Sales and marketing experts often talk about “unique selling propositions,” or “USP,” which Entrepreneur defines as the “factor or consideration presented by a seller as the reason that one product or service is different from and better than that of the competition.”
1. To scale a business you must be able to make a connection with your customers. Your company must have an authentic purpose. As an entrepreneur, must know and understand the why in your business. A company can sustain growth and continue upward once this basic question is answered. If you want to create a scalable business, you have to understand how crucial it is to build brand equity and emotional connections with customers. It’s those attachments that link customers to your products and will keep them returning to you. Building a brand is about developing and sustaining those relationships over time.
2. Successful retention starts with the initial contact a business makes with a customer, and continues throughout the lifetime of the relationship. Your customer retention is everything. The cost to acquire a new customer is costly. Many has even estimated that for certain industries, a 10% increase in customer retention is roughly equivalent to a 30% increase in a company’s value.
3. Creating a unique product and brand isn’t enough. It takes repeatable sales processes to create a scalable business. It’s one thing to sign up a few customers; it’s another thing to design and implement sales processes that can be successfully deployed again and again at ever greater scale. For this reason, having systems in place to accomplish this is very important. One of the strategies that 8-Figure Business Coach, Inc. strives to do is just that, implement systems & processes in place that have a proven track record for our clients.