Have you heard of Pearl Jam? They are an amazing group and very committed to their music and their fans. They been around for decades, and their success contains valuable business lessons for us. Let's focus on some of these lessons in this article.
For several years, those who follow Pearl Jam have been recording their shows because the experience at their concerts is so amazing. However, in 2001, Pearl Jam released seventy two of their albums! They made them available on their website and also in stores. Why is this important? They made a profit and gave listeners what they wanted at the same time.
Here is the business lesson for us: Pearl Jam did not spend countless hours creating new music and new content for their fans. They simply decided to repackage what they already had produced. In your business, you would do well to do the same thing, because it is generally much cheaper to sell more to your existing client base than to go out and create more fans.
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 several years, those who follow Pearl Jam have been recording their shows because the experience at their concerts is so amazing. However, in 2001, Pearl Jam released seventy two of their albums! They made them available on their website and also in stores. Why is this important? They made a profit and gave listeners what they wanted at the same time.
Here is the business lesson for us: Pearl Jam did not spend countless hours creating new music and new content for their fans. They simply decided to repackage what they already had produced. In your business, you would do well to do the same thing, because it is generally much cheaper to sell more to your existing client base than to go out and create more fans.
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 business coach who can teach you how to be a personal trainer. Find fitness business coaching and get more information by visiting his website.
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