As a small business owner, it’s essential to recognize that, even in today’s wired economy, there is a simple solution that delivers all the elements of a successful small business marketing strategy. I said simple, not easy.
This secret strategy, simplistic as it sounds, is rooted in the most basic of business axioms: the majority of business success comes from, or through a small group of satisfied clients and helpful colleagues.
Your most valuable and valued asset as a small business owner, today more than ever, lies with the customers you have (or have had) and the professional relationships you cultivate. Implement these practical, proven strategies to better leverage relationships:
1. Over-deliver value to clients. Your clients make the ultimate commitment by sharing their hard-earned dollars in exchange for your product or service, in spite of all the choices they have. Ensure they walk away perceiving they received more value than they expected or anticipated. As well as being more confident about your relationship with them, you’ll be unleashing an all-too-often under-utilized resource that will have you standing above your competitors.
2. Leverage client relationships. Your clients represent your most powerful asset and your most productive resource. Confirm their satisfaction and collect client testimonials. Then, invest more time communicating with them to discover additional needs or requirements. Ask about their lives and what their interests are. By building your relationships with them, they will think of you first, even when bombarded with advertising about others.
3. Exploit the network effect. The majority of your “best” clients have similar traits and characteristics: where they live, what they do or what they like. Make it a point to ask about these important life categories. When you confirm one or a number these, check what groups or networks they belong to. This may represent a tremendous opportunity for you if you can access, then leverage this group of like-minded people. Why not ask to attend the next event they attend? What a perfect opportunity to get introduced to other like-minded individuals.
4. Invest in creating advocates. You have a network of partners and stakeholders who support and interact with you on a daily basis. Think in terms of your accountant, banker, professional colleagues or business neighbours. What have you done lately to incent these powerful resources to promote you to their contacts and networks? Referrals are reactive. Become the professional others think of first when it comes to your product/service, by contributing to their lives in some way. The principle of reciprocation is one of the powerful forces in the universe. Put it to work for you.
5. Focus on the five percent that matter. Research has consistently proven that a core network of relationships contribute the majority of our results in business and in life (roughly about five percent of your relationships). As a Small Business Owner, make it your mission to identify and nurture these high-value contacts. Once you’ve established who they are, make them a priority and invest more time, energy and resources to remind them of your value. Find a way to continually contribute to their success. They’ll be happy to refer to their family, friends and clients
Accelerate the success of your small business by:
• Confirming client satisfaction and collecting testimonials.
• Invest time to gain a greater insight into lives of your clients.
• Commit to asking about your clients’ networks and tap into these opportunities.
• Keep a written list of your highest-value relationships and invest in maintaining them.