Remember the Three Little Pigs?
The first little pig built his house out of straw because it was the easiest thing to do. Convenient, but short-sighted.
The second little pig built his house out of sticks. Slightly stronger than a straw house, but still insufficient in stability.
The third little pig built his house out of bricks.
The wolf was able to blow down the first two houses but, the brick house, which took longer to build, never fell down. Unlike the first two, the third pig lived a happily ever-after.
Wouldn't you love your revevue stream to be a Brickhouse?
In a weak economy, businesses use every trick in the book to attract customers. ‘More sales fast‘ is the focus, yet the process of a 'quick-fix' is only an illusion of productivity. This is called the "transactional approach" in business.
The irony is, 80 percent of your business comes from repeat customers. In other words, building solid relationships is fruitful now, and in the future. This is called the "relational approach" and is the more productive means of business relationship management. It is the key to revenue stability and growth. Let’s look at the differences:
Transactional Customers
- have limited interest, and are only focused on the purchase or transaction at hand
- are driven by price and personal convenience
- have no brand loyalty
- generate the lowest ROI of the two
Relational Customers
- do not base their purchase decision solely on price
- are interested in interacting with a business they trust
- are willing to establish a long term relationship with a company after a positive experience
- are loyal to brands and companies with whom a relationship has been established
- include customer service and quality in their purchase considerations
We live in a society flooded with distraction: it is easy to get lost in the wasteland of facebook/smartphone/twitter, white noise. The ideal scenario is to capture and maintain customer attention/loyalty in this age of saturated, over-communication.
Radio Can Increase Relational Customers
Radio offers the unique opportunity to own, and I literally mean own, any size of audience. This means listeners actually believe and feel, your business, regardless of location, is a part of their local community. Emotional experience is heavily sound-driven. When the radio-voice of your business offers a unique message, this advertising strategy, breeds familiarity, trust, and awareness around you and your products on an emotional level within the listener.
Once you attract a new client, it is up to you to solidify these relationships.
Check out the video, narrated by Tim Miles, that shows the benefits of Relational Shoppers.
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