Latest / What is Business Development? / Episode 114: How to Attract 5 Types of Consumers

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Episode 114: How to Attract 5 Types of Consumers · What is Business Development?

• 0:03
  Speaker 1: Welcome to the Business Development Podcast, brought to you by
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  Speaker 1: the Global Business Development Association, delivering the strategies and tactics
• 0:11
  Speaker 1: to boost your career and corporate growth.
• 0:20
  Speaker 2: Hello BD pros, and welcome to the Global Business Development
• 0:25
  Speaker 2: Association podcast called What is Business Development? Now? Let me
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  Speaker 2: ask you. Have you ever felt deep in your gut
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  Speaker 2: that people should be choosing you, but for some invisible
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  Speaker 2: reason they don't. Well, we're going to talk about that
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  Speaker 2: today with our guest, author of a fantastic book I'm reading,
• 0:45
  Speaker 2: and he's going to walk us through how we can
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  Speaker 2: get into a position where people choose us. Now, if
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  Speaker 2: you want people to choose you for your next business
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  Speaker 2: development role, then maybe give some thought to getting this book,
• 1:03
  Speaker 2: the Business Development Body of Knowledge, And this book is
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  Speaker 2: available on Amazon and you can read the book and
• 1:11
  Speaker 2: then take the Business Development Professional Certification exam at the
• 1:17
  Speaker 2: Business Development Association website that's Gbdassociation dot org. Okay, so
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  Speaker 2: let's talk a little bit about this book today. This
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  Speaker 2: is It's five Types of Consumers, Who they are and
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  Speaker 2: how to attract them by Ralph Carrasco. And Ralph's going
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  Speaker 2: to be joining us today. But let me tell you
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  Speaker 2: a little bit about what the book is about. Now,
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  Speaker 2: there are five types of consumers who can quietly control
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  Speaker 2: every yes, no, and maybe before you ever open your mouth.
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  Speaker 2: And once you see them, everything starts to change fast.
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  Speaker 2: Your message finally lands like a missile instead of a
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  Speaker 2: background noise or online present, and starts pulling in folks
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  Speaker 2: instead of pushing people away. Your confidence skyrockets because you're
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  Speaker 2: no longer guessing your ideal. Consumers start choosing you automatically,
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  Speaker 2: even over cheaper, faster options. Wow, well that sounds like
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  Speaker 2: a lot. And we're going to talk to our guest
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  Speaker 2: author today, Ralph Carrasco. He's the founder and a consumer
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  Speaker 2: psychology strategist, the first one we've had on the show,
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  Speaker 2: but he's our second Navy veteran, so it's always great
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  Speaker 2: to have a sailor back on the call. And Ralph
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  Speaker 2: has a long history of helping luxury brands treat them
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  Speaker 2: like assets and treat consumers instead of transactional, just treat
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  Speaker 2: them the best way possible. And his consumer psychology firm
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  Speaker 2: partners with premium brands to transform passive buyers into active advocates. Well,
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  Speaker 2: we always like to talk about turning our process and
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  Speaker 2: customers into active activists and advocates for it. Because as
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  Speaker 2: we define business development, the textbook definition that you will
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  Speaker 2: find in the Business Development Body of Knowledge is business
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  Speaker 2: development is customer and community advocacy that creates corporate growth. So,
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  Speaker 2: Ralph Carrasco, welcome to the show. Let's talk about how
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  Speaker 2: we can build some advocates for our brand.
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  Speaker 3: Thank you, Tony. I appreciate you having me on and
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  Speaker 3: I've been looking forward to this interview for quite a
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  Speaker 3: while now.
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  Speaker 2: Yeah, well, Ralph, so I mean, let me ask you
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  Speaker 2: the question I always ask other folks that join on
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  Speaker 2: the call. How did you enter this fascinating field of
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  Speaker 2: consumer psychology and business development?
