Does Your Business Marketing Plan Have This As Step 4?
This step of your business marketing plan is about getting new customers that are easy to sell to and have a low cost of acquisition because others do the work.
In the article titled “Does Your Business Marketing Plan Start Like This?“, I talked about your need to build a five star culture within your business and there were two main reasons for this:
- People that have a bad experience with your business will tell anyone and everyone that will listen how bad your product or service was and that can kill your business.
- Satisfied customers, on the other hand, will rarely go out of their way to leave a positive review or to tell others about how good your business really is and why they should do business with you. That is why I stated that you need to have a system in place that makes it easy for customers to leave reviews in an environment that you control.
The article titled “Does Your Business Marketing Plan Have This As Step 2?“ was about expanding your reach to get more customers using methods the cost you time, money or both and Does Your Business Marketing Plan Have This As Step 3? talked a little bit about retaining customers once they have been acquired and reactivating old customers that haven’t frequented your business for a while.
Now that you have more customers and have a plan in place that will help you keep them, it’s time to put something in place that will reward your customers when they refer your business to their friends, family and acquaintances.
The rewards that you give your customers for doing word-of-mouth advertising are going to be less expensive than most paid advertising methods. These new customers will usually have a certain amount of trust in your business because it was referred to them by a friend.
You don’t necessarily have to have a full-blown affiliate program in place for your business. Depending upon your business type, you may be able to offer:
- a percentage off the monthly fee that is paid for your services.
- an upgrade to services that are currently being provided.
- a gift card.
Use your creativity when thinking about what type of incentive program you want to put in place to reward your customers for bringing you new business.
Before you implement any reward program, make sure you are aware of any laws that may govern the type of program that you wish to use.
There are many different ways you can grow your business but most, if not all, of them will fit into the framework that I have outlined in the last four articles I have written. If you have missed any of them, they are all mentioned in this article I hope the information will help you refine your marketing plan and grow your business.
Last 5 posts in Marketing
- 4 Ways to Grow Your Business Through Referrals + My Thoughts - October 14th, 2017
- Why Retargeting Works And Why You Should Use It - October 13th, 2017
- 3 Ways To Stretch Your Online Paid Advertising Budget - October 7th, 2017
- You Need These 4 Things For Your Business Online Reputation - September 23rd, 2017
- Are You Continuously Building Your Online Reputation? You Should Be - September 16th, 2017