With all the information overload bombarding the airwaves, it is possible to lose sight of your most valuable asset. When the government forces us to make important decisions that affect every aspect of our lives, we might assume that the equipment which affects the environment or our inventory is now our most valuable asset. From our wallets standpoint it sure feels like it.
Your Most Valuable Asset Is…
Actually your customers are your most valuable asset. After all the decisions are made about which new methods to use and the equipment which will speed up production, the bottom line is what are you doing today to get new customers and keep them coming back again, then telling others about you. Without a viable, fluctuating pool of customers, no matter how fancy your new piece of equipment is, you’ll soon be drowning in utility costs instead of prospering from all the new regulations.
Franchises and entrepreneurs inherently have a problem with brand image. Realistically most of us think of businesses as providing a valuable service. To the consumer the perception is that we’re all the same. I bring my problem to you and I expect you to solve it or create a solution which is in better shape than when I brought it in to you. The consumer in most cases just want their problem solved and don’t care that you’ve had to shell out another $200,000 on a newfangled piece of environmentally friendly equipment.
Owners Can Be Fooled By Perceptions As owners we think we know why our customers buy from us. Convenience, price, friendly service. All the buzz words we see so often used by businesses everywhere.
Marketing consultants will tell you that all you have to do is develop your USP (Unique Selling Proposition) and people will flock to you like mice to a new piece of cheese.
However, today, there is a new game of business. The glut of messages our prospects and customers are bombarded with creates an indifference to all the hype and promises and exorbitant offers. Sometimes our perceptions of why people buy from us can actually fool us into thinking we’re doing all right. As I like to remind my clients, on the average, 15%- 20% of Americans move every year. That means, without making any customers mad, or making any new customers happy, you’re going to lose 15% - 20% of your customers every year.
What Is The Solution?
Mitch Axelrod, author of The New Game of Business TM at playthenewgame.com , says, no longer can we assume why our customers buy from us, we have to ask them and use their answers to develop our U.S.A. (Unique Service Advantage (TM).
Questions such as: “Why do you do business with me?” When you ask this simple, yet powerful question, you will discover in your customers own language the reasons that set you apart from your competitors. You’ll hear a lot of the same reasons but eventually you’ll begin to hear a pattern of responses that will begin to resonate with you and help you develop your uniqueness.
Mitch shares some of his billion dollar questions as a way to add value in advance and show you the power of great questions. It's in alignment with his philosophy of 'adding value in advance' to become the Trusted adviser and service provider of choice. You can get a few more of these BILLION dollar questions at this page, loyaltycoach.com
Marketing in the new game of business, according to Axelrod, is all about “business is personal.” To be more successful, you’ve got to play a new game where you personally qualify the customers you do business with, convert them to good customers, work hard to keep them and encourage them to multiply by referring others.
Allan J. Katz, The Loyalty Coach, helps franchisees and entrepreneurs qualify, attract, convert, keep and multiply customers. He is the author of the Complete Guide To Retail Loyalty Marketing and 4 other books on marketing for entrepreneurs. His popular ezine, Remarkable Marketing Results contains tips, hints, case studies and proven strategies to grow your business to the next level of success.
Getting Your Message Heard Amidst The Clutter - To learn more about this author, visit Allan Katz's Website.
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Allan Katz
(Visit Allan's Website)
Allan J. Katz is the author of several
books on marketing including The Complete
Guide to Retail Loyalty Marketing, (loyaltycoach.com/completeguide.php
and the Ultimate Marketing System
for Dry Cleaners. www.cleanermarketingresults.com.
His ezine, “Remarkable Marketing Results,”
is read by over 3,500 subscribers each
month at LoyaltyCo
ach.com.
Allan is a "Certified Professional
Innovator TM with a keen insight into
identifying business opportunities using
strong creative intuition coupled with
practical, common sense thinking. His
unique blend of analytical idea generation
and excellent ability to identify the
needs and interests of others generates a
powerful bond with clients. therainmakersroundtable.com
He is former President of the Direct
Marketing Association of Memphis. He
presents seminars, workshops, lectures and
keynotes on loyalty marketing, problem
solving, idea generation and persuasive
communications.
He served as an adjunct professor at the
University of Memphis Continuing Education
Program on such topics as The Basics Of
Direct Marketing, How To Start A Mail
Order Business, Marketing Your Small
Business and Problem Solving.
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Loyaltyblog - For savvy small business people and entrepreneurs who want solid marketing advice on how to attract new customers and keep them loyal. I'm The Loyalty Coach and my mission in life is to help retailers and service companies attract more customers and keep them loyal through the use of proven marketing techniques & tactics I've perfected for my clients over the past 25 years.
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