Why is it that business owners get so involved in the day to day aspect of running their business, that they somehow come to a point where they get so busy being busy that they sadly neglect to see to the needs and desires of their customers and prospective customers!
This does not mean a business owner does not care, rather that they have become trapped in the hamster wheel of entrepreneurship and are more focused on figures, deliveries, software and so on and have simply lost sight of what is really important to their business, their customers. Entrepreneurs do this at their peril and effectively are leaving money on the table.
Client Hacking on the other hand is a means of keeping a focus on customers and putting their needs first. Client Hacking is quite simply a deep dive into finding out the needs, desires and drivers of buyer behaviour in your current customers and in your prospective customers. The results attained from Client Hacking in turn allow you to refocus your marketing communications, so that you can speak to the very heart of your customers.
Why? Because when customers feel like you care for them, they will be more likely to buy from you and to become a repeat customer. The problem for most entrepreneurs is that keeping your accounts is relatively easy compared to understanding customer buying behaviour. Human beings are often so hard to understand that it is much easier and less messy to focus on accounting for example rather than doing a deep dive on your customers to truly understand their needs and drivers towards buying your product / service.
BUT if you put the work in and get it right and you will see that Client Hacking results in higher sales conversions, every time. A case in point are diamond engagement rings:
Originally diamond engagement rings were NOT a common purchase except amongst the rich.
In the 1940’s De Beers Diamonds set about creating a need for their diamonds in the minds of their customers by Client Hacking and understanding a prospective customers deepest needs and desires. They understood that diamonds needed to be a must have item for all couples and what they did was create an illusion in the mind of the consumer that diamonds are in fact a symbol and proof of love. They understood that they had to appeal to all factions of society in terms of maximizing gross sales, with this in mind they focused on creating different ‘carat’ sizes that allowed couples of all income levels to have this enduring symbol of their love.
The early advertisements, they used conveyed the idea that giving a woman a diamond ring was in fact an affirmation of being a man of good earning potential and sound social status. These adverts were deliberately targeted at men, as ultimately they would be buying the items. Next on the list, was a series of ads targeting women, in these ads, they featured famous cultural landmarks, such as cathedrals. This clever advertising campaign, created a clear association between having a diamond ring and having an elegant church wedding. Product placement was next on the marketing list, with strategic placement of diamonds in films. These strategic product placements, promoted diamonds as the ultimate must have item for a newly engaged woman to have, in fact the advertising suggested, that any man who did not buy such a ring for his loved one, must in fact, not ‘really’ love her! The return on investment was almost immediate, the marketing campaign started in 1939 and by 1940, there was a 25% increase in sales, with a 55% increase in 1941.
For full article click: http://emmadmarketing.ie/marketing-diamonds-casestudy