of expertise is in leadership development using the philosophy of Lean Six Sigma, in other words “process improvement strategies”. 

Now join me on the journey I call A Tale of Two Companies: One business allowed its workers to be engaged by making improvements that allowed the customer to be first in mind. The second created an environment of “it’s not my job” eliminating employees from using client-first thinking. Now you might ask, “How can the customer not be first?”

Many believe Lean Six Sigma is solely for engineering and manufacturing companies. That’s the first misconception. This managerial approach is built on the premise of eliminating wasteful elements and focusing solely on the customer. Having taken that quick glimpse of Lean, as an entrepreneur, you can now see that this philosophy applies to all businesses. Every business operates in what Lean practitioners call SIPOC, (Suppliers, Input, Processes, Output and Customers). Understanding that small segment of lean thinking will open the door for you to look at the three ways to dominate your market. 

Related: Define Your Brand Identity in 3 Steps

How can I hinder?

Meet Office XYZ, a Dental Facility that has a small staff of 5-7 individuals each having their unique jobs when dealing with patients. I called this facility to make an appointment for my mother and was told they needed to verify her insurance and would call back once they received the approvals. Two weeks went by before I realized I had not heard from anyone regarding the insurance verification.

I called the office and asked to speak with the individual that was to call back, whom we’ll call Kelly. I was informed that Kelly was out of the office and had been ill for the past two weeks. My next question was: “is she the only person that verifies insurance?” The response was affirmative and I then asked to speak with a manager. I was told Kelly was the manager. Let’s stop here because now we enter that well-known rabbit hole of “it’s not my job.”

Related: Trends That Can Move Your Business Forward in 2021

How can I help?

Meet Office ABC, A Pizza Company with a similar-sized staff. One night I called for a pizza. Upon placing the order I was told my meal would be about 30 minutes. Half an hour on a Friday evening? This company operated far differently than the first. When I placed my order something incredible happened, I received a text with the following message:  “We’re making your order. It’s all coming together now. The kitchen staff is busy with your order making sure everything is just right.”

A few minutes later I received this missive: “It’s on the way. The driver has left the store and will be at your location shortly”, followed with, “Delivered! Time to eat. It’s been our pleasure serving you”.And it was within the time promised by the associate. 

The “go and see” mentality

These two very different experiences gave me moment to pause. Did Company XYZ know about the importance of “lean thinking” and did Company ABC know they were using the lean six sigma philosophy in their operations? Did the leader of Company XYZ actually walk the process to see if there were any wasteful elements that allowed their service to lack the three main components of customer first thinking: quality, speed and delivery? And what about Company ABC, did that leader utilize the concept of Gemba, meaning “go and see” to improve their value stream and get to the point where they asked what their customers appreciate?

When exploring Lean Six Sigma’s methodology the first step is to find the root cause for the identified waste. Then you move into seeking what the customer defines as quality, you determine the speed of getting your customer the item or rendering the service and you seek an appropriate method of delivery.

Focusing on the three lean strategies

One can’t assume to know what the clientele defines as quality unless they have actually been asked. In Company XYZ it is evident that no one took the initiative to seek input through surveys, focus groups or used any feedback techniques. There is a concept in the Lean lexicon called (VOC) Voice of the Customer. It simply means find out what your customers want and are willing to pay for. This is where you will find that notion of quality.

In the tale of Company ABC, you can attest to the fact that quality for their customers, myself included, is hot pizza, and being notified as to what’s going on with their order. How did they come to know and implement this into their operations? After receiving such great service I had to call and speak with one of their leaders. I was informed this is how they compete as a reckoning force within the market. 

The need for speed

Being the fastest in your field has a huge impact on your market.  As you can tell from the visit with Company XYZ speed played no major role in what they deemed as important to customers. Two weeks to verify insurance is beyond an acceptable practice. And, by the way, I failed to mention that I did speak with another person, upon request, who did call back within 24 hours to inform me that they did not accept the insurance.  Yet I waited 2 weeks for something that could have saved me both frustration and aggravation. Speed and convenience are major players in our buying experience.

