Proven Strategies for Growing Your Business in a Recession
‘credit crunch’ pressure on cash flow
• the challenges we face focus on cost v value pressure to reduce* prices * pressure on your profits
MiStake â€˘ to focus solely on reducing costs new customers - life blood
â€˘ long term value of a customer
a new customer is worth ave. business value x
repeat purchase per annum x
ave. number of years we keep a customer eg. ÂŁ700 x 2 per annum x 3.2 years
credibility: is your reputation â€˘ marketing made simple
visibility: is you getting noticed
what do people say about you behind your back?
â€˘ which is more credible?
you telling people how good you are .... ... or other people telling people they know how good you are
no! referrals is what itâ€™s about
networking is what itâ€™s about
• BNI worlds’ largest referral organisation over 5,010 BNI chapters 5,500,000 referrals, £1.25 billion
UK and Ireland over 564 BNI Chapters 538,406 referrals worth £185m
we are not a networking org. we don’t sell to each other
• BNI is a referral organisation work together for each other don’t see your competition
weekly marketing meetings concise, structured agenda energy - focus - strategy
â€œrelationships & understanding are built faster when you have the discipline to meet weeklyâ€?
not for everyone ambition: â€œwanting moreâ€? better quality referrals
â€˘ ambitious businesses only more time with interested buyers no cold calls, doors opened faster more profitable business
• startling statistics • 48% of business people never follow up with a prospect • 25% of business people make a 2nd contact and STOP • 12% of business people only make 3 contacts and STOP • Only 10% of business people make 3 or more contacts with a prospect Or How About This… • 2% of sales are made on the 1st contact • 3% of sales are made on the 2nd contact • 5% of sales are made on the 3rd contact • 10% of sales are made on the 4th contact • 80% of sales are made on the 5th – 12th contact
â€œSo what makes us think that half hearted marketing, random networking, without a strategy, will get the results we seekâ€?
â€œwhy would you want to pass this opportunity to your competitorâ€?
â€˘ contact details Paul Clegg Referral Strategy Coach BNI Executive Director Ecademy Blackstar firstname.lastname@example.org www.bnireferrals.com www.ilovereferrals.co.uk www.referralsforbusiness.com