Capturing Word of Mouth for Your Business

Posted by Elliot Jolesch on July 13, 2018

In today’s lesson, we’re going to dive deep into how you can start capturing word of mouth for your business. Let’s discuss the six steps you need to do to increase word of mouth and the top 30 ways you can capture word of mouth. Ready to dive in?

Six Steps to Increasing Word of Mouth

  1. Get inside the mind of your customers and determine their priorities and values. This insight can help you understand what makes them purchase your product or use your service.
  2. Having a working knowledge of the different types of adopters. There are the innovators, the early adopters, the middle majority, the late adopters, and finally the laggards. People all buy into products and services at different times depending on their personality and needs.
  3. Determine the different stages of decision-making that customers have to make to start adopting the use of your products and services.
  4. Take steps two and three to help you in writing out the best wording and tactics you’ll use based on the Decision Maker Matrix developed by George Silverman. We’ll touch on this more in a bit.
  5. Get the most significant impact from your word of mouth by putting together resources.
  6. Make a word of mouth campaign and implement it.

The Decision Maker Matrix was developed over the years using trial and error. Basically, it creates all of the different concerns that the different groups of adopters may have and how to adjust your decision process to meet those concerns.

30 Ways to Capture Word of Mouth

Expert Opinion

When you’re creating a campaign to raise word of mouth for your company, experts can be useful. You’ll want to take what they have to say into consideration. Experts that can be beneficial to get information from include:

  • Salespeople
  • Suppliers
  • Experts
  • Customers
  • Roundtables for Experts
  • Selling Groups

Speeches, Seminars, and Workshops

Gathering information at these types of events is a perfect opportunity. Attendees at these types of events are a wellspring of feedback, and you can use things like surveys to get the information you’re looking to gain. Examples of these events include:

  • Trade Shows
  • Seminars
  • Dinner Meetings
  • Teleconferenced Panels
  • Group Selling
  • Speakers Programs
  • Peer Selling Groups

Word of Mouth Canned Responses

The term canned responses is a concept that refers to using both online and hard copy products to get feedback while offering something in return. Options for this type of feedback include:

  • CD’s
  • Websites
  • Videotapes or online videos
  • Audio files or tapes
  • A combination of the above 

Taking Advantage of Referrals

A referral program can be an excellent way to build your business and get more word of mouth. These programs are exactly what you need to start creating positive word of mouth. The following opportunities and tactics can help you in taking advantage of referrals.

  • Networking
  • Selling program for referrals
  • Testimonials

New School Media

There are plenty of media sources available today that are considered new media. Each of them offers more ways for you to get word of mouth out about your services and products. Also, they give you the perfect opportunity to hear any feedback about them to improve them. Some of these new school media options include:

  • Call centers
  • Faxback services
  • Hotlines
  • Word of mouth on the web: emails, chat, forums and so on

Word of Mouth Through Traditional Media

Although new school media offers excellent routes for getting feedback for your business for word of mouth, the traditional media routes are still the most mainstream methodologies. Some examples of these traditional media options include:

  • Public relations
  • Customer service
  • Promotions
  • Events
  • Placements
  • Direct mail, sales brochures, and ads
  • Peer training, salesperson programs, or sales stars
  • Customers gifts to keep and to share with friends and family
  • Incentive programs encouraging word of mouth

Initiatives for Internal Word of Mouth

Your employees can be an excellent tool for word of mouth that is often underutilized. You should find ways to encourage them to share word of mouth with their friends, family, and anyone else that they come into contact with during their day. You can offer incentives to assure success, such as rewards or commissions.

There are lots of ideas that can help you to increase the amount of positive word of mouth that your business is getting for marketing purposes. This post is just the tip of the iceberg as you can brainstorm ways to garner word of mouth that’s more personalized to your company.

Do you need assistance with any of these concepts to help grow your business? Contact us today to learn about what we have to offer and how our services can change the way your business runs.

 

Taking Advantage of Word of Mouth – Part 3

Posted by Elliot Jolesch on July 9, 2018

In our previous lessons, we’ve been going over the importance of word of mouth and how you can design a system that will increase your profits by shortening the amount of time it takes your customers to make a buying decision.