Company ABC, epitomizes the importance of speed. On each text message I received that time stamp of delivery was also listed. Today there are ample services to ensure your customers get items and services in a speedy manner. This company has a system in place that allows employees to know time schedules for various sizes, as well as any increase in time based on selected toppings. Have you looked at your level of quickness, while keeping the high standard of quality appreciated by your customers?

Why is the method of delivery so important to your customers? Is it easy to obtain your product or service? Delivery in its simplest form equates to how a customer receives your product or service. Simple right? Company XYZ’s delivery was neither exceptional nor satisfactory. The level of professionalism of their staff created an angst for the customer and therefore any method of delivery they deemed appropriate was subpar. There was no option as to whether they could email, text me or call me. Based on their performance I don’t think any of those options would have changed the outcome.

Related: Entrepreneurial Takeaways From 2020 to Guide Your Next Big Move

Company ABC created a delivery method that allowed me to select how I wanted to receive the product. They of course deliver in their vehicles, but I had an option to have it delivered to my door and left in an appropriate place, to have them ring the doorbell and I receive it face-to-face or contactless, it’s in the trunk and I come out and retrieve it. This allows the customer to select an option.

We have just visited two companies:  One eliminated waste and the other added to it. Which business are you? 

By: Sheryl Mays Entrepreneur Leadership Network Writer

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★★★ Jay wants to mentor YOU with his exclusive Mastermind Mentoring Program! Start your journey with Jay here: https://bit.ly/2FbtM2X ★★★ For the first time ever in public, marketing icon Jay Abraham shares his business strategy that he has previously only shared with his high paying clients. He’s going go teach you the concept of Preemptive Marketing so you can instantly stand out in the eyes of your customers and dominate your market. Enjoy the session

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Building The Customer First Mindset

Agile is often thought of as a process when it’s really a mind-set (supported by processes, of course). Yes, it’s about testing and learning, and new ways of working, but at the heart of agile is the determination to provide the customer with something she or he wants or needs. That’s the point. Enshrining this principle across the business provides a consistent point of reference. But while almost every company will claim to be “customer first,” a closer look under the hood often reveals that internal efficiency or profit rather than customer need is the true driving force.

An agile mind-set starts from the premise that everyone is responsible for the customer, be it the CEO who determines the business strategy, the salesperson directly serving the customer, or the data scientist developing analytics platforms. You will only be able to embed agile ways of working once this becomes a core value, providing cohesion and purpose. This isn’t about doing your job better; it’s about serving the customer better.

The way a true customer-first ethos comes to life is through design—the process of integrating the customer point of view into all development.

This is much more than gathering insights or building elegant websites. It’s about building an adaptive learning process around the customer for everything the company does.

Getting design right is worth a lot. Companies in the top quartile of the McKinsey Design Index, which rates companies by how strong they are at design, outperformed peers in their sector in terms of growth by as much as two to one.

Here are two of the most important things the winning companies do:

1. They Make Huge Efforts To Know The Customer

A design approach requires solid customer insights to understand the real needs of potential users. Yet only around half the companies McKinsey surveyed conducted user research before generating their first design ideas or specifications.

One international pizza chain wanted to improve home delivery, a crowded market where consumers were already spoiled for choice. Data analysis revealed that one of the biggest drivers of customer satisfaction was how hot the delivered pizza was. This fact led the business to invest in “Intelligent Kitchen” technology, which determines when orders are baked based on the delivery address, driver availability, and current location, as well as road conditions to ensure the customer got a piping hot pizza. This approach grew overall sales 7 percent in the first  year, and more in the years following.

The best results come from constantly blending both quantitative and qualitative research. One top team invites customers to its regular monthly meeting solely to discuss the merits of its products and services.

And the CEO of one of the world’s largest banks spends a day a month with the bank’s clients and encourages all members of the C-suite to do the same.

2. They Continuously Improve With Customer Feedback

Continuous improvement is key to success for a digital transformation. This is the raw learning capability. You can see it in companies that foster a culture of sharing early prototypes with outsiders and discouraging excessive time spent on mock-ups or internal presentations. Despite the value of iteration, however, almost 60 percent of companies in our survey said they used prototypes only for internal-production testing, and even then, only late in the development process.

