Reach Capture Convert - A Treatise on How to Dominate a Market
February 28, 2015 at 10:47 AM
Reach more customers
Most customers are going about their day unmotivated to do anything special. They are advertised to through many reach tactics including Television Advertising, Radio Advertising, Magazine Ads, Word of Mouth or other mass market motivators that “wake them up” to desire to purchase something.
You need to understand that your competitors are also reaching those customers and motivating them also, spending their advertising dollars to do so.
Once a customer is motivated to buy they “race across” a capture field. In the old days they would go to the Yellow Pages to find a business that had what they wanted (and keep in mind most people search for what they want… not where you told them to go).
The strategy here, especially if you don’t have a mountain of advertising money, is to dominate the capture point. Google has now trumped the Yellow Pages as the dominant capture point so the companies that own the search engine rankings for each keyword phrase in a dominant way are effectively “stealing” the advertising money of all those companies that “reach out” because they are trapping the customers as they Google for the products they are now suddenly motivated to buy. This explains why Google has become so important to any business, whether you sell a product, a service, or even just need RFP candidates to send proposals to. They are all Googling to find your products and services.
Now that your competitors are “reaching” with their ad money and you are “capturing” those motivated customers and bringing them to your website… you need to still finish the job. Many customers need to still be convinced that your brand is better than the “default brand”. An example of a “default brand” is Kleenex. When you are ready to sneeze you don’t think to pickup a ScottTissue…. You always pick up a “Kleenex”… even if you are really picking up a ScottTissue. Brands like Coke and Kleenex and Starbucks command the “default conversion” from customers that aren’t being told otherwise. Our job is to convert them over to us and over time we may be able to dominate the “default brand.”
Once the customer enters your site, we need to be working hard to educate them and ease them into a purchase. We will discuss how to optimize conversions in other sections, but the basic tenet of converting them into customers is to make it a fair trade. If you ask for something, give them something back. If you ask them for a Credit Card number, give them a sense of safety and security that their transaction is secure… If you ask them to sign up for a newsletter, give them a white paper in return as a thank you… If you ask them for their address, let them know that their information is private and you won’t sell their information to advertisers. These steps will help you master the Reach … Capture … Convert concept.