Marketing Beyond The First Sale!
We continue the conversation around marketing with storytelling in Part Three of our conversation with Dan Grech. Here, we cover how marketing to your existing customers is key.
Dan is the Founder and CEO of BizHack Academy, which teaches the secrets of digital marketing to all types of organizations… from small business startups to nonprofits to Fortune 500 companies. Dan knows all about telling a story that gets results, thanks to his impressive background as a marketer and journalist.
The most profitable form of marketing is to get people to buy again and to get them to refer their friends.
Welcome to Amplify
Welcome to Amplify with White Knight Productions. I’m your new host, Madi Tinney. At White Knight, we’re all about amplifying voices through storytelling. And in this series, we’re connecting with industry professionals who know how to boost messages far and wide. Today, we’re thrilled to speak with Dan Grech.
Dan, the marketplace is really crowded. Do you have any tips for how to cut through the noise and differentiate yourself?
Yeah. This is a challenge for every small business because you’re limited in time, you’re limited in money, and, of course, you’re limited in expertise. How do you make yourself stand out? And one of the answers you’ll hear is a gimmick or a contest or a giveaway, and those can work. But we have a different answer at BizHack, and it’s about telling your business story.
Talking about why you do what you do and what change you want to affect in the world — if you can do that effectively, YOU, by definition, are going to differentiate yourself from everyone else in your category because everybody’s motivation is different and everyone else’s core purpose is distinct.
If it’s true to you and true to yourself, it differentiates you immediately from your competition, and it allows you to then emphasize those aspects of your offering that are most unique and most aligned with your core values.
So start with your business story. Start with your core purpose and your why; and if you can answer that, you’re going to begin to differentiate your product or service. Is that enough? Is that sufficient? No! But it is necessary. It’s necessary for you to be able to say… “We believe in this. You should trust me for these reasons. I’m not gonna quit you. I’m not gonna to give up. I’m doing this for the right reasons. I have integrity. I can be trusted.”
Once you’ve established that, then you have to talk about what are your three uniques? What is the value that you’re providing? How are you helping them solve their problem? What is your track record? Who else has worked with you before? What are outside experts or outside accolades that figure in to your being a successful company? Is your pricing competitive? Can I afford you? All of that is incredibly important; but if it isn’t built on the foundation of your business story, it’s going to be much harder to sell yourself.
If one of your clients comes to you and says, “Okay. People are buying my things; what now? You know, how do I keep them coming back for more?” What do you do at this point?
Well, first of all, I would applaud that business owner for even thinking to ask that question because what I have found is that, for most businesses, their entire focus is on the first sale. What I try to tell business owners is the most profitable form of marketing is to get people to buy again and to get them to refer their friends. This, in the marketing terms, is called retention of existing customers and upselling and referrals.
So you really need to be thinking, in terms of your marketing, about how to get people delighted with your product and advocating about your product. You look at how can you inject a little bit of brand loyalty, a little bit of love, a little bit of continuity, a little bit of, you know — how can you up that experience?
So, as a marketer, as a business owner, thinking about how to engender even greater loyalty in your existing customers and to upsell them in additional products and services and then also to get them to tell their friends, has to be a core part of your marketing. And video is one of the best ways to do this.
The best companies advertise and create videos that are specifically designed for their existing customers, which seems kind of crazy, but you want to invest your marketing resources, your marketing effort in your existing customer base to keep them loyal, to keep you top of mind, to get them to renew, and to get them to refer. So, you really do need to think very clearly, not just about new customer acquisition, which is the most expensive kind of marketing, but existing customer retention and how to build their loyalty so they’re going to be willing to refer, which is much more cost effective.
To learn more about Dan and his business, visit bizhack.com. And to hear more insider scoops on how to amplify your story, be sure to follow White Knight Productions on your preferred social media for updates on future episodes.
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Catch up on previous episodes of our series.