Category: Client Retention

Get People to Talk About You The Way You Want

Get People to Talk About You The Way You Want

In the last post, we started our series on word of mouth and talked about making your customers purchasing experience a short, easy one. We are going to continue with that theme a bit today. We will talk about the power of word of mouth and how to mold it to your advantage.

The reality is everyone needs an advisor to guide them to make a decision. We rely on the expertise of others to make the right decisions as they are explained to us. When you take the time to understand exactly what and how word of mouth works, you’ll see all the great advantages it has to offer you. Remember this path when working to understand word of mouth:

  • Accelerate the decision-making process for increased profits.
  • You can accelerate product-making decisions by making the process easier. For example, try delivering on your word-of-mouth promises instead of low-ball advertising and the used car salesman approach.

Traditional advertising draws about one response for every thousand ads, and most of those are to ask for more information before the customer even considers purchasing. When you get information from a friend, you are more likely to take their word for it and act. On average, customers purchase two out of every five recommendations their friends make. That’s a HUGE difference.

So, what exactly is word of mouth? We know how powerful it can be, but to define it: Word of mouth is a communication between a customer and a potential customer. There is usually a relationship of some kind between these two people with an established level of trust. 

Now, compare this to advertising where you are providing a message to a potential customer who has not established a relationship with you or level of trust. Who are they more likely to take advice from? The answer is clear!
We talked above about the benefits of word of mouth now; let’s take a look at some reasons why it works. Some of these are:

  • The information is custom-tailored to the potential customer because of the friendly relationship of the referrer.
  • It’s more personal, relevant, and believable.
  • It’s customer-driven.
  • It’s self-generating and can take on a life of its own, especially with the information age of the Internet.
  • It becomes part of the product’s description.
  • The source of word of mouth can be meaningful and more effective when coming from an expert.
  • Word of mouth saves you time and money. 

To fully utilize word of mouth, you need to understand:

  1. Where is your word of mouth coming from?
  2. What products or services are being affected by word of mouth?
  3. How is your word of mouth traveling?

Once you know these things, you can work out a plan to trigger more word of mouth. This wraps up this lesson on word of mouth. If you need help understanding word of mouth and how it can impact your business, try our FREE test drive to access our wealth of resources and tools.

Next time we’re going to dive into the nine levels of word of mouth. These levels help you understand which word of mouth is positive and which is not.

10 x Your Resources to Maximize Your Results Part 2

10 x Your Resources to Maximize Your Results Part 2

Resources are tremendous, but results are better. Every business has resources, but very few can put them to the best use. Last week we spoke about the three strategies for maximizing your resource, and they were: 

  1. Call in the Troops; using your current customers.
  2. Bring ‘Em Out of the Woodwork; the power of a referral system
  3. Black Sheep Clients; reactivation of previous clients. 

Today we’ll talk about the following three:

  1. Olympic-Size Sales Staff
  2. Open Water Fishing 
  3. Call for Back-Up

Olympic-Size Sales Staff

Now we all know you can’t have a sales staff of 10,000 who work around the clock for free, but there is a tool that will do precisely that-direct mail marketing. Direct mail is one of the big three, social media, email, and direct mail. Now social media and email have higher open rates and lower costs, but direct mail has significant advantages. 

Direct mail campaigns generate purchases five times larger than email campaigns. In addition, they have the distinct advantage of standing out. In today’s, world people get inundated with social media aids and emails but rarely receive real mail. The last advantage is the life span of a social media ad lasts about 3 seconds in front of your customer compared to 17 days for direct mail. 

Direct mail is a written piece of sales and informative copy that offers information about your company and your products/services to potential customers/clients. For example, you have sales letters, brochures, or proposals that can be mailed out to a list of leads. 

This approach can not only open your door to thousands of new customers/clients, but it can also save you thousands of dollars in advertising. 

