Correct word choices are paramount to the clearest and most effective communication. In selecting the most appropriate words, understanding their true meanings are essential to saying exactly what needs to be said, when it needs to be said. There are a few resources that can be trusted to help make plain the meaning of what One intends to say. My go-to sources are Webster’s 1828 Dictionary (online edition), Dictionary.com and Merriam-Webster’s (online edition) dictionaries. These sites help to clarify the message I desire to communicate with my truest intentions. To clearly convey my idea concerning Honor Marketing, let’s begin with some definitions to clarify the concept of honor(ing) and marketing.
Honor is defined as “the esteem due or paid to worth; high estimation (Webster’s Dictionary 1828, 2017); and, further clarified by Dictionary.com, by adding “high respect, as for worth, merit, or rank: to be held in honor.” Marketing is “the total of activities involved in the transfer of goods and/or services from a producer or seller to consumers and buyers” (Dictionary.com, 2017).
Now that our foundation of understanding for our word choices of this concept is clear, let’s discuss the matter in detail; and, further illustrate an example of Honor Marketing in action. It happens over, and over, and over again, in every industry, from beauty-related to even vehicle repairs and everything in-between and beyond. WHY would companies be more "inviting" to strangers, than to family & friends? For so many specials, deals, features and offers, the caveat 99.9% of the time is that the highlighted offer is good for "new" customers/clients ONLY! WHAT??!!! While, clearly, it is completely understandable that businesses want and need to grow, and gaining new customers and clients is necessary. However, why does growth need to be excluding? Excluding and failing to HONOR and show appreciation to/for those "friends & family" who have already trusted your business, for ones who might or might not work out, is simply unwise.
Who knows and trusts you already? Even more importantly, who do you know and already have an established relationship with? Current and past customers are the BEST sources of additional client attraction. Consider this Honor Marketing concept. Instead of paying $100 to potentially attract a new customer, invest in a current customer an immediate $25 incentive (in the form of gift certificate or your "company currency" or Scrip) AND give them the exact same "incentive" to offer to a friend? The majority of the time, people spend more than the gift certificate award, AND it gets them into your store, so they can be exposed to ALL of your Amazing offerings. "Honoring" current, and even past clients, further endears them to your business; and, by giving them a gift, to gift (to another), immediately cements goodwill & likability from the "honored guest(s)." Not only would you avoid a potentially risky advertising expense, but potential for gain is huge in financial, customer service and goodwill awards, for investing a little honor and appreciation in those who have already proven their interest in your product and/or service offerings. Simply put, instead of paying out $100, invest $50 and potentially gain greater rewards, not just once, but again and again.
This concept is an example of the types of Big Ideas my company can offer in our service to you as your Profits Generation Professional Partner (PGPP). To learn more secure your copy of “Increase Your Profits with these 5 BIG IDEAS” now.