Don,amp,#39,Grow,Bankrupt,When marketing Don't Grow Bankrupt When Your Clients Grow Up &#
Awhile ago, I got an email from one of the "gurus" I follow and it shocked me. The gist of it was this person wanted to trade services for a household item.To say it floored me would be an understatement.What was worse was a few days later t Automation technologies represent a fundamental aspect of any modern industry. The major types of industrial automation solutions, such as DCS, PLC, SCADA, and MES, are used on a large-scale in process and discrete industries.DCS technologie
Say you've established trust with your prospects, andthey've initially bought and used your products.Later they turned into satisfied customers, and now you'redeveloping wonderfully long-term business relationshipswith them.But a few months/years later they turn to you and suddenlysay,"I'm starting to need new features on this product." OR"I need something done, and although I know you don'tusually do it I think it's within your expertise, so I washoping you could be the one to do it for me."What if what they're asking for is really something you'renot ready to offer yet? And what if they reach the pointwhere they badly need it NOW, and are forced to make achoice between staying with you and going somewhere else?Do you just tell them "I'm sorry, but we can't offer thatright now." and sadly let them go?Or do you realize that it's much easier to keep thesevaluable clients loyal than to spend more money attractingnew ones, and find ways to give them what they need?There are no hard & fast rules for answering this kind ofquestion, but it's a situation most business owners willeventually have to face.It's called the CUSTOMER GROWTH PHENOMENON -- and if youprepare yourself early on in order to meet its challenges,it could mean the growth & success of your business as well.Evolving Customers = Evolving Needs -----------------------------------General Motors understands that their customers inevitablychange, and so created their different car models to adjustto those changes.While their clients are young and have generally moderateincomes, GM offers them the sturdy & reliable Chevrolet.But as these consumers grow older and get better jobs, GMcapitalizes on the trust they already established byoffering them the performance-driven (and more expensive)Pontiac. A few more years later GM assumes they haveclimbed the corporate ladder and feel deserving of awell-earned break so they use their same establishedrelationship to sell them on the luxuries of thehigh-priced Cadillac.In the same spirit of customer retention, soft drinkmanufacturers have come up with low-calorie diet versionsof their products, while breakfast cereal manufacturerscreated the executive "power breakfast bars."The fact is, these businesses owners know that marketingisn't just about getting new clients to notice them and buytheir products ONCE.They have seen the big picture, and have taken the necessarysteps to get existing clients to KEEP ON BUYING theirproducts -- and even encourage inactive customers to comeout of the woodwork buy from them AGAIN.THEY have adapted to the customer growth phenomenon -- andthere's no reason why you shouldn't do the same, too.Rise To The Challenge---------------------The simplest way to meet changing client needs usuallyinvolves just 3 adjustments to your product/service:1) Add new features.Listen for what their new needs are, then study yourproduct closely. Most of the time, you'll find that youonly really need one or two new features to improve what'salready there, and make it enough to satisfy most clients.2) Create an enhanced design.Sometimes it's not so much how a product works, but how aproduct LOOKS that makes clients decide they want something"new."Whether you're talking about computer casing, or foodpackaging, or how cute the icons are in your program'staskbar, remember that: - different age groups have different design preferences - changing trends & lifestyles require properly-designed products - and people will always have a basic need to express their individuality & stand out -- and they often do so through the products they use most often.3) Increase the range of selection & availability.Add new flavors. Create different-sized packages. Makeyour products available as downloads AND as deliverable CDs.Or enlist your business partners' help so they'll make yourservices available on their sites, too.Although the decision to change or grow seems intimidatingat first, breaking them down into smaller steps ofadjustment makes them more manageable -- and moreaffordable -- to execute and control.Decide to GROW--------------The moment clients increase or change their expectationsof your product, it often means 2 good things: 1) They (or their business) have recently grown because of you, and 2) Their increased expectations often signal an increase in purchasing power, making them more financially able to do MORE business with you.So don't be afraid to change, and dare to go where noentrepreneur in your position has ever gone before.Whether you end up creating a new product or just retaininga valuable client, it can only mean BETTER things for you &your business, too. © Tatiana Velitchkov
Don,amp,#39,Grow,Bankrupt,When