The Radio Show
Identify New Users for Existing Offer
Join Simone Douglas for her second radio show episode, part 1, with the IBGR Network – Results Radio as she shares her insights into Identifying New Users for Existing offer.
Week two of your seriously social journey, a path that changed the way I do business forever and whose benefits regularly surprise me in terms of the opportunities they generate.
It is easy to get distracted by all the noise in the business world at large but jump day is your chance to settle in and work on your business in ways that allow you to make the most of your opportunities today, tomorrow and forever.
What’s the hardest thing about growing a business? For many small businesses, the answer is finding clients or getting customers. Customer acquisition is particularly difficult if your marketing budget is limited. IN today’s show I will take you through some time-tested strategies to help build your customer base.
IBGR is committed to your success and our programming is designed to give you the tools and resources as well as the one percenters you might be missing that are the difference between feeling like you are stuck on repeat and that weekend getaway you book yourself to celebrate hitting your milestones this quarter.
Have a fantastic week, hopefully we have turned your hump day into jump day and you are all fired up for success.
Show Objectives – The Why
Like any good business customer acquisition in the beginning is easy to a degree, but eventually you find yourself asking – what’s next? How do I grow without reinventing my business model? What else is out there?
Key Issues – Owner Perspective:
- How to find new customers and increase sales.
- Defining the market for my product or service
- Generating sales leads and closing the deal.
- Building your referral networks and strategic partnerships.
What You Need to Know – The What
- Define the ideal customer.
- Develop a plan for customer acquisition
- Look for and follow business prospects on social media (define your SNAP)
- Market research – the top 100.
- Work within and expand your networks.
What You Need to Do – The How
- You can get to know your customers and segment the market any number of ways including the ones below:
- Demographics — statistical data on a population including income levels, age, etc.
- Psychographics — the attitudes and tastes of a certain demographic.
- Ethnographics — examination of particular cultures.
- Buying habits — how, what and where customers purchase products and services
- There are a variety of age-old staple techniques and newer tools you can use to find new customers and increase sales. It’s best to understand the choices you have in order to determine which may best allow you to reach new customers
- Cold calling – tried and tested but works on the basis that it is a numbers game
- Networking – it is important to evaluate both structured and unstructured networking events
- Digital advertising – Google, LinkedIn, Facebook, instagram and Twitter
- Event Sponsorship
- Run your own events
- Cross collaboration and promotion
- SNAP – Your Social Networking Action Plan – there is way more to Social media than just the marketing understanding and mapping out your “SNAP” will drive action and success
- Identify the top 10 mid tier companies in each market segment and reach out to them by phone to do some market research (100 calls in 10 days).
Previous: Episode C3.007 Opportunities to Increase Share of Wallet with best Customers
Next: Episode C3.009 Balance Between Selling to the New and Servicing the Old
Written by Simone Douglas
The Publican & Licensee of the Duke of Brunswick Hotel, Executive Director for BNI Adelaide North one of the biggest networking organisations in the world, the driving force behind South Australia’s leading social media agency, Social Media AOK and now best-selling author with her first book “Seriously Social – turning your online game into real-world gain”.