In today’s lesson, we’re going to go over the nine different levels that exist with word of mouth. Each of these levels is a measuring tool to help you with identifying how well your business, services, and products are doing for your customers. Using these levels can assist you in identifying areas where your word of mouth may not be up to snuff and allow you to turn it around.

These levels are on a sliding scale starting in the negative and working towards the positives. You, of course, know that you want your company to be hitting it out of the park with all positives.

Negative Four

Can you say scandalous? At negative four, your company is a problem and is the worst of the worst. For instance, do you remember when Tylenol and other over-the-counter pain relievers were thought to be unsafe? This type of word of mouth should be avoided at all costs.

Negative Three

 At negative three, you’re being boycotted for one reason or another. Unhappy customers are actively trying to tell others to stop using your service or products.

Negative Two 

Negative two isn’t as bad as three where an active boycott is occurring, but customers asked about your company give a critical response that’s negative in nature.

Negative One

Moving up the scale, at negative one, your customers are a bit unhappy with something about your brand. They may not speak about it unless asked, but they are feeling miffed. At this level, they may still utilize your company but could reduce their usage. It can be a bit confusing for business owners.

Neutral Zero

At neutral zero, you’re at a point where people are using your services or products, but don’t really talk about them. No one is asking, and they aren’t sharing their opinion. At this point, you’re at the tip of the slippery slope because a neutral experience is on the tipping point to be a potentially negative experience. Just because you’re not in the negatives doesn’t mean you can take your foot off the pedal to improve your word of mouth.

Positive One

At positive one, you’re finally getting to the point where your customers are giving out positive word of mouth about your service, product, and company. People are happy with what you offer, but they don’t go out of their way to tell others about it.

Positive Two

At this point, customers are happy with your product and will talk about their love for your products if it comes up.

Positive Three

Congratulations if you’ve made it to positive three. You’ve gotten to the point where your satisfied customers are singing your praises and will go out of their way to talk about their experience. Think of it like how moviegoers that enjoy a movie give a glowing movie review and tell everyone about how they love the movie.

Positive Four

Pop the champagne if you’ve made it to positive four on the scale as you’re being toasted by your customers. Your company has buzz, and everyone wants to be involved. Word of mouth is all about your company, the service, their experience, and their perception of the future with your company.

This top step on the scale is where many of the big brands that come to mind are located. Some examples of these companies include:

 

  • Apple
  • Celestial Teas
  • Disney
  • Harley Davidson
  • Toyota
  • Coca-Cola

 

That’s some excellent company to be in if you’ve reached the pinnacle of word of mouth.

 

That wraps it up for today’s lesson. Are you still struggling with your word of mouth? Contact us today to discuss how we can help.

 

In our next lesson, we’re going to go over the 30 different ways you can capture word of mouth power for your business.

Taking Advantage of Word of Mouth – Part 2

Posted by Elliot Jolesch on July 5, 2018

In our previous lesson, we started covering word of mouth and ways you can go about making your customer’s decision to purchase short and simple. In today’s lesson, we’re going to continue discussing this topic. Word of mouth has its own power, and we’re going to discuss how you can make it work to your advantage.

Decision-Making Help

Just about everyone looks for input when making a decision. They look for advice that’s going to guide them towards the best option. We often rely on the experience and expertise of other people to determine what the right decision is based on their information. Keeping this in mind, it’s easy to see what word of mouth is and the power that it can have. Once you see this, it’s easier to understand how you can take advantage of what it has to offer.

Keep this flow in mind when discovering the power of word of mouth:

  • Increase your profits by speeding up the decision-making process for your customers
  • Make customer decisions easier by making the purchase process easier
  • Ensure that you deliver on promises made through word of mouth advertising rather than focusing energy on using a used car salesman approach or low-ball advertising

Advertising Versus Word of Mouth

Advertising in a traditional method typically gets about one inquiry per every thousand ads, and often this is just getting the customer into your pipeline for information before they even decide to pull the trigger on making a decision. Getting information from family or friends can help to improve the speed of this decision-making process and taking action because of a recommendation. Did you know that on average, a customer will make a purchase based on two out of every five referrals their friends and family make? That can be huge for your business.

