A Business Growth Lesson Learned Watching A Video
Business growth is something we all want for our own business and the video helped me understand the basics I need to concentrate on to help both you and me grow.
This video has a lot of very good information. While the discussion is geared towards helping marketing consultants at work with local businesses, there is a lot of information a local business owner can use to educate themselves. The text I placed below the video is my interpretation of what Mike Cooch was talking about when he talked about the pyramid.
To make your business grow, you need to concentrate on four different things in the order in which they are presented here.
Your business needs a good reputation because no amount of advertising will help you grow if you have a bad reputation or no reputation.
You may have the best product or service in town but very few people know about it if you have no reputation and if you have a bad reputation they won’t even give you a chance to deliver your product or service.
Once you have a reputation or at least a system in place to develop a reputation, you need to get the word out to bring more people in the door.
You can use a variety of both online and off-line promotional methods to get people in the door. These news prospects can more easily be converted into paying customers once you have a five star reputation.
Once you have a five star reputation, it is much easier to sell more products to existing customers, to upsell them to additional products and to sell them additional products that are related to the original purchase.
It is much easier and cheaper to get an existing customer to come back then it is to acquire a new customer.
Every time you make a customer happy, try to get them to give you a customer review that can be placed on a review site online or give you a written testimonial that you can use on your website.
You might also try to put in place some kind of incentive that rewards customers for referring new business to you.
Make these new customers happy and get them to leave a review for your business and this will further enhance your reputation which will help your business grow even more.
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