You’re listening to IBGR our call sign for the Internet Business Growth radio network. The broadcast frequency is our URL and it’s IBGR.network we provide live and recorded shows 24 hours a day seven days a week on what an entrepreneur or small business consultant needs to grow their operation from zero to big, how big? Up to you. IBGR focuses on the 180 million English speaking small business owners around the world in four major markets North America, Australia, Oceana, the Indian subcontinent, and United Kingdom, Europe and Africa. All of these six hour cycles are delivered in six major themes strategy, operations, sales, people, ownership and consulting. The first four tracks strategy operations, sales and people on the day to day tactical issues all entrepreneurs face. The fifth track ownership takes the conversation to the next level. How can an owner working in the business make the transition to an executive of a multi million dollar firm by working on it? Our last track consulting is for our brothers and sisters with the same Mission as IBGR, helping small business owners grow. I bet you didn’t know that 57% of everybody on the planet is employed by a small business owner. Let’s team up and help business owners increase generational wealth for themselves and their family while creating good jobs in their local community. Our team has over seven decades of helping them building businesses, we have turned those years of experienced radio shows, and downloadable tools that any entrepreneur whether you’re an independent contractor, solopreneur, or business owner can apply immediately. All you have to do is download, listen, apply and engage. Download the show notes that address current issues in your business. Listen to the show live or as a podcast. Apply the information and tools. Engage us with your experience and feedback. If you really want to maximise your time spent when IBGR, join our community and have access to our toolbox. This just scratches the surface of what you will receive every day that IBGR the opportunity to grow with us is only limited by your imagination and persistence. Let’s grow together and put the world back to work. Thanks for listening
Simone Douglas 2:29
Morning Australia and hello world, you are listening to the IBGR network now known as International Business Growth Radio Network, bringing business owners and entrepreneurs journeys to you from around the globe and helping you succeed where you perhaps have previously failed. I am Simone Douglas, your host for today’s seriously social journey into the humanistic approach to sales and marketing. And depending on where in the world you are joining me from I hope you’re either having a great cup of coffee or a good single malt whiskey. So early morning here so I am on the caffeine train. Throughout the show I would love to hear from you so if you have questions or comments you can tag us on all the usual social channels just search IBGR network and if you tag me in as well, I’ll be sure to get back to you. You’ll find all of my links on the show notes on the website, or just search Simone Douglas sm to find me on the usual places. So you can listen live four times per day around the globe. If you’re tuning in from Toronto, Canada. This show goes from 2pm to 3pm. In the afternoon, Sydney, Australia it’s 10am local time that we kick off. In Mumbai, it’s a little bit later 1130 at night, and a London England you have me for the lunch hour 1pm to 2pm. This episode is episode eight you now C lane at IBGR.network sales and marketing. Go to our website IBGR.network and download the show notes. Today we’re going to be talking about identifying new uses for existing offers. It’s easy to get distracted by all the noise in the business world at large, but jump day is your chance to settle in and work on your business in ways that allow you to make the most of your opportunities today, tomorrow and forever. What’s the hardest thing about growing a business really? For many small businesses the answer is finding clients or getting customers. Customer acquisition is particularly difficult if your marketing budget is limited. In today’s show, I’ll take you through some time tested strategies to help build your customer base IBGR is committed to your success and our programming is designed to give you the tools and resources as well as the one percenters you might be missing that are the difference between feeling like you’re stuck on repeat, and that we can get away that you book yourself to celebrate hitting your milestones this quarter. Like any good business, customer acquisition in the beginning is easy to a degree. But eventually you find yourself asking what’s next, how do I grow without reinventing my business model and what else is out there?
The key issues from an owner perspective, most often, are how to find new customers and increase our sales, defining the market for my product or service that’s out there, generating sales leads and closing the deal when we started the conversation and how to build your referral networks and strategic partnerships. So, by the end of our time together, you’ll have a clearer understanding of how to define the ideal customer, create and refine a plan for customer acquisition. look for and follow your ideal prospects and suspects on social media in a way that connects and engages, and work within and expand your networks in the ways that count. If this is your first time listening, welcome if you’re returning listener, thanks for being part of my seriously social global business community. So, if we go back to the key issues, how to find new customers and increase sales is number one. So, often some of the things that we tend to take a look at from this perspective are who is it that we actually need to be talking to and getting a really clear definition about who our most profitable types of customers are? Because there is absolutely no point replicating our most non profitable customers. Now profitable customers can be defined in all sorts of different ways. I like to look at it from a time cost and a profit margin perspective. Okay, so sometimes we have customers that pay us a lot of money, but they take up all of our time, and they’re not your most profitable customers, because it doesn’t leave you a lot of time looking for those new customers. So one of the ways that you can have a look at that as from a personality profile perspective, and I’m always very big on paying attention, particularly in business to business around what it is that I like about the customers that I work with and what types of personalities I tend to work with. So often I will work with the more dominant style personalities, typically the disc profile. So the high Ds of the world, they tend to get along really well with me because like, for like is good. So if I have a conscientious type personality profile, I’m more likely to have one of my team work with them. That is happier to go into the minute detail. So having some clarity around the types of customers, but also you need to really have a look at the types of