I see a lot of businesses that are 10, 15, 20 years old that are plump, happy and complacent. They’ve become market dominant and lazy in acquiring new customers to the point that they’re actually at tremendous risk. Watch today’s video to see the true story of a local business who realized that losing a million dollar customer was just the tip of the iceberg for much bigger issues, and how to prevent this from happening to your business.
Why The Million Dollar Customer Left
I’ve had the pleasure of working with a mostly successful local business that’s been around for about 20 years and does 18 million in revenue. Like many businesses in that age range, after a certain point – they stopped growing and got comfortable… until problems starting showing up.
During the Marketing Strategy Meeting, we uncovered the real problem they were having is that they weren’t getting new customers and that they were in fact losing big ones recently to the tune of $1 million.
I asked why one of the million dollar customers had left and it was because their website experience was so awful that it inconvenienced them, and they were embarrassed to refer their own customers to it, but this was just the start of the issues…
As we looked into it, it turned out that they were the lowest rated business in their category in their city. New competitors had popped up in the last eight years that they didn’t even know about that were taking their spot on the first page of Google with better reviews.
Running A Business Is Hard. But You Can’t Lose Focus Of Customers.
I see this happen all the time. Business is hard. Managing employees, marketing, product development, growing is all kind of exhausting and at some point you want to just take it easy. But in the new economy, a new local business can quickly catch up and surpass you.
Your Customers Expect A Great Digital Experience
Customers are increasingly expecting a great digital experience as part of their buying process.
Reviews are becoming one of the main influences for online buying decisions. A recent study shows that people trust online reviews as much as they trust word of mouth referrals.
“Our Reputation And Integrity Sets Us Apart….” So They Say….
Many of these businesses will say, “We’ve been in business since before you were born. Our Reputation is the best…”. But they don’t realize their online reviews don’t tell that story, and that new customers would never even consider them because of it.
Is your online presence a representation of your CURRENT business or the PAST business — and is it pushing your brand forward for future growth?
Do your online reviews, photographs, and website tell the story you want in a way that attracts new customers?
Create A Plan Of Action For 2018. Schedule A Marketing Strategy Meeting With Us!
Is your business plump, happy, and ripe for a rude awakening? Contact us for a Marketing Strategy Meeting to find out how we can help keep you moving in the right direction. We’ll meet on the phone, video conference, or in-person if you’re local to help you figure out where to focus your marketing to get the best results.
Register Now For The 2018 Digital Trends Workshop!
Plus, join us at our 2018 Digital Trends presentation to see where you need to focus this year. We’ll be doing hands-on digital branding exercises where you’ll walk away with immediate, actionable items to kick 2018 off in the right direction. Register now at ramblinjackson.com/digitaltrends/
Ramblin Jackson Job Openings in Boulder!
Know anyone who wants to join our growing team? Please spread the word about our marketing job openings.