In the competitive world of small business, it is critical to have a clear understanding of the customer journey and a well-defined strategy for providing value at every stage.
This is where the Customer Value Journey (CVJ), developed by DigitalMarketer.com, can be an invaluable tool for small business owners.
In this blog post, we will explore why small business owners need a Customer Value Journey and how it can be applied to the different stages of the customer journey.
What is a Customer Value Journey?
The Customer Value Journey is a framework that outlines the different stages that a customer goes through when interacting with a business. It is designed to help businesses understand the customer journey and identify opportunities to provide value at every stage. The CVJ consists of the following stages:
Let’s take a closer look at each of these stages and how small business owners can use the CVJ to provide value to their customers.
The first stage of the CVJ is Awareness. This is when a potential customer first becomes aware of your business and the products or services that you offer. At this stage, the goal is to capture their attention and provide them with valuable information that will make them want to learn more about your business.
Small business owners can use a variety of tactics to generate awareness, such as social media, online advertising, or content marketing. The key is to provide value to the customer at this stage, whether it’s through entertaining content, educational resources, or other incentives.
For example, a small business that sells organic skincare products can create a blog post that discusses the benefits of using natural ingredients in skincare, and how it can benefit the health of the skin. By providing this valuable information, the business can capture the attention of potential customers and position itself as an expert in the industry.
Once a potential customer becomes aware of your business, the next stage is Engagement. This is when they begin to interact with your business, such as by visiting your website, reading your blog, or signing up for your email list. At this stage, the goal is to capture their interest and provide them with even more value.
Small business owners can use a variety of tactics to engage with their customers, such as offering a free trial or demo, providing personalized recommendations, or offering exclusive content or discounts. The key is to continue to provide value to the customer and build a relationship with them.
For example, a small business that offers personalized nutrition coaching can offer a free initial consultation to potential customers. This can help them understand their needs and goals, and how the business can help them achieve their desired outcomes. By providing this personalized attention and value, the business can build a strong relationship with the customer.
The Subscribe stage involves getting the customer to subscribe to your email list or follow your social media channels. This is an important stage because it allows you to continue to communicate with the customer and build a relationship with them over time. At this stage, the goal is to provide them with ongoing value and keep them engaged with your business.
Small business owners can use a variety of tactics to encourage subscriptions, such as offering a free resource or tool, providing exclusive content or discounts, or hosting a giveaway or contest. The key is to provide value to the customer and make it easy for them to stay connected with your business.
For example, a small business that offers a monthly subscription box for health and wellness products can offer a free healthy recipe book to anyone who subscribes to their email list. By providing this valuable resource, the business can encourage customers to stay connected and engaged with their brand.
Once a customer has subscribed to your email list or followed your social media channels, the next stage is to convert them into paying customers. The Convert stage is the point in the customer journey where the customer makes a purchase (whether it is a one-time purchase or a recurring subscription), or trades their time (webinar or demo).
Small business owners can use a variety of tactics to encourage conversions, such as offering a discount for first-time customers, providing clear and compelling product descriptions, or offering a money-back guarantee. The key is to make the purchase process as easy and seamless as possible, while also providing value to the customer.
For example, a small business that sells handmade jewelry can offer a discount code to customers who sign up for their email list, and provide clear and detailed product descriptions that highlight the unique features of their products. By providing value and making the purchase process easy, the business can encourage customers to make a purchase and become loyal customers.
Once a customer has made a purchase, the Excite stage is where the focus shifts to creating a positive experience for the customer. This stage is critical for building customer loyalty and encouraging repeat purchases.
Small business owners can use a variety of tactics to excite their customers, such as providing personalized follow-up emails or messages, offering exclusive deals or discounts to repeat customers, or providing exceptional customer service. The key is to create a positive and memorable experience for the customer, which will encourage them to come back and make additional purchases.
For example, a small business that sells handmade candles can follow up with customers after their purchase to ask about their experience and provide additional tips on how to get the most out of their product. By providing this personalized attention and value, the business can create a positive experience for the customer and encourage them to make additional purchases.
The Ascend stage is where the focus shifts to encouraging customers to purchase higher-priced or more advanced products or services. This stage is important for increasing customer lifetime value and driving revenue for the business.
Small business owners can use a variety of tactics to encourage customers to ascend, such as offering upgrades or add-ons to existing products, providing personalized recommendations for more advanced products or services, or hosting exclusive events or webinars for loyal customers. The key is to provide value to the customer and make it clear how the higher-priced products or services will benefit them.
For example, a small business that sells online courses on nutrition and wellness can offer a premium course for customers who have completed their introductory course, with personalized coaching and additional resources. By providing this added value and encouraging customers to ascend to more advanced products, the business can increase customer lifetime value and drive revenue.
During the Advocate stage, satisfied customers become advocates for your brand. They are so pleased with their experience that they actively promote your business to others. Advocates are your most valuable customers, as they can drive significant traffic and revenue to your business through their word-of-mouth recommendations.
To encourage customers to become advocates, you must provide an exceptional customer experience throughout their journey. This includes offering high-quality products or services, responsive customer service, and personalized interactions. You can also incentivize advocacy by offering referral bonuses or loyalty rewards to customers who bring in new business.
In addition to encouraging advocacy, you should also actively monitor and engage with your advocates. Responding to their positive feedback, addressing any concerns, and showcasing their success stories can further solidify their loyalty and encourage more advocacy.
Ultimately, the Advocate stage is all about turning satisfied customers into powerful brand advocates. By focusing on delivering a great customer experience and fostering relationships with your advocates, you can drive more business and establish a loyal customer base.
The Promote stage is the final stage in the customer value journey, and it involves encouraging your existing customers to become promoters of your business.
In the Promote stage, the focus is on leveraging your existing customer base to generate referrals and word-of-mouth marketing. Small business owners can use a variety of tactics to encourage promotion, such as offering referral incentives, showcasing customer success stories, or hosting exclusive events or webinars for loyal customers.
The key to success in the Promote stage is to make it easy for your customers to share their positive experiences with others. This can involve creating shareable social media content, providing referral links or discount codes, or simply asking your customers to spread the word about your business.
For example, a small business that sells natural skincare products can encourage their customers to promote their business by offering a referral discount and creating shareable social media content that highlights the benefits of their products. By making it easy for their customers to share their positive experiences, the business can generate new leads and increase brand awareness.
The Customer Value Journey is a powerful framework for small business owners to understand and optimize the different stages of the customer journey.
By focusing on providing value at every stage, from generating awareness to encouraging advocacy, small business owners can create a positive customer experience and build long-term relationships with their customers.
Additionally, the Customer Value Journey helps small business owners to identify the areas where they need to improve their marketing efforts. By analyzing the results of each stage and measuring key performance indicators (KPI), small business owners can identify the gaps in their marketing strategy and make data-driven decisions to improve their results.
Overall, the Customer Value Journey provides a roadmap for small business owners to create a successful and sustainable marketing strategy. By understanding the needs and desires of their customers and providing value at every stage, small business owners can create a loyal customer base and grow their business over time.