Differentiate Your Business with a Wow Factor
by Tracie Rollins
In today’s economy, competition is fierce. This means that you must differentiate your business from those of your competitors. If you’re not differentiating your business based on price, you must differentiate it based on value. The best way to do this is by delivering a consistent "Wow" experience to your customers each time you interact with them.
Getting started with wow
Wow is the third phase in what we call the Lifecycle Marketing model, which consists of three stages: Attract, Sell, Wow. Getting started with a Wow strategy involves three key stages:
- Deliver and Wow
- Offer More
- Ask for Referrals
Deliver and wow
The first stage in delivering a Wow experience is to deliver more than what you promised. This may seem simple and obvious, but in the hustle and bustle of daily work, it’s often overlooked. To deliver a Wow experience, make sure that you’re providing the service or product that your customers pay for in a timely fashion. Then go above and beyond their expectations by providing additional value that leverages your strengths.
The second stage in delivering a Wow experience is to offer more to your customers. Determining what to offer and when to offer it involves a bit of strategy. According to Stephen Covey, the author of The 7 Habits of Highly Effective People, human beings have an emotional bank account. This account starts with a zero balance and fluctuates based on deposits and withdrawals. When more emotional deposits are made into consumer’s emotional bank accounts, their trust and confidence grows resulting in stronger relationships.
The easiest way to make deposits is to determine how you can help your target customers and provide a solution. The solution doesn’t have to be your specific product or service, nor does it have to result in a sale. Your solution can be as easy as providing tips and resources related to their inquiry.
The key to a strong relationship resides in your ability to make more deposits than withdrawals. After you’ve made a few deposits, you’ll want to make a withdrawal. Timing and positioning is important.
Here are three ways to tactfully increase your revenue while continuing to be helpful:
- Cross-sell: Customers aren’t always aware of the perfect product or service pairings and may be willing to purchase related items that enhance their experience.
- Upsell: Listen to your customers and try to understand their needs. They might be willing to pay extra for special treatment, warranties or monthly programs.
- New products: Remember to help your customers by identifying things that will enhance their lives by notifying them of new products or services.
Here’s example of how Infusionsoft can help you automate the process of offering more to your customers: http://infusionsoft.wistia.com/medias/95yladaks4?embedType=seo&videoFoam...
Ask for referrals
Finally, asking and rewarding customers for a referral completes the Wow experience. Effective referral programs are a big win for small businesses because they help customers develop habits that include your company. Consider establishing a referral program with rewards that are easy to obtain. Providing small gift cards, discounts or movie tickets for referrals is a great way to demonstrate your appreciation.
Customers no longer put up with poor customer service, inefficiency and indifference. They simply choose a different provider for what they need and often times they’ll never tell you that they’ve moved on. Small businesses that want to maximize the value of each customer need to implement a Wow strategy before it’s too late. If you already have a Wow strategy, why not take some time to determine how you can improve it? The Small Business Sales and Marketing Scorecard can help you differentiate your business with Wow.
As a content strategist at Infusionsoft, Tracie Rollins helps small businesses succeed by educating and sharing innovative approaches to solve small business challenges. She applies nearly two decades of experience to marketing strategy, research, and development of content that educates, influences and improves the lives of others. Education provides knowledge, knowledge drives actions, and actions change the world.
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