Word of Mouth’s Power

Let’s take a moment to define word of mouth again because of how powerful it can be: it’s the communication that occurs between a customer and someone that isn’t a customer. Often, there’s some type of relationship between the two individuals. This relationship created a level of trust between them in that the one will put more weight on what the other has to say.

Now, let’s compare this message being shared through a trusted relationship and advertising. Who do you think they are going to trust more easily and take advice? It should be pretty clear that they’re going to put the words of a trusted friend or family member above any advertising that you could put out.

Why Word of Mouth Works

We’ve discussed the benefits of word of mouth, so let’s look at why it works. Some reasons include:

  • The person doing the referring can custom tailor the information on why this is best for them because of the knowledge they have about the potential customers’ needs.
  • The recommendation is trustworthy, pertinent to them, and personal.
  • The referral is customer driven for them.
  • A good recommendation is self-generating and often will balloon into a much bigger thing. This fact is especially true with the internet as it has opened up the reach of word of mouth.
  • Word of mouth can become part of your product or service’s description.
  • It is more effective and important when word of mouth comes from an expert.
  • Lastly, word of mouth will save you both money and time.

You need to understand a few things to utilize word of mouth for your business fully. The questions you should be asking yourself are:

  • Where does your word of mouth come from?
  • What products tend to get the most love from your word of mouth?
  • How are people passing along their word of mouth to others?

Once you have a handle on identifying this information, you can make a plan for how to increase your word of mouth.

That’s all for today’s lesson. Do you feel that you could benefit from some more guidelines on word of mouth? Contact us today to learn more about how our services can benefit your company.

In our next lesson, we’ll be going even deeper into harnessing word of mouth by examining the nine different levels. We’ll go over these levels to help you determine what word of mouth is positive and what isn’t.

Taking Advantage of Word of Mouth – Part 1

Posted by Elliot Jolesch on July 3, 2018

In this next set of lessons, we’re going to start looking at another topic that’s often overlooked: word of mouth. The problem with not seeing how you can impact and take advantage of word of mouth is that it can have a huge positive or negative effect on your business in a short time. We’ll focus on what word of mouth is in today’s lesson and go on from there.

What is Word of Mouth?

When it comes to marketing, word of mouth is one of the best forms as it’s powerful coming from others using your service. Plus, it’s free! People are willing to talk about the different ads they see that they remember, products they use, and the different experiences they have with brands. By creating a positive experience for people, they will come to your business and help to spread the word to others about your business for the long term.

Is There Bad Word of Mouth?

However, keep in mind that while a positive experience can lead to great word of mouth, this can also go the other way. Negative word of mouth can be very jarring for your business and requires action. People are often more motivated to spread negative word of mouth faster and further than when they’re happy with a service. If your product doesn’t live up to the high-quality expectations or your customer service is poor, people will tell others not to come to your business.

Technology and Word of Mouth

Technology has made word of mouth even more powerful than ever before and is a huge benefit for your business. People are able to share their opinion on your business in a large variety of ways from forums, blogs, social networks, online marketing, podcasts, and every other type of site. It’s never been easier for people to have their word of mouth heard by others. The best part of this is that it’s all free for your business.

Customer Decision Cycle to Increase Sales

Let’s go over why it’s important to help shorten the customer decision cycle to give your clients the boost they need to choose your service quickly and without hassle. You can work to reduce their decision cycle by increasing:

  • The number of customers you have
  • How often customers are buying
  • The overall amount of money that customers spend on their purchase

Going Deeper Into Decision Speed

There are a few things that you can offer your customer that will help them to make their decisions in a quick and confident manner. You should have a simplicity and ease to what you offer. You don’t want to make a decision on your products or services to be too complex or complicated. You should also make the environment fun for customers. Achieving this allows you to help your customers to want to buy more often, spend more money than they normally do (Target, anyone?), and make the decision to buy faster. Don’t forget it also makes them want to give others word of mouth by referring their friends! You can raise your share of the market a 100 times over through this methodology.

The amount of time that your customer takes to make a buying decision should be your top priority as it’s more important than any kind of marketing that you do for your business. Focusing on how long it takes a customer to make a buying decision can make you take a long look at your company, your positioning, the values you offer, your customer service, how your brand is viewed, your guarantees, and the quality you offer. Any of these that cause your customer to pause before purchasing should be examined and tweaked until it’s a positive.

