joint venture marketing
When you formed your JV business, where did you acquire your customers? Did you combine mailing and contact lists to offer existing customers great new and improved benefits with your JV business? Did you advertise to a specific demographic and target market?
Wherever your JV customers came from, it is important to realize that repeat business is essential for most businesses. In addition, it is important to remember that customers, new or returning, have a choice and can always go to your competitors if they feel you have not earned their business.
What can you and your JV partner do to keep the customers returning time after time? Here are four great ideas about how you can treat your customers to assure their loyalty.
1. Give the Extra Value
No matter what you sell in your JV business, always go the extra mile for your customers. As an example, say five other businesses selling hair products just like your JV business. What attracts customers to your place of business? It could be that you offer a free trial, you give complementary samples along with a free wash, or maybe it’s because you simply sell the products cheaper by running a low overhead.
Regardless of the reason, people will choose your business over another because of the value they receive. Be sure you give them the extra value so they keep coming back.
2. Respond Promptly
Do you and your JV partner operate a service business? How quickly do you respond to customer calls or inquiries? Do you answer calls right away, or let it go straight to message?
Responding right away to your customers gives them the impression that their problems or needs are your top priority. Even if you can’t answer a call right away, returning a message within an hour or two is essential for letting the customer know you are on top of his or her problem and will be there to serve his or her needs.
3. Go for Never-Ending Improvement
Don’t just sell the same product or service again and again, over and over. To earn loyal customers, you must not only meet their needs, but also constantly improve so you always provide that “wow” factor and stay ahead of the competition.
Try to improve the quality of your manufactured goods. Even the packaging of your JV product is a facet that can be improved. Or in a service industry, strive to include more value for your services, such as more streamlined packages, or new methods to include with your service.
4. Always Demonstrate Respect
One of the best ways to keep customers coming back is to simply respect them. Remember when it was customary to refer to customers by last name, such as Mr. or Ms. So-and-So? It is sad to think the days of respect are gone, but you can bring them back in your JV business.
Always speak to customers with a smile. Attempt to resolve conflicts with sincerity and a respect for the customer’s needs. You don’t have to say the cliche, “have a nice day”, but substitute that farewell with something like, “thank you for your business”, “we’ll see you next time”, or perhaps, “it’s been a pleasure”.
Loyal customers are the backbone of your JV business. Give them the reasons they need to make the choice of loyalty. Your JV business will be glad you went the extra miles.
christian fea is CEO of Synertegic, Inc. A joint venture marketing firm. He exemplifies how to profit from Joint Venture relationships by creating profit centers with minimal risk and maximum profitability.
To discover more joint venture marketing Strategies join his free joint venture marketing Wealth Report.