Today’s Throwback Thursday post returns from March, 2014:
Did you know that people like to buy? How else can we explain malls, home shopping networks and even Ebay? People get pleasure from making purchases. The flip side of this is that people don’t like to be sold.
Think about it. Do you enjoy being in a store or at a car dealer and having a salesperson hovering around you? Do you like the salesman asking you, “What will it take to get you into this car?” Most people don’t.
It’s often not a pleasant experience to be sold something. But it is a pleasurable experience to personally discover something of value and buy it. If you can orient your online business around helping people to find you and discover for themselves that what you have to offer is for their benefit, you are well on your way to creating sales AND long-time customers.
Attraction Marketing is giving people the time to discover the value themselves. Adding value to people’s lives is different than selling to them. It’s a different mindset. So, Attraction Marketing is building a circle of influence through giving value.
Did you notice the word “giving” above. It’s a powerful concept. When you give value, you build credibility, and when you build credibility you are more likely to be a person whom others feel comfortable doing business with.
Your circle of influence may start small, but as you grow in visibility and credibility, there is a multiplying effect that kicks in. You’ve heard about going viral? It can happen with Attraction Marketing. Here’s the formula for success with Attraction Marketing:
This profit cycle all begins with trust. And the funny thing is (that is, if you like laughing all the way to the bank), that as you establish trust by offering value, you find that people enjoy buying from you. They win, you win, and Attraction Marketing has done it again!
If you’ve been around this blog for a while, you may remember the following:
There are three ways to grow your business. First, by attracting new customers or clients. Second, by selling more to your current customers and clients. Third, by selling more expensive products. That’s it (if you know of other ways, please let me and others know about this through the comment section).
Here are four steps to profiting from Attraction Marketing:
- Plan a strategy for creating a strong and steady stream of new, quality, targeted leads for your business. For this, you can use any number of means including solo ads, banner ads, social media ads, social media networking, your business website, customer referrals, cross promotions, and webinars. This list is not exhaustive; there are other ways to acquire leads. If you’d like to try the social media networking route, use my popular 12 Tips series that you’ll find on this blog.
- Particularly if you plan to generate leads through social media, you must work at building relationships with your leads. Top 20 Social Media Influencer Ted Rubin (according to Forbes magazine), is fond of saying that “relationships are the new currency.” Rubin says that you have to start with giving people the impression that you are “looking [them] in the eye digitally.” Rubin has called Dale Carnegie’s classic book, How To Win Friends And Influence Them, one of the best books on social media ever.
- Your Attraction Marketing strategy should be built around earning income from all your leads. Obviously, this is not likely to happen, but it’s a great goal. For email marketing, one of the metrics that I’ve repeated often is $1 per subscriber per month. Some of the best earn more than this per subscriber. By the way, regular emails is a powerful way to build relationships.
- The final piece is scaling. As your business grows, you can scale your advertising and other means upward, increase your profit margins, and grow your business larger and faster.
That’s my take on Attraction Marketing. What would you add? As always, your comments, questions, likes and shares are appreciated!