New technologies allow companies to uncover insights and test products in a dramatically faster way than traditional market research or focus groups. Digital marketing teams can convene online customer panels using video chats and watch as the panels test products and provide feedback in real time. One insurer created digital diaries to help identify customer pain points that would previously have gone undetected.

Similarly, digital companies can quickly A/B test new products and campaigns with thousands of customers in hours or days.

Agile Defined


Agile isn’t just a process. It’s a mind-set that puts customer objectives first. Team autonomy works best with guiding principles about what needs to be done and why.

Agile coaches are necessary to train people to learn new skills fast—leaders included.

Agile budgeting helps scale agile by quickly allocating money to projects.

Agile ways of working can’t take hold unless they are supported by stable processes.

Design thinking is the commitment to completely understanding your customer.

Contributed to BSI By: Arun Arora, Peter Dahlstrom, Klemens Hjartar, and Floria Wunderlich. Excerpted from their book Fast Times: How Digital Winners Set Direction, Learn, and Adapt (Amazon Publishing)

The Blake Project Can Help You Create A Brighter Competitive Future In The Jobs To Be Done Workshop

Branding Strategy Insider is a service of The Blake Project: A strategic brand consultancy specializing in Brand Research, Brand Strategy, Brand Growth and Brand Education

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Shep Hyken: Customer Service & CX Expert

Go to http://www.TheCustomerFocus.com or call 314-692-2200 to learn more about Shep Hyken or to learn about customer service training. Your people attend customer service training. They learn techniques and tactics on how to deal with complaining customers, angry customers or customers who just need a little support. They are taught the right answers to some difficult questions. This is what customer service training is all about. But… What happens when something happens that is outside of the parameters of the training your employees have received?

5 Tips For Entrepreneurs Tco Better Serve Their Potential Customers

If McKinsey & Company insights from July are any indication, consumers have rediscovered their power in the pandemic. Due to a combination of product shortages, economic and job concerns, along with a general willingness to change their purchasing behaviors, 75 percent of shoppers say they’ve behaved differently since coronavirus began spreading. In many cases, their new purchasing habits have led to exposure to unfamiliar brands.

This is a huge boon, especially for entrepreneurs trying to disrupt a market or industry. Under ordinary circumstances, getting consumers to move away from their favorite companies’ products and services can be challenging. However, with so much general uncertainty in the world, customers have become increasingly open-minded about giving untested organizations a chance to wow them.

If your startup or small business hasn’t been ocusing on customer service, the time couldn’t be better to put on a huge customer-centric push. However, you need to make sure you have the infrastructure, protocols and tools to be certain that your brand’s first impression is nothing short of powerfully awesome.

Below are a few ways to up your game when it comes to serving current and prospective patrons.

1. Leverage tech to ensure your sales time is nimble and responsive

Your sales team can’t afford to drop the ball anywhere or any time, particularly when customers are moving so freely from one product to the next. Mixmax, a sales engagement tool, boasts the time management benefits of utilizing key sales tools which can help your sales team focus less on tedious tasks and more on prospecting. Ensure they have the resources they need to carry customers from lead generation to conversion by investing in the best tech stack for your needs and goals.

What type of solutions might make sense? If you’re focused on improving the responsiveness of your salespeople no matter if they’re working from home or the office, you might opt for higher-end telephone and videoconferencing software that integrates most forms of visual and audio communication. On the other hand, maybe you want to streamline the information your prospective customers receive. In that case, you may be more interested in adding a secure contract management system into your toolkit.

Related: How the Sales Process Has Drastically Evolved to Fit the Future

2. Centralize knowledge so anyone can be a customer-service star

Nothing frustrates customers quite as much as not being able to get quick answers to their questions. A fast way to ensure that anyone in your business can solve a client’s issues is to establish a centralized knowledge-management database that can be housed on your intranet or another piece of cloud-based software. You may even want to include a corporate wiki so employees can find any information with only one login.

