Are you a small local business looking for the best marketing strategy to increase your customer base? In this video we’ll show you why focusing on getting new customers isn’t the best marketing strategy for your business. Instead, we’ll discover the little-known strategy that can skyrocket your marketing results right after this.
Competing with larger companies and their marketing budgets can be hard for a small local business. You know that getting new customers is important, but you don’t have the resources or time to invest in expensive advertising campaigns. Plus, even if you do get new customers, they may not stick around for long. The key to success as a small local business isn’t just about getting more customers; it’s about building amazing relationships with your existing customers and creating advocates who will spread the word about your business.
In this video, we’ll show you how focusing on customer relationships can help take your business to the next level by taking your customers through the “Ladder of Loyalty” and increasing referrals. Getting new customers is essential, and it can be very expensive to sell to someone that hasn’t heard about your business before. Marketing to a “cold” audience takes a lot of time and resources to generate leads and convert them.
Why is this so? Because people want to know, like, and trust you before they’re willing to buy from you. This is why focusing on building relationships with your existing customers is far more important than just trying to get new ones.
You see, when we focus on relationships, we’re creating an emotional connection with our customers. This connection leads to loyalty and in turn, it increases referrals, generating more sales for your business over the long term.
The “Ladder of Loyalty” is a concept that highlights the importance of developing strong customer relationships to increase referrals. So the “Ladder of Loyalty” takes someone from “Suspect,” which is someone that fits your target market to “Prospect,” which is someone that has taken action to say, I’m interested to a “Shopper,” which is someone that has purchased from you once.
Each of these steps occurs in the “marketing to new customers” phase. As I said earlier, this is the most expensive and resource-heavy part of marketing, and if you have customers, simply ignoring them at this point will be a waste of all that.
So what will make the most of that investment? That is the next steps in the ladder. Understanding this will help you get the most out of your customer relationships.
So, taking someone from “Shopper” to “Customer” is where we start creating advocates for our business business and building lasting relationships. In this ladder, a “Customer” is someone that buys from you a second time. They have decided that they like you and your product.
At this point, you want to invest in taking the best customers to the level of “Member.” Members have a feeling of belonging and being special.
Next, we bring our best members to the level of “Advocate.” Advocates will tell others about you when they’re asked.
Finally, we bring our best advocates to “Raving Fans.” Raving fans literally do your selling for you. This is why it’s so important to focus on customer relationships to retain customers and increase referrals rather than simply focusing on getting more new ones.
Focusing on customer relationships is critical to the success of any small local business. By leveraging the power of cognitive neuroscience principles, you can increase referrals and drive more sales with less effort. Taking your customers through the “Ladder of Loyalty” will help create an emotional connection that leads to loyalty and drives long-term success for your business. With a strong focus on building relationships with existing customers rather than just trying to get new ones, you’ll be able to maximize your marketing efforts while creating advocates who spread the word about your business. So remember: relationship building always comes first when it comes to growing as a small local business!
Please leave a comment about your experiences in building customer relationships in your business, both positive and negative. Doing so will help others make better decisions regarding building their customer relationships.
Would you like to learn more about marketing strategies or other topics regarding business success? Yes! Great! Then there are a few things that you need to do right now. First, like this video, so I know that you got value, and I’ll make more videos like this one. Second, subscribe to this channel, and click the bell to get notified whenever we post a new video so that you don’t miss a single piece of the valuable information we share.
I’m Doug Barra, and I believe it takes great courage to own a small, local business and for the last 16 years, I’ve been making sure that business owners like yourself get the time, money, and freedom you deserve. Be sure to click the link to learn more about having a business that works without you!
Be sure to click the link www.BusinessSuccess.group/scalinglive to learn more about having a business that works without you.
Thank you for watching.