Prepaid Card Co's – Targeting NEW Segments Online With Pain Based Selling
Many prepaid card companies are finding their industry to be highly competitive with considerable pricing pressure and less opportunity to differentiate. Rather than continue to focus exclusively on existing market segments, they are considering expanding their product reach into new applications (i.e.. new segments).
Prepaid Card Products – Versatile and Adaptable
Your company has likely considered new target segments or niches which could benefit from a prepaid card product. The core capabilities of a prepaid card make it very versatile and adaptable to different applications. Change of marketing and packaging can create a new offering without engineering a new core product.
So the first choice is pursuing new segments for your existing products. But what’s the key to success in this endeavour: its pain based branding, packaging and selling.
In This Article Part 1: Pain Based Selling To Reach New Segments
New segments typically don’t connect your prepaid card products with their pains / needs. This is particularly true if your product category is more strongly associated with other applications or segments. So as prospects in new segments seek help for their pain areas, you need to reach them at the level of that pain. When they search for solutions on search engines or other resources, your product needs to appear as a relevant option for them to consider.
How Does Your Company Undertake Pain Based Selling?
The two key components of Pain Based Selling are 1) reaching prospects using pain based messaging and 2) connecting your products to their pains using pain based selling.
- Reaching Prospects Online: Starting with a strong set of options, your company should focus on selecting keywords which are most likely to be used by prospects in your new target segment.
- Selling Through Pains: When prospects reach your website, they should immediately sense that there is a relevancy to their pain areas and needs. This means that your content strategy should be specific not general and very tightly targeted to the areas of importance to the new segment of potential cardholders.
Pain Based Selling To New Segments: Start On Your Website
Your website is an ideal vehicle for Pain Based Selling (to an new segment). It allows you to experiment and test new content around your existing products while creating targeted sections of your website for the new segments you are trying to reach. These focused new sections are very powerful for creating a specific experience — in contrast to taking them to the main section of your website which will continue their perception that your products are not connected to their needs.
This website (webstrategycompany.com) is brought to you by AftertheNet (www.afterthenet.com), a different kind of website services company. We take an industry specific and research oriented approach to building expertise in web strategy. To learn the four levels (ideas, planning, execution and fine-tuning) at which we can help you to achieve your business goals using your online presence, please visit www.afterthenet.com.
