How To Cost Effectively Double Your Client Base
How To Cost Effectively Double Your Client Base
Imagine having access to a marketing strategy so powerful, it could add tens or hundreds of thousands to your bottom line overnight… but few people ever do it because it seems too simple! In my experience logic and simplicity are disarmingly powerful simply for that reason. Few people recognize their power. I personally have generated millions of dollars for my own businesses, using the strategy we call Host Beneficiary Relationships.
Today, I want to focus on how to benefit from the investment other businesses have made in building their customer base.
First.
An important question for the entrepreneur who is looking for new leads: "Who already knows the people I need to know?" The answers to this question can lead you to one of the most powerful business building strategies I know.
Second.
List down every organization or person who is already connected to the people you need as your customers. Cross off, for now, those with whom you compete directly. (We will deal with how to form alliances with competitors in a later news letter.) The rest of the list represents a direct line to an avalanche of new business.
These people have spent years and vast sums of money to build their customer base. Their customer list is far more than a list of names; it is a list of buyers, who are predisposed to buying from their business. It embodies goodwill and trust and thus a willingness to at least try out anything offered by their business.
This is an asset which would take you years to build but which you can access for very little cost.
Third.
Approach your most suitable alliance partners. Be careful how you execute this, as it is very easy to make people suspicious of your motives. Make sure your motives are win-win. This will only work if done with absolute integrity.
Approach the president of the target company with an offer to increase their revenues and profits with no risk, no cost and virtually no effort. Offer to share profits on all sales generated from their customer base, if they will either introduce you to their customers, or if they will send a mailing endorsing you.
Promise to pay all the marketing costs and do all the work. Few people have time to spare, so don't expect them to invest time in your idea. But be prepared to let them handle the mailing, they may not feel comfortable giving you their list. Your intent must always be win-win. You must provide the funds, you must provide the endorsement letter for them to sign, you must protect their customer base and you must be generous with their share of the profits. In short you must make it easy for them to buy. Don't expect them to do your thinking, so work everything out before you engage.
If you do this right, you will gain on-going streams of revenue from new customers generated through other peoples' assets. Not only will you help your self, you will help them leverage their sunk costs in building their customer base through the revenues you generate together.
Remember this can also work very effectively in reverse. If you have a respectable size of client base, you can be the host, and offer your customers all sorts of products that they need, by setting up these kinds of relationships with businesses who need distribution.
How To Cost Effectively Double Your Client Base - To learn more about this author, visit Michael Hepworth's Website.
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It seems everyone I talk to says that it is getting harder to get responses from their marketing.
Imagine having access to a marketing strategy so powerful, it could add tens or hundreds of thousands to your bottom line overnight… but few people ever do it because it seems too simple! In my experience logic and simplicity are disarmingly powerful simply for that reason. Few people recognize their power. I personally have generated millions of dollars for my own businesses, using the strategy we call Host Beneficiary Relationships.
Today, I want to focus on how to benefit from the investment other businesses have made in building their customer base.
First.
An important question for the entrepreneur who is looking for new leads: "Who already knows the people I need to know?" The answers to this question can lead you to one of the most powerful business building strategies I know.
Second.
List down every organization or person who is already connected to the people you need as your customers. Cross off, for now, those with whom you compete directly. (We will deal with how to form alliances with competitors in a later news letter.) The rest of the list represents a direct line to an avalanche of new business.
These people have spent years and vast sums of money to build their customer base. Their customer list is far more than a list of names; it is a list of buyers, who are predisposed to buying from their business. It embodies goodwill and trust and thus a willingness to at least try out anything offered by their business.
This is an asset which would take you years to build but which you can access for very little cost.
Third.
Approach your most suitable alliance partners. Be careful how you execute this, as it is very easy to make people suspicious of your motives. Make sure your motives are win-win. This will only work if done with absolute integrity.
Approach the president of the target company with an offer to increase their revenues and profits with no risk, no cost and virtually no effort. Offer to share profits on all sales generated from their customer base, if they will either introduce you to their customers, or if they will send a mailing endorsing you.
Promise to pay all the marketing costs and do all the work. Few people have time to spare, so don't expect them to invest time in your idea. But be prepared to let them handle the mailing, they may not feel comfortable giving you their list. Your intent must always be win-win. You must provide the funds, you must provide the endorsement letter for them to sign, you must protect their customer base and you must be generous with their share of the profits. In short you must make it easy for them to buy. Don't expect them to do your thinking, so work everything out before you engage.
If you do this right, you will gain on-going streams of revenue from new customers generated through other peoples' assets. Not only will you help your self, you will help them leverage their sunk costs in building their customer base through the revenues you generate together.
Remember this can also work very effectively in reverse. If you have a respectable size of client base, you can be the host, and offer your customers all sorts of products that they need, by setting up these kinds of relationships with businesses who need distribution.
How To Cost Effectively Double Your Client Base - To learn more about this author, visit Michael Hepworth's Website.
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Joe DagerJoe Dager is President of Business901, a progressive coaching company providing no-nonsense direction in areas such as Lean Six Sigma Marketing and organized referral marketing. What others say: In the past 20 years, Joe and I have collaborated on many difficult issues. Joe’s ability to combine his expertise with “out of the box” thinking is unsurpassed. He has always delivered quickly, cost effectively and with ingenuity. A brilliant mind that is always a pleasure to work with.” - James R. If you want to learn more about Business901, start a conversation with us. We can be found @ Web/Blog: Business901.com Web/Blog: FundingYourNonprofit.com LinkedIn Profile Follow me on Twitter - Visit Joe Dager's Website |
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Casey GollanCasey Gollan, Business Coaching & Mentoring Programs. Add $1 Million to $10 Million in the next 1 to 3 years. Since 1996 Casey has to added hundreds of millions of dollars to businesses. Watch a free video see client results Business Coaching website. - Visit Casey Gollan's Website |
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Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
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