Going for Gold... Our August Business Matters column
5th August 2016
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Tonight (August 5th) sees the opening ceremony of the 2016 Summer Olympic Games in Rio, Brazil. With 205 nations participating, the Olympic Games is sure to capture the attention of the world. Participants will have the same goal in mind, to bring back the ultimate prize, gold for their country. Success in Rio for Team GB will be determined by human endeavour and effort. This success won’t just come overnight. Our athletes have followed a plan geared towards excellence and implemented it with thorough dedication, all with the aim to achieve gold this summer.

Does your business have a plan to reach success this summer?

The Circles of Success… The Olympic symbol is recognised worldwide and it symbolises the five continents of the world. Metaphorically speaking, for your business the Olympic symbol represents the circles of success, with each circle being a tool that your business could implement to go for gold this summer.

1. Building a Database: if your business does not have a database you’re missing out on an extremely effective marketing tool. A customer database allows you to segment your customers into certain characteristics. This data allows you to tailor your marketing campaigns to certain customers so they are personal and relevant to them. Why not send them a unique offer just for them? 

2. Building a Testimonial Bank: customer testimonials are key to attracting new customers because they provide an honest and unbiased opinion of your brand. It comes as no surprise that 61% of potential customers read online reviews before making a purchasing decision and 90% say that positive reviews of a business influenced their buying decision. With the ease of accessibility to online reviews, it is essential to build a testimonial bank that really showcases your business.

3. Keeping in contact with customers: both past and present customers are the heart of your business. Regardless of the quality or price of the product or service that you offer, customers will not remain loyal on a long-term basis unless they are receiving good service levels before, during and after the sale. Building customer relationships is becoming increasingly important to remain at the forefront of the customer mind and ahead of your competition.

4. Offering a Premium Product or Service: alongside your regular product or service, you may want to consider offering a premium selection. This will enable you to target customers who are looking for a higher quality product or service and it allows you to charge a higher price. Not only will this bring in additional income through higher prices and new custom, it will also help raise your brand reputation.

5. Obtaining referrals: existing customers and prospects can be a fantastic source of future additional custom by obtaining referrals. The acronym EAR is a good starting point. Earn the referrals, by providing your customers with an excellent product or service that they would happily recommend. Ask for referrals, happy customers are wonderful but unless you ask, you are unlikely to receive a referral. Reward referrals, with incentives such as a simple thank you note or an offer just for them. This is a great way to show your customers you appreciate their referral, it will increase the chances of them making another referral and on top of the new customer you have gained, it encourages the existing customer to return to you as well.

So, does your business have a plan to achieve greater success this summer? Ask yourself, do you have the tools in place to win business gold? Do you have a database? Should you start building one so you can use it to engage with your customers, past, present and prospective? Do you obtain testimonials and referrals and perhaps even introduce your premium product or service through it? Now is the time to prepare your winning plan and implement it, just like the Team GB athletes have done, so you too can achieve your gold! 

About the Author


Member since: 23rd July 2014

Ian Noble is the Owner of 'thebestofHastings', the award winning franchise, providing integrated marketing solutions to SMEs, connecting to the Hastings community and promoting local events in 1066 Country....

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