Open Water Fishing

You have to be careful not to waste your time on clients who are simply not interested. Instead, you must focus on bigger fish. Remember, the previous lessons talked about how you should always be targeting higher-quality prospects. 

To do this, you have to take the time to research and learn about your potential clients to make sure you are targeting the right companies to work with. In addition, make sure they are companies that will benefit from your products/services over a long time. 

If you’re not sure where to start finding big fish clients, go back over our previous lessons or look into purchasing a direct mailing list that targets the clients you need. You can buy or rent lists with name, title, job specs, and contact information. This gives you a jumping-off point in finding high-quality clients.

Call for Back-Up

Don’t be afraid of telemarketing. It’s a powerful tool that can be done tastefully and be highly effective. However, keep in mind, when not handled correctly can bring about adverse reactions. To be successful with telemarketing, you need to use these tips:

  1. Your first line of defense should be mail marketing. 
  2. Test before you start a telemarketing campaign.
  3. Set the price for your offer.
  4. Use a progressive approach with your campaign.

Progressive contact helps build trust and allows the potential customer/client to establish a positive relationship with you. These are the progressive steps you should take:

  1. Put your prospect at ease.
  2. Present your offer in a natural, conversational way.
  3. Avoid being argumentative or pushy.
  4. Always be honest.
  5. Perfect your 30-second elevator speech.
  6. Clearly state your name, business name, why you’re calling, and where you got their information.
  7. Offer the benefits of your products and services.
  8. Mention one of the features that back up the benefits.
  9. Ask preliminary questions that give you information about the prospect.

These step-by-step methods can help you succeed with a telemarketing campaign and avoid a negative response that could forever stigmatize your business. 

This wraps up these three areas of multiplying your resources. We’ll continue with this series for the next two posts to give you all the resources you need to get the most out of your current resources.

If you need help working through any of these processes or areas, download my book and I will give you one free month of access to my online marketing academy $97 value.

10x Your Resource to Maximize Your Results

10x Your Resource to Maximize Your Results

In the previous series, we discussed techniques and strategies to maximize your resources. This next series of posts will cover how to take maximizing resources and multiply them for even bigger results. 

In this first of the four-part series, we’ll cover: 

  1. Call in the Troops
  2. Bring ‘Em Out of the Woodwork
  3. Black Sheep Clients

Call in the Troops

Finding and securing new clients can be exhausting and expensive. So instead, work with other companies to help you find new clients. Find solid companies with secure, positive relationships with their customers/clients. Also, ensure that their products/services are not directly competitive with yours. 

Contact prospective partner companies and talk with them about helping promote your products/services to their clients. Always offer them a commission on the sales that come from their client lists.

Make sure to include these key points in your proposal:

  • First, ensure that your products/services don’t compete with theirs.
  • The partnership will not take away from their current or future sales.
  • The partnership will increase their profits.
  • They won’t have to do nor spend anything on the partnership.
  • You will produce all needed marketing materials.
  • You will offer an unconditional guarantee on all products/services.

Bring ‘Em Out of the Woodwork 

If you take the time to put together a solid referral system, you’ll draw new customers/clients out of the woodwork through everyone you already know. You can start doing this by first showing all your current clients how much you care about them.

Then show them how your products/services can significantly improve their lives or businesses. If you can do this consistently, they will naturally and comfortably bring new clients right to you.

Black Sheep Clients

One of the best ways to rejuvenate business is to find your stray clients and offer them something unique. But, first, you need to understand why they strayed and are no longer purchasing from you. There are generally three reasons why customers/clients leave. They are: 

  1. Unrelated causes that have nothing to do with you
  2. A problem with their last purchase
  3. No longer benefit from your products/services

The best way to bring these clients back is to contact them. If you don’t make the first move, they’ll never come back. You make an appointment to visit them or call them if it’s not possible to meet in person.

Talk openly with your stray clients. Let them know you noticed they were no longer working with you and that you’d like to talk with them about their experiences with you and how you can improve things to work together again. Take the time to make them feel special and work hard to make sure their experiences with you going forward are the best ever.