By giving everyone on your team access to customer information such as buying history, touchpoints and other data, you avoid having to bounce consumers between service representatives. Centralized knowledge-management systems can also be invaluable if you’ve moved some or all of your workforce remote. 

3. Channel your inner Nostradamus and foretell customer questions

You want to make finding answers to potential questions as easy as possible for customers. In fact, according to Drift’s 2020 State of Conversational Marketing Report, 34 percent of consumers cite not being able to find the information they need online as their highest customer-service snag. Rather than forcing would-be buyers to hunt around for the solutions they want, begin peppering your site with rich content that gives them the insight they crave. It’s appealing to a lot of customers to be able to solve their own problems, and they’ll appreciate finding answers fast.

What should your content look like? Ideally, you should have a variety of content FAQs on your website. The content can take the shape of videos, written copy, images, blueprints, schematics, how-to charts or even GIFs. Whatever you feel will be helpful needs to have a home on your site. Of course, you may want a more traditional page dedicated to the biggest FAQs your sales folks and customer experience (CX) personnel hear. Just make sure your FAQs stay up-to-date and don’t become stale or irrelevant.

Related: 5 Tips to Help You Create Great Content While Working From Home

4. Stay alert on social media

Spend a little time social listening, and you may just figure out exactly what your customers want. And you’ll be in good company: More than half of companies are currently using social media listening to get real-time consumer information. To be sure, many customers will talk about what they didn’t enjoy about a CX. However, their honesty is exactly what you need to hear and read. Add social listening to your sales and marketing plan today. That way, you can respond quickly if you notice that a customer is unhappy with you or, better yet, with a competitor.

For example, you might discover a critical review of your latest gadgetry on Twitter. Treat this knowledge as the opportunity to jump in and resolve the problem. Connect with the user publicly or in private and work together to solve the issue. Most people are willing to work with companies to get what they want. And you could end up turning a disgruntled buyer into a raving fan if you’re fast on the draw, take crisis management seriously and empower your CX team to do what’s right in every unique situation.

5. Make being your customer a rewarding, one-of-a-kind adventure.

Why do shoppers rave about Apple, Lululemon or Southwest Airlines? Though their products and services do tend to be well-considered, the key to the brands’ almost cult followings is the culture. Wanting to be part of a community is a basic human desire, and certain companies have made being their loyal customer an amazing experience.

If you’re trying to develop a fierce following of fanatics who wouldn’t think of going anywhere else, consider the user experience from start to finish. Look for opportunities for you to go above and beyond expectations to make shopping with you not just a pleasure, but a must-do. You might just end up building a society of kindred spirits like BMW did with its MINI series of vehicles. MINI drivers consider themselves part of a movement and collective, and the brand promotes this camaraderie on their site. Who wouldn’t want to be part of the “in” crowd?

Related: How to Earn Your Clients’ Trust (and Keep It)

Customers are moving around like never before and into a phase of discovery. Meet them where they are, and amaze them with a CX unlike any they’ve had before. They’ll be more likely to rave, not to mention stick with your organization for the long haul.