Minimizing Decision Making Stress

Think about how you feel before making a purchase. There’s a certain amount of stress in the buying process, especially for those big purchases or when using a new brand or company. Finding ways to minimize the stress and friction that your customers feel can help to increase their decision speed.

Secrets to Helping to Minimize This Stress

  • Make your guarantees, claims, promises, benefits, and features as clear as possible. What may seem obvious and concise to you, may not to your customers. Make sure it does.
  • Make sure any information you give your customers about your company, products, and services is credible and balanced.
  • Use examples and comparisons that show a noticeable difference.
  • Provide a rock-solid guarantee and go above and beyond customer expectations.
  • Create free trials that are easy and understandable.
  • Keep testimonials to those that are positive and relevant to your current offerings.
  • Offer simple product or service evaluations.
  • Provide perfect delivery and customer support while keeping your operational systems running effectively and efficiently.
  • Make your website as user-friendly and as optimal as you can get. The more information you offer, the better the experience for your customers when it comes to the decision making process. Guiding them gently through this process makes it easier for them to feel comfortable with making a purchase. Things you can do to go above and beyond includes offering software downloads that help with the process, easy ways to get support and customer service, such as a live chat features and a toll-free phone number, and other ways that help reassure your customers that you have their back through this process.

That’s it for today’s lesson. We’ll continue covering word of mouth in the next several lessons. Do you need help with determining the market you should target or putting these lessons into place? Contact us today to learn more about how service can help you to grow your business now and into the future.

Power-Up Your Amplification Part 4

Posted by Elliot Jolesch on June 28, 2018

In our past three parts, we’ve gone over the following topics:

  • Partner Up
  • Create a Referral System That Works
  • Gather Up the Stray Sheep
  • Boost Your Sales Staff
  • Target the Big Fish
  • Radio in for Help
  • Blow-up Online
  • Be Bazaar Ready
  • Offer Up

In our final lesson on this topic, we’ll go over the last three items:

  • Follow the Rainbow
  • Rise to the Top
  • Look Inside

Each of these topics is essential to help you in powering-up your amplification to make your efforts work for you.

Follow the Rainbow

You have to follow the rainbow to reach that pot of gold at the end. It’s vital to always have a goal in mind that you’re working towards. This goal should be something that can be reached and should be one that ultimately allows you to reach your business’ full potential. It’s fine to have a high aim, but it’s essential that you have a clear idea of the goal and what steps need to be taken to get there. Holding yourself accountable for reaching the goals you set, and continuing to set higher and higher goals is how you’ll be able to follow the rainbow.

Rise to the Top

It can be easy to rest on your laurels once you’ve risen to the top of your game. You may think you’ve mastered all of these areas, but it’s vital to stay competitive. You want to continue to find ways where you can use what you’ve learned to further your agenda rather than stagnate. It’s easy to rest once you’ve gotten on the path of success, but continue striving forward. You need to learn and evolve your business constantly to rise to the top.

Look Inside

It can be easy to become obsessed with things on the outside, such as amassing great wealth, but it’s important for you to focus on the wealth inside of you. These strategies are not only intended to help you become a better business person but to help you become an overall better person. Imparting this into your life on a personal and professional level will help you to find more success. This improvement in your life will help to attract the people that you want into your life.

Remember that you’re able to reach your goals as long as you keep them clear and attainable with a path that you know you can follow.

The past seven lessons that we’ve covered have all been about looking at what you currently have available to you and how to get the most out of it. Then, being able to turn around and powering that up further to get to the next level.

It’s not always easy to know how to move forward or what steps you should take. That’s where our services can come in. Contact us today to learn more about how we can help you with your business’ power-up.

