Being first is not enough!

“I developed a fantastic marketing strategy. I have great ideas and a brand-new concept. But hey…let’s analyse and observe the competition first. What do they do? Let’s wait for the proof that it could work.”

The reality: Being first is great but not enough.

You need to move. End of story.

The early bird catches the worm because the bird moves first.

There is no way you will gain first-mover advantage by analysing, observing and waiting for the proof.

How many companies are still waiting for the proof that LIVE videos have a huge impact? You too? Everyone is watching the few companies that actually implement it and then we all say: “Look, I always told you … it works.”

The moment you said this sentence is the moment you already lost the advantage.

It’s easier, safer and less risk to not move. I get it.

But that is the reason why the reward is so high for the companies that actually get out there and tap into the unknown. They are first with having an idea and then they do what most other companies are afraid of: they move.

FIRST MOVER ADVANTAGE comes from MOVING FIRST!

Three pillars of digital success

The three pillars that in my opinion determine whether a company establishes a sustainable and successful digital brand are VISIBILITY, RELEVANCE and TRUST.

You will find many companies and organisations that are very successful in reaching a huge audience but have difficulties in establishing trust. Keeping your brand relevant in the fast changing digital environment is harder than ever before.

It is therefore very important to understand that relevance and trust isn’t a by-product of being visible. It’s something a company needs to build up and gain through the value it creates.

By the way…

Your new blog article isn’t a guarantee for more visibility.

5.000 Fans on Facebook doesn’t mean that you established trust in the market.

Ask yourself:

How do we become more visible to potential customers?

How do we gain more relevance within the market?

How do we establish more trust for our digital brand?

You will see that there is no answer that fits all. Each pillar needs to be addressed individually.

Setting up the fundamentals (C.I., brand message, etc.) for your brand is the “easy” part.

But making sure that you become and remain a visible, relevant and trusted brand is the hardest part. And it’s something you need to develop and keep up with in the long-term.

VISIBILITY. RELEVANCE. TRUST.

Do not wait for the perfect idea

Do not wait for the perfect idea or the perfect moment.

Marketers want to reach the right person, with the right message, at the right time, on the right platform.

Bad news: It’s impossible!

Good news: You can start today! Test things and gain more feedback. Learn more about your potential customer. And then optimize.

Start executing and stop waiting for “perfect”!

Great marketing = great risk

At the end of the day, the companies that take the risk of being different, will win.

They question the status quo, they make bold decisions and they reinvent things over and over again.

One step forward is what everyone does. Two steps forward is what gives advantage – if you are willing the accept the risk of falling back again.

Brands are not gaining their competitive advantage through adaptation, but through radical innovation.

The new campaign, the new blog article, the next video, the first customer contact. Be different. Be brave. Accept the risk. Win.

The Decoy Effect

Imagine you’ve just launched your products. Everything is ready to sell! Your potential customers can choose between 2 offers with different prices.

The agony of choice.

But what if I tell you now that you should consider a third price, a third offer.

Crazy? Not at all! We are talking about the Decoy Effect!

Decoy what…?

Let’s look at a fantastic example. The newspaper The Economist has offered its readers 3 offers.

1. An online subscription for 59 $
2. A print subscription for 125 $
3. An online + print subscription for 125 $

Offer #3 is clearly the best deal, isn’t it? You get the online and the print subscription for the price of the print subscription.

You ask yourself, why the 3rd offer is offered at the same price as the 2nd offer? Doesn’t really make sense, right?

Let’s have a look what happens if we take the second offer out of the assortment?

1. An online subscription for 59 $
2. An online + print subscription for 125 $

Only a few of us would now decide in this new setting for offer #2, as the price in contrast to offer #1 appears very high.

And this is what the Decoy Effect is all about. We have just taken the “decoy” (offer #2 – a print subscription for 125 $) out of the assortment. With the three offers on the table most of us would have bought the third offer.

The strategy: Set an unreasonable price for a third product so that the price for the product you want to sell seems reasonable.