This wraps up the first three areas on how to multiply your maximized resources. If you need help working on any of these ideas or processes, try our FREE test drive to work with an experienced business coach.

Next time we’ll talk about the following three areas of multiplying your resources. They include Olympic-size Sales Staff, Open Sea Fishing, and Call for Back-Up.

5 Killer Mistakes – Part 3: Up Cash Creek Without a Paddle

5 Killer Mistakes – Part 3: Up Cash Creek Without a Paddle

Now to conclude our killer mistakes series, we will talk about the worst mistake you can make that will not only cost your clients but might even cost you your company. Today we’re going to talk about the fifth killer mistake: Cash Flow.

Even when business is good, there’s still a chance of running out of cash flow. You have to always be prepared for a slow in sales or a surge in expenses. One of the keys to balancing your cash flow is to get your clients to pay on time. Managing your cash flow can seem like a nightmare but is essential to a successful business.

Here are some tips to speed up the payment process:

  • Always send invoices on time and adjust your records for potential audits.
  • Learn how the client processes payments on their side and find out precisely where to send invoices.
  • Find out who’s in charge of processing orders and payments so you know who to contact if needed.
  • Have a follow-up procedure in place, just in case.
  • As a last resort, call your contact to ask questions.
  • Always make sure your invoices are correct before sending them out.

You also need to make sure your cash flow is protected. You can do this by:

  • Always knowing which accounts need to be paid and when.
  • Negotiate with your suppliers for the lowest cost possible.
  • Have a bank contingency plan in place.
  • Build your investor network.
  • Having a weekly, not monthly, cash flow management system.

These are all great ways to protect the cash flow of your business and be able to serve your clients. However, these last few lessons are all about finding and maintaining your big fish clients. These clients are essential to your success, and you need to take the time to work through each of these steps carefully and correctly for the best success.

I am here to help with any of the processes we have discussed; feel free to ask me how to get access to a wealth of Free tools and resources and our business coaching staff.

Take the One Thing Challenge!

If you feel frustrated with sales and marketing, the reason may not be a lack of effort or investment. Instead, the problem may be inadequate or inefficient service delivery to your customers. 

Remember, the best time to make a change was yesterday, so you better get started today! What is the one thing you need to change or do differently that would make you more successful?

Complete this quick form, and I will respond within 48hr with one action you can take to make your one thing a reality?

 

5 Killer Mistakes – Part 2

5 Killer Mistakes – Part 2

In the last post, we covered the first two of the five biggest mistakes you can make in dealing with big fish clients. Today we’ll cover the third and fourth ones: Taking on More Than You Can Handle.

When you take on too much, your business can’t keep up, and therefore you can quickly lose control of everything and find yourself barely functioning. You want your business to be successful, no doubt, but you need to plan how you will handle the growth. Although your clients expect excellent customer service and high-quality products/services, they don’t know or care about your behind-the-scenes operations to get those things done.

Look for these signs that you are taking on more than you can handle:

  • Clients’ needs aren’t being met.
  • Employee morale is low, clients are upset, and you’re in a panic.
  • You have to react in emergency mode to save accounts.
  • Your current clients are suffering from trying to keep up with new business.
  • Profits are going down.
  • You are just trying to pick up the pieces of your business.
  • Your clients/customers leave.
  • Resources are being reallocated.

There is a trick called the Mock Fish Plan. This plan can help you react positively when facing some or all of these things and help you get your business back on track. This plan will:

  • Help increase sales in a short period of time.
  • Alter your products/services for the better.
  • Fulfill promises you made to your clients.

There are six steps to this plan:

  1. Bring in your best team and have them all help to meet the fish’s needs.
  2. Review your operational system.
  3. Anticipate future problems better.
  4. Communicate better.
  5. Include costs in your quotes.
  6. Always have a backup plan.