industries that you work within and replicable, replicable segments. And what I mean by that is, you know, in our space, we do a lot of work in the health sector in Australia, and one of the reasons that we’re so well known for that is because we know all about the different APRA guidelines that people are bound by in Australia. So it means that business owners who are really risk averse don’t have to have concerns around that because I lecture in that field as to what doctors and you know, plastic surgeons and all sorts of people what they can do in that marketing space without getting themselves into trouble with their licencing board, o that would tell me where I could find new customers that are really aligned with that specific USP. Once you’ve defined the market for your product or service, though, some of the other things that you’re going to really need to be aware of are, you know, how do I take that product market or that service to market? How do I find, you know, where I need to be and get myself in front of my customers and there are lots of different things that we’re going to explore today. We’ll take a really good look at digital marketing and advertising, so the difference between organic content and paid content. We’ll have a bit of a chat about key messages, and the difference between implied selling and implicit selling the two very different things. But we’re also going to have a look at how do we make friends without referral networks, so if we’re looking at where most of our customers come from, it becomes really important to track who’s sending you the most customers. One of the most valuable things that you can do is work out your referral percentage to give you a felt sense of how much of the market that you’ve got. So Robin Dunbar has a theory that every person has at least 150 relationships that they exert influence over. So if you think about it, your top four referrers. So the people that refer to you, the most people are the most customers in the last six months. You write their names down on a piece of paper and next to each of their names write how many referrals you’ve received from them in the last six months. Okay. And then if you divide, if you add all of those together, so the four people the number of referrals, you add them together, and then you divide them by 600 and times it by 100, that will give you your referral percentage. Most people who don’t have a strategic plan around their referral based marketing will usually come out with under 5%. They’ve got under 5% of the market that’s available to them with their top referrers, and it’s because they haven’t put a strategy in place to allow them to maximise what it is that they’re trying to do. So these are all kinds of things that you need to really evaluate. And also understanding whether you’ve got the right types of referral partners, and whether you’ve given them all of the information that they need in order to be able to refer you successfully. So one of the key elements that we miss most often is that we don’t tell people how we like to be referred, we leave it to chance. Okay, so one of the things that I go out of my way to do with my referral partners is I say, you know, in an ideal world, if you want to refer me, you need to give me a phone call to give me the backstory on the potential client, what their personality type is, the types of communication they like when they’re expecting my call, so that I can make sure that I meet their expectations and needs, and can communicate with them in the style that they would like. So from there, I always ask that they do an email introduction, joining the two of us together so that everyone has each other’s contact details and then from there, I start with coffee. So having a systematic approach to the way that you educate your referral partners to refer you in means that they’re comfortable about those expectations. You also need to have a plan for how you’re going to thank those referral partners for the business that they’re regularly pass to you, and I’ve always found that the personal approach works much better than anything else. And so what I mean by that is getting to know your referral partners well enough to know whether they would prefer a good bottle of whiskey, or maybe they really like reading business books, or maybe they have a keen interest outside of work. So it’s about having those things to actually support people in a way that stands out because just getting people bottles of wine or giving them cash, while it’s nice, it doesn’t really personalise and solidify the relationship. So I think those are things that you really need to consider in order to make make the most out of things like that. So some of the things that I really like to do as well, is with my customers or my potential new customers getting really clear about where I need to network. So we’re going to run through some structured and unstructured networking environments where you can actually start accessing your best customers or best potential customers. And you need to have a strategic networking action plan or a SNAP, I like to call it for short, we’re not talking about the card game that I played as a child, but we’re talking about really having put some thought into how you’re going to do your networking, what that looks like, how often you’re going to do networking, and how you’re gonna follow up as well. So what’s your follow up process off the back of that. All of those things are going to be really important as we go through the show today.
So like I said, we’re going to run through all of these things in a little bit, we’re going to take a short two minute break and when we return, we’ll get into the detail on what we really need to be looking at in order to successfully define, engage with and grow our customer base and referral networks. Join the global community that is IBGR. So become a member of our insiders network by going to our website and clicking the Join Us link. Don’t forget to connect with us in real time during the show, so if you look for the pulsating orange question mark on the website in the lower right hand corner of most pages, you can click it to ask questions or share comments about the show that will get back to me and I will be able to run you through those kinds of things as well. Okay. And you can also join our insiders network and be part of that active conversation during the week outside of showtime, so if you want to access any of the on air talent, the best way to do that is to actually join that network and start having some conversations with other business owners from around the world, which is a pretty exciting thing to be able to do. And that becomes part of your wider referral network if you’re connecting to those people as well. So you’ve been listening to episode eight in our C lane at IBGR.network sales and marketing, International Business Growth radio network. I’m your host, Simone Douglas, and we’re going to get back to business very shortly after a little bit of a break running through some of the exciting things happening on air.