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  Speaker 3: Writ large, candidly, shortest answer necessity. So my foundation in
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  Speaker 3: business development was candidly structured during my time in the
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  Speaker 3: US military. I found that, you know, under pressure, you
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  Speaker 3: have to be able to act quickly and decisively in
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  Speaker 3: order to accomplish the mission. From there, there's multiple variables
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  Speaker 3: that go into it. You know, First and foremost, I
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  Speaker 3: tell every new individual entering the military that eighty five
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  Speaker 3: percent of success is showing up on time with the clean,
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  Speaker 3: crisp uniform. From that point, when I exited in twenty ten,
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  Speaker 3: I actually purchased a franchise, and so from that point
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  Speaker 3: I felt as though that it was important to really
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  Speaker 3: develop skills for veterans' active duty my counterparts to help
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  Speaker 3: really cut the learning curve. So I've since twenty ten,
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  Speaker 3: sixteen years ago, I've really been on a journey to
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  Speaker 3: do that votary working with nonprofits, other business leaders in
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  Speaker 3: the community in which I'm in. It's been really interesting
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  Speaker 3: to see how business development on a relationship basis is
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  Speaker 3: so much more powerful than, as you just mentioned, being
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  Speaker 3: just a transaction situation. And this is what is the
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  Speaker 3: foundation of the book Five Types of Consumers for me,
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  Speaker 3: because you know, when decisions are clear, execution is just
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  Speaker 3: that much faster.
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  Speaker 2: Yeah, it is. And thank you for kind of walking
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  Speaker 2: us through that origin story your service in the Navy,
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  Speaker 2: and thank you for your service, by the.
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  Speaker 3: Way, welcome. I appreciate. I appreciate that.
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  Speaker 2: And you know what's great is you continue that journey
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  Speaker 2: of service service to business developers that are out there
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  Speaker 2: to help them learn, whether they're entrepreneurs or whether they're
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  Speaker 2: actually in a business development role, to succeed with the
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  Speaker 2: information that you've created. So let's talk about your book here,
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  Speaker 2: and let's start with the number one tactic from your book,
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  Speaker 2: the key takeaway that you want people to understand.
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  Speaker 3: So for me, when I was done with my franchise
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  Speaker 3: contract in twenty seventeen, I became a consultant and had
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  Speaker 3: been working through and insight of that world with law
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  Speaker 3: firms as you mentioned, luxury brands, auto dealerships, service businesses.
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  Speaker 3: And then in twenty twenty one, I got my real
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  Speaker 3: estate salesperson's license. From that point I used it to
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  Speaker 3: help people buy and sell businesses. The number one thing
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  Speaker 3: that I found is that when businesses have poor digital
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  Speaker 3: structure or poor online materials, for someone to look at
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  Speaker 3: the sale of the business or the buyer looking to
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  Speaker 3: purchase a business took that much longer because they don't
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  Speaker 3: know how to develop that stuff necessarily. And so what
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  Speaker 3: we would do is we would actually work with them
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  Speaker 3: ahead of time before entering market, or when they were
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  Speaker 3: ready to enter the market, we would structure quickly to
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  Speaker 3: help capture some revenue and then from that point help
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  Speaker 3: a new buyer come into the fold. Because the biggest
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  Speaker 3: thing is is you have to diagnose who the buyer
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  Speaker 3: is before engagement. Everyone just wants to throw everything at
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  Speaker 3: the wall. Right, you have people saying post one hundred
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  Speaker 3: times a day, do fifteen tiktoks and Instagram reels and
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  Speaker 3: all of this, and all of that, but the biggest,
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  Speaker 3: the biggest thing that I always bring to people's attention.
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  Speaker 3: Those videos are great. Yes, they create engagement, but if
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  Speaker 3: your digital property right, the places that people look at
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  Speaker 3: your business first, if that is not an alignment, you
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  Speaker 3: just waste it all your time.
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  Speaker 2: Yeah, absolutely, you know it's important that. And we've had
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  Speaker 2: so many guests come on the show and they start
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  Speaker 2: off with this as their number one tactic. Identify your
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  Speaker 2: ideal customer profile. Who are they, what do they think,
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  Speaker 2: what do they need? Where do they congregate? Where are
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  Speaker 2: they online? And I like what you're saying. It's take
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  Speaker 2: an assessment of who your customer is and then identify
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  Speaker 2: those digital properties where they are, where are they consuming content?
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  Speaker 2: You know, if you are in a you know, business
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  Speaker 2: to business type demographic, then it's probably something like LinkedIn
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  Speaker 2: or some other channel. It's probably not on some other
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  Speaker 2: channels that may be more consumer retail oriented. So that's
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  Speaker 2: a that's a very powerful lesson. So tactic number one,
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  Speaker 2: identify your ICP and the digital properties, the digital environments
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  Speaker 2: where they hang out.
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  Speaker 3: Is that right, yes, sir?
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  Speaker 2: Okay, great, let's jump into tactic and key takeaway number
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  Speaker 2: two from your book, Ralph.
