Business Development – Show Value First [VIDEO]
Want to know more about business development?
Watch this 1 min video. Tooliers’s Founder and CEO, Ozana Giusca, shares a trick to increase sales. She recorded this video to help small business owners grow their businesses.
….or read the script below.
“My colleagues are visiting me here in London. They just got back from a free tour in the Old Town. They had a good time, and learned a lot about London and Britain.
I ask: so why does this person provide FREE tours. What’s the catch?
They answer: well, it is not really free. When we met her, she told us such a tour costs cca GBP 20. But she doesn’t ask us to pay anything unless we like it.
She made it special for us, so in the end we gave her GBP 20 each. It was worth it.
Now I am thinking what can we learn from this? She SHOWED VALUE to the customer first, and asked for money later. Had she advertised the tour for GBP 20 initially, my colleagues would have not gone. But she gave the value first, and then asked for money. I believe this is the new way of selling, and this is where the economy is going towards.
I challenge you to think what YOU can offer to your customers for free, to show value, and determine them to purchase from you!”
Your take-away from this story:
– Instead of asking for a certain price, sometimes it is better to be subtler, and just set the expectations. The guide from my story did that mentioning at the very beginning of the city-tour that, similar services in London cost £20 softly implying that if you like the tour you should pay at least this much. Think about how you could set the expectations and, equally important, what would be the best time in your interaction with your prospects to do it.
– Showing value first can be about the price but also about other aspects of your business. If you send through a monthly newsletter for example, you can apply the „value first” principle by teaching your customers something valuable about your industry or category of service BEFORE trying to sell or promote your service. Do that, for example, including 3 educational marketing articles in your monthly issue and just 1 article with a direct promotional call to action.
– Apply this 3 to 1 ratio to any actions that can be thought of in terms of giving something to your prospects and customers versus asking something from them. Being a good service provider is similar in a way to being a good parent. I was not entirely surprised to read in a parenting article that the rule of thumb when it comes to providing disciple to your kids is to compliment them when they show good behaviors three times more often than you criticize them for misbehaving.
Learn more about business development here!
Showing value first may convince even the most reluctant customers. So give it a try!