Author: Lawrence Reaves
Some experts say that customers just don’t buy in today’s new economy. Not so! You simply have to know how to target your products and services. What used to work five or even ten years ago isn’t going to work. Lets talk about how to advertise your company and products and services in the new economy.
Understand a customer’s “want” vs. their “need.” Your product has a much stronger chance of selling if it meets a “need” than a “want” in today’s budget. But don’t fret if you fall into the “want” category: people do still splurge and have that desire for those luxury items. It is helpful to know how to target your advertising so it will appeal best to your potential target market.
A “need” item will be successful if it stresses value and quality for the dollar paid for it. When someone feels they are receiving high quality for the amount they have paid, this is a high selling point for most “need” items. You don’t have to use these specific words. Describe your product and how it is a great value. Describe its quality, that is uses farm fresh ingredients or is Made in the U.S.A.. Talk about the price per serving for the item or how long it lasts.
The “want” item will also do well stressing quality and durability, but most “want” items have done this for years in their advertising. “Want” items will also want to stress the fact that they are luxury items which are high value, something that for a long time has been implied but not always said directly. In today’s new economy, you’ll want to say this in some way specifically to your customers. When they are buying a luxury car and paying 40k or more, you want them choosing yours because they know it is the best of the best and will last a very long time.
Don’t be shy about using ratings and/or customer testimonials. This is another tactic many have found successful with their advertising. Today’s customer is quite confident rating their customer experience online or over the phone. Customers are not shy about voicing their opinion and will certainly speak up if they don’t think a product or service is worth the money. If your product or service has received top ratings, use these in your advertising.
Remember to mention awards and commendations. If customer advocate groups or trade associations give you a top rating or an award, this is an excellent thing to mention in any of your advertising. It shows in your industry or niche that you stand head and shoulders above the rest. Do be specific and transparent about the award or commendation so customers know exactly what it was for.
If your business is local or regional, another excellent thing to include is your Better Business Bureau rating. This is also something to consider adding especially if you are a new or online business. The BBB is one of the most trusted business information sources available today and getting a top rating from them says you are a business doing a good job of being in business. Customers pay attention to things like this when they shop.
Customers are shopping today. Your ads may need to change a bit to attract them, but they will shop for your products and services.
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