All Your Eggs in One Basket

You can allow your company to become dependent on anyone fish. Eventually, or for certain periods there is going to be a slowing down period with your fish. To stay in the game, you need to diversify. 

If you’ve ever mishandled a fish, you could drive away potential fish as well. However, to keep balance and prepare for a strong future, you can do a few things.

These things include:

  • Stay in the loop and try to know what’s going on inside your fish’s company.
  • Constantly reinvent yourself and stay at the top of your industry.
  • Stay exclusive.
  • Try to secure multi-year commitments and contracts.
  • Spread your contracts out.
  • Price your products/services correctly.

You also need to work to reduce your dependency on your fish. This can generally be measured in sales or profits. Take a look back at the process we’ve used thus far to snag more fish to keep this all in balance.

These are the ways you can help avoid the killer mistakes that can make you lose it all. If you need help with any of these tips or tricks, feel free to call at 412-397-7967.

Next time we’ll talk about the last of the killer mistakes and how to combat it from hitting your business hard.

Keep Up the Momentum

Keep Up the Momentum

Negotiation is more than a transaction. In this article, we will explore how to develop a mutual alliance in your big fish relationship. Developing this relationship allows you to turn a singular transaction into multiple transactions, introductions, opportunities, and more.

One of the most critical aspects of this is to keep your cheerleader cheering. This refers to the ally you created in the company and who needs to stay loyal to you for you to continue a profitable partnership with your fish. You can keep your champion going by offering or doing a number of things to show appreciation. Some of these things are:

  • Use their preferred media. It is essential to contact your clients/ customers the way they are most comfortable. 
  • Contacting the person your champions supervisor to share your experience
  • Introduce them to complementary products or services that can enhance their experience
  • Be patient and create a timeline for following up. The goal is to be present but not overbearing/desperate.
  • Invite them to participate in your company function or opportunity. It is a great tool to build investment in your company.

These are just a few ideas and tactics for maintaining relationships. Your goal is to create value outside of the singular transaction. In all cases, you want to become their go-to problem solver.

Now that you have some ideas of how to build solid relationships, you need to seek out people to build these relationships with. These alliances will help you get bigger clients that stay with you forever. You can often get in the door by offering them something in exchange for something they need:

  1. Solutions: provide them with a product or service that solves their immediate problem. 
  2. Information: provides them with access to new people, markets, and knowledge to achieve their goals.
  3. Improved environment: give them tools to make the workplace the best it can be. Find ways to bring joy into people’s lives.

These are all great ways to feed your alliance. You need to go into a 

relationship considering the things a big fish can offer you besides money. These can include:

  • The opportunity for your business to expand
  • The opportunity to learn from the experience and find ways to grow
  • The opportunity to improve your processes, systems, and other means of doing business

This article was a quick guide on keeping your alliance strong. Please note there so much more you can do. The most important takeaway is, your relationship should have transactions but not be transactional. You must avoid the favor for you, a favor for me mentality. 

If you need help developing your alliance strategy, please feel free to contact us. We would love to help you.

About the Author

I am a business coach and consultant specializing in uncovering the root cause of a challenge and offering an unexpected solution. That solution typically results in a substantial increase in profits and the peace of mind to set you free from your business.

I ask powerful questions to clarify who you are and what you want. I am empathetic, although surgical in approach. I make my clients feel they are the only person I am working with. I have an uncanny way of drawing people out and getting to the heart of the matter.

I am a Pittsburgh native who aspires to free business from the rat race. If I am not working to improve the lives of my clients. Then you will most likely find me on the ice playing hockey, reading, or making plans for the future.

If I can ever be helpful to my readers, it would be my pleasure to connect and see where I can bring you value. I look forward to continuing to share more great lessons with my growing community.

Mom’s make the best customer service, experts

Mom’s make the best customer service, experts

The power of moms

My mother has taught me a lot over the years, but two key lessons that pertain to customer service are consistency and the Rule of 1%. In the last post, I shared my experience with STX and the lack of consistency and systems within their customer service experience. My mother’s lessons will ensure you do not make the same mistakes.

