Reaching Customers Through Channel Management
Small businesses and startups benefit from word-of-mouth marketing and referrals, both of which lead to the acceleration of sales with roots in Greater Des Moines (DSM). AgriSync Founder Casey Niemann digs deeper into channel management in the video.
The number one driving factor of growth is customer retention. Retaining the customer who is already signed up becomes top-of-mind once a business has figured out their sales funnel. Learn more about the sales and marketing funnel by Mollie Bodensteiner of FunnelWise.
Facebook has the network effect, which causes its users to keep coming back to see what other users are doing and how they are using the service. Ask yourself, how can we continue communication with our customers and keep them engaged to increase the likelihood that they will keep coming back and checking in.
Business owners have a vision of what the service is. But so does your first customer. Casey explains how it is hard to reacquire a customer who starts out with the wrong expectations about your product or service. Find people who fundamentally believe in your mission. Picking the wrong first customers can be detrimental, while people who will walk through challenges and trust in the progress of your product will help you continue to be innovative. These first customers should be your best ambassadors.
Leverage Word of Mouth
As a young company, you may not be discovered any other way than word-of-mouth. Influencers will help your business succeed. Think about the way you buy. Most people listen to endorsements from friends and family and use reviews to determine whether to buy something. Referrals also have long-term customer value. The beauty of referral and affiliate marketing is a small business or startup only pays for things that offer a return on investment.
What is a Referral?
Most referral marketing happens through a spontaneous form of communication between customers. Customers and influencers are the ones to promote and drive sales through word of mouth.
What is Affiliate Marketing?
Affiliate marketing is when a business rewards affiliates within the same channel with a commission for marketing its product or service. This could be through bloggers and websites.
As a startup, quick adoption allows marketing and innovation in new ways. Be open to new tools and ask questions about making changes that will lead to a return on investment.