Power-Up Your Amplification Part 3

Posted by Elliot Jolesch on June 26, 2018

We’ve been going over the different ways that you’re able to power-up your applications. In the past lessons, we’ve covered:

  • Partner Up
  • Create a Referral System That Works
  • Gather Up the Stray Sheep
  • Boost Your Sales Staff
  • Target the Big Fish
  • Radio in for Help

In today’s lesson, we’re going to tackle three more topics:

  • Blow-up Online
  • Be Bazaar Ready
  • Offer Up

Blow-Up Online

Some businesses only have an online presence. Some only have a brick-and-mortar presence. Some have both. Did you know that those that take advantage of both options are often more successful than those that just focus on one over the other? Getting online with your business has never been easier, and presents global opportunities.

There are a few keys that you need to keep in mind to blow-up online and successfully sell your products beyond your local community:

  • Have a product people want that’s a great quality
  • Build a website that’s designed with users in mind
  • Bring in traffic that’s motivated to buy at a low budget amount

Each of these will help you to blow-up your business using the Internet.

Be Bazaar Ready

As a business owner, bartering and negotiating are two skills you need to hone. Don’t be that person that pays the sticker price at a garage sale. This situation can be a perfect opportunity to negotiate and barter. Make bundle deals to get discounts. Talk to companies about exchanging services rather than money. You may be surprised at how much you can save your business by bartering and negotiate.

Offer Up

When a prospective client finds your company, you don’t know what of your services or products will meet their needs. They might not be sure either. That’s why it can be helpful to offer up. Offer them all the products and services you specialize in. This information can help you to create a tailor-made package that’s going to take care of all of their needs.

Taking some time to help these prospects to see what you have to offer can keep your company in their thoughts. It means that they may be more likely to call on your company to fill their needs when they’re ready. Even if they aren’t willing to purchase now, you can keep yourself in their mind. Some ways to accomplish this is by creating a free newsletter, a one-on-one session consultant, or another tool that provides value to the prospect.

That’s all for today’s lesson on how you can power-up your application In the next lesson, we’ll finish up with the final three ways. Are you starting to feel a bit overwhelmed with trying to get this implemented in your business or just don’t know where you should start? Contact us to learn about how our service can help your business.

 

Power-Up Your Amplification Part 2

Posted by Elliot Jolesch on June 14, 2018

In our previous less, we went over how you can start to power-up your plans to amplify your business. The topics we went over included:

  • Partner Up
  • Create a Referral System That Works
  • Gather Up the Stray Sheep

In today’s lesson, we’ll tackle three more:

  • Boost Your Sales Staff
  • Target the Big Fish
  • Radio in for Help

Boost Your Sales Staff

Can you imagine how many sales you could get if you were to hire a sales staff of thousands that were willing to work 24/7 for you for free? While it’s probably not possible to hire like that, there is a tool that offers that exact service: direct mail marketing.

Direct mail marketing gets your business in front of potential clients by providing them with sales copy that shows them the value your business offers. Proposals, brochures, and sales letters are all great options. You can mail these out to a list of leads and wait for contact.

You’re able to bring in potentially thousands of new clients, but it’s also cost-effective.

Target the Big Fish

One of the problems you may come across is time-wasters. These are potential clients that just aren’t interested in your service. It’s important to target the big fish that have a need and are interested. Use our prior lessons to help you in your search for targeting prospects that are better quality.

It’s important to take some time and research your potential clients. You’ll want to learn more about them to determine if you’re targeting the best companies. You want to make sure that not only will they be interested in what your company has to offer, but that your company will offer them a benefit from what you’re selling for a long time.

Not sure where to start? After looking over our previous lessons and still feel a bit stuck? You may want to consider purchasing a direct mail list that’s targeting the specific client type you’re trying to reach. You can rent or purchase a list that will have their name, title, job information, and most importantly, their contact information. This list is an excellent starting point for starting to get higher quality targets.

Radio in for Help

Sometimes, it’s beneficial to radio for help. In this instance, that means using telemarketing. Telemarketing has a bad rap, but it can be a useful tool when used correctly. Just keep in mind that not using it correctly could result in negative results.

Here are some tips to get the most out of using telemarketing:

  1. Mail marketing should be your first defense.
  2. When starting a telemarketing campaign, you’ll want to run a test.
  3. Create a price for what you’re offering.
  4. Set up a progressive approach to your campaign.

What exactly is a progressive approach? It’s using progressive contact that builds trust between your company and your potential clients. It requires several progressive steps that need to be taken.