Your customer experience must be predictable and measured. You need to leave your clients, vendors, customers, and staff; feeling heard and cared for. The key to any customer experience is what do you want them to experience. Experience is a set of events and feelings. As you go about creating your customer service systems, keep this in mind. 

Be as my mother; she wanted to do what is best for me but rarely gave into everything I wanted. She listened to what I had to say even when I was wrong, acknowledged my feelings, and redirects me to the path of least resistance. She treated me the same every time, and I found comfort in knowing that. Everyone once in a while, she surprised me with something I never expected.

If you want to take your satisfied customers to Raving Fan status, you have to go above and beyond the average customer service experience. The key to any great customer service experience is consistency. 

There are three ways to develop consistency:

Limiting customer service options and. 

It is easy to give customers what they want. However, this can cause us to drift from our vision of how we want our customers to feel. Instead, stay true to your vision and offer one or two solid customer service techniques that will set you apart from the competition. 

Make sure the techniques you chose do not feel like a burden. To be honest, your goals are to address the customers feeling and before their problems. 

Start by fine-tuning your current systems before you can add anything to the mix. 

  • Think about how I want them to feel, and am I currently getting them to feel that way. 
  • What action am my staff or I taking to get them to feel that way?

There’s nothing worse than launching a new program when you haven’t even worked out the kinks of an old system. 

Put solid systems into place.

Once you know what you’re going to offer, you need to have a system in place to execute it flawlessly every time. This system needs to consist of the right people in the right roles and responsibilities and technology that guarantees a positive experience every time. Emphasis needs to be placed on the results, which ultimately is the satisfaction of the customer.

To get the best results to think about how you empower your staff to make decisions. If they have to go through a supervisor or you before they can approve a refund or replacement, what is the point? Your system needs to have the least number of steps possiable. Remember, your customer is already in a higher state of agitation, and your first job is to lower the feeling.

Good coaching is the key.

When creating excellent training, you need to remember it is not about the outcomes. It is about teaching your staff how to shift the emotional state of customers to create an optimal resolution for both them and the company. It is about the tools they have at their disposal and how information needs to be shifted through your organization. 

The final piece to consider is your process for continually enhancing your staff skills. Your goal is to train them to be confident that they are the empowered expert who can solve your client’s issues.

Small steps lead to great results.

You may be looking at what currently doing and saying, “shit, I have a lot of work to do.” That is okay let the Rule of 1% be your guide to implementing the change in your business.

The Rule of 1% is simply defined as adding to your customer service one percent at a time. Before you can do this, you must have your consistency perfected, or it will never work. This one percent may seem small, but if you approach the vision for your company with baby steps, you will find a massive increase over a solid chunk of time. It’s not a sprint; it’s a marathon.

Avoid doing too much at once, or you’ll set yourself up for failure. Think of the confidence you and your employees will have when you improve one percent each week. By the end of a year, you’ll have improved more than 50%!

While rules and standards are necessary for growth, always be flexible with your best customers. Most retailers only allow a set number of items into a dressing room to reduce the risk of shoplifting, but it generally restricts the large percentage of people who are not stealing from you. Flexibility is the key to what you deliver to your customers, and consistency is the key to how you provide it.

The bottom line is customers rely on you to deliver what you promise. If you spend too much on bulky advertising that promises more than you can deliver, even your best intentions will unravel quickly, and you will fail.

Focus on your vision and baby steps to turn your satisfied customers into Raving Fans.

I hope you’ve learned a lot about good customer service and how it’s essential to your overall success. If you need help with any of the steps we’ve gone through over the last four lessons, please feel free to connect.

In upcoming posts, we’re going to explore strategies of bagging the big clients and keeping them.

Secrets Secrets they Can Be Fun… Let me tell you one.