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  Speaker 3: So the thing that I really identified was as a whole,
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  Speaker 3: I look at you know, marketing or business development as
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  Speaker 3: like a mountain, and so from that point, at the
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  Speaker 3: base layer, the foundation, you have to make sure that
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  Speaker 3: everything is in alignment for that sequence. How many times
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  Speaker 3: have you gone to go to a business, especially on
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  Speaker 3: a holiday weekend, and you think, oh, they're open, but
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  Speaker 3: yet they're closed, and you're mad and frustrated because you
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  Speaker 3: spent that time driving there, you ended up, you know,
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  Speaker 3: getting jazzed up thinking in your head what you were
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  Speaker 3: going to order, and from that point you just assumed
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  Speaker 3: that they were open because they took hold of that information.
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  Speaker 3: It is so powerful to ensure that you are making
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  Speaker 3: those foundational pivot points for consumers as smooth as possible,
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  Speaker 3: because if there is any friction, that is how you
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  Speaker 3: start getting those negative reviews or people frustrated with you,
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  Speaker 3: to the point that you could spend I mean decades
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  Speaker 3: working with somebody and if all of a sudden they
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  Speaker 3: need you or they want you at a key specific
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  Speaker 3: time and they think that you're open and you're not,
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  Speaker 3: and then that creates that friction and then all of
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  Speaker 3: a sudden that turns into them not calling you or worse,
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  Speaker 3: leaving a negative review. And the biggest part of that
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  Speaker 3: is Tony. Less than five percent of people actually describe
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  Speaker 3: their experience about a business online, and that is why
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  Speaker 3: it is so important to ensure that those items are
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  Speaker 3: dialed in, because the last thing you want is someone
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  Speaker 3: just to go on you know, your Google or your
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  Speaker 3: Yelp or other site and leave a one star and
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  Speaker 3: something along the lines of they should update their hours
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  Speaker 3: of operation because they're closed today, just because they're mad
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  Speaker 3: and they're emotional, not you know, discounting everything that you've
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  Speaker 3: done for all of those years.
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  Speaker 2: Yeah, and you know, Ralph, people talk so much about
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  Speaker 2: customer experience, but what we're talking about here is the
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  Speaker 2: prospect experience. Yes, customer experience is absolutely critical. I'm not
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  Speaker 2: trying to diminish that, but the prospect experience is also critical.
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  Speaker 2: And actually studies have shown that the prospect experience has
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  Speaker 2: more to do with customer retention. Retention this means they've
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  Speaker 2: already become You've already converted them, They've become a customer.
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  Speaker 2: This is yours down the road. How you made them
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  Speaker 2: feel in the initial phases of the customer journey during
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  Speaker 2: the activation phase, between the time that marketing caught their
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  Speaker 2: attention to the time that they were converted into a
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  Speaker 2: client in the conversion phase. That activation phase is more
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  Speaker 2: important in their decision process to stay with your company
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  Speaker 2: later on. And so I really like how you emphasize
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  Speaker 2: the fact that you have to really smooth out that
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  Speaker 2: entire prospecting prospect development process during the activation phase. And folks,
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  Speaker 2: Ralph and I were joking together as two former sailors
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  Speaker 2: about how in the Navy we were so process oriented.
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  Speaker 2: We have checklists for pretty much everything. And so walking
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  Speaker 2: through the process, put yourself in the shoes of your prospect.
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  Speaker 2: Have that empathy to say, Okay, how are they feeling
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  Speaker 2: at this point? Is there too much friction? Can we
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  Speaker 2: eliminate some of that friction? What can we do to
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  Speaker 2: make it so easy? Where is that easy button in
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  Speaker 2: the prospecting process? Okay, Ralph, that's a super powerful uh
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  Speaker 2: takeaway from your book? What's number three?
