3 Step Growth Model

Presented by:

RuthAnn Carlton

Small Business Development Center

University of West Georgia

Your business is either growing or

it is shrinking.

How should we define GROWTH?

www.hypergrow.com

When is growth NOT desirable?

How do we measure

GROWTH?

3 Types of Customers Every Business Sells To

• Existing Customers• Previous Customers

• New Customers

What can we do to keep customers?

ExpectationsManagement

Competitive Edge

CustomerCommunications

The 3-Step Growth Model

Sharpen Your Competitive Edge

Why will customers

choose us over other options?

Compared to 5 years ago, is your

market more competitive or less?

3 TYPES OF COMPETITORS

3. Do Nothing Competition

1. Direct Competition

2. Indirect Competition

SWOT ANALYSIS

Strengths Weaknesses

Opportunities Threats

How to find your edge

For improved strength, your competitive edge must be...

* meaningful * motivates to action* sustainable * consistent* communicate * barrier to entry* unique * unmet needs* focused * marketable

RECAP:Competitive Edge Based

Growth Strategies

Understand the competition

Refine your competitive edge Do a SWOT analysis

Increase its strength

Connect Powerfully with Customers

How will we customers learn about us and be

convinced to purchase?

Building a Building a Bridge...Bridge...

www.guru-in-you.com

It is estimated that the average consumer is exposed to over 3000 advertising messages per day …….oooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo

What can you do to ensure that your message gets through the clutter?

Goals of Customer Goals of Customer Communications...Communications...

• Create Awareness• Communicate Benefits• Prompt Action• Manage Expectations• Generate Familiarity & Trust• Achieve Specific Objectives

3

Method for Customer Communications

* Message* Medium* Measurement

Message Tips

• Benefits vs. Features • Establish relevance quickly• Branding• Narrow the focus• Repeat key points• Create urgency• Provide a call to action• Have a personality, Herb!

COMMON MESSAGESWe solve a problem – this problem bothers youWe are better than the competition – you will be better off with usWe are a better value – don’t waste your money elsewhereWe have made an improvement – your life will be betterWe are trustworthy – you can be confident in usWe have a time-based special – you don’t want to miss outWe appreciate you / thank you – you can / will feel appreciatedWe want your referrals – you want to tell people about good thingsWe make your life easier – you want an easier lifeWe make you more money – you want more moneyWe make you more popular – you want to be more popularWe help you avoid pain – you have pain you wish to get rid ofWe are making it easy to trial – you have nothing to loseWe offer great guarantees / warranties – you wont be disappointedWe are your friends – you want to associate with usWe want to build a relationship with you – you want to know usWe are fun, unique and interesting – you will enjoy our interactionsWe give you peace of mind – you crave this

There are lots of ways to deliver a message…..

Maximizing daily communications

COMMUNICATION MEDIUMS

Personal Communications Personal Communications – Letter – Pounding the PavementWord of Mouth - Buzz Referrals / Centers of Influence Direct Selling Direct MailDirect Faxing TelemarketingAdvertising - Newspaper Advertising - MagazinesAdvertising - Radio Advertising - TelevisionPromotions / Specials Web SiteBanner Ads Search EnginesDirect Email – Opt In Direct Email – SpammingConventions / Tradeshows Billboards / Sporting EventsTransportation Signs Network MarketingPoint of Sale / Packaging GiveawaysCard Decks InfomercialsAudios, Videos, CDs Catalogs / BrochuresFax on Demand

CommunicationsConsiderations...

Reach

Frequency

Weight

Selecting the “Right” Medium

Cumulative effect of messages –

develop a frequency- based series

How do you create VALUE

with your communications?

Measurement

RECAP:Communications Based

Growth Strategies Develop strong messages

Select appropriate mediums

Develop a frequency-based sequenceCreate value with communications

ManageExpectations Brilliantly

What can we do to ensure

our customers’ expectations are fully met?

Keeping the

promise!

Exceeding Expectations Impacts ...

Reputation / Image

Word of Mouth Advertising

Customer Retention

Five components of expectations management

• Understand base expectations• Influence expectations• Product / service performance• The company experience• Post purchase reinforcement

The customer starts with a base expectation

Which is influenced by our communications(promises)

If we perform here, the customer will be very happy

If we perform here, the customer will be very unhappy

RECAP:Expectations Based Growth Strategies

• Get it - this is the biz!• Exceed expectations• Create an experience

• Continuous improvement