Business Success Center

Seven Secrets of a Successful Year!

If you are looking at increasing market share this year, take a peak at the advice Stephen Broydrick offers in his book, The 7 Universal Laws of Customer Value. These laws, as, can truly make your plans for the New Year become a reality.

1. Defy Comparison. Think for a moment why someone should choose you…your service or product over another. What specific benefits do you offer that will make you stand out from the crowd?

Many companies with many unique services or products already in place, fail to use this to their advantage. Determine your marketing differential and then communicate this in order to place your company above the pack.

2. Remove the risk. Let’s face it, we are in a time where consumers are now more than ever keeping a tight reign on both their dollars and their time. Commitment is low and expectations are high. Make sure that all of your communications, whether they are face-to-face or on marketing materials, leave your customers feeling as if they have nothing to loose!

3. Qualify Your Customers. Customers are not always right, and they are not always right for you! Make sure that you have defined your target market, and take care not to focus on cost hoppers that will leave you (literally) on the drop of a dime. Instead, focus on those that see the long-term benefit of your product or service. These loyal customers will sing your praises and make you profits, regardless of your pricing.

4. Narrow your Offerings. Heard of line extension? Too often, we try to be everything to everybody. It never works. You end up spreading yourself too thin with no advantage to your bottom-line. Keep in mind that customers often get paralyzed when there is too much choice. Make it easier and focus on fewer options. It seems to go against human nature, but really less is more!

5. Tell the truth. Realize that when you agree to do something you have a verbal agreement with your customer or client. When you don’t deliver, your customer feels deceived. You become a company or provider that doesn’t hold up your end of the deal. Keep in mind that sometimes this can be something as simple as returning a phone call or meeting a time deadline. Do what you say and your customers will make a positive name for you.

Also, take a serious look at your advertising campaign, and realize that with so many messages out there, consumers start from a point of disbelief. Watch messages that will make them even more skeptical, and use public relations efforts whenever possible to show, not tell, the community about your benefits.

6. Consistency Beats Occasional Excellence. Familiarity breeds profits! No one is a better example of this than McDonald’s. As Broydrick points out, their arches are always golden…you always know what to expect! Instead of spending efforts on one-time plans to “wow” customers, spend time on planning your systems and service to be as reliable and consistent as they can be.

7. Keep in Touch. Stay in your customer’s mind by delivering quality and value and then reminding your customer what you’ve delivered! It’s much cheaper to retain current customers than to obtain new customers. Utilize calls and mailings to stay fresh in their minds. And, don’t forget about e-mail…a wonderful way to reach out that saves you both time and money!

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