Let’s face it, while we do want to have a business that creates impact and provides value, we do run a business to earn money. And while that is the main goal with the best intentions, many entrepreneurs still struggle on getting that cash flow.
Kim Speed is the Amazon bestselling author of the book, Branding on a Shoestring: How to Re-Create Your Small Business Identity and Increase Sales Results in 83 Days or Less. She is a brand expert who believes that the number one reason customers buy from you is TRUST. It has nothing to do with price and often, it is not even about how well the product or service performs!
In an episode of The $100 MBA Show where Kim was a guest teacher, she dug on building brand credibility through proof. For example, if you would like to go to a restaurant, you would check on possible reviews online or recommendations from your friends! When you try out a new product or service, you would consider your community to validate this new thing. With the internet age, it is now even easier to access such information.
She suggests that as business owners, you must be proactive in molding customer feedback. It is important that apart from delivering your promise and establishing great relationships, always follow-up on your customers and ask them to provide feedback on their experience. This can be done by sending surveys or book a time with the clients and do a post-project review together. You may even offer incentives for those who are going to fill out the survey or fulfill the review. Proof of your efficiency and quality can drive more sales. Without realizing it, your happy customers have become your raving fans and salespeople.
More tips are discussed by Kim in the full episode and even more brand advice is available in Kim’s book Branding on a Shoestring: How to Re-Create Your Small Business Identity and Increase Sales Results in 83 Days or Less.
This session was packed with useful info, Kim!
The $100 MBA Show is a new kind of podcast where that brings real business lessons from real entrepreneurs in the real world. It is the first of its kind with this unique format of delivering straight to the point and actionable input. It was awarded as an iTunes Best of 2014 podcast. For details on becoming a guest, or to access more similar content, visit https://100mba.net/show/.