Building a long-lasting, effective business takes willpower, patience and persistence. Business consultant Corey Shader says it’s not for the faint of heart, yet there are many stories of success.
Now is a great time to start a business, but there are things that you can learn from other success stories to help you become successful, too. Below are four tips to help you grow a highly profitable business in the B2B technology sector.
1. Go Freemium
By offering customers a free trial of your product, you allow them to get a hands-on experience with the technology. This gives you time to draw them in and make them feel as if they can’t live without the service you’re providing. Then, after a certain amount of time, you can remove the free trial and force them to pay to continue to access the service.
Another option is to always offer certain features for free, but then charge for “premium” features — the true “freemium” model. Many B2B technology companies have found this to be an effective way to build trust and long-term clients.
2. Establish Your Expertise
People want to do business with people they trust, but how do you build this trust if you’re dealing with a complete stranger? One very effective way in B2B industries is to establish yourself as an expert in your field.
You can do this in a number of ways. Blogging about topics related to your business and that of your customers is a great place to start. This provides your customers with a lot of value before they’ve every purchased something from you. Similar marketing can be done through social media posts and “How To” videos.
When you are able to establish your expertise, your target customers are more likely to go to you over your competitors when they have a need that fits your offerings.
3. Publish Case Studies
Another type of content you can use to your advantage are case studies. These can help build trust in your business even more than just blogging and social media posts on their own.
These case studies will act as proof to your potential customers that your products and/or services deliver value to existing clients, and that it can do the same for them.
Don’t hesitate to ask some of your current customers to lend a quote or two to your case study to beef it up even more.
4. Create a Referral Program
Word of mouth is one of the most effective marketing tools a business can use, according to Corey Shader. That’s because people are more likely to do business with people who they know and trust. You can incentivize your current customers to bring you new customers by establishing a referral program.
When you incentivize people to take action, they are more likely to do so than if you don’t. You can offer rewards such as discounts, cash or free products to people who make successful referrals. The amount of money that you invest in this program are more than likely to pay you back many times over.
About Corey Shader
Corey Shader is a self-made entrepreneur, consultant, investor, real estate developer, and founder of several companies, notably Insurance Pipeline. Operating primarily out of Ft. Lauderdale, Corey’s endeavors span across the nation, consulting for start-ups, and sitting on the board of digital media and senior healthcare agencies. As a consultant, Corey helps young businesses develop sales funnels and maximize profitability. Shader takes pride in challenging others to push themselves to be their very best — he believes in constant self-improvement, inspiring others through sharing his own life experiences.
