Service Marketing Concepts

If You Market Services Make Sure You Take Advantage These Crucial Components Of Marketing Services
The following are the five essential components in marketing and selling services which you should use in your marketing:

1. Risk Reversal
One of the most important marketing approaches in service marketing is for the company to minimize the risk for new customers. If the customer sees no risk in buying a service, your conversion rate will be drastically higher. The risk can be minimized with guarantees and risk reversal strategies. Money back guarantee along with warranties minimize the risk for the customer and encourage new customers to try the service regardless of the uncertainty.
2. Social Proof
Another important element in service marketing is social proof. This helps prospects learn more about the service features and benefits from other customers who have similar needs. Testimonials, case studies, social media channels, references, etc. help new customers make informed decisions. Today, with the growth of social media, learning about companies and their services is very easy so take part in these channels and continuously monitor your company and brand mentions.
3. Expertise
Demonstrate expertise and experience. Showing your potential customers that you understand their needs and know what you are doing is critical for successful service marketing. When your service features and benefits are ideal fit with your customers’ needs and you are able to communicate this effectively the marketing process is more successful. In marketing and selling services to companies (B2B), understanding the customer business is a must. Once your prospects see that you understand their business needs, issues, pain, opportunities and their business objectives, they’ll give you a chance to show what you can do for them.
4. Target your Ideal Customers
When you target your ideal customer, your marketing will improve drastically. When you sell your services to your ideal customer your marketing message is more effective, your service benefits are a perfect fit with the customer needs and you are able to grow your business faster. On the other hand, marketing services to customers who are not your ideal market segment takes more time, it is less effective and you are not able to charge the right price for your services. The reason is simple – they don’t see much value in the benefits of your services.
5. Targeted Lead Generation
Identify the most effective ways to attract new customers (later we go in more details on this). Your lead generation process should focus on the channels, promotions, activities and tactics which allow you to communicate directly with your target market. Regardless of whether it is paid advertising, referrals or social media marketing, you should be able to communicate your value proposition directly to the end users.