I'm a huge Pearl Jam fan! I follow them around the country. I've seen them all over the world. Because of their dedication to the music, their dedication to us fans, and their intelligent career that spans over 20 years, I thought they would make an excellent business lesson.
For several years, those who follow Pearl Jam have been recording their shows because the experience at their concerts is so amazing. However, in 2001, Pearl Jam released seventy two of their albums! They made them available on their website and also in stores. Why is this important? They made a profit and gave listeners what they wanted at the same time.
Here is the business lesson for us: Pearl Jam did not spend countless hours creating new music and new content for their fans. They simply decided to repackage what they already had produced. In your business, you would do well to do the same thing, because it is generally much cheaper to sell more to your existing client base than to go out and create more fans.
But you can really take the profits to the next level, however, when you are able to make your fans so happy, that they go out and spread the word about you to their friends. This is one of the best ways to grow a business. Getting referrals can really increase your bottom line!
You see, your following can really help you to grow your business. Do not worry about how many fans you have right now. You do not really have to have a huge number of fans. What you need are a few people who really, really love what you are offering to them.
Do you have the email addresses of the 20% of your customer base that loves what you do? If not, start getting them. If you do, what could you do or make for these customers that would be super special? Think through this strategy to grow your business now!
For several years, those who follow Pearl Jam have been recording their shows because the experience at their concerts is so amazing. However, in 2001, Pearl Jam released seventy two of their albums! They made them available on their website and also in stores. Why is this important? They made a profit and gave listeners what they wanted at the same time.
Here is the business lesson for us: Pearl Jam did not spend countless hours creating new music and new content for their fans. They simply decided to repackage what they already had produced. In your business, you would do well to do the same thing, because it is generally much cheaper to sell more to your existing client base than to go out and create more fans.
But you can really take the profits to the next level, however, when you are able to make your fans so happy, that they go out and spread the word about you to their friends. This is one of the best ways to grow a business. Getting referrals can really increase your bottom line!
You see, your following can really help you to grow your business. Do not worry about how many fans you have right now. You do not really have to have a huge number of fans. What you need are a few people who really, really love what you are offering to them.
Do you have the email addresses of the 20% of your customer base that loves what you do? If not, start getting them. If you do, what could you do or make for these customers that would be super special? Think through this strategy to grow your business now!
About the Author:
About the author: Vito La Fata is a business entrepreneur and coach who can show you how to be a personal trainer. Find fitness business coaching and get more information by visiting his website.
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