In the last instalment I spoke about awareness in the buying cycle; where the customer becomes aware of their desire for travel. From there, the customer asks themselves the question of “so I want to travel, what next?”, which leads them to the next stage of the buying cycle – research. This is where they decide on how they want to travel and is one of the most important stages to engage with the prospect. Ultimately, you can join them on their journey and offer real value before you sell to them and really begin building up some relationship equity.
Relationship Equity
Relationship equity is another way of saying that you have established and successfully maintained a strong relationship with the prospect (not customer) before they even buy from you. They’re already invested in you be it as a fan, a follower or a brand advocate. You achieve relationship equity by giving value before asking for anything in return.
Don’t ask for opt-in straight away.
In the RV Industry, you can achieve relationship equity by starting a blog that offers useful hints and tips relating to travel, camp sites, towing, packing, road rules and so much more. Not only is this offering value to the prospect, but also setting you up as an expert in the industry.
Another way is to create a series of videos that teach prospects about various aspects of self-drive travel. Subjects could include “How to Tow a Caravan/Campertrailer”, “Off-road vs. Semi-Off-Road”, “Is Your RV Compliant”, Tare vs. ATM”, “How Much Power Will I Need”, “What to Ask Before Buying Your RV”, “Caravan vs. Campertrailer”, “Motorhome vs. Caravan” and the list goes on.
There are many ways to build relationship equity and it is super important to do so during the research stage of the buying cycle. It offers you the opportunity to prove your wares in terms of knowledge, expertise and consumer needs and expectation.
You need to be competent on the features and benefits of your products as well as in the use of your products on the road. Having a clear understanding of the laws, compliance, rules and regulations relating to the use of your products will help you instil confidence in those researching your brand.
Communicate it well and your prospects will soon become customers as your relationship with them increases in strength and engenders trust, confidence and ultimately loyalty as they feel obligated to purchase from you. You have provided a tonne of value upfront. You have educated them. You have informed them. Maybe, you have entertained them. All this adds up to relationship equity.
Quick recap.
Prospect is aware they want to travel. They have researched and decided they want a self-drive holiday. They have researched further to realise that there are varying options when it comes to RV – motorhomes, caravans, fifth wheelers and camper trailers.
Next, they need to decide what type of RV they want. This is where your videos or blogs can offer valuable insight. Subjects that come to mind are “What RV Should I Buy – Tips to Choosing the Right RV for You”, “Is a Motorhome (or Caravan or Campertrailer etc) Right for Me?”, “I Want to Go Off-Road – What Type of RV is Most Suitable”, “What Finance is Available for Purchasing an RV” and, the list goes on.
If you have content that answers their questions and it is delivered in a detached way, meaning, you’re not concerned if you get or don’t get a sale, then you are in a better position of securing at least an enquiry. You could even offer an opt-in that gives the prospect a free, no obligation 37 minute face-to-face consultation about self-drive travel in general and what type of RV’s work best for what. Instead of a face-to-face, maybe it’s a series of emails that get sent directly to them over 10-days – ten tips in ten days.
Let’s say the prospect chooses a camper trailer. Before they move onto the the next stage, they will start more researching more into your brand and product.
Remember in the first article I said “you need to make sure you’re on the shopping list?” Well, it is important to make sure you are where they are going to be. As hockey player Wayne Gretzky said…
“I skate to where the puck is going to be, not where it has been” – you too must display your brand where the prospect is likely to be.
In research mode, the prospect will likely read up on your product in editorial magazines such as Caravan World and Campertailer Australia. They may visit RV-focused websites such as www.caravanworld.com.au and www.campertraileraustralia.com.au.
These are places you need to be in addition to “owned content” on your website and social media platforms. Why? It builds further trust and confidence in your product as articles written by independent contributors represent third-party endorsement of your brand. This is also known as advocacy marketing – a voice of an authority brand talking about your brand. This brand association with publications and websites that already have high relationship equity with their readers will help increase the brand salience of your brand.
Brand Salience – degree to which your brand is thought about or noticed when a customer is in research mode or in a buying situation. Strong brands have greater Brand Salience.
As mentioned in my first article, editorial magazines, classified magazines, RV focused websites and classified sites are all places that prospects will often begin the research stage. Videos on YouTube are also where they may go to see the product in action – presenting yet another opportunity for you to get in front of the prospect.
Comparison
So finally, the prospect makes it to the next stage of the buying cycle – comparison.
This is really where you can begin to see the fruit of your labour during the research stage. If you have done it effectively and amplified (promoted) across the right platforms, such as print publication, video, SEM, SEO, PPC, Digital Display, Social Media, etc, then this where your efforts dictate “what brand” they compare.
It all goes back to the relationship you established with them and maintained from the beginning when they first became aware they wanted to travel. Take a moment now to think where your brand becomes one of consideration during the buying process. Is it from the beginning? Is it during the research stage? Maybe you’re not sure. You need to start depositing into the relationship equity account as soon as possible.
I know this may seem daunting and may seem like a lot of work, but, no successful brand got to where they are today without first working hard. Today though, it is much easier and there are professionals at the ready to help you in all areas, be it print, digital, video, editorial, integration, amplification, content strategy and more. You don’t need to do it all yourself.
Right, so now they are comparing products. This is again where you can peg yourself above your competitors. Remember all that great content you created earlier for the research stage? The blogs, hints and tips, videos etc? Well, you can do some of that here and relate it more to your product.
Subjects could be “Setting-up and Packing Up Your Camper Trailer”, “Towing Your Camper Trailer”, “Loading up Your Camper Trailer”, “Hitching Up Your Camper Trailer”, “Caring for Your Camper Trailer”, “Insuring Your Camper Trailer”, “Taking Your Camper Trailer Off-Road” and, again, the list goes on.
Do What You’re Good At – Leave the Rest to the Professionals
Content creation can be tricky and if you’re not great at writing or filming, it is best to engage someone who is. Someone who understands your industry and your customer is ideal, furthermore, someone who understands the platforms you intend to use. If you’re going to do any of what I’ve spoken about in my articles, you must do it properly… if you want to see the results.
Comparison is definitely a place where what you do in the first two stages of the buying cycle will determine what result, if any, you achieve in this stage.
Key Points:
- Make sure your brand is displayed in key publications and websites
- Make sure you have third-party endorsement of your brand/product. This includes testimonials from happy customers.
- Make sure you have created content that offers value to prospects before they purchase from you
- Make sure you have sufficient amplification of your content/brand online – via your website, social media, digital display, native advertising, retargeting etc
- Make sure content, be it video or written, is high quality, offers value, is aspirational, educational, entertaining and informing
- If you’re not good at content creation, engage someone who is. In fact, engage someone to put together a content marketing strategy for you before you hit go on anything
In my next article I talk about the final two stages of the buying process – Purchasing and Retention.
Until next time.
