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The Customer Value Journey is an 8 stage journey that people travel as they discover your brand, build a relationship with you, and become buyers and raving fans. … Left to themselves, customers will get lost along the way, stall out, or forget they ever started on a path with your brand.
Marketing is simply articulates the movement from ‘Before’ state to the ‘After’ state.
Are you ready?
Here are the four strategies; Lead Magnet, Tripwire Offer, Profit Maximizer, and Return Path. The structure is called Customer Value Optimization process described by Ryan Deiss of Digital Marketer.
1st Lead Magnet
A lead magnet is an incentive that marketers offer to potential buyers in exchange for their email address or other contact information. The goal of the Lead Magnet is used to maximize the number of targeted leads you are getting for an offer. “The perfect Lead Magnet will offer tremendous value within five minutes of the opt-in. “Lead Magnets don’t have to be lengthy.”
Tips:
- Specificity of Benefit
- Offer a Specific Shortcut
- Answer Specific Question
- Deliver a Specific Discount
- Finding the most attractive offer
- Landing Page Checklist ‘Logic sequence’
2nd Tripwire Offer
A tripwire is an irresistible, low priced offer that’s sole purpose is to convert an audience into customers. This small offer helps accelerate the buyer’s journey by letting customers dip their toes in without having to make a big purchase. Low priced offer that’s sole purpose is to convert an audience into customers. People might sometimes join your email list but might not want your core offer.
Examples:
- Physical Premium (Credit Card Knife)
- Accessories (iPhone cases, Guitar picks, etc.)
- Book/Report (free PDF of X company)
- Free/Paid Webinar/ Teleseminar (Guide, handy tips and tricks)
- Free Subscription (Spotify Music)
- Software/Plugin (Automation software)
- SPLINTER, Offer part of core Service/Product (Fiverr offer WordPress)
3th Profit Maximizer
A Profit Maximizer has one primary goal – to increase the average transaction value of your customers. More specifically, a Profit Maximizer is a Tripwire. Offer a Core Product; Offer a Profit Maximizer; Create the Return Path. Typically used to immediately raise the average transaction value, resulting in immediate ROI.
Examples of Profit Maximiser:
- Immediate Upsells
- Cross-Sells
- Slack Adjusters
- Bundles and Kits
- Subscription ‘recurring billing’
- Line Extensions
- Speed and Automation
4th Return Path
The Return Path, which you might have guessed is how a prospect finds their way back to your website and converts into a customer. Allow prospects and existing customers to enter new funnels that are likely to be of value to them. This is vital to understand because all marketers and entrepreneurs are at. A Core Product; Offer a Profit Maximizer; Create the Return Path. The Return Path has two goals: Maximize the average value of customers (ACV) that enter the funnel but don’t take all the offers and increase the frequency by which an existing prospect or customer enters new funnels.
- Constant reminder ‘Email, Social media platform’
- Exist Offers ‘FOMO’
- Retargeting Offers ‘internet cookies. Target ads’
- Full funnel Retargeting
- Automated Email Follow-up ‘Mail chimp’
- Indoctrination
- Engagement
- Ascension
- Segmentation
- Re-engagement
Next time you are looking at a brand and seeing things, take the time to think about the process that was created. How long it took the company to put together and try to imagine creating something similar for yourself.
Relevate is a Marketing Automation and CRM consultancy that helps people to leverage themselves in their business via the use of technology.
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