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You’ve Got to Know in Order to Grow!

Joining a membership organization is a great strategy when you are looking at ways to grow your business. But the buck doesn’t stop there. To see results from your membership, develop a plan before you join. All too often, business owners walk away disappointed at the organization when it was their own lack of purpose that caused a lack of results. Here’s what I mean by that. Many small business owners have no clue as to who their most profitable target market is and how to service them. It’s not uncommon to hear a hair stylist, for example, say their target market is “anyone with hair”. Well, even obnoxious, mean spirited people have hair. Do you want to service people with obnoxious personalities or mean spirits?
Knowing your most profitable target market is critical because you will need to articulate this information to the other members of the organization you plan to join. Instead, many WBOs focus on their offering. They’ll say something like, “I am a graphic designer” or “I am in marketing”. That’s fine, but in order for others to provide qualified leads and referrals to you, they need more information. And if you can’t give them that information in a clear, concise, quick fashion, you lose out. Take some time to develop a marketing plan. Doing so will assist you in identifying who your most profitable target demographic is and even more importantly, what their needs are. Now, you can grow your business by stating to member organizations what niche you serve and what you can do to meet their needs.

Customers today are quite savvy when it comes to spending their hard earned cash. Customers are bombarded with marketing messages. Plus, they have a lot to choose from. All is not lost though. Word of mouth referrals can still work when you build relationships. I've heard it said, "people do business with those they like." That's true. However, there is more to it than that. People do business with those they trust. Credibility is a must. Keep your appointments. Don't over promise. Always do your best. Follow-up. Give more than is expected. And above all else, smile!

WORD OF MOUTH REFERRALS - A Thing of the Past

Many successful businesses have been built on word of mouth referrals. But is that a thing of the past? Perhaps. According to Dr. Phil, 67% of women's conversation can be considered gossip - that is, talking about someone else. Men are right behind, by the way, at 55%. With so much of conversation being spent on idle chit chat, getting someone to talk about your business may be virtually impossible. This makes networking all the more critical when it comes to generating word of mouth referrals. That's why so many WBOs turn to B2B networks for business referrals and growth. Tell us how you get people to spread the word about your business.

For a list of B2B organizations for WBOs, visit The Energy Tour Cafe.