Secrets Secrets they Can Be Fun… Let me tell you one.

Top secrets customer service information

In the last post, we talked about the first secret to building a solid customer service plan and how to decide what your vision is. 

Today we’ll talk about the second secret in taking your satisfied customers to raving fans. You must know what your customers want. Know who your customers are, and you will know better how to serve them. Having a defined ideal client is really important here. An upper-class woman in her 30’s is going to have completely different expectations than a working-class man in his 50’s.

When considering what your customer wants, there are four main areas to focus in:

  • Listen to your client
  • Ask Your Customers Sincerely
  • Offer More than Just a Product/Service
  • Know When to thank them for their feedback 

These are all important when deciding what your customers want out of their experience. 

Listen to Your Client

You need to listen to both what they say and what they don’t say. Clients may say they want one thing and mean something else. For example, if your customers are begging for lower prices, you may find their real priority is quick delivery. Your clients fall into four categories.

First, you have the raving fan; they’re the person who will self-identify with your brand. Take, for example, the hipster that will say I will only use apple products. Most of the time, they love what you do and provide you with positive feedback. This is your 20% sweet spot. However, if you’re looking to grow or pivot, you have to listen to what they say and prod them for negative feedback.

Second, you have the passive client; you need to listen to customers who only reply with “fine.” These customers are so used to bad customer service they only give a monotone response. Think of the client that leaves the 3-star review and writes it was good—clearly, no a lot to go on here. 

Third, you have the silent client. Listen to your “silent” customers. These customers don’t bother to complain because the service is so bad they’ve just given up and don’t feel like their voice matters. They feel unwanted, and when a competitor shows up, they’ll be gone.

Lastly, you have the detracter or “Karen.” These are your clients who had such a negative experience that will actively try to cause harm to your business. This can be in the form of a poor review or youtube rant. It is essential to make sure that you have a plan in place to handle these people. One suggestion is to create a Non-ideal client profile; this will allow you to figure out who that person is before they even have a chance to buy from you.

Ask Your Customers Sincerely

If you aren’t sincere when you ask their opinion, they will see right through you. It is essential to understand why you are asking them for their feedback. Are you truly prepared to take feedback and make changes? If not, don’t ask. Client feedback is not an opportunity to pander to them in an attempt to create some false value. This is your chance to reengage them and keep them as loyal customers.

You need to ask them sincere questions that get them thinking about their experiences. Make them feel like you really care, and you should! 

Extra tip: If you have a plan of how their feedback is being used, share it with them during your review process.

Offer More than Just a Product/Service

Your customer service process does not just start after you have completed the sale. Make sure you are thinking holistically about your client’s experience. It starts from the first contact and continues indefinitely.

Your customers are looking for much more than a simple product or service; they are looking for an experience that makes them feel good. They gauge every step of the process with a value. When you consider this and treat them like people, they will feel like they belong. That is when your product or service becomes a community.

Know When to Ignore Them

First, you must acknowledge that your business is not for everyone and everyone is not your customer. You will sell to people, and people will buy from you that really shouldn’t have. 

It is okay; in reality, you can’t give them everything, and some people you will never make happy. You have to set limits and stick to them. If your vision and company don’t meet the customer’s needs, they will be best suited elsewhere. 

Be direct, tell them this is not working out, and create a process to help them find the right place for them, and then move on to those you can help.

Start Here

  • Who is my customer? 
  • What are my goals for my customer experience?
  • What questions can I ask to make sure I am delivering on that experience?
  • How will I use their answers?

Now that you have learned some quick tips and tricks. If you get stuck, I am happy to answer questions. Email me: doogie@ideasactionssuccess.com 

 

Business 2.01: Grow the Right Way

Business 2.01: Grow the Right Way

Show how your business grows just like planting a tree. It is to serve as symbolism for the work we put in as business owners.

