So what should our marketing strategy be focused on achieving:
- get multiple mechanisms in place to create a regular stream of new business prospects in the door,
- sell more to your existing clients,
- keep your clients for a lifetime.
The concepts are simple but you, the business owner, can say no thanks or you can use our guidance to help and develop these for your business using FORSYTHS network of specialist advisors and affiliates.
These are just some strategies which might work for you:
Let us say the business is a burger bar. A customer comes in to buy $10 burger. If the relationship is bad it may be the only purchase he/she makes at the shop.
However if the customer experience is a good one then the chances are the customer will return. Now say the customer buys one burger per week for 10 years; you have a lifetime value of $5200.00. If you have a great service and convince him to purchase a $3 drink with each sale, the lifetime value becomes $6760.00. Then, you get him to purchase $3 chips and the lifetime value becomes $8320.00. You can increase this value by many methods discussed further, however, think of how much money you could lose if the first experience was poor.
However, if you sell them a gas bottle, barbecue utensils, meat rubs and sauces, cleaning products, cooking dishes etc. you will have a much bigger sale . If you do not sell them, chances are the customer will acquire them from another store later. If you sell quality products at reasonable prices, chances are the customer will buy from you. If they do not buy that day, chances are if you keep contacting them with specials etc. they will return to purchase from your business. They will think of your business every time they have a barbecue and somebody queries them about their products.
However if you sell them a gas bottle, barbecue utensils, meat rubs and sauces, cleaning products, cooking dishes etc. you will have a much bigger sale . If you do not sell them, chances are the customer will acquire them from another store later. If you sell quality products at reasonable prices, chances are the customer will buy from you. If they do not buy that day, chances are if you keep contacting them with specials etc., they will return to purchase from your business. They will think of your business every time they have a barbecue and somebody queries them about their products.
Just having the products available will not increase sales by much. The customer needs to be persuaded of the benefits your service will offer them. You need to create a sales incentive program that is simple and works. Attract and build a top sales and service team. The staff in any company can be the biggest asset but also the biggest liability and road-block to success. Many owners blame staff for not being effective workers but frankly most get the staff they deserve. Owners need to be qualified to employ good staff.
Develop your clients’ understanding of the advantage they get by using your services. Market this!
This could be what you do better than your opposition or it could be a guarantee such as, “if out tradesmen are more than 10 minutes late, the service fee is free”. It could also be explaining the extra quality or service that is built into your product/service.
Develop networks of non-competing clients and suppliers who deal with the same people you do.
Offer them an incentive to recommend clients to your business. If the person becomes a client, they get a commission or a fee paid when the new account is paid. It is easy money for them and they are actually helping their customers by introducing them to a product or service they may need.
Substantial bonuses for attending your meetings or signing service agreements.
Take a seminar for instance, where you could have 50% “no show “. If you charge $1000.00 for the seminar and have a prize for turning up (such as flights and a weekend in Sydney), then the client will see immediate value in the trip and they will also see that they are getting a lot of useful advice for a much smaller amount of money.
Get referrals and place in your reception and use them if you can in your newsletters.
These are probably the most powerful marketing tool you can have. It is promoting you and your business
Cold weather, wet weather, hot weather etc. all present sales opportunities for some businesses for advertising. The use of SMS as an advertising tool is also very useful for some businesses. For instance, if it is a quiet day, an SMS to all customers that you have a lunchtime special can result in significant sales.