Everything that abides by natural law obeys a formula – those formulae all lead to a specific outcome. Change one variable in these formula, and the outcomes differ wildly. Change one ingredient in a recipe and watch a tasty dish, turn sour.
Your customer acquisition abides by a formula too. Below, you can find your formula for happy customers, and examples of simple steps to help you break down and understand that formulaic success, or where and why you may be seeing drop off in your funnel.
Aspirational Connection + Aspiration Fulfilment = Successful, Happy Customers
If you can emulate a similar formula for your business, you’re following the right path.
Acquisition
Your first step is to connect with your consumer/customer. Create an aspirational relationship that your customer can buy into. For example, If you’re selling kitchen products, you don’t want to literally sell kitchen products. You want to sell the end idea, “a better way to clean your kitchen”.
Find your true point of value driven connection to your user, and exploit it.
Activation/Sales
Fulfill on your value point. It’s that simple. If you’re selling a “better way to clean your kitchen” than ensure that your product can actually back this up. Does your product genuinely decrease time to clean kitchens for the average household? If not, go back to the drawing board. Do not start acquiring users until you, and others around you believe and have validated this claim.
This is where most companies have a serious drop off. Often, businesses will jump the gun believing that they have solved their problem. And when you introduce a half-baked solution to a problem, a solution that does not “actually clean kitchens faster or better” you’re doing your brand a dis-service and opening up opportunities for your customers (or your formula) to fail.
Retention/Referral
If you’ve nailed the first two steps of your formula, you’ve successfully connected with the consumer on your value prop – and delivered on it, you’re in great shape!
Retention and referral based elements will come naturally, rather than in a manufactured manner – and this is because people found a value in what you pitched them in day one, that trust earns word of mouth from your customers.
The larger potential for your business lies in focusing heavier on filling the top of your funnel with successfully activating leads, rather than focusing on why your business isn’t retaining, or referring the existent experience. If it’s not retaining or referring, the first two steps of the formula are likely incorrect.
The formula is simple, the execution of it is hard.
Aspirational Connection + Aspiration Fulfilment = Successful, Happy Customers
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