How Word of Mouth Messages are Delivered and How You Can Influence Those Messages

Posted by nancybaki on February 5, 2019

 

 

 

 

 

Decoding Word of Mouth Messages

Today’s lesson will talk about how word of mouth messages are delivered and how you can influence those messages.

There are essentially 3 methods of word of mouth:

  • Expert to Expert
  • Expert to Peer
  • Peer to Peer

 

When experts are talking about your products or service you will usually receive an amazing rush of sales and new customers, so obviously this is one of the best things that can happen. You can also help to facilitate this by offering free products to experts for them to review.

Expert opinion can also bring about new ideas that help to fuel new products, services and operating systems within your company. If you take the time to change or develop the opinions of even a small group of experts, you will have the opportunity to help your market explode.

There is a standard word of mouth delivery system that, in most cases, takes a few years. But, you can speed this up into only a few weeks. The standard system is:

  • First impressions from an expert
  • Organized trial of your products or services
  • Pooling peer experiences

 

It’s important to know exactly who is advocating for your products and service. Take the time to find out who they are and reward them. While, you may already have a customer service system for filing complaints, do you have one for compiling praise? Most likely not. If you take the time to show these people appreciation, they will help take your products and services to the top.

Some of the ways you can show them appreciation are:

  • Invite them to a customer appreciation dinner
  • Offer to video tape their testimonials
  • Ask to interview them for feedback to improve with
  • Offer them a premier customer membership
  • Ask them to join a referral incentive program

 

There are lots of things you can offer your biggest fans to help spread the word about your products and services.

Conventional media has been around forever and while it can still be effective, it’s lost a little of its luster over the last few years. There are a few reasons for this:

  • Expensive and doesn’t necessarily return results
  • Boring, lacking something fresh and new
  • Too short of a time slot to offer enough information

 

While these are all true, there are ways you can make conventional media work for you. For the information to be effective it needs to be presented in the right sequence, come from the right sources, be relevant to the target customer, be credible and be delivered at the right time in the medium.

We’re going to switch gears a little and talk about the two phases of the product adoption cycle. Traditional media is great for taking you through the information stage where you can offer the information you need to your potential customers, but it’s not so great for measuring the results of those efforts.

Without these results you can’t fine tune your marketing and therefore can easily miss the boat and lose potential customers and waste a whole lot of money. Once a consumer has the information they need, they’ll go through a verification process as they analyze whether or not the purchase was a good one. They generally get their information through:

  • Direct experience with the product
  • Interaction with peers using the same product
  • Experts’ experience
  • Scientific journals and other resources
  • Independent reviews and opinions
  • You can accelerate this process by:
  • Providing your own demo’s and free trials
  • Offer them indirect experience through the experience of others
  • Offer a good true story that can be passed around

 

Once you have the ability and are able to work through these concepts, you will be able to target your customers much better. If you need help with any of this along the way, try our FREE test drive to gain access to an experienced business coach and consultant.

Check it out at www.BestEntrepreneurSolutions.com/guidedtour

 

To Your Success,

Nancy Baki at Best Entrepreneur Solutions

www.BestEntrepreneurSolutions.com

Customer Service Can Make or Break Your Business!

Posted by nancybaki on December 12, 2018

 

 

 

 

 

 

Shhh… I Have a Secret

Customer service is a pretty hot topic and can make or break your business. Consumers have little patience for lousy customer service and easily get tired of waiting in long lines, trying to get a live person on the line, going through an interrogation to return something or trying to communicate through a language barrier.

If you provide them with a simple, efficient, pleasant experience they will revisit your business over and over. More importantly, they will tell everyone they know!

There are three secrets to good customer service, the first one we’re going to conquer is knowing exactly what YOU want.

You are the captain of the ship and the visionary for the future of your business, so you need to have a clearly defined plan for your business and that includes customer service. There are three main goals you need to consider:

  1. It needs to be easy for your customers to do business with you. You can do this with advertised discounts, kiosks, your website and other technology based programs to help them shop.
  2. Doing business with you needs to be a warm and pleasant experience. Your staff has to be knowledgeable, approachable, warm and patient. Your customers need to feel like they are getting a good value for their time and money. Perceived value goes beyond the price of the products and extends to their shopping experience.
  3. Change your mind set and ask yourself “How can I NOT afford to do these things?” This shouldn’t be a question of expenses, but making and keep happy customers.

Which these thoughts in mind you also need to take a few things into consideration when deciding on the actual programs and standards you’ll put into place.

  • Share your customer service vision with the rest of your staff.
  • Connect your incentive programs and bonuses directly to customer service.
  • Monitor the level of customer service your staff is putting out.
  • Know when you can ignore what your customers want.
  • Continuously focus on your goals.

 

Now, that you know what you want you can starting thinking about how to meet those wants and create a positive customer service experience.

