“Why update my website when I have plenty of business and it’s all from word of mouth?”
Obviously, you are doing a lot of things right – now. But what we’re talking about is building long term sustainable value in to your company!
Let’s look at that idea:
1. “Long Term” It’s admirable that you have built a successful company by providing such good service – and great products – and your business is driven by word of mouth.
However, that’s not a good long-term plan – it ignores the reality of how people will be looking for companies like yours in the future – which in today’s terms is in two minutes. That’s right TWO minutes!
Okay maybe a bit more time – but you know the trend is heading towards everyone going online to find what they want…starting with a search – and usually from their phone.
If you wait until you agree – it’ll be too late.
So – to really be a “forward thinking” company planning for the “long-term” you should start with the idea of knowing your customers are online – searching for your services and products and often on their phone.Are you there too?
2. “Sustainable”:Why are you working so hard if the business won’t outlast you – and be passed on to the next generation – your family – or have enough value to sell to a new owner?
I know that’s harsh – and I’m not gonna start planning your retirement – but wouldn’t you be heartbroken to learn that while you have enough money to retire the business doesn’t have enough value to pass on to the next generation – or the business can’t be sold – or is sold for a fraction of what “it once” was worth?
Let’s build something sustainable for generations to come.
3. “Value”: It’s all for nothing if your company has no value. Oh yeah – it has value for you – today…does it have value for you at “the end”?
At the end of your ownership – or the end of you working there while your family member (daughter/son!) take over? Or value to a new owner who pays a fair price for your company?
Do you want to pass along or sell a company that has no value?
In order to build “long term sustainable value” you must have a strategy to retain existing customers and attract and secure new customers.
It’s not impossible for you – it’s not expensive for you either – it just requires you to take action.
We know your competitors are “all over” your customer base – bombarding them with messages to attract them – did you ever see those ads that follow you around the web? YUP – your competitors are using those to get YOUR customers.
And you know your prospective customers start with search – and look for a company to provide the very service or product you offer! Are you there?
Let’s be honest – every major brand – and service has great word of mouth – and until that one in a million “angry” customers goes online and crushes you with a bad review – things always look rosy. Like my old boss used to say to me: “Everyone thinks you’re a genius when business is good – but you really show your mettle when business is not good.”
So, what does every major brand and service do – they build up a strong sustainable marketing plan – using every digital technology and platform we know of – and they push their name – their benefits – their new products and everything they stand for over and over and over – to every existing and possible customer. Forever!
Think of any brand – company or service, and you can immediately give me three qualities each of them have – that the other does not:Walmart v.Target, Nike v. Adidas,Tesla v. GM,Apple v. Microsoft…how about the Boston Celtics v.The San Francisco Warriors, or the Oakland Raiders v.The New England Patriots…they are all brands that stand for something that we know (!) – because they spit out these brand qualities over and over and over and over. Forever!
And you should as well – and by doing so – you lock down your existing customer base – and recruit new customers – it allows you to expand your product or service offerings – and charge more for them.
It adds value to your company – it adds “long term sustainable value”.