Posted by Chris Kauza on June 10, 2009 under Mid-Week Mindset, Service | 
One owner of a California wine store takes the time to find out the food and occasion for which the customer is purchasing their wine. And even though the customer may be inclined to purchase an advertised or more expensive type of wine, the wine store owner may actually talk them out of it. Why? Because of the product experience.
While he might lose a few dollars of profit on that one sale, he tends to gain more through repeat business. The customers come back to his store because they trust him and they trust his recommendations. He also can spot trends in his market more quickly and easily, allowing him to better manage his inventory. Better inventory management leads to lower costs and higher profits! When your customers know that you are sincere and trust you, they will believe in you and willingly come back for more.
This simple step can be applied by anyone – it only costs you the time to have a conversation with your customers. Anyone can (and should!) do it.
Action Step: talk to 5 of your new customers and make sure they are getting the most appropriate product or service for their needs. Record them in your customer management system, and track their purchases and see for yourself!
Posted by Chris Kauza on June 8, 2009 under Marketing Monday |
Service innovation ideas aren’t limited to sophisticated technology companies or big, expensive consulting firms. Just look at how two different small engine repair shops gave themselves the competitive edge and grow their businesses, step by step.
A marina service operator guarantees parts and labor on all work for 60 days. It doesn’t sell big ticket items like boats, but it does increase engine warranty service sales because he has a receptive, happy customer who is willing to hear the up-sell pitch to an extended service warranty. Annuity business like this keeps customers coming back to his shop – and it separates him from the competition who won’t provide such a substantial guarantee on their work. He also let’s customers drop off their boats outside of marina operating hours, as many customers will come in from the water long after everyone in the shop has gone home. He finds that providing that extra, little service flexibility make his customers happy and keeps them coming back to him for other products and services.
Another entrepreneur, an owner of a landscaping / garden / small engine repair shop, provides additional warranties on all equipment sold in their shop. Further, they offer “off season specials”. For example, to pick up revenue in the winter months when times are slow, he offers to “summer-ize” his customers’ lawn equipment (i.e. – tractors, lawn mowers, etc.). The equipment gets special treatment and his customers feel important and come back to his shop for other needs, because they know they will be well taken care of.
Action Step:
Check up on your competition’s business and look at them through the critical eye of the customer. What are they doing that you could be doing, or doing differently? What are they not offering that you could offer (for free or at a special price), that would distinguish you and make you unique in their eyes?
Come up with one idea that you are committed to implementing within the next 30 days, and get the word out there about what you are doing!
And don’t forget to let us know too – we’d love to let others know about your business success stories!
Posted by Chris Kauza on June 1, 2009 under Marketing Monday |
Light bulbs provide a weak, diffuse light that can light up a large area. Lasers provide a very narrow band of light that has the ability to cut through the hardest materials. Neither is better than the other, but when it comes to your Marketing, one could be better than the other.
With the introduction of “The Long Tail” into our common culture, and tools like the Internet promoting an increasingly wide variety of information and choice, your customers can shop for – and very often customize – products and services into solutions that best fit their needs. And it’s usually without your knowledge or permission! But there are tools you can use and steps you can take to make this work to your advantage.
A home remodeling business owner identified and developed a specialty around remodeling homes for people who were physically challenged. He
over-weighted his advertising dollars to target online and offline publications and venues that were naturally targeted towards these markets. He also participated in discussions on blogs and forums that people who were physically challenged were visiting, often giving free advice and referrals (without giving away his business). AS a result, he saw a marked increase in his business activity.
There are a number of popular Social Media tools out there (like Facebook, LinkedIn, Twitter, etc.) that enable conversations between people with common interests. But did you know you can have these work for you, on your website?
Action Step:
Look at your market and find all of the different niches that are in it. Then, take your top 2 and find online communities and blogs that cater to these specific niches. THE MORE SPECIFIC THE BETTER! Take 30 minutes to really define and refine each one. Now, create profiles on each of these communities and actively participate in the forums and the community at large. Give good advice and be helpful. If there is an opportunity tot support he community by advertising your business, pursue it and show your support of what is interesting to that community. It very often will prove to be a good allocation of your Marketing dollars.