You place a “decoy” successfully by …

– defining from beginning which product you want to push with the decoy
– setting the price of the decoy close to the price of the most expensive product
– setting the added value a little higher than the added value of the product with the lowest price
– being aware of the fact, that you might need to adjust the price and value of the decoy multiple times until you hit the perfect price and added value for the decoy to work

The Decoy effect appears simple, yet very effective!

As always, each company has its own requirements on pricing, product range and target group. Whether a decoy can push your sales, you’ll need to analyse in action.

Selling more by keeping it simple

Time for a decision. The big question: to buy or not to buy? Potential customer or paying customer? 💶

Whoever wants to win more customers for their products or services in the digital environment must first of all understand the buying decision process!

What’s does the typical process looks like? He or she compares the price, the brand and the service. Looks for the best deal and much value for less money.

As a reaction to the transparency and the competitive environment on the Internet, the brands increase their marketing messages, incentives, CTA’s, …

More offers, more buttons, more deals. More value?

Instead of helping customers in their decision-making, the customer is left puzzled.

More than 50 different products on one page.

More than 6 CTA’s in one newsletter.

The alleged strategy: More information help the potential customer in the decision-making process.

But less is more. It should not be about the amount of information, but the use of the right tools that help the potential customer to weigh the advantages and disadvantages of the products or services.

From the mini-quiz on the website, which helps the user find the right product for his individual needs, to the video presentation of the various services offered. True to the motto: We will show you which products or services offer the greatest added value.

It not only helps the customers with the buying decision process, but also strengthens trust. Not only in the brand, but also in the products or services. As always: TRUST SELLS!

The problem: More is often easier than less.

However, anyone who wants to be successful in the digital marketing environment must understand that personalizing and simplifying the decision-making process is key to more customers.

KEEP IT SIMPLE!

When was the last time…

When was the last time…

… you asked your customers for feedback on your product or service?

… you analyzed your social media postings?

… you updated your old blog articles?

… you not just counted Likes and Shares, but analyzed the profiles of your fans?

… you tried new content formats?

… you looked back?

We all want to move on. 2 steps ahead of competition.

Every now and then, it is time to take a step backwards to take a new start.

To reflect the strategy, to analyze whether the potentials were fully exhausted or where one can optimize something, make better.

But even small things are often forgotten and neglected! What do you think how many companies have not even thought about updating their coverphoto over the past 12 months?

The digital environment is more dynamic than ever. Platforms are changing. The way your audience consumes content changes. Your company is changing!

This makes it all the more important for you to not only look ahead, but also to take the learnings from the past. It’s a process. Start today!

The question is: When was the last time…

Focus is a strategy

The real foundation of your digital marketing success is FOCUS!

Focus not only means knowing which steps to take for your future success, but also how you should communicate the value of your products or services. Focus on the message. Focus on what your potential customers really expect from your brand.

Focus should never limit your courage to try new things.

However, it is very important to not only search for the next big thing but also to keep an eye on what already works and could work even better with a bit of improvement.

Keep focusing on things that are relevant and determine the growth of your business.

No focus – no plan – no action.

Keep in mind: Focus is a strategy!

A P.S. makes the difference!

Who likes to communicate with logos?

Humans prefer to communicate with … Humans.

No surprise!

Nevertheless, many companies still do not know how to integrate a personal touch into their communication.

It doesn’t mean that every CEO has to become the personal brand of the company. If it fits, jackpot!

In most cases, however, a “P.S.” in the Facebook post or Newsletter makes a big difference.

“P.S. If you have any further questions, please do not hesitate to contact me. Your XXXX XXXX”

No video. No interview. No blog article. No personal branding.

Only a “P.S.” which symbolizes the user, fan, follower, customer, that one cares. Nothing creates more trust. And trust sells!

Small gestures, like a hand-signed, new-customer newsletter, make a difference.

Ask yourself today: What can you do today so that your customers feel looked after?