Ever wondered
how to wow your customers or the customers of a friend in business
or a business acquaintance? One of the most under utilised, yet,
extremely effective methods is the "Host Beneficiary" or host ben
for short.
The first
thing our coaching clients tell us when we mention host bens is
"host what?" Not surprisingly, I get very exited in introducing
this strategy as it definitely teaches my coaching client something
new and exiting that promises some special results.
The way it
works is quite clever. The main purpose of the strategy is to introduce
your business to the database of another business. Now, for all
you hoarders of databases, don't despair, nobody gets to use your
database in a malicious way, and in fact, it doesn't even have to
be used directly by the business suggesting the host ben. The entire
control can and in most cases does, unless time is an issue, remain
with the owner of the database.
The specifics
of the effective functioning of the strategy is to first of all
offer something of value to the business through which you want
to run this promotion. In fact, the way it really looks is that
in the eyes of the host ben's customer, it's the host ben that looks
like the very appreciative business which is either offering something
for free or seriously discounted to its customers. And wait for
it, it doesn't cost the host ben a cent. Why would that be a good
idea from our point of view? Simply, you get to be exposed to the
database of another business and effectively can significantly improve
the size of yours if the people respond on to this offer.
To make this
strategy extremely effective, you must be able to sell the benefits
of it to the host ben business and prove what a cheap and effective
method this can be for both of your businesses. Furthermore, you
can assist by drafting the letter that can be used in the mail out
which would be produced with the host ben's letterhead. Action International
coaches assist their clients in the preparation of both letters,
one to the host ben and the other one to be used in the send out
to their customers. The results can be staggering.
What is more
fascinating is that you can reverse the favour and have what is
called a reverse host ben whereby you make the offer of the other
business' products or services to your customers. This is great
where the other business still needs some convincing.
The most
important thing to remember is that you must target the host bens
whose target market (ie. customer profile) matches yours, otherwise,
you are unlikely to get repeat business from those taking up the
offer. Remember, selling to people once is a promotion, selling
to them repeatedly means that they are your customers.
Most of all,
have FUN with it and it will reap you the rewards you deserve because
you tried something new.
For
more information call ACTION International on 1800 670 335