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  Speaker 3: So with all of that, and to your point. I
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  Speaker 3: really emphasize and focus on engineering that trust before that
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  Speaker 3: conversion point because many times where business is and especially
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  Speaker 3: local business, I am a huge advocate for local business
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  Speaker 3: nationally in America and globally around the world because the
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  Speaker 3: biggest elephant in the room is Google. It is a
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  Speaker 3: globe behemoth and if your business is not listed on
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  Speaker 3: Google around the world, you're lost everywhere from the Middle
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  Speaker 3: East to Hong Kong, Tokyo, Sydney, Kuala Lumpur. It is
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  Speaker 3: important that your Google profile is dialed in and that
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  Speaker 3: is why everything must be engineered, just like in the military,
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  Speaker 3: by engineering your success, by taking a concentrate role on
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  Speaker 3: what does your logo look like, is it memorable, what
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  Speaker 3: are your brand colors? What is the vibe that you
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  Speaker 3: give off? How do you engage with the consumer? Because
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  Speaker 3: business owners, right and Tony, you know the statistics about
• 14:53
  Speaker 3: the failure rate of businesses, and the biggest component is
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  Speaker 3: you'll know you'll have somebody save up two hundred and
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  Speaker 3: fifty thousand, five hundred thousand dollars to open or launch
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  Speaker 3: a business, and they get meticulous down to the tenant improvements,
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  Speaker 3: making sure the logo, the website, the food everything is
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  Speaker 3: beautiful when you walk into the building or the business.
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  Speaker 3: There's a beautiful sign, there's graphics on the door, maybe
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  Speaker 3: on the napkin, it may be on the attire, but
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  Speaker 3: they disregard the very first place that any consumer looks,
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  Speaker 3: and that's right here. And they're neglecting to engineer the
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  Speaker 3: most important aspect because most people aren't going to drive
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  Speaker 3: by your business and give you a consideration whether they
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  Speaker 3: see a billboard, a marketing flyer, an advertisement, They're going
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  Speaker 3: to look you up online first, and if you haven't
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  Speaker 3: engineered yourself, just like the beauty of USS Kitti Hawk, right,
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  Speaker 3: how these aircraft carriers, these multi billion dollar vessels are
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  Speaker 3: engineered to the smallest component. You have to do that
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  Speaker 3: with your business. And if you don't, well that's when
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  Speaker 3: you let the internet trolls take hold and then that
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  Speaker 3: five percent starts swaying the other ninety five percent because
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  Speaker 3: you didn't make it an active priority for your success.
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  Speaker 2: Yeah, yeah, you know, you have to work on the
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  Speaker 2: visibility piece. You have to be prominent and then ensuring
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  Speaker 2: that the process from awareness into the activation phase into
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  Speaker 2: the prospect development phase, that that piece is there too. Right,
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  Speaker 2: So you're kind you're kind of engineering all of this
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  Speaker 2: from step one to step two to step three. Now
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  Speaker 2: before we get to the summary of the top three
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  Speaker 2: takeaways from your book, Ralph, And again, folks, if you're listening,
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  Speaker 2: I'm showing a cover of Ralph's book. It's five types
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  Speaker 2: of consumers? Who are they? And how to attract them? Now, Ralph,
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  Speaker 2: can you give us a little hint about who these
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  Speaker 2: five different consumers are. I don't want you to give
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  Speaker 2: too much away from your book because I know there's
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  Speaker 2: a lot in there, but can you share a little
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  Speaker 2: bit of who these magical consumers are?
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  Speaker 3: Yeah? So, the biggest component is that the writing style
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  Speaker 3: of the book is as if it was a standard
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  Speaker 3: operating procedure from the military. I wrote it in very
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  Speaker 3: plain language so it's easy to consume and also reads
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  Speaker 3: kind of like a manual. So then that way people
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  Speaker 3: actually want to read it, have success and go back
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  Speaker 3: to it, and then use it as a resource guide.
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  Speaker 3: As far as the consumer types, I'll do it quick
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  Speaker 3: because I've got it pretty much mastered down. Is where
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  Speaker 3: first and foremost you have that coupon clipper or that
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  Speaker 3: price sensitive shopper. Then you do the star counter. They
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  Speaker 3: look at who has the most five star reviews, and
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  Speaker 3: from that point, how high is the rating, and then
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  Speaker 3: they'll choose that business. Then you have the socials. The
• 18:14
  Speaker 3: socials will look at who has the most reviews, who
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  Speaker 3: has the best rating. But then they want to see
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  Speaker 3: the imagery because the human mind processes images sixty thousand
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  Speaker 3: times faster than text. Well, then right after that it
• 18:29
  Speaker 3: rolls into what I call the researcher. You won them
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  Speaker 3: with this, with the amount of reviews you have, You
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  Speaker 3: got great photos. Now I want to know a little
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  Speaker 3: bit more, Right, what's the process? Like who are you?
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  Speaker 3: Are you licensed? Like do you have gluten free options?
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  Speaker 3: Are you able to help me on the weekends? Right?
