Newletter – #003 – What Does The Customer Want?
Know What Your Customer Wants
Online Entrepreneurs are in the business of solving problems for clients. It may seem obvious, but do you truly know what your customer wants?
Often customers don’t know what they really want so it requires some detective work on your part.
Start at the Beginning
When I started Karen Newton International, customers told me that they wanted to learn how to make money so they could retire around 5 years in the future.
I listened to what I thought the customer wanted and created a course based on generating multiple income streams so they would have the income they needed to retire.
The customers still weren’t happy and felt the course didn’t suit their needs.
I started surveying customers during the training sessions and found they didn’t want to learn all the ins and outs of building online businesses; investing in shares; building a property portfolio and hedging with gold and silver.
They didn’t want to create multiple income streams.
Instead, they had this image that I would be doing everything for them each month and they just deposited their money.
So, I started looking at how to help customers get what they wanted that would still fit in with the business model I wanted for my business.
If at First You Don’t Succeed.
This became a trial and error as I tried to build my business model and help meet client needs.
My first attempt was to offer franchises for coaching. A ready-made business model that allowed customers who wanted to start their own business.
While several people signed up the business model didn’t work as it didn’t suit me or the franchisees.
Back to the drawing board.
Affiliate Marketing
This became the first business model that worked. Clients liked the idea of an online business where all they did was advertise the product to their customers and start earning commissions.
I create a marketing pack for each courses ensuring the right information goes out to in the right format. Affiliates use the marketing material for sales copy, banners etc.
Affiliates have helped my customers grow online businesses and in turn helps me grow my business.
But affiliate marketing is only for business. What could we offer for share investing, property investing and gold & silver.
Joint Ventures
Joint ventures were the next thing to be introduced and have proven the most successful.
The first joint venture was investing in the US share market through creating clubs and consortiums.
Today, there are over 200 clients investing in the US share market and new clients joining every day.
Next, we introduced property joint ventures where clients set up their own companies with between 4 – 6 directors with the intention of building an international holiday let property portfolio.
Again, this is very popular and we have several companies operating and growing property portfolios.
The Customer Doesn’t Always Know What they Want
Detective work is often needed to identify what the client really wants. Often, they think they want something but they don’t always know what they want.
Entrepreneurs are in the business of solving problems but they need to be solving the right problem for their customers.
This Week’s Action Steps
When was the last time you surveyed your customers to help you understand what they really want.
Create a survey and ask your clients to complete it.
Check results.
Are you supplying your customers with what they want?
Are there opportunities to add additional products and services to your business?
Connect With Me
X – @newydd105 (formerly Twitter)
Instagram – @karennewtoninternational
Facebook – https://www.facebook.com/karennewtoninternational
Website – https://theonlineentrepreneur.co.uk
Additional Resources to Help Grow Your Business
Affiliate Marketing Book – Available on all Amazon Book Sites – Check the site best for your location.
Note: Clients in Northern Ireland may have problems buying the book from Amazon UK due to Brexit and may need to use one of the EU sites. Often there is an “Out of Stock” message. This means you will need a different Amazon site or the ebook version.
Quick Affiliate Products has more content about writing blogs, sales and marketing
https://courses.karennewtoninternational.com/products/courses/view/1136385
Chat again soon
Karen
Karen Newton International
Wealth Income Lifestyle
3x #1 International Best-Selling Author