Two weeks ago, we talked about the first three of the seven specific areas you need to consider in your franchise prototype process. Here are all seven again:

  • Primary Aim
  • Strategic Objectives
  • Organizational Strategy
  • Management Strategy
  • People Strategy
  • Marketing Strategy
  • Systems Strategy

(The first three focus areas were covered in the blog: Business 2.0, please read before continuing)

Creating a focus in these seven areas will get you on the path to creating a business that works for you. Today we are going to cover the last four.

Before we jump into it, think of constructing your business model like planting a tree. At first, it’s so tiny and weak you wonder if it will even make it through the night. But, you keep watering, fertilizing, and nurturing it. Your ideas will grow the trunk, and each of these strategies will extend out like the branches of your now a strong tree. Finding the perfect support staff, employees, vendors/suppliers, and other relationships will make your tree flourish with leaves and flowers to bear fruit. 

Grab your pen and paper, roll up your sleeves; it is time to get to work.

Management Strategy

If I told you, having excellent management is not about finding great people with a lot of experience but about creating a system to cultivate, promote, and train talent. 

The way you structure your management team development is essential to your growth and your employees’ happiness and, ultimately, your customers/clients. This strategy is results-oriented and doesn’t depend on the people but the actual system that’s in place.

A management strategy, in short, includes goals, rules, company direction (mission/vision), standards (supervisor expectation of behavior and performance), skill development. That tells your employees how to act, grow your business, and meet clients’ expectations. 

It is a well-orchestrated procession of actions that allows your staff to exceed your clients’ expectations while fulfilling strategic objectives over and over again. It is your operation manual, your series of checklists, scripts, and action processes. 

People strategy: 

If your management strategy is what you want your people to do, your people strategy is how you get them to do it.

You need to show your employees how you feel about their job performance and dedication to your business. They also need to understand “why” they are doing specific tasks. This helps your employees personally connect to their job, leading to better production and a happier workplace. 

There are several strategies you can use to get the highest performance of your employees (They are in order of effectiveness):

  • Constant, regular, and public reminder/thanks of how their work is impacting the community (companies goals)
  • Internal education program
  • Internal staff dream program
  • The innovation game
  • A learn this business program:” not just your job.”
  • Performance Incentive Programs
  • Contests that reward high performance
  • An employee of the Month
  • Performance/Holiday Bonuses

These are just a few of the ideas you can use. To create a great people strategy is to find the balance between appreciation, education (the why), and directing of staff energy.

One of the best ways to appreciate your employees is by calling a meeting and asking them how they would like to be rewarded. Think about it for a while and put the best strategy into play. Keep it fresh and change up the system you use from time to time to keep your employees guessing. Once they get used to the prize, it’s time for a whole new approach.

You need to build a community within your company. There needs to be support, appreciation, and respect. The more “at home” an employee feels, the better they will perform and the higher their loyalty level.

Marketing Strategy

Marketing is, of course, essential to the success of any business, but it also must work cohesively with the other strategies you’re using. There are two central pillars of successful marketing strategy-the demographic and psychographic profiles of your customers.

The psychographic tells you what your customers are the most likely to buy, and the demographic tells you who they are, which can help you learn why they buy specific items.

With this information, you have answered the pivotal questions of marketing:

  • Who are they?
  • Where are they at?
  • What do they want?

Now all you have to do is speak to them. 

Systems Strategy

There are three types of systems in every business:

  • Hard Systems
  • Soft Systems
  • Information Systems

Hard systems refer to those that immutable they’re opening and closing procedures, your standards of office cleanliness. These are the systems that don’t have any wiggle room and are usually all internal.

Information systems include customer data, product information, financial…anything with data and numbers. This the recording of important information to the operation, use, and success of the business.

The most important of all three systems is the soft systems because it is where your employees have the most flexibility in execution and usually require the most creativity.

The most critical soft system is your sales system. In your sales system, the two keys to success are structure and substance. The structure is what you sell, and substance being how you sell it.

