By Merilee Kern, MBA
The retail industry crisis has been well reported, particularly with respect to dwindling foot traffic to brick-and-mortar stores. However, even as consumers turn to shopping online, it's shocking to learn that fully 97% of visitors to eCommerce and other sales-minded sites bail out without purchasing on their first visit. As concerning is that approximately 70% of shoppers who do add items to their online shopping cart do not complete the purchase. Amid improved consumer confidence, with the April 2015 confidence index of 95.2 well above April 2014's 81.7 rating, clearly there's a severe disconnect between vendors and the marketplaces they hope to serve—a situation resulting in some serious economic opportunity loss. These disparities are also among the biggest misperceptions that both online and offline marketers hold.
Far too many companies are churning out traditional sales lingo laced with fluff and vague, or entirely overinflated, claims, spending paltry little time and energy establishing credibility with prospective customers. The mission-critical nature of credibility cannot be overstated, as it establishes an organization's or brand's integrity, reliability, validity, soundness, and a host of other image-including indicators of an entity's moral and ethical code and the standards by which it operates. At the most fundamental level, credibility translates into trust, and trust translates into sales.
Today's consumer is quite savvy, but are often overloaded, over-committed, overdue for a vacation and, thus, easily annoyed. From telemarketer calls coming in at dinnertime or, worse, before the alarm sounds in the morning, an endless stream of spam e-mails jamming inboxes, and mailboxes overflowing with mail that proceeds directly to the recycle trash bin, statistics show that consumers can be bombarded with more than 300,000 messages every day. This overwhelming demand for attention and dollars has created a market filled with cynics, whose defenses are on full alert.
This heightened emotional state is working against commonplace sales tactics that are hyper-focused on getting to the close, rather than getting to know the consumer (member) and vice versa. Often, marketers fail to realize the membership sale begins and ends with authentic connection on both sides.
Consumers (members) need an advocate. Amid all of the marketplace noise, there is an incredible opportunity right now for customer-centric brands to cut through the clutter. One way to do this is by establishing credibility with consumers (members). Companies that do this effectively will most certainly amass market share.
Consumers go through different phases, such as interest, awareness and action, before transitioning to the buying stage. However, the successful marketer offers multiple ways to prove the company's (association's) credibility through meaningful and relevant engagements that will carry a consumer (member) through the emotional continuum of interest to final sale and referrals and recommendations to others beyond.
Here are four tactics critical to building a loyal client (member) base.
Righteous Reviews
Studies show that, in general, people like to do what others are doing, especially in situations where they feel insecure. That fact can be emphasized by another fairly understandable statistic: Customers are more likely to make a purchase from an entity that can produce favorable reviews about their product, service, company, association, or philanthropy. In fact, according to a survey conducted by Dimensional Research, an overwhelming 90 percent of respondents who recalled reading online reviews claimed that positive online reviews influenced buying decisions, while 86 percent said buying decisions were influenced by negative online reviews.
This can best be accomplished by deciphering what stage of the buying cycle the visitor is in, and then publishing or offering real and applicable reviews and testimonials allowing potential buyers to align themselves with others who have made purchase decisions, whether that purchase be membership, meeting registration, a teleconference, or even a donation.
And, given the different stages of the buying process, it's essential to showcase reviews and testimonials that touch on more than one aspect of a previous buyer's (member's) experience. Prospects want to know that the person who wrote the review really exists, so be sure to list real names (with permission of course), and, if possible, also job titles and the companies/organizations they represent.
It's also advisable for marketers to take proactive steps to encourage people to provide written reviews, whether through a dedicated webpage, a follow-up email or phone call, or a reminder next time they stop by your website.
The Science of Social Proof
Simply put, social proof is influence created when one discovers that others are doing something. While reviews and testimonials are two of the most persuasive forms of social proof as detailed above, there are other important considerations. We now know that—with the rise of Internet sales and social media—potential buyers can amass a great deal of information even before visiting a website. Endorsements from those within the profession or industry with a positive public image and wisdom of the crowds, can definitely provide the emotional risk relief needed to close a sale.
Social media also presents tremendous image opportunity. For example, Facebook is considered the most effective of the social media sites. "Likes" on Facebook are positive reviews about your association/organization and ultimately show potential users that your brand can be trusted. Another highly effective brand-builder is publicity. Being mentioned in the media (including trade press your members are reading) is extraordinarily effective as having your brand or association featured, or offering expert source thought leader commentary, is essentially an implied endorsement from the media outlet in which it runs. Of course, it's imperative to leverage these public relations wins in your membership marketing and/or development efforts.
Transparency Translates
The word "sales" has become synonymous with "hype." Modern consumerism is now based on transparency. This asks that we operate with openness, clear communication and accountability. A marketer that truly cares about the prospect's perceptions and experience will have nothing to hide. Ensure marketing speak has no hidden agendas or false promises, and that all who come in contact with your association gain a sense of (or have unencumbered access to) the organization's mission, vision, philosophies, environment, culture, and core.
Potential customers consistently rank customer service as the number one factor impacting vendor trust. While things sometimes go awry in business, people admire organizations more when they readily admit to a mistake and address the issue directly. The best way to adhere to full and complete transparency is to be mindful that you have a responsibility: one that fosters clear, open and meaningful exchanges with both prospects and established members on any subject they want to explore. It's definitely a winning path to a lucrative end, but transparency has to also be an end in and of itself.
Take Direction from Your Members
No matter what profession or industry you represent, your most precious asset is your existing member base. Why not intensely focus on their behavior and commentary (whether solicited or not), as you interact with them? Ask them for honest feedback. Motivate and compel them to provide it. It's the only way to gain a deeper insight into their thinking, how they feel about your association and what you can do to make their experience as a member better. This can be informal discussions or interviews, or anonymous surveys and polls that provide anonymity and can make subjects more comfortable to express their real thoughts and feelings.
What does your expressed desire to listen to your members say about your association? It tells them that you care; that you are serious about satisfying them; that you want to succeed; and, most importantly, that you're open to change. In this same vein, listening to employees can provide great value as well.
Being a credibility-conscious operation does not take a large budget. It largely involves not telling people what they want but rather listening to, and otherwise availing, what they need. If you provide valuable information—and uncontested access to it; offer a service whereby the care and quality is evident; rally existing members, partners, and other constituents to get on your bandwagon through testimonials, social media and the like; and consistently demonstrate top-notch service over a sustained period of time, your reputation alone may be enough to spur that coveted growth.
Merilee Kern, MBA, is Executive Editor of The Luxe List International News Syndicate. She can be reached at www.TheLuxeList.com, www.Twitter.com/LuxeListEditor, or www.Facebook.com/TheLuxeList.