Which Content Generates More Sales Opportunities?
The internet is a vast marketplace of 4.95 billion active internet users who spend an average of 6:58 minutes online daily. (DataReportal, 2022)
There are an estimated 12-24 million e-commerce sites worldwide, with 2.5 million based in the US. 81% of shoppers research a business online before purchasing, and almost one-third of all American business is done online (18% of business worldwide). (Zippia.com)
While these numbers add up to an incredibly huge opportunity to find new customers online, the sheer volume of internet data makes it challenging for a business to capture the attention of prospective buyers and make them aware of its products or services.
One of the more common ways businesses attract potential buyers is by posting educational content. Educational content attracts people who are experiencing a problem the business’s product or service solves. However, unless the product or service is relatively low-priced or it solves an urgent need, educational content alone is seldom enough to convince someone to buy.
The Problem With Relying On Educational Content to Generate Sales
Educational content gets you found but doesn’t make you stand out.
That’s because educational content –how-to guides, instructional videos, practical tips and tricks, FAQs, etc. – is often the easiest content for businesses to create, making it commonly available and largely similar between competing businesses.
So while this type of content can be helpful, it doesn’t enable prospective buyers to clearly differentiate one business from the next.
As a result, prospective buyers may postpone their buying decision until they can figure out a way to determine which is their best solution.
Alternatively, they may take a leap of faith and pick one solution over their other available options, and that solution may or may not be yours.
Most people would agree that relying on lady luck to make a sale is not a sound business strategy.
You Need To Provide A Clear And Compelling Reason To Buy
In order to stand out from your competitors, you need to provide prospective buyers with a clear and compelling reason why your product or service is better than everyone else’s.
This is often referred to as your unique value proposition (UVP). Your UVP includes the various features and benefits of your product or service, the overall customer experience you provide and why it will meet the buyer’s needs better than competing options.
The key to effectively communicating your UVP to prospective buyers is to explain how working with you will specifically improve their health, wealth or relationships (either romantic or recognition-based).
These are the 3 key areas people generally look to improve in their lives. People will therefore decide what your product or service is worth to them based on their perception of how much it could improve one or more of these areas of their life.
It’s not enough to say that you have the highest quality product or the most comprehensive coaching service. You need to explain how your product quality or comprehensive coaching will improve someone’s health, wealth or relationships better than any other option available to them.
Don’t assume people will figure that out on their own. Instead, make it as easy as possible for someone to understand the total value you provide so they can get excited about working with you.
Once you’ve delivered a clear and compelling argument about why you offer the best available solution, you’re in a much better position to close the sale.
But you’re not done quite yet.
Clear And Compelling May Not Be Enough
Even if someone understands your UVP and is excited about the value it would deliver to them, they may still hesitate to buy.
That’s because people have learned to be cynical about online promises made to them. There is so much information available on the internet that it’s difficult to determine what’s legitimate and what’s not. Particularly if someone has already been burned or knows someone else who had a bad experience, they will be less trusting of people they don’t already have a personal connection with.
An effective way to overcome people’s skepticism is through customer case studies and testimonials.
A study published in the Journal of Consumer Research back in 2011 found that people were more likely to buy a product when they saw that others similar to them had purchased and used it. Similarly, a 2013 Journal of Marketing Research study found that people were more likely to buy a product when they saw positive reviews from people who were similar to them.
Since then, these findings have become a well-established principle in Marketing known as “social proof.” Marketers know that social proof can have a powerful influence on buyer behavior and use case studies and testimonials to increase the perceived value of a product or service and reduce the perception of risk associated with it.
While case studies and customer testimonials are effective, true market leaders take it one step further by leveraging thought leadership to build authority and trust with potential buyers.
Thought Leadership Elevates You Above The Crowd
Thought leadership content helps establish you as an expert in your field.
Being recognized as an industry leader implies you have a high level of knowledge, which increases your credibility, authority and trust levels with customers and prospects.
This is one of the best ways to differentiate yourself from your competitors. When people are searching for solutions to problems, they are typically looking for expert help. The higher the cost of the solution, the more expert that help needs to be to maximize the chances of success and minimize the risk of an expensive failure.
In addition, thought leadership content is read and shared more often than other types of content because of the unique insights and perspectives it provides. And as it’s shared, the various social media and search engine algorithms will take note of the high engagement levels and begin distributing your content to an even wider audience. So you’ll be seen by even more potential buyers, further increasing your sales opportunities.
How to Create Thought Leadership Content
Thought leadership content provides new and innovative ideas, insights and perspectives on a particular topic or industry. It can be delivered in various ways, such as blog posts, whitepapers, videos, podcasts and webinars, to name a few.
When developing thought leadership content, identify one or more areas of expertise and consider how to best share your knowledge and insights with your target audience. Consider their most burning questions, the information they need to be successful, and their key challenges and pain points.
If you’re selling a product, here are a few topics to consider:
Industry trends and what these trends mean for the industry in general and your customers in particular.
Research and development advancements and the overall impact of ongoing product innovations.
Design and engineering principles behind the product and how they impact product quality and effectiveness.
Technical specifications and best practices for using the product effectively.
And if you’re selling a service:
Industry trends and their impact globally, nationally or locally.
Evaluation of the symptoms people are experiencing and the root causes of those symptoms.
Expert insight into the process and requirements for implementing the service most effectively.
Common misbeliefs, related implementation mistakes and how to avoid making them.
The Bottom Line
Educational content may raise brand awareness and generate leads, but it’s not particularly effective for producing sales. And while sharing your UVP (unique value proposition) may deliver a clear and compelling argument as to why you offer the best available solution, it might not be enough to convince skeptical buyers to pull out their credit cards.
Thought leadership content, on the other hand, will showcase your expertise and differentiate you from your competitors. By offering potential buyers an opportunity to learn through your eyes and experience an “aha” moment that enables them to envision how you can make their life better, you’ll dramatically increase your chances of closing the sale.
