We have all heard of customer value optimization but for the ones not familiar with it, it is the key to any business or nonprofit strategy and the key to be successful. How? We have lined up 3 main steps for customer value optimization to follow and change your digital strategy to better marketing.
1- Determine Your Market Fit
It is the most important aspect of customer value optimization! You must find and have a group of customers who are willing and able to buy your products or services:
First and for most, to build a business around a market you must determine:
- Is the market big enough?
- Is the market monetizable?
1- To determine if the market is large enough you should look for an average of 30,000 or more results in Google Search, blogs, Facebook pages, forums, email newsletters, organizations, ...
2- To determine if the market is monetizable you must look for direct competition, indirect competition, affiliate offers, advertisers, gurus, e-commerce, ...
2- Choose a Traffic Source
To choose a traffic source that matches your business or nonprofit and customers you must first thing of your buyer's journey and where your audience stands in the buying process. To understand buyer's journey please refer yourself to our previous blog posts: create content marketing with a purpose and get a successful inbound marketing strategy.
To choose a traffic source you have to think of a way to acquire new customers, sell to them and sell them often. A few examples of traffic sources include email marketing, blogging, ads, SEO, organic and paid advertising, etc... Remember you traffic source are directly related to where your customers or donors are in the sales funnel.
3- Lead Magnet
Think of your lead magnet as a transaction. It is a bribe that gives value to a prospect donor in exchange for their contact information. You have to provide great value on your lead magnet; a lead magnet is offered on a web page or landing page to convert your cold traffic into leads and turn leads into customers. The lead magnet is at the top of your Customer Value Optimization funnel and should be the main element your prospect customers or donors see on your landing page, so be creative!
Thank you for reading our article on customer value optimization part 1, remember determine your market fit, choose a traffic source and create an innovative lead magnet!
If you need help with your customer value optimization for your nonprofit contact us today!