Today I listened in on the Webiner presented by Richelle Shaw and La Shanda Henry. Ms. Shaw states that she was the only African -American who owned a utility company that she took to $23 million dollars in revenue.
Todays 's reach out, was of course marketing her services as a Marketing Coach. She brought about some valid points, for example: Black business owners fail to "build" a relationship with the client prior to a hard sell. What these businesswomen tagged as" booty call." sales.
I think they got it right. You should know your customer or as they say, "please em' before you profit" she maintains that getting to know your customer is a strategy to set up trust.
Distrust being a particular problem in the Black community or as she stated " the white is right syndrome" when a customer will go buy from a "white business the same product you are selling for more money.
Ms.Shaw also stressed the importance of having a system even more so than being organized. Knowing when the bills are due, so your phone is not turned off..when a customer calls. Having a structure in place, knowing your customer's buying habits, and when they last made a purchase from you. Laying a template for each product.
Retention, how will you maintain the loyalty of an old client? Reactivation and Referral. The formula seems to be if you keep seeking new clients without servicing your existing ones, you may ran out of cash very quickly.
For a lot of members of this site, the advice for authors was quite valuable. For one in order to find a new audience the author has to provide a new book (product) or do a workbook with an add on. Also doing joint ventures with other authors not in competition with your market. The breakdown was genius, why try and sell 1 millon books when you can sell, 5 books to 200,000 people and reach your goal.
Her five big caveats:
1. No business system or structure in place
2. Skeptical Black Buyer and Trust issues.
3. Ignoring customers who don't buy your product immediately.
4. White is right syndrome.
5. Failure to create a marketing plan.
There are plenty of strategies and plans she discusses that you can access on her site
www.richelleshaw.com .
Sometimes, site members who are business people, forget that as authors if you are selling your book it is a business. Being involved here socially as well can be a double edged sword. If you run into a difference of opinon on an unrelated topic with one of your customers, it may cost you a sale. Something to think about.
I certainly agree with her that a "thank you" is must!
Posted By: Marta Fernandez
Wednesday, December 17th 2008 at 2:52AM
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