Offering discounts and lowering prices may not go far enough to gain you new customers with long-term potential. In his recent article “Customer Acquisition is No Longer Enough: Cultivate Brand Enthusiasts” on AlisterPaine.com, author Paul Farago says as prices have been driven down, many brands have lost their authenticity and connection to their core customer.
“Rising out of the ashes of traditional branding and retail, there is an ever-growing number of direct-to-consumer brands positioning themselves to fill the void,” he says. “These emerging companies can only exist because of modern technology, and their focus is almost never on price, it is on the customer.”
Farago shares three core principles that direct-to-consumer companies follow to create brand enthusiasts.
- Quality and Value: Deliver very high-quality products at fair prices.
- Engagement: Control your brand message by going direct to the consumer with content that focuses on educating the consumer.
- Sense of Ownership: Consumers want to a stake in their brands. Treat your customers like team members by providing regular business updates, responding promptly to their communications, making sure their input reaches decision makers that can take action, and implementing customer-generated ideas.