By: https://www.entrepreneur.com/

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Kimberly Ann Jimenez

Find clients for your service-based business! In this series, we’re covering how to launch, grow and scale your online service business. 💸💸 ***Join The Early Bird List For The Savvy Online Selling Course DROP for FREE 👉 https://kimberlyannjimenez.com/earlyb… **Catch the entire series business series: http://bit.ly/2KwtZiE 💻Get My Best Work In One Place (And 30+ Business & Marketing Courses) Inside The Business Lounge: http://jointheblounge.com Get in-depth, practical examples of today’s episode over on the blog: https://kimberlyannjimenez.com/2019/0… 📺 WATCH MORE ONLINE BUSINESS TRAINING VIDEOS: http://bit.ly/2KwtZiE ▼ GRAB THESE FREEBIES Learn How To Sell More On Your Blog Via My Brand New, Free Masterclass: https://kimberlyannjimenez.com/blog-c… The Online Success Path, a step-by-step guide to launching, growing and scaling the profitable online business you’ve always dreamed about: https://kimberlyannjimenez.com/succes… How To Start A Blog Playlist: https://www.youtube.com/watch?v=PAgJg… Learn Content Marketing Playlist:https://www.youtube.com/watch?v=l5gui… ▼ NEW AROUND HERE? START HERE. Run Facebook Ads On A Budget: http://bit.ly/mystrategyforfbads 5 Steps To Start An Email List From Scratch: http://bit.ly/2wgV8hT 6 Stages Of A Successful Online Business: http://bit.ly/2x5CTsR ▼ MORE RESOURCES Don’t forget to subscribe to our Podcast! : https://kimberlyannjimenez.com/podcast/ Come on over and join The Business Lounge’s FREE Mastermind Group: https://kimberlyannjimenez.com/master… Learn to launch, grow or scale a profitable online business without spending thousands on a business coach. It’s my best work in one place. http://jointheblounge.com ▼GEAR I USE: Main Camera Beast: https://amzn.to/2ALA2fQ Buttery Wide Camera Lens of Life: https://amzn.to/3bN9K9N My Favorite Studio/Portrait Lens Ever: https://amzn.to/2WOGcEt Crispy Lucious Microphone: https://amzn.to/2zekiBx Softbox Light For Glowy Skin: https://amzn.to/2XhPE2l Most Reliable Tripod: https://amzn.to/36d2NOa Most Versatile Tripod: https://amzn.to/2XckysF More recommended gear for any kind of budget: https://kit.co/kimannjimenez ▼ FOLLOW ME ON SOCIAL Facebook: https://www.facebook.com/KimAnnJimenez/ Twitter: http://twitter.com/kimannjimenez Pinterest: http://pinterest.com/kimannjimenez Instagram: http://instagram.com/kimannjimenez

How Data Can Help You Understand Evolving Customer Expectations In The New Normal

How well do you understand your customers? Whether your brand is B2B or B2C, your customers expect seamless, omnichannel experiences. Especially during the Covid-19 crisis, customers expect brands to offer value, relevant products and services, and to grow with them as their needs evolve.

The pandemic has taught businesses that staying relevant in a time of crisis requires a deep, holistic understanding of the customer, and an openness to new ways of doing business. To stay ahead of such rapid change, customer intelligence and data is more important than ever. From remapping and re-creating customer journeys, to developing more accurate forecasting models, all businesses need a data and analytics strategy that allows everyone in the organization to see customers needs in real time and build scenarios, identify gaps, stress-test ideas and improve results with actionable insights.

Your customer is expecting you to lead, and it’s never been more important for your brand to address their pain points and deliver exceptional experiences.

Meeting the customer where they are

While the long-term economic and societal impacts of the pandemic are yet to be fully understood, customer attitudes and behaviors have already shifted in profound ways, and some of these changes are predicted to continue into the future. Recent consumer surveys reveal how rapidly behaviors are evolving:

  • 68% of people report that the pandemic has changed the products and services they think are important
  • 75% of people using digital channels for the first time will continue to do so
  • In Italy, e-commerce sales for consumer products rose 81% in a single week and in the UK, 20% of people say they won’t buy fashion in-store again

In the retail sector, the shift to online buying and direct-to-consumer selling, coupled with a decrease in discretionary spending and flat sales for net-new products, has forced businesses to change their business models overnight. Traditional B2B businesses like financial services organizations are not far behind, augmenting existing sales and service models so they can better serve customers remotely. In the healthcare sector, patients can now choose telehealth as a standard alternative to an in-person visit—and adoption has been swift: one of Europe’s largest telehealth providers, KRY International, has seen a 200 percent increase in registrations. Government agencies and educational institutions are also finding ways to deliver their services in a virtual world.

But meeting the customer “where they are” is not just smart business—it’s essential for survival. Business segments that aren’t responding to changing customer preferences by accelerating their own digital transformations will be left behind. And a central part of transformation includes prioritizing customer analytics.

