Building a business on referrals is not a strategy. Now, there was a time when becoming successful in business was pretty simple. You’d have a couple of great products with a great service and soon you’d be renowned as the go-to expert in your area.
However, simply relying on referrals for 100% of your business no longer works in this highly competitive world we are in. I’ve had many business owners come to me for help because their referrals have dried up and they’re left with no leads. They haven’t learnt how to do things differently and their previous strategy – or lack thereof – has now become dangerous.
So if this is you and word-of-mouth is no longer building your business, what should you do instead? Today I’m taking you through the three essential pillars I believe are required to create a successful business strategy that moves your business forward.
The Three Critical Pillars:
1. Attention
To succeed in today’s highly competitive marketplace, you must differentiate yourself and gain attention. By honing your positioning and becoming recognised for your expertise, you can stand out from the crowd. It’s about showing up, being seen and heard and making your ideal clients aware of the value you provide. Building attention allows you to stop competing solely on price and leverage your experience effectively.
2. Attraction
While attention is crucial, it’s not enough on its own. You must also attract the right clients into your world. Instead of relying solely on referrals, it’s essential to build your database and establish an email list – a hugely underrated but valuable asset. By identifying your ideal clients and attracting them to your list, you can create a targeted approach to marketing. Understanding their needs and demonstrating how you can help solve their problems will significantly increase your chances of conversion.
3. Activation
The final pillar involves tightening up your offer and streamlining your products or services. It’s essential to be easy to buy and activate the sale, ensuring a smooth conversion process. By focusing on your ideal client and delivering tailored solutions, you can make it easier for them to invest in your services. Avoid offering a broad range of products, as this can lead to choice fatigue and confusion. Instead, narrow down your offerings and clearly communicate the value you provide to your target audience.
A well thought out strategy around attention, attraction and activation is a business strategy that will allow you to not only scale, but manage the challenging times that inevitably come with it. So put these three pillars into action now and unlock your next opportunity for growth!
Janine x