• 18:48
  Speaker 3: Are you available if I got a question about my
• 18:51
  Speaker 3: legal matter? Right? Like they you want to know the
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  Speaker 3: nuts and bolts. And then the very last one, the
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  Speaker 3: thumb right or the chin I call them, is the librarian,
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  Speaker 3: because the librarian will research every scrap of DNA on
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  Speaker 3: you before they make a decision, because they might have
• 19:09
  Speaker 3: been burned, they might have had a bad experience, they
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  Speaker 3: may just not trust people. They may be a baby
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  Speaker 3: boomer who candidly they're using the Internet to make decisions.
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  Speaker 3: Now faster than any other demographic. And from that point
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  Speaker 3: they are able to bring all of their resources together
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  Speaker 3: to make the best decision because they are your long
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  Speaker 3: term super advocates. So that's them in a nutshell. And
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  Speaker 3: then in the beginning, I have what I call peer thinking,
• 19:40
  Speaker 3: which is a mindset shift on how to incorporate all
• 19:44
  Speaker 3: of this combined with IID activity, which is the force
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  Speaker 3: multiplier from that mindset shift.
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  Speaker 2: So yeah, well, you always have to throw in a
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  Speaker 2: very good acronym if you're speaking in military talk, right,
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  Speaker 2: I'm glass you threw that one in there. Folks, you're
• 20:03
  Speaker 2: gonna have to get yourself a copy of Ralph's books
• 20:06
  Speaker 2: to figure out what that acronym actually means. But again,
• 20:10
  Speaker 2: it's the five types of consumers, who they are, how
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  Speaker 2: to attract them by Ralph Carrasco, US Navy veteran. It's
• 20:17
  Speaker 2: available on Amazon. Ralph, if I could let me just
• 20:21
  Speaker 2: summarize what we talked about today, the top three takeaways
• 20:24
  Speaker 2: from your book. Number one is understand your ICP and
• 20:30
  Speaker 2: know the digital places where they congregate and speak to
• 20:35
  Speaker 2: them there. The second key takeaway is really fine tuning
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  Speaker 2: that prospect development experience, that activation phase where they identify
• 20:48
  Speaker 2: a need. And now these five different types of consumer
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  Speaker 2: archetypes are starting to evaluate your brand and you are
• 20:57
  Speaker 2: nurturing them and building trust. It has to be perfect.
• 21:01
  Speaker 2: And then the third key takeaway is really that handoff
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  Speaker 2: between the marketing and business development, the brand awareness phase
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  Speaker 2: to the activation phase. You have to have simple things
• 21:17
  Speaker 2: like your presence on Google search engine. You should also
• 21:22
  Speaker 2: come up in various other search engines. These are the
• 21:26
  Speaker 2: fine details to make sure that you are present in
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  Speaker 2: the marketplace so that your consumers, your ideal customer can
• 21:35
  Speaker 2: find you, engage with you, and buy from you. Ralph,
• 21:39
  Speaker 2: did I miss anything in the summary?
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  Speaker 3: You got it covered, sir? Sound good?
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  Speaker 2: Yeah well, thank you and Ralph, how can folks follow
• 21:47
  Speaker 2: your work connect with you.
• 21:51
  Speaker 3: So they can check out our publishing company and Precision
• 21:55
  Speaker 3: dot Com Five Types of Consumers dot Com as well
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  Speaker 3: is available and then people can also just find us
• 22:05
  Speaker 3: at Carrasco dot Consulting where we offer our insights to
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  Speaker 3: local business owners, regional business owners, global business owners working
• 22:18
  Speaker 3: with franchises as well as multinational corporations.
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  Speaker 2: Yeah well, Ralph, thank you for everything that you do
• 22:28
  Speaker 2: for the profession and folks reach out to Ralph. He's
• 22:32
  Speaker 2: a great shipmate. When you have a question a need,
• 22:35
  Speaker 2: he'll welcome you aboard and help you down down the pathway.
• 22:41
  Speaker 2: And Ralph, thank you so much for sharing your insights
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  Speaker 2: with us today. Sharing your book again, folks, one more time.
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  Speaker 2: It's five Types of Consumers, Who they are and how
• 22:49
  Speaker 2: to Attract them by Ralph Carrasco. It's available on Amazon.
• 22:54
  Speaker 2: Ralph Carrasco, thank you for joining us on the show today.
• 22:58
  Speaker 3: Thank you, Tony, I appreciate your time. I'm in the inclusion.
• 23:03
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• 23:07
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  Speaker 1: advancing the art, science, and ethics of the business development
• 23:16
  Speaker 1: profession at Gbdassociation dot org.