In today’s competitive and uncertain market environment, your advantage lies in understanding what resonates with your customers. How businesses choose to respond will influence buying decisions today and in the future.

Goal: a complete picture of your customer

What kinds of customer experience metrics are valuable in order to gain understanding of your customer? To create baseline analyses, you need behavioral, transactional, and feedback metrics. And as Gartner points out, more frequent, real-time monitoring of customer metrics is essential during this crisis, since attitudes are changing so rapidly. Useful metrics include:

  • Customer satisfaction scores
  • Customer effort scores
  • Net promoter scores
  • Customer call volume and types of queries
  • Website behavior
  • Point-of-sale data
  • Geospatial data
  • Social media sentiment
  • Employee feedback

Every business, regardless of industry segment, should also expect to field new questions from customers about products, logistics, inventory, supply chain, and operations—and every business needs to be prepared to capture this feedback and respond.

01. Strategic Dashboard

Potential Users: C-Suite, VP, DirectorObjectives: At-a-glance cohesive data storyInsight Examples: Performance and comparison metrics tracked against enterprise goalsExample: Executive Summary dashboard

02. Tactical Dashboard

Potential Users: Analysts, Brand ManagersObjectives: Granular, in-depth analysesInsight Examples: Identify trends, monitor processes supporting strategic objectives, create targets and predictionsExample: E-commerce Marketing Optimization dashboard

03. Operational Dashboard

Potential Users: CRM Support Teams, Website Managers, Marketing ManagersObjectives: High-level, real-time monitoring and managementInsight Examples: Retail and customer satisfaction KPIs, marketing campaign performance, inventory statusExample: Store-level Product Availability dashboard

Know your customer, know your business

Things definitely look different now, and they are different. When every aspect of your operation is under scrutiny, you need information, quickly, to make the right decisions for your business and your customers. Understanding customers and their expectations has always been a priority for businesses looking to create competitive advantage, but the pandemic has proven that businesses must have an even stronger line of sight into what their customers need.

You need to be prepared to proactively respond to rapidly-evolving behaviors and perceptions. As David Leonhardt notes in a recent New York Times op-ed, “When the economy weakens, people have to make decisions about where to pull back.” By using data insights to understand and adapt to new realities, you can give your customers reasons to remain loyal and eliminate some of the uncertainty facing your business.

What untapped insights are waiting to be discovered in your customer data?

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Launching a Direct to Consumer Brand? Here Are the 8 Success Secrets

One of my favorite aspects of my job is helping founders bring their vision to life and launch their brands.  Yes, it’s absolutely exciting to work with a brand when they’re already established, but being in those first meetings developing a go-to-market strategy for a brand that’s so new you can still smell the adhesive on their package just hits different. You can hear the heart of the brand beat with every new headline, and watch the founding team grin from ear to ear with each product shot you present.

But all that excitement tends to get matched with the anxiety of a successful launch. There have been months if not years of research and development, trial and error, and highs and lows that lead up to the moment that everything goes live. Everyone’s standing by waiting to see just how well the brand is received — and if people will actually buy it.

Over the last few years, I’ve learned a thing or two about launching brands and products, helping startups get their legs and well-established brands get to acquisition. And although there are many different strategies to get a brand off the ground, there are some things that I believe are essential to a successful launch.

Related: 10 Skills to Master Before Launching a New Business

Identify your ideal customer

The most successful brands know exactly who they are, what makes them appealing, and most importantly who will care. If you’re thinking your brand is for everyone — and it might be true — your messaging can’t be for everyone. Of course, understanding your target demographic is a foundational strategy, but let’s take that a few steps further. Name your ideal customer, understand their pain point, define which other brands they might be loyal to, and create your messaging specific that person in all of your marketing initiatives. It seems pretty basic, but too often do we see brands that fail to connect with an audience because of copy that doesn’t connect to an individual. 

Activate social and collect data

One of our most successful launches was Winged Wellness, a female-focused lifestyle brand.  We strategically activated our social campaign 3 months before the projected launch date to begin growing an audience on social channels with our female-empowerment quote cards and lifestyle images (we didn’t actually have the final product yet) and drive traffic to the brand’s landing page. Why were we driving traffic to the site with nothing to sell? So we could start creating custom audience data for social ads later down the road.

