I am often asked, “how do you retain loyal clients?” While this seems a simple question, it isn’t!
The immediate, traditional responses that comes to mind include showcasing your expertise, and provide quality products, and superior customer service. However, an often overlooked factor impacting customer loyalty is the “value-add”.
What is value-add?
Value-add is often difficult to define because it’s how customers perceive themselves in direct correlation to your contributions. In other words, it is determined by THEIR needs and perceptions, and how much they “value” your relationship and utilize the resources you bring to the relationship.
The Intangibles
These resources are not necessarily your basic or core services; but the intangibles that are difficult and often impossible to measure — the individual “hidden jewels” you offer. Examples of these contributions include:
* your impact on saving time or money
* how the relationship contributes prestige and increased sphere of influence
* understanding “the big picture”, and offering insightful contributions
* ability to create customized solutions to cater to varying needs of different customers
* improved quality control and systems implementation
* input in developing new and advanced products/services
* access to network of service providers and noncompeting business owners
Loyalty Assessment
It is very important that clients recognize and acknowledge the intangible assets you bring to the relationship. When they complete this process and have assessed a high value, they transition into advocates. Eventually, these clients become stakeholders that recommend your services to friends and other business owners. When this occurs, you have developed a loyal client — one that should stay with you for a long time.
It is often difficult to recognize your intangible value-adds. Have you thought about and identified those you bring to a business relationship? If so, please share a few with our readers.
During the months of April and May, I conducted a blog hopping and podcast tour to promote the recently concluded Online International Virtual Assistants Convention (OIVAC).
I was asked several thought-provoking questions during the tour and I’ve chosen to share a few here on the Smart Business Marketing Blog.
Today’s question was asked by Tawnya Sutherland, of VANetworking.com
Is the downturn in the economy affecting the VA industry?
Yes! The downturn has had positive and negative effects. I’m sure VAs without a written business plan and concise marketing strategy are experiencing difficulty, because they haven’t “planned” for situations such as client loss or slowdown.
Also, many entrepreneurs are “price shopping” resulting in “cheap” being the major determining factor when choosing a virtual assistant, instead of “value-add” which takes into consideration an individual’s knowledge, skills, experience, abilities and potential to contribute to the continued growth of the business.
In addition, many VAs “discount” services, believing this will attract and retain customers. However, they fail to realize that by under pricing services they are actually digging a deeper hole for themselves, because while volume may initially increase, when the economy takes an upswing, it will be very difficult to raise rates proportionately for low paying clients.
Also, discounting rates may impact the VAs income potential, lifestyle and eventually health because they may be required to work longer hours or assume a more difficult workload to earn the same income as prior to the downswing.
Foresight and Flexibility
On the other hand, VAs with foresight, flexibility, a targeted customer base, sensible marketing plan, and appreciable skills, will continue, at a minimum, to sustain their business and in many instances increase profits.
Why and How?
Savvy business owners are looking for ways to reduce costs, develop alternative resources, and continue providing valuable-add services to their clients, and VAs (if positioned properly) can fulfill these demands.
If a VA’s income is decreasing because of the economic downturn, I recommend the following:
*Evaluate the situation, conduct research and identify services clients are seeking.
*Confer with current clients, to identify new responsibilities you can assume.
*Become efficient (even an expert) in sought-after skills.
*Develop a marketing strategy for your new target audience, to pull those customers into your business funnel.
*Become a valuable asset to the client.
The state of the economy won’t matter if the VA possess marketable skills, know their ideal clients’ NEEDS and wants, and positions themselves as THE value-add; and a viable contributing member of the team.
What do you think?
Share your thoughts on how the economic downturn is affecting your business and steps you have taken to sustain your income.
A popular, proven strategy that builds brand identity, increases recognition as an expert amongst peers, and helps label you as an influential source in your target market is article writing. However, if you are unsure of the topics that would resonate with your potential customers, or are unaware of resources to help develop an article marketing campaign, I have identified 5 proven strategies that can aid in creating an article writing funnel that can consistently generate topics of interest specifically for your target audience.
1. Surveys: Hidden Source of Story Ideas
3 or 5 question surveys can garner a wealth of information useful in developing new products and services, marketing opportunities, good will and feedback from current and prospective customers. Responses can be used to develop story ideas, providing relevant subject-matter information that can be used in article, service and product creation.
