Most businesses are looking at how to make money during this period and we at branders consulting propose the following as a strategy to embark on.
The boomerang strategy
Like the effect of a boomerang, the result of the strategy is to leverage on your existing customers to get new ones.
So we understand that retaining an existing customer cost less than it requires to get new ones right? so what do you do with that knowledge knowing spending is low and you are looking for the most cost effective action plan to take.
We went ahead to create the Boomerang Strategy to solve this problem by creating an effective referral system that gives your customers strong emotional and financial reasons to remember you both as a value solution to their problem/need and as a potential temporal source of income during this period.
But first, what is a Referral system?
A referral system is a business model that incentify existing customers every time they refer your business to another fellow/person (friend, family relative anyone) or encourages other people to buy from you as a valuable solution to their problem, which in reverse is also what they got from you
The psychological impact of a referral system is that it also gives your customers strong emotional and financial reasons to remember you both as a value solution to their problem, but also as a potential source of income during this period. You will see that a referral system is popular aong the cosmetic industry
we take a deep look into your business and product offering to pick out your value proposition (what your business does).
Create a strong “why” that explains why the package was made
We create a referral package around your value proposition (what your business does) that offers an attractive incentive package and rewards your customers per referral
We also create a follow up plan that stays on your clients for a minimum of a month via
- phone calls and
- online targeted ads, to get the desired results.
To create yours or start with yours, book a 30 minutes free consultation or use the contact form to give us as much information we need to devise your own Boomerang strategy