Create a pre-launch interest list

Speaking of driving traffic to your website pre-launch, it’s a good idea to start building your email-interest list for a successful launch date. I’d much rather be reminding consumers about a brand the day that I’m ready to sell my products than be introducing the brand. Keep your interest list engaged before your launch by planning a newsletter sequence highlighting your progress, and “alternative” solutions to the problem that your brand will be solving. For example, if you’re launching a skin-care brand, consider sharing content on food that might help someone’s complexion.

Pro-Tip: Consider a pre-order campaign so you can gauge how much inventory you’ll need to have on hand the day of launch. 

Related: Effective Email Strategies for Startups Marketing on a Budget

Prepare your influencer marketing blitz

Look, I get it. You might be burned out on the idea of working with influencers but at the end of the day, you’re getting reach, targeted engagement, testimonials and really great lifestyle content with each one of your partnerships. The trick is to be strategic about who you’re partnering with. Take a look at who’s following them, the sincerity in their engagement, how often they’ve partnered with other brands and what their audience interested in by using a 3rd party data aggregator.  Please do not just spray and pray based on follower counts — by planning your influencer partnerships as you would any other aspect of your go-to-market strategy, you’ll give yourself the best shot of making them a profitable arm of your marketing campaign.

Related: 4 Influencer Marketing Secrets Entrepreneurs Need to Know

Be strategic about social ads

Since you were already going to be launching social ads, here are a few pointers: start your prospecting with broader targeting optimized for traffic to gather your interest data before remarketing with your offers, ideally before the launch of your product. Think of it like how movies gain interest for their launches. Trailers are launched months, if not a year, ahead of time stating “Coming Next Summer,” getting audiences hyped and thus helping the movie have a big opening weekend. One of the big mistakes I constantly see is brands launching ads optimized for conversion to cold audiences. That’s a sure way to get your metaphorical movie to flop on its opening day. 

Do consider the press

You might be thinking that PR is a thing of the past, but a few of our managed brands depend on press releases for a quick hit of massive reach and establishing themselves as a leader in the industry. And each time a brand gets a good press-hit, there’s almost an immediate spike in sales. Nothing screams “must-have” like “As Featured On…”.  But don’t worry, you don’t have to get on Allure’s Reader’s Choice list to make a meaningful impact on your launch. Even a mention in a trust-worthy digital publication can give your brand the reach and credibility to convert readers into loyal customers.

Get your feedback as soon as possible

Once your product finally gets in the hands of your customers, be sure to ask them for a review on your website as soon as possible. In fact, it might be a good idea to leverage package inserts to help remind your customers to give you some love on your site, if not through an automated, product-specific email upon delivery. During your launch phases, reviews on product pages can be especially useful in increasing visitors’ intent to buy and decreasing your initial cost-per-acquisition through paid traffic. A study by Spiegel Research Center shows that the purchase likelihood of products with five reviews is 270% greater than the purchase likelihood of a product with no reviews.

Think: retention

Getting your first customers is just the beginning of their story with you. After working with numerous founders who know something about DTC launches, the focus of conversations as of late have been about customer acquisition cost (CAC) and return on ad spend (ROAS), which in my opinion have effectively become the buzzwords of 2020 digital marketing. And while these metrics are essential to consider, I’d venture to say that improving your customer’s lifetime value (LTV) is even more crucial. Think about it, the cost of acquiring a customer bites deep into your profit margins, so repeat purchases and cross-selling are critical to your business’s overall profitability.

So how do you do that? You can begin with email campaigns that reinforce the use of your product like Truff does by regularly sharing recipes that go well with their truffle-infused hot sauce. Creating exclusive Facebook groups and cultivating an engaged community that experiences your brand through webinars, Q&As or panels is another way to keep your customers in your eco-system. And of course, don’t forget that a great brand starts with a great product.

By: Mikhail Alfon / Entrepreneur Leadership Network Writer

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