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 many years, fans of this band have been recording their live shows. They have done this because Pearl Jam has such an ability to create such a unique experience at those shows. But finally, in the year 2001 they released 72 of their albums! These albums were made available not only in stores, but also on their website. The result? They gave people what they desired and also made money at the same time.
The strategy lesson for us is the fact that all they did was repackage the work that they had already done! They did not have to create new content. As a business owner, you can do the same with your content. It is almost always cheaper to sell to your existing fans rather than creating new ones.
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!
I was thinking about this as a way to demonstrate the power of your fans, no matter how small your list. Just goes to show that you don't need a lot of people to be successful; you just need the right people who need something you have. You simply have to get others to feel that your service is a good fit for what they want.
Make sure that you have the contact information of at least 20% of your most loyal fans. Find a way to get this information if you do not already have it. Then begin to strategize to come up with ways to give them more of what they really want.
For many years, fans of this band have been recording their live shows. They have done this because Pearl Jam has such an ability to create such a unique experience at those shows. But finally, in the year 2001 they released 72 of their albums! These albums were made available not only in stores, but also on their website. The result? They gave people what they desired and also made money at the same time.
The strategy lesson for us is the fact that all they did was repackage the work that they had already done! They did not have to create new content. As a business owner, you can do the same with your content. It is almost always cheaper to sell to your existing fans rather than creating new ones.
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!
I was thinking about this as a way to demonstrate the power of your fans, no matter how small your list. Just goes to show that you don't need a lot of people to be successful; you just need the right people who need something you have. You simply have to get others to feel that your service is a good fit for what they want.
Make sure that you have the contact information of at least 20% of your most loyal fans. Find a way to get this information if you do not already have it. Then begin to strategize to come up with ways to give them more of what they really want.
About the Author:
About the author: Vito La Fata is a business entrepreneur and coach who can teach you how to be a personal trainer. Find fitness business coaching and get more tips by visiting his website.
No comments:
Post a Comment