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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 • to focus solely on reducing costs new customers - life blood

• 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

= ÂŁ4480

credibility: is your reputation • marketing made simple

visibility: is you getting noticed

what do people say about you behind your back?

• 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 it’s about

networking is what it’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

“relationships & understanding are built faster when you have the discipline to meet weekly�

not for everyone ambition: “wanting more� better quality referrals

• 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

“So what makes us think that half hearted marketing, random networking, without a strategy, will get the results we seek�

“why would you want to pass this opportunity to your competitor�

• contact details Paul Clegg Referral Strategy Coach BNI Executive Director Ecademy Blackstar

Business Challenges in a Recession  

word of mouth referral strategies for difficult times

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