If you’re having a hard time deciding on what you want, the tools, resources and coaches in our FREE test drive can help you define the wants and needs of your company in relation to customer service.

Check it out at www.BestEntrepreneurSolutions.com/guidedtour

 

To Your Success,
Nancy Baki at Best Entrepreneur Solutions

www.BestEntrepreneurSolutions.com

7 specific areas you need to consider in franchise prototype process (Part 2)

Posted by nancybaki on December 10, 2018

 

 

 

 

 

 

Add Some Compost to Your Business …

In the last post we talked about the first three of the 7 specific areas you need to consider in your franchise prototype process. Here are all seven again:

  • Primary Aim
  • Strategic Objectives
  • Organizational Strategy
  • Management Strategy
  • People Strategy
  • Marketing Strategy
  • Systems Strategy

 

These 7 areas will fine turn your plan for the ultimate level of success. Today we are going to cover the last four.

Think of constructing your business model like planting a tree. At first, it’s so small and weak you wonder if it will even make it through the night. But, you keep watering, fertilizing and nurturing it. Your ideas will grow the trunk and each of these strategies will extend out as the branches of your now strong tree. Finding the perfect support staff, employees, vendors/suppliers and other relationships will make your tree flourish with leaves and flowers.

Management Strategy

The way you structure your management team is not only essential to your growth, but the happiness of your employees and, ultimately, your customers/clients. This strategy is results-oriented and doesn’t depend on the people, but the actual system that’s in place.

A management strategy is, in short, a set of standards that include goals, rules, a mission statement and other concrete things that tell your employees how to act, your management how to grow your business and your customers/clients what to expect.

These should all be in perfect alignment with your business goals.

Employee Appreciation

You need to put together a people strategy that shows your employees how you feel about their job performance and dedication to your business. They also need to understand “why” they are doing specific tasks. This helps them to personally connect to their job which in turn leads to better production and a happier workplace.

There are a number of strategies you can use to keep it interested at “the office”:

  • Performance Incentive Programs
  • Contests that reward high performance
  • Employee of the Month
  • Performance/Holiday Bonuses

 

These are just a few of the ideas you can use. One of the best ways to appreciate your employees is by calling a meeting and asking them how they would like to be rewarded. Think about it for awhile and put the best strategy into play. Keep it fresh and change up the strategy you use from time to time to keep your employees guessing. Once they get used to the prize, it’s time for a whole new approach.

You need to build a community within your company. There needs to be support, appreciation and respect. The more “at home” an employee feels, the better they will perform and the higher their level of loyalty.

Marketing Strategy

Marketing is, of course, essential to the success of any business, but it also must work cohesively with the other strategies you’re using. There are two major pillars of a successful marketing strategy-the demographic and psycho-graphic profiles of your customers.

The psycho-graphic tells you what your customers are the most likely to buy and the demographic tells you who they are, which can help you learn why they buy specific items. Without this information it simply doesn’t matter how good your business prototype is.

Systems Strategy

There are three types of systems in every business:

  • Hard Systems
  • Soft Systems
  • Information Systems

 

Hard systems refer to inanimate system or systems that have no “life”. Soft systems are those that could be living. Information systems which are, of course, everything else, including customer data, product information, financial…anything with data and numbers.

The most important of all three systems is the soft systems because it includes the sales systems your business uses. In your sales system the two keys to success are: structure and substance. Structure being what you sell and substance being how you sell it.

All three systems are essential to the success of your business and while they all have their own very specific roles, they all must work together to get the job done. This also goes for your entire business development program.

I want to take a moment to recap on the ideas we went over through the business develop lessons.

An entrepreneurial myth, or e-myth, is an assumption that anyone can succeed at business with:

  • Desire
  • Some capital
  • Projected a targeted profit

 

There are essentially three key roles that need to be filled to set your business up for success:

  • The Technician
  • The Manager
  • The Entrepreneur

 

The four different stages of a business life cycle are:

  • Infancy
  • Adolescence
  • Growing Pains
  • Maturity

 

There are a few things we are going to talk about:

  • Business Format Franchise
  • The Franchise Prototype
  • Franchise Prototype Standards

 

There are three main areas of business development:

  • Innovation
  • Quantification
  • Orchestration

 

7 specific areas you need to consider in your franchise prototype process. Here are all seven again:

  • Primary Aim
  • Strategic Objectives
  • Organizational Strategy
  • Management Strategy
  • People Strategy
  • Marketing Strategy
  • Systems Strategy

 

We can help you work through all these areas and give your business a jump start that puts you ahead of your competition right from the start. Use our FREE test drive and work with us, plus gain access to a wealth of tools and resources. Check it out at www.BestEntrepreneurSolutions.com/guidedtour

 

To Your Success,

Nancy Baki at Best Entrepreneur Solutions

www.BestEntrepreneurSolutions.com