1. Components of an outbound marketing strategy
Everyone wants their outbound campaign to be efficient and effective. That type of successful strategy begins with the initial planning. The best way to start planning is to answer crucial questions that will point you in the proper direction.
Questions like how your product or service helps people, how it stands out against competitors or whether it blends into the background, who your target audience is, what they need the most, and the vital facet of catching their attention.
These are critical questions to ask when you start your marketing planning because they narrow your focus to areas where you can get a good return on your investment (ROI). Otherwise, you could throw everything you have at the wall to see what works.
Narrowing your focus to specific things identified by answering the questions that need upgrading will allocate your resources where they do the most good and lessen the stress of creating a plan.
2. What makes a product or service desirable
There’s an old saying that the value of something is what people are willing to pay when you are eager to sell. Some psychology aligns with that. Those in a desperate situation tend to sell services or products lower than the current market value.
Some business owners, such as customized clothing manufacturers and artists, have found that raising prices draws more interest and sales. People can attach a desire for an item if they consider it valuable; price certainly plays a role in that.
Products and services should have a price that aligns with their value. There are two ways to determine that. One is tangible value. Tangible value is the cost of the raw materials it takes to make the product or provide the service, adding indirect costs like staffing and operational costs and then attaching a certain percentage for profit. Many people use this method to determine the price.
However, there is also value pricing. This is more customer-oriented. That means companies determine the price of a product or service because of what a customer believes it’s worth. This follows, to some degree, economic principles of supply and demand. This is why some products cost more when they are in high order. Customers are willing to pay more for a hot item.
You can use data to determine customer value, but there are a couple of general principles to apply. Value comes when a product or service solves a problem and has a value proposition.
The value proposition is something the customer offers to encourage customers to remain loyal. Customers perceive they get the best possible value by purchasing your product or service. Value propositions include loyalty cards, cash-back bonuses at the end of a year of using your company, and other incentives.
Related: Supercharge Outbound Marketing with This Exclusive Tool
3. How to stand out from your competitors
Getting your product or service to stand out from your competition can be challenging, especially if you are in an industry with many similar products or services. You can do some things to bring more attention to your service or product.
One thing that helps tremendously, especially if you are starting your business, is maintaining a multi-channel presence. This takes a couple of months to build but is the fastest way to determine credibility and get you in front of decision-makers.
A multi-channel presence means setting up business social media pages on platforms that target the customers you want. You don’t have to be on every platform, but you should be on at least three or four. You should also have your company webpage and also join as many online communities or business channels as you have time for.
You may also consider direct sales platforms like Thumbtack or Angie’s List. There are also platforms geared toward specific industries like health, event planning and catering, and home repairs. Getting on these platforms will get your business seen by people looking for a particular service or product.
It also does something else. It gets your business listed all over the internet. That helps bring in customers. When researching products and services, customers give more credibility and value to a business they see in multiple searches. This gives them the perception you’ve been around and have built a reputation.
Messaging is essential both to target customers and when you talk with decision-makers. Most people will decide whether to consider your product or service within one minute or two of looking at your information. They may not fully decide to use your business at that minute, but they will decide whether to consider you or throw your information to the side. You need a message that matters.
A solid message should address problems your potential clients or current customers have and how you solved them. That hook keeps them looking, so it should be prominent. Follow that with information about what your business offers and close with any special deals you include.
Reviews are becoming more critical, and most potential customers will not only look at reviews but will use reviews to make their final decision. It is essential when happy customers post great reviews on social media and your business website.
That may be challenging because customers don’t always consider writing a positive review. They will jump to write a negative but delay the positive ones. You will need to contact every customer afterward with a link and a note asking them for a quick review. Assure them it will only take a couple of minutes, and you will get responses.
Make sure you balance out reviews between your website and social media pages until you have a program where a review cross-posts. You don’t want all of your reviews in one spot. They need to be spread out.