Are You Guilty of Falling in Love With Your Product Or Service Instead of Your Prospect? | by Nick James, The Internet Business Coach

It’s a big sin, isn’t it? Talking all about you, your business, your achievements, the certificates, the awards, the new promotion, the state of the art building, the fancy logo, the new product, the super service, etc.

Instead of talking kindly, interestingly, sincerely about the money providers of your business: your prospects and customers!

I mean, it’s really easy to get carried away with it all. For one thing, we have created the business, so shouldn’t we expect others to hear what we have to say about it all? Aren’t we doing them – our customers and prospects – a huge favour by providing them with products and services?

Well, no, not really. Especially when you consider that there’s a thousand and one ‘others’ who are providing the same products and services as we are. And look, there’s nothing stopping those customers waltzing into the arms of your competitors, is there? Especially if all you do is to strut around telling how great you really are.

Once the focus and attention shifts from you, me, the owner, and instead, the attention shifts to the customer, the prospect and their needs, their wants, their requirements, then the whole dynamic of the business changes. Imagine it: instead of a prospect being bombarded about the latest whiz bang gizmo, the ‘in your face’ company mantra and mission statement, they’re welcomed by a friendly message that starts to make them feel at ease, that gets them to lower their guard…

How do you think they’re now feeling?

“Wow! Someone who’s got my best interest at heart!”

“Isn’t that a refreshing difference? A business that’s not bragging about themselves, but, has a sincere interest in me!”

Think about it in your everyday communication. How would you honestly feel if all you heard was the other person just yap, yap, and yap without you ever getting a word in edgewise. Where all the focus is on them, them, them. Wouldn’t leave a pleasant fragrance to the relationship, right?

Well, in a business type scenario, you may never get to interact with the potential customer if, from the outset, they detect that there’s too much puffery and self-importance. And what could all that mean to the amount of profit you possibly could’ve had? How much are you really throwing away because of it?

For arguments sake, let’s say that you’re losing a mere 10% or say, 50 potential paying customers a year because of the way your company positions itself first, rather than focusing on giving solutions and fixing problems. How much would that be costing you in monetary terms? Well, it all depends on the products and services you’re promoting and selling.

Take my business for example. I have a number of resources, tools, memberships, products that are of a single sale one off cost, as well as those that are on an on-going recurring type costs. Let’s take my Joint Venture product. It retails for £67. By applying the above, I lose out on 50 sales a year, around £3400 in sales. But, in reality, I’d be throwing a lot more than that. You see, those fifty would be perfect candidates for anything else that I may want to sell them.

Yes, there’s a pile of residual and referral value that I’m flushing out the door. And what about the money lost on something that’s a recurring product or service?

If I use the membership to my subscription site as an example, a customer is worth approximately £200 a year. So, 50 multiplied by 200 is: £10,000!

Though, as it’s my intention is to keep my members for life by providing them with the most up to date, practical, killer marketing and lifestyle information and resources they’ll not get anywhere else; but the whole ‘lifetime value of a customer’ has just sunk like the titanic!

What about you and your business? How much of a loss would it all mean to you personally?

All it takes for prospects to give you a try, to hear you out and test your products, your offerings, your services, is for you to put your prospects first.

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ABOUT THE AUTHOR

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Internet entrepreneur Nick James has been at the forefront of Internet marketing and online product development since 2001. Nick is a full time product developer and has created several software programs, information products and membership websites during his entrepreneurial career.

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