2. Blog Hopping
Develop ideas from other sites’ content. Frequently visit your favorite or the most popular blogs and see what people are talking about. Is it controversial? Can you offer a different perspective? Can you create an article around the topic? Once you develop your article, link back to the originating site. Don’t forget to leave a comment on the site’s blog and let the owner know you stopped by and have expanded the conversation on the topic. You will drive more traffic to your site and increase readership.
3. Analyze Your Blog
Review your own blog and determine which postings receive the most views and reader comments/feedback. Develop a short series on the topic(s) to entice return visits. Use your social media outlets/networks to promote the series and increase blog signups. By giving readers want they want, you will develop loyal readership and capture those all important email addresses.
4. Article Directory Goldmine
Running out of ideas? Visit article directories and read articles written specifically for your target audience. Develop a new “take” on the article’s theme or select an important point, and write about it from your perspective. Article directories are excellent sources for staying abreast of popular topics and you can use them as a starting point to express your opinion and share insights with your ideal audience.
5. Web 2.0: Social Media Opens Doors
Social media venues such as Twitter, Facebook and LinkedIn, etc., offer unfettered access to topics, opinions and experts on literally any conceivable topic. Search these sites for resources and various comments that stimulate your creative writing processes. Create a swipe file of ideas, so you will an ongoing repository of new potential subject matter.
It may take a few months of article writing to really benefit from these tactics, and you may be too busy to implement all of them at once. However, the more options you choose, the greater opportunity to increased visibility and nurture brand creation. As more readers visit your site or interact via social media connections, the greater your opportunity to increase traffic, leads and profits.
In Part 1 of Have You Created Your Marketing Calendar?, we covered what is a marketing calendar and why business owners should have one. Below are examples of activities to include in your marketing map, and administrative tasks related to accurate monitoring and determining your return on investment (ROI) of time, money and effort.
Examples of activities to map in your marketing calendar/plan:
article submissions
blogging dates/topics
social networking
pay-per-click activities
video marketing campaigns
podcast production and distribution
on and offline networking
media releases
product development/sales
virtual joint venture activities
setup an affiliate program
implement a referral program
major and minor trade and association events
on and offline presentations and teleseminars
holiday-related promotions
Track your results
Make sure your website copy and marketing materials are relevant and valuable, and stay current on industry trends and competition, etc. Always check and recheck to ensure everything is on track and/or if you need to make changes.
Don’t forget to handle the administrative tasks associated with managing a marketing calendar. Check and double check your numbers. For example, number of visits to your website, ezine sign-ups, teleseminar attendees, response to promotions, etc. These steps will also assist in determining return on investment (ROI).
There is no “right or wrong way” to create your marketing plan. It’s about what works best for you. Creating a marketing calendar is just one step in the process of mapping your steps and results, as well as is a record for later reflection and assessment.
By tracking your results, you can discover what is working, what you need to work harder on, and what you need to stop spending time and money on.
Remember
A marketing calendar is an essential tool for planning and implementing marketing strategies, scheduling marketing events and tracking costs and progress.
Have you created your marketing calendar? Share one of your strategies with us.
What is a marketing calendar?
A marketing calendar is typically a 12 month description of what you plan to do, from a marketing perspective. It is the creation of a system and process you can monitor your marketing activities by, on a weekly, monthly and yearly basis.
A marketing calendar assists in launching your marketing vehicles (tools) that can drive you to your goal in a structured and thought-out manner. It helps you effectively coordinate all your marketing efforts, assists in establishing a budget, crystallizes your focus, provides consistency, and allows you to see the value in your marketing program. It is a vital tool in your marketing arsenal.
Why create a marketing calendar?
One of the main reasons for creating a marketing calendar is to monitor results, preventing marketing lapses that cause the “feast and famine” effect many businesses experience. The calendar helps track regularly actionable occurring activities, such as writing and submitting articles to online directories, creating blog posts, participating in social networking activities, posting videos, etc.
It is an important tool that lets you know exactly when you need to:
begin doing a specific marketing tactic
see each step you need to take to implement a specific strategy
identify gaps in your marketing schedule throughout the year
Part 2 of Have You Created Your Marketing Calendar will identify types of activities to include in your marketing calendar, steps to follow and a call to action.
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