These steps include:

  • Putting your potential client at ease.
  • Offering your product in a way that’s natural as a conversation.
  • Not being pushy or argumentative.
  • Staying 100 percent honest.
  • Getting your 30-second elevator pitch perfect.
  • Be clear about who you are, what your business is, why you’re calling them, and how you got their information.
  • Tell them the benefits that they can have from your service or product.
  • Follow this up with one of the features that ensure those benefits.
  • Use preliminary questions to get information about the prospect.

Each of these steps can help you to maximize the benefits of using a telemarketing campaign while minimizing the negative responses that could have a lasting impact on your business.

That concludes the information contained in today’s lesson for power-up your application process. We have two more lessons planned in this series to give you the resources you need to get the most out of your efforts.

Are you finding that you need some help going through some of these topics and getting them applied to your business? Contact us today to learn more about our service, and how it can help you.

Power-Up Your Amplification Part 1

Posted by Elliot Jolesch on June 12, 2018

In the previous series of lessons, we went over how to amplify your current holdings, and in this next series of lessons, we’ll help you to go even bigger. Learn more about how you can power-up your amplification efforts.

This topic will be a four-part lesson, and in today’s lesson, we’ll cover these subjects:

  • Partner Up
  • Create a Referral System That Works
  • Gather Up the Stray Sheep

Partner Up

One of the most vital parts of your business is bringing in new paying clients, and this is often one of the most laborious and most expensive tasks for your business. There’s a way that you can help to reduce the strain on your business, and that’s by partnering up. It can be beneficial to work with other trustworthy companies to create positive relationships with their clients. It’s essential that this business isn’t a competitor.

You’ll want to find prospects among your partner companies that you can talk with about creating an arrangement where you can promote your service or product to their clients. Commissions on the sales you gain from their client list is an excellent incentive.

When suggesting this type of arrangement, there are a few points that you’ll want to include in your proposal:

  • Specify how your services or products won’t compete with what they offer.
  • Explain how this relationship won’t impact their sales, now and into the future.
  • Show how this relationship can help to increase their profits.
  • Assure them that they won’t have to spend any money on this relationship.
  • Let them know that you’ll be creating all of the marketing materials to be used.
  • In addition, make sure that they are aware of the guarantee that you offer on your services or products to give them the same peace of mind as the clients that sign with you through this partnership.

Create a Referral System That Works

The next consideration is creating a referral system that will help to bring in new clients utilizing your current network. All of the people that you know are potential marketing opportunities because they know others that could use your service or product. To get started, you’ll want to demonstrate why your company should always be the first choice by showing how much you care for them.

Then, you’re able to show them how your company can improve their life or their own business by providing top-notch service to them. Acting in a consistent manner, you’ll find more clients coming your way through word of mouth.

Gather Up the Stray Sheep

You’ll also want to gather up your stray sheep. All those customers that haven’t purchased from you in a while are a great way to rejuvenate your sales. It’s important to figure out where things went wrong in their eyes, and help bring them back to the fold.

There are a few typical reasons for why a client stops using your service. They include:

  • A personal cause that has nothing to do with your business
  • An issue that came up with their past relationship, such as a problem with a previous purchase
  • They no longer see a benefit from using your service or product

The easiest and best way to start bringing these sheep back into the fold is to contact them. Open up a line of communication. Not contacting them means that they’ll continue to avoid your company, but making an effort to get in touch can show you care about their business. Make an appointment or pick up the phone.

Be open and honest with your clients that stray. Talk to them about how you noticed they haven’t placed an order or used your service for a while. Let them know that you’d like to talk about their experiences, and how you could improve things to bring them back on board. You want to make them feel special, and that you fully intend to address what happened if something did going forward.

All of this information in today’s lesson will help you to power-up your current holdings. Need some help with any of these topics? Contact us today to learn more about how our services can assist you in moving forward.

We’ll continue this lesson in tomorrow’s blog with the next three topics.

