Are You Chasing New Customers or Attracting Them?

I am going to talk today about the specific difference between chasing new customers and attracting them. It is my hope that by the time you reach the end of this column, you will agree that the latter is better!

For most companies, the “chase” begins with advertising. A typical “Chaser” will run an ad (magazine, radio, social media, etc.) and wait for prospects to respond. While this method has been successful in the past, the evolution towards the desire to acquire like-minded customers is changing the dynamics of recruiting for new customers. An “Attractor” understands the long-term value of creating an environment or trust in the relationship and is willing to invest the time to create that trust.

The reason for the change is simple; the number of ads that a consumer is bombarded with makes it more difficult to get the consumers’ attention to accurately assess their options. I call this “option shock”…how often can i hear that this choice is the cheapest and quickest? Can’t only one choice be least expensive? Do I REALLY want to buy from the cheapest?

This actually lowers the trust factor that a growing number of consumers have in the ads that they observe.

When a paradigm shift takes place from being viewed as a “technician” in your field to more of a “trusted adviser”, like-minded consumers become more attracted to your product or services, placing lower regard on price and more on value. As a result, your business becomes the only logical choice and resistance to price is greatly diminished.

Let’s take a look at the three distinct phases of consumer attraction…they are #1) Attraction, #2) Engagement, and #3) Follow up. Chasers tend to be confused, impatient, or incompetent regarding #3. Attractors understand the importance of that important step in creating trust.

The Chaser likes the concept of running an ad, getting a call, giving a quote, and closing the sale. If the close doesn’t take place quickly, the Chaser moves on to other prospects, continuing to look for, and desire, the quick sale. Chasers will plow through prospects like a tornado, not spending much time following up in the quest for the close. Chasers tend to go from one marketing program to another, being on a constant search for the “easy button”, that program that is going to generate phone calls from hungry consumers desiring to buy the Chaser’s product or service. (Note to Chasers…it is not out there).

Attractors, on the other hand, enjoy building the relationship through follow up. They realize the long term value of having a trusted relationship with their customers, realizing that this trust will last through prices and problems.

Look at your business and ask this question…is my business involved in programs that would attract the consumer that I want to do business with to become interested? Will they be willing to discuss, or even participate, in a cause that I believe in? Or am I simply interested in tearing through prospects until I get one to say “yes”?

If you said “yes” to the second question, welcome to the Old School.