All three systems are essential to your business’s success, and while they all have their particular roles, they all must work together to get the job done. This also goes for your entire business development program.

Recap 

I want to take a moment to recap on the ideas we went over through these business development lessons. We have covered a lot of the series of blogs.

An entrepreneurial myth, or e-myth, is an assumption that anyone can succeed at business with: 

  • Desire 
  • Some capital 
  • Projected a targeted profit

There are essentially three key roles that need to be filled to set your business up for success:

  • The Technician
  • The Manager
  • The Entrepreneur

The four different stages of a business life cycle are:

  • Infancy
  • Adolescence
  • Growing Pains
  • Maturity

There are a few things we are going to talk about:

  • Business Format Franchise
  • The Franchise Prototype
  • Franchise Prototype Standards

There are three main areas of business development:

  • Innovation
  • Quantification
  • Orchestration

Seven specific areas you need to consider in your franchise prototype process. Here are all seven again:

  • Primary Aim
  • Strategic Objectives
  • Organizational Strategy
  • Management Strategy
  • People Strategy
  • Marketing Strategy
  • Systems Strategy
Question and Actions

If you have been following along over the past few months, I thank you for those who have not; then you have a lot of work to do. Below are guiding questions and action steps. As always, I am here to help.

  1. What do I do now? First, identify what role in your business you play. Are you a technician, manager, or entrepreneur? 
  2. Where do I need the most help? Take some time to think about the area you need the most help, then start taking your business’s next step.
  3. What will it take to get past my ego? As entrepreneurs, we constantly feel we must go it alone, but in reality, once we get past our ego holding us back, we can get the help we need to succeed truly.

I am here to help you work through all of these areas and give your business a jumpstart that puts you ahead of your competition right from the start. Feel free to contact me directly at doogie@ideasactionsuccess.com. I am happy to answer any questions you have and discuss the success of your business.

Educate Your Customers

Educate them about what, you may be thinking. Well, consider this, many businesses focus solely on attracting new customers, but you NEED to spend a good chunk of your time retaining current and former customers. These are people you already know to be a good sales potential…they’ve already bought from you!

Take the time to market and sell new products to your old customers and less time trying to sell old products to new customers and you will see a drastic change in your sales, customer quality and branding position.

Here are a couple of key elements to use to retain your current customers:

  1. Stay in contact: This means by phone, email, e-newsletter, in person-by pigeon if you have too!
  2. Post-Purchase Assurance: This means you need to follow up with customers. Your customers need to feel like they are being supported for their purchase and with the item they purchased. How many times have you purchased a product, then felt completely abandoned? Something as simple as a Thank You note with your contact or customer service information can go along way in retaining a great customer.
  3. Deals & Guarantees: Always offer your current customers the best deals and guarantees you have. Show them you appreciate their business or even come up with a club specifically to reward loyal customers. You can also do this with a preferred pricing option.
  4. Integrity: Using good business practices and simply upholding integrity, dignity and honesty go along way with customers. Let’s face it, there’s a lot of swindling and crap out there and the safer and more confident you make your customers feel, the more they will trust you and that makes for an amazingly supportive and loyal customer.

There are three cornerstone ideas to a successful business:

  • Quality product/service
  • Offering useful products/services that solve a problem for or enhance the life of a customer
  • Offer subjects your customers find interesting

Use this approach of educating your customers and offering them real information and insight and you will be rewarded with loyalty and success.

Stop wasting all your time on new prospects while your current customers fall by the wayside!

As Jay Abraham says, “Your best prospects are your existing customers. If you’ve been putting all your marketing efforts into acquiring new customers, stop and diverts some of your resources into reselling, upselling, cross-selling to those same customers. In every ways possible – through package inserts, regular mailings, special offers – stay in touch with those customers and get them used to buying from you.”

So, there it is! Remember, we can help you put together the resources and tools to do exactly that. We can help you educate your customers and you can watch the benefits pay offer many-fold.