Seth's Blog: Needs don't always lead to demand

Seth's Blog: Needs don't always lead to demand

Great post from Seth Godin today about understanding the difference between what consumers need and what they want and how businesses and organizations can choose to respond.  Good, quick read.

The Attraction Economy

You've heard it before, but you may have forgotten it:  Now, more than ever, customer loyalty matters.  It is far more expensive to acquire new customers than to keep & grow existing ones.  When budgets are tight and consumers are spending less, this is even more important for your organization to keep in mind.   And when you do spend on customer acquisition & engagement, spend on those tactics that attract customers who will stay with you for the long-run.  This means you can't keep offering 25% off to meet your revenue goals because you will end up with more price-sensitive consumers who won't be willing to pay full price in the future.  
The key is to "draw" consumers in with your brand in such a way that resonates with them on an individual basis.  Need help defining your brand or understanding how to draw in customers with your brand?  Email me for help.