19 Apr What Is The Number One Growth Strategy For Business Today?
Business Tips for Small Business
At Comprehensive Coaching U, Inc we get asked again and again for our number one growth strategy for business. Today I’ll pull back the curtain and reveal the advice we give our clients. Most business owners are trying to get more clients, patients or customers and hunting for them non-stop. This is costly and time consuming and the least effective marketing strategy to use to grow your business.
So, what is the best way to grow your business? The answer is to tap into the people who already know and like your products and services. These are your hidden marketing assets. What do I mean by hidden marketing assets. Your current clients, patients or customers as well as your past clients, patients or customers.
Mining For Gold
Instead of hunting for new prospects, which is expensive, your best business growth strategy is to tap into your database of past and current customers. People who have already done business with you are the most likely to do business with you again and cost you the least to recall and reactivate. I often refer to your database as your gold mine. In fact, by just using some on-line and off-line simple marketing strategies to communicate with your database (without even making an offer or trying to sell them anything) you may find 25% of them make a purchase.
Lack of communication is the number one reason why customers actually have stopped buying your products and services. When you have stopped being top of mind for your past and current customers they forget about your company and may be buying products and services elsewhere or may no longer be using any products or services like yours because they totally forgot about them.
Spend your time connecting with past customers by sending them emails, interesting educational information, articles, educational videos, notes, birthday cards, and heartfelt letters telling them you miss them and why. Do this at least once a month and never stop. If you haven’t been doing this, it’s not too late. Begin right now. Start by telling them you apologize for not being in touch and that you want to know why they stopped using your services/products. You can send them a questionnaire or survey and if they return it send them a free gift for doing so. If they were unhappy call them and see what you can do to correct their issues. Send them some great offers to come back and welcome them back to the business.
Begin sending emails, educational content, motivational notes and check in surveys regularly to customers. Be sure to thank customers for using your services. Send your database special offers as thank you gifts. Appreciate every purchase they make.
Stop Selling – Start Giving
Instead of spending your time, energy and money marketing and selling to find prospects and then convincing them to buy what you have, simply give away content. Consistently provide gifts that truly educate prospects as well as current customers and past customers. Don’t give people a sales pitch and over and over again tell them how great your product/services are.
Through educational materials show them you are expert at what you do and let them freely have access to great content. Give them great value – with no sales pitch at all. I call this reverse marketing. Here is what I mean by the term reverse marketing. Let’s say I am thinking of purchasing a leadership course. I am following you on Facebook. I’ve not purchased anything from you yet. I receive valuable gifts from you and great educational content from you. I begin to realize that your company has incredible leadership advice and I keep your leadership course top of mind.
The day comes that I decide I want to enroll in a leadership course. Guess which one I select? Pretty clear that the choice I make is the one that I make is the one that comes to the top of my mind first. The only one. The clear choice. Your company!
Get the picture? This is reverse marketing. Instead of you chasing prospects the prospects keep watching your messages. Your message parades in front of them and when they are ready they contact you. It’s the reverse of you chasing them. It’s their pace, their speed, their timing, them calling, coming in, using a web form or emailing you. They reach out.
No more chasing. No more hunting. No more advertising. No more selling. No more self-promotion.
Now you have the answer. Save your money. Focus on reverse marketing where you provide great content and give it away freely and consistently to potential clients, current clients and past clients. Give away your very best content. Share it hold and don’t hold back. Don’t pitch and don’t sell.
Let people simply be engaged in the parade of content. If and when it’s time for them to use your products or services they will contact you instead of you selling or marketing or advertising. In fact, in my experience, they will run to you when they are ready.
In their minds you will be the credible expert or your company will be positioned as the only company to use to fill their needs. You will be top of their mind so when they are ready they will come running and will be 100% ready to hire you and won’t need to be sold at all. Your expert status will have them sold. Your great content will have sold them. You won’t have to overcome any objections or give them a sales pitch at all.
No more hard selling. No more pitching. And no more expensive advertising. You will get phone calls, people walking in, emailing or contacting your website who are your ideal target audience, and who are excited and ready to buy. The concept of reverse marketing is one of the most powerful concepts that will shift your business into high gear.
What actions are you going to change based upon what you just read? If you don’t take a physical action right now then nothing in your business will change. I’ve given you business mentoring in this blog post. Are you going to take it?