The First Expenditure
When a customer encounters your business, what is their first expenditure?
Easy, right? You deposited it in the bank. You even know the date and time.
Nope. The first expenditure -- that is, the first time they gave you something of value -- was the first time they paid attention to you. I know this sounds a little corny, but it's more than just a (not so) clever play on words.
With the enormous demands on our attention -- from friends, work, family and, of course, marketers -- it's a valuable commodity.
Most marketing doesn't seem to recognize this. Attention is often treated as though we all have a surplus and all you have to do is ask for it (or take it).
A rule to live by is that if you're asking for attention you have to give something back. And the more attention you need, the more you have to give.
From a strategic standpoint that means that everything you do needs to demand as little attention as possible. That means more than just simplifying your website or streamlining the buying process. It means understanding your potential customer's thought process and anticipating their needs.
Then, when you've made every step as easy and clear as possible, you have to reward your potential customers every step of the way. I've said it before but it bears repeating. The reward doesn't need to be (and usually shouldn't be) monetary. It just needs to be valuable. Good information is valuable. Fun is valuable. Catering at your event is valuable. Making new friends is valuable.
If at any point the costs outweigh the perceived benefit, the chain is broken and you're going to lose customers. So be thorough. Keep it simple and clear. Ask for a little. And give a lot.
Easy, right? You deposited it in the bank. You even know the date and time.
Nope. The first expenditure -- that is, the first time they gave you something of value -- was the first time they paid attention to you. I know this sounds a little corny, but it's more than just a (not so) clever play on words.
With the enormous demands on our attention -- from friends, work, family and, of course, marketers -- it's a valuable commodity.
Most marketing doesn't seem to recognize this. Attention is often treated as though we all have a surplus and all you have to do is ask for it (or take it).
A rule to live by is that if you're asking for attention you have to give something back. And the more attention you need, the more you have to give.
From a strategic standpoint that means that everything you do needs to demand as little attention as possible. That means more than just simplifying your website or streamlining the buying process. It means understanding your potential customer's thought process and anticipating their needs.
Then, when you've made every step as easy and clear as possible, you have to reward your potential customers every step of the way. I've said it before but it bears repeating. The reward doesn't need to be (and usually shouldn't be) monetary. It just needs to be valuable. Good information is valuable. Fun is valuable. Catering at your event is valuable. Making new friends is valuable.
If at any point the costs outweigh the perceived benefit, the chain is broken and you're going to lose customers. So be thorough. Keep it simple and clear. Ask for a little. And give a lot.
posted by Cascadia Collaborative Law Group at 9:08 PM
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