Want to Grow Your Business? Make an Irresistible Offer
My clients and many of my readers are small and home-based business owners, and one of the biggest struggles they face is getting new customers.
Getting new customers is costly and requires a repeated effort. Once you have a customer it is easier to retain them as long as they are receiving value and benefit from their relationship with you.
I recall a woman I dealt with years ago while I was serving as an executive member for our police association.
The legal name of the association was changing and we needed new letterhead, business cards, etc.
I knew this woman was trained as a graphic artist and was starting her own business.
Always wanting to support new entrepreneurs, I asked her if she would be interested in preparing several samples of draft letterhead and business cards for our review.
She was excited about the opportunity and informed me she didn't have any set prices, but would create some designs and provide a proposal if we decided to accept her work.
She provided three samples to choose from. The designs she created could be used interchangeably on the letterhead, envelopes and business cards.
Her work was good. Our Executive Team reviewed the samples and selected a favorite.
I contacted the woman several days later and informed her we liked her designs and were interested in purchasing one. I then asked her to submit a written proposal for our consideration.
When I received her faxed quotation I almost fell off my chair. She wanted $750! She provided a breakdown indicating $200/hour for three hours work, and $150 for the design.
When I presented the quotation at the next executive meeting, the team members' jaws dropped and the graphic artist's proposal was unanimously denied.
What was her fatal mistake?
She was building a new business and although she may have had exceptional skills and the potential to become a high earning graphic artist, she didn't understand marketing strategies.
She didn't understand the concept that acquiring the client is crucially important and that once you have a relationship established, it is easier to sell to them again in the future.
It is important to recognize the lifetime value of a client or customer instead of focusing only on a one-shot, money-making deal.
If this woman had provided an irresistible offer, she might have established a relationship with us and could have created the opportunity to sell again and again as we required brochures, posters, etc. for ongoing events.
In the end, she invested three hours work and walked away with no client and no money.
What is the lesson here?
You have a huge responsibility to do whatever it takes to make it easy and irresistible for a potential client to enter into a relationship with you.
You don't want to make it difficult or impossible.
Everything you do to secure a client should revolve around making is easier and more appealing to do business with you.
You want to make it easy for a prospect to say yes to enter into a relationship with you because once you have established that relationship, you may keep that client for many years during which you may benefit from referrals, ongoing purchases and higher level purchases.
Think about what you're doing now to attract new clients and what can you do differently to create an irresistible offer for them - something they just can't say no to.
This week, try something new. When you communicate with your next prospect, make an irresistible offer and see what happens.
Laurie Hayes, a Life Strategy/Small Business Coach, works with small and home-based business owners who are overwhelmed by wearing too many hats. To subscribe to her free newsletter visit http://www.wheretheheartis-lifecoaching.com
Is Your Business Property Safe and Secure?
Security Professionals provide the products and services necessary to create a safe and secure workplace for you and your employees. Products such as lever hardware, panic and exit devices, desk locks and high security key control systems, as well as security boxes and safes, can help you protect your business and property. In addition, electronic access control systems can be designed to restrict access to the building or business complex in order to increase security and control.
A Small Business Consultant Can Help in Many Ways... But One Thing He Can?t Provide
A consultant must remember that the business belongs to the client. There is always a danger that the consultant will take a dominant position to the detriment of both of them.
Small Business - Big Business...Whats the Diff?
Small Business, Big Business ? What's the Diff?
Book Yourself Solid Key #5: Go Forward With Gusto & Articulate What You Do
Want your small business to flip instead of flop?! Statistically half of the entrepreneurs reading this will be out of business in three short years. Establishing a long standing, profitable and successful business absolutely depends on your ability to convey a clear message. A heartfelt message that tells clients exactly what you do, the specific 'invest-able opportunities' you bring to the table and all the ways clients will have a bigger, better, fuller life as a result of working with you.
To Buy A Fat Pig
What does buying a fat pig have to do with your business? Stick with me and all will be revealed.
Do You Need Accounting Software for Your Small Business?
If you're anything like me then you dislike with a vengeance doing your accounts and taxes.
How to Promote Yourself to Small Business Riches
You've heard it before; we're living in an information age. The business world is no longer driven by tangible products but on information and ideas. Internet based companies or other companies that use the Internet as an integral marketing tool that don't tap into information-based products or services could soon find themselves without customers or with lackluster sales.
What To Consider Before Buying A Franchise
Here are some useful tips on what to consider before buying a franchise. Before investing in any franchise system, be sure to get a copy of the franchisor's disclosure document. Sometimes this document is called a Franchise Offering Circular. You should read the entire disclosure document.
The More you GIVE the More you GET
Why give freebies?
Are You a Small Business Casualty?
When a person knows and knows not that he knows. Teach him.
Politics, Environmental Rules, and Mobile Car Washes
During the California Recall Election, I was very interested. Without getting into the political scene at all; my entire company, The Car Wash Guys, and all our staff and franchisees were closely watching The California Recall and Election. Why you say? Why would a National Car Wash Franchising Company care much? Well we have some friends of past days who were very much involved there. See some of these articles and find out how we were assisted in our early company years by Mr. Tom McClintock (Rep) of California who was running a very close third in the election with the fastest moving up numbers in the polls. We all wondered would it be The Terminator just like in the movies? Arnold Schwarznegger, who promises to terminate bureaucracy or will it be Mr. Tom McClintock? We did not believe that California will choose more of the same regime or elect Mr. Bustamonte. Tom McClintock's assistance to our company when we were the smallest of small businesses helped us from bureaucracy and un-ethical competition. To this day he continues his ideals and does not waiver on issues.
Employee Monitoring - Business Risks For Employers And How To Avoid Them
E-mail and Internet use are integral parts of the typical worker's daily routine. Because of its speed and overall convenience, e-mail has replaced the interoffice memorandum as the preferred method of communication. Employee access to the Internet also is important as a means of conducting job-related research and transactions.
Secrets Revealed To Having The Most Professional Staff On The Telephone!
Do you have all the customers your business can use?
Small Business Publicity -- Worth It?
You bet it's worth it. Publicity via news releases, along with building relationships with reporters and editors is really good for your small business.
Small Business - A Thing Worth Doing Is Worth Doing Badly
A thing worth doing is worth doing badly. Yes I know that it should be 'well'. My grandma drummed into me that whatever I did I should do it as well as I possibly could.
Your Babys Ugly..and Youve Got Bad Breath
I've got good news and bad news. The good news is that 98% of businesses are small businesses. That bodes well for the entrepreneurial spirit that has made our nation great. The bad news is that 80%, that's right, four out of five new businesses will fail in their first five years.
Chamber Membership will BOOST your Business
When is the Chamber ideal for your business?
(P)Refer to Grow Your Business
(Although this article is geared towards small business owners, the information is just as applicable to a similar personal situation, only the action is slightly different.)
Three Big Barriers To Small Business Marketing Success
When you feel like you're always busy working on your business, but not getting where you want to go, it can be frustrating trying to figure out how to get your marketing on track. It can easily become a "not seeing the forest for the trees" feeling.
Round Pegs In Round Holes: The Amazing Secret of Succeeding in Any Business Every Time!
Success is the desire of everyman on the face of this earth.There is no normal human being without this yearning.Unfortunately, statistics shows that just about 4% (some evenquote 2%) of the human race experience real success. I hopeyour dream is to be among this 4%. The fact that you arereading this article right now shows your desire. My purposeis to help you succeed.
|© Athifea Distribution LLC - 2013|