Clever Business Strategy By Collaborating
"The key to all of life is understanding how to add value to others" - Jay Abraham
"Become a match-maker or a connector" - This is how Jay Abraham begins his event.
"I was once challenged to teach an audience of young entrepreneurs a strategy that could earn them a million dollars without investing any capital and not having a product to sell. Sounds like a daunting task but one of the attendees followed the plan and achieved what the others perceived to be impossible."
Jay Abraham - http://www.Abraham.com
There has to be some research by yourself into knowing what businesses are offering today, at what price points and most importantly, what is the customer's expectation?
Is it wise to know that a customer is willing to pay extra just to receive the personal attention and their items bought are superbly gift wrapped, thus making this person feel more special?
Is it wise to know that a customer is willing to pay extra if there is an additional battery and hardy case when purchasing a battery-operated power tool?
Sometimes, if there are gaps in your customer's expectations, it can lead to stress and worry, meaning they love to look but ultimately do not buy right away as the perceived value is not there.
To know that a purchase that has everything needed to actively enjoy what was bought, takes away any doubts and concerns, then can elevate the way your customer's perceived ease of doing business with you and hopefully leaves a cheerful review and tells others of their satisfaction.
Now, I am not talking about a quick purchase of low-end items like picking up something at a grocery store.
I am talking about the desired purchase here.
These purchases help make a person feel good about themselves and their transaction, are the items we need to explore further.
We are looking at:
A purchase that is saved for.
A purchase that improves the way a buyer is feeling.
A purchase that is looked up online.
Once established what gap you could play a role in delivering, next is deciding on the businesses that could help to solve that gap and not pose a threat to your business's survival.
We want to choose businesses that are not in direct competition, that are aligned with adding some value to the customer and has the market that you are targeting (i.e.beer sales collaborating with a sporting group, dog trainer collaborating with a vet practice, branding expert collaborating with hairdressers and makeup artists, workshop speaker collaborating with water distributor, photographer, food van...). Go with enhancing a purchaser's feeling when buying this product.
How awesome would it be to see a cookbook on sale but then it comes with 6 free masterchef video's of recipes actually within the book. (Publisher/Author & Talent Agency)
What about with every dog obedience 6-week class, a free dental check and nail clipping by the local vet clinic. (Dog Trainer & Local Vets)
How cool would it be to see an event ticket and then see that it comes with seats close to the front, a signed autographed book and a free picture with the speaker - hell YES! (Speaker & Event Sponsor)
I would even get excited to see a battery-powered whipper-snipper with it's own tool bag, and few other head attachments (hedger and pruning saw) and spare battery with charger thrown in...I'm seeing value here! (Manufacturer & Manufacturer)
And it is also about the follow-through game.
Yes, the well-known industry standard is said that 3-5% of leads will buy as they are ready now. The next 10-15% will talk to others to help decide, by following them up helps convert 40-60% to purchase.
The quality of leads that you now can communicate with over and over and over for the life of a valid contact.
And the activity created sets a buzz in the air that will attract others to see what is happening.
Remembering, the name of the game is all about enticing new potential leads.
Let them get familiar with what your business is about.
Let them trial something, feel important and want to get excited about your offer.
I have added the short video of this clever strategy of collaboration that anyone could do to grow their businesses. It is well worth the watch! Jay Abraham's clever strategy.
Your clients like to be appreciated and be treated as though they are important to you.
Be open to interacting personally with your clients.
Collaborate with businesses on a win:win:win basis that helps drive more business to yours.
Would love to hear your comments or stories about your own perspectives of collaborating with other businesses? Add a comment below.
Meg Hogan x
Meg Hogan is an Amazon #1 Best Selling author in Australia and US for 'Get Rich Be The Voice' , blogger and a Business Coach helping owners maximise their business potential to be in the best possible position to reap more revenue and retain more personal wealth. With her 100% money-back guarantee of satisfaction, she gives certainty to her clients that their best interests are at heart. "My door is open or anyone who may wish to discuss their business challenges in hopes of finding some practical solutions. Book a free call to chat on what I can offer you, and walk away with at least 3 things you can do now to improve your situation." - Meg Hogan
This is your personal invitation to join an interactive group of business owners who engage in the conversation of business. From strategies, lessons, triumphs and breakthroughs - we learn more to be on top the game. And there is even a #promo day where you can highlight what you do.
Hogan Arboit Pty Ltd., Bowen, Whitsundays QLD 4805, Australia