Amplify Your Holdings Part 3

Posted by Elliot Jolesch on June 11, 2018

Our last lesson covered three ways to amplify your holdings through:

  • Explore your business’ conscience
  • Enticing wheeling and dealing
  • Stand out from the crowd

In this lesson, we’ll cover another three topics that you can embrace to get the most out of your resources. They include:

  • Getting them to say yes
  • Supersize it
  • Don’t be a lemming

Getting Them To Say Yes

The movie, The Godfather, offers one of the best tidbits of advice in getting your clients to say yes in giving them an offer that they can’t refuse. This thought process can be the secret to your success in gaining a competitive edge to your competition. You need to open the way for them to say yes rather than no. This concept means that you need to eliminate any roadblocks they may have to say yes, such as financial, emotional, physical or psychological blocks.

One of the easiest ways to do this for your clients is by reducing the risks. Give them guarantees or warranties that can help build their confidence in you, your company, and what you have to offer them. This tip means that you have to stand by any warranties or guarantees your place on the service you provide. Not doing so can be the end of your business.

Supersize It

Fast food franchises know how to get you with add-ons and upgrades when they ask you if you want fries with your burger or if you want your meal in a bigger size. It makes sense for them to do it because it garners more sales, and the worse that can happen is that the consumer says no. Whenever you sell your service or product, ask whether they could use an add-on or upgrade to go along with it. Adding a complementary product to the one sold that has a value the client can see can increase your sales.

Don’t Be A Lemming

You also don’t want to be a lemming and jump off the cliff. You want to avoid the edge of the cliff by continuing to monitor all aspects of your business. Problems in product, systems, and even marketing can result in issues that can derail your progress. Keeping an eye on how your business runs to see an issue before it becomes an issue is beneficial.

Areas that may need improvements include:

  • Your customer service policies and procedures
  • You may want to explore how your employees interact with your customers
  • Your marketing efforts
  • Your sales copy may need polished or updated
  • You may need to change up your sales letters and presentations

You can test these different areas to help you identify how you can improve your business. You may find that you can raise the prices on some of your services, lower it on others, create incentives, or other improvements that can help you to amplify your holdings better.

This final lesson completes the different tips on how you’re able to amplify your holdings to improve your business. Are you finding that you could use some additional support? Contact us today about how services can improve the way you run your business.

Amplify Your Holdings Part 2

Posted by Elliot Jolesch on May 21, 2018

In our previous lesson, we covered three ways to begin amplifying your holdings. These included:

  • See the noticeable
  • Unorthodox ideas
  • Be realistic

In today’s lesson, we’ll cover three additional ways to increase your revenue. They include:

  • Explore your business’ conscience
  • Enticing wheeling and dealing
  • Stand out from the crowd

Explore Your Business’ Conscience

Your business is just like a living breathing thing in that it has a conscience. The conscience of your business was probably closer to the surface when you first started it. All of your passion and drive during the early months played a role in creating this conscience. The problem is that this often can get lost as time goes by, and you may find that your business stagnates. In fact, you may find that your business is in a rut.

Now is the perfect time to escape that rut. The biggest key to any business’ success is putting your clients needs first. Your business should serve your clients rather than selling them. Clients want a relationship they can trust rather than getting a lemon. It’s all about getting back to the basics. You need to help them solve problems. You need to handle any special situations that arise. You need to give your clients the top-notch service or products they expect. Be their friends while offering a value proposition.

Enticing Wheeling and Dealing

Sometimes it’s all about going with what you know works. Enticing wheeling and dealing is a successful sales technique that brings in new clients. You offer a low price on your service for their initial purchase, and this brings them back for more. You’ll see book clubs or credit card companies offering these types of deals.

You’re getting them in the door thanks to your initial low price, and then offer additional products along the way. This method helps to establish a relationship between your business and the client.

Stand Out From the Crowd

It can be hard to stand out from the crowd when you have a lot of competitors, but finding a way to be unique will help clients find your business. Value and consistency are two trends that can help you get noticed. It’s important to identify your USP, also known as your Unique Selling Proposition). Once you’ve identified it, it’s time to develop it. Some tips for developing your USP include:

  1. Find any needs that are going unfilled in your business’ niche.
  2. Practice defensive marketing to always bring in leads.
  3. Be clear and to the point with your techniques.

That concludes today’s lesson. Think you need more help on amplifying your current holdings? Contact us now to learn more about how our service can help your business.