There are two parts of the lead generation cycle: cultivation and stewardship. We need to cultivate or leads and steward them into a sale.
Business professionals continue to discover that they can generate more value for their business by moving up the value chain – and offering additional services that give them the edge over the competition.
There are 2 pieces to this puzzle.
- Cultivation – What value converts prospects to customers?
- Stewardship – What value-added can you offer that keeps current customers coming back for more?
Many businesses find that adding certain services generates profit. Accounting firms offer investment services to their tax customers; Insurance agents offer financial planning; Home remodelers offer interior design services; Real Estate companies offer professional staging; Water Treatment dealers offer Air Purification services.
Each of these services provides value to the consumer. Each of these services can become a new profit center.
I’m not just talking about a value offer on a direct marketing mailer – we are moving far beyond the offer into creating a profit center that people will pay for because they perceive the value of what you are offering.
For Good Stewardship – Customer Service is King
According to Small Business Trends, another great method of growing your business quickly is by focusing on providing superior customer service. When you exceed customers’ expectations, they are likely to tell their friends, family and followers about your business. Further, when you go out of your way, such as offering discounts if a customer has a poor experience or following up to ensure a client was satisfied with your product or service, you establish a reputation for having great customer service.
If you want your customers to come back time and again, your customer service is vital. And the trust and relationship you have built with them. Cultivation and Stewardship – these are the Real Profit Builders
If your client trusts you, they will be willing to listen to something new you are offering. If your new service has value, they will pay you for it, rather than going elsewhere.
When we talk about enhancing the lifetime value of a customer, that’s the real profit builder!
