In this series of posts I am focusing on 9 challenges that every business faces.
I will post one of these challenges every week. These are challenges that I’ve seen as I’ve begun consulting various businesses over this last year.
The more I’ve thought about it the more I’ve come to believe that these are the same challenges that any/every business faces – no matter what product or service they sell.
I also believe that successful businesses in any arena are successful BECAUSE they have overcome each of these 9 challenges.
Each post in this series will give a brief description of one of the 9 challenges that you face as a business owner.
Let’s look at the fifth challenge every successful business overcomes.
5. They need to remember you exist when they need what you offer.
There is a major problem that most business owners don’t consider…
Many prospects won’t buy immediately from you. Why not? There are many reasons. Here are just a few:
- They might want to look around.
- They might want to check you out on http://www.Yelp.com.
- They might not have the money or a strong enough need/desire to buy.
- They’ve never heard of you before and want to get “used to” the idea of buying from you.
- They just might be in a hurry and not have the time to purchase today!
The problem this causes is that they have to remember that you/your business exists when they finally need/want what you offer!
You might be thinking about your business every day, but your prospects aren’t!
And I hate to break it to you, but this isn’t just true of prospects. It’s true of your customers!
They can purchase from you, but when they have the same need/desire again they might not think of your business first – or at all! The old saying “out of sight, out of mind” is true about your customers too.
I’ve seen many local restaurants and businesses close down recently. Some I have shopped at. Some I haven’t. But you know what my first reaction was when I saw the “Out of Business” sign?
My reaction was, “Oh yeah! I forgot they were over there.” Do you want a more concrete example? Here’s one…
There was a local steakhouse that closed recently. When I drove by and saw the building was vacant I realized that I NEVER thought about eating there when I was thinking of a place to go out to.
I totally forgot they were there. And I like steak! 🙂
I bet the restaurant owners never realized this. They just thought people were choosing not to eat at their restaurant. In reality there were probably many people that didn’t even have them on their radar screen!
You have to come up with ways to help your prospects and your customers remember your business. You have to come up with ways to get them in a HABIT of purchasing from you.
One of the simplest, and commonly overlooked, ways of doing this is by getting their contact information and contacting them regularly.
Many business owners don’t have any prospect or customer lists.
But do you know what is even crazier and also common?
There’s another segment of business owners have these lists and never use them!?!
Once you create these lists you need to USE them!
You need to use these lists to give value, content, build relationships, and give incentives for them to come purchase from you – for the first time, for the second… of thirtieth time! 🙂
Successful businesses that overcome this 5th challenge are very effective at making themselves memorable.
They know how to build favorable opinions and attitudes about their business. They know how to build relationships of value. They know how to gain “mind share” in the prospects’ and customers’ minds.
If you want your business to have a chance of succeeding whether the recession is over or not, then you have to do the same thing.
You have to come up with ways to help your prospects and customers remember you when they’re ready to buy!
Next, I’ll post the 6th Challenge that every successful business overcomes. Stay tuned. I’m trying to post them every week, but sometimes.. it’s more like every other. 🙂
In the meantime, if you have thoughts about this fifth challenge you want to share, then post them in the comments.
- What do you think?
- Do you agree?
- What has your experience been with this challenge?
Post your comments, thoughts and even questions – if you have any!
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I finally decided to create separate twitter accounts. Tweeting about all of different arenas I’m involved in from one account was just too confusing.
You can now follow me @rampbusinesses!
I’m a business strategist, consultant, content creation specialist, and speaker. I’ve been studying effective marketing and business methods (both online and offline) since 1999.
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Scott,
Definitely a big business challenge if there ever was one. As a coach specializing in working with small business owners I see this a LOT. One business owner who owns a spa is moaning that business is way down. Yes, it is since massages are a luxury right now.
I presented her with an opportunity to advertise daily and inexpensively to her target audience less than 1/4 mile from her shop. If she would present them with a special offer she’d likely get women to at least take the 5-minute stroll over to her place to have a look, which is much more action than she has right now.
Her response? “I need to do a little more business to afford this.” Hate to say it, but she’s going to end up like your steakhouse if she keeps thinking this way. Thanks for posting what business owners need to read.
Hey Michael,
Thanks for the comment. Great example. I hope she realizes her error and takes your wise advice – before it’s too late!