Listen to your peers you might just learn something
Let me take you back to an event I attended earlier this year. I was lucky enough to visit the Theo Paphitis event for Small Business Sunday winners trending on #SBS on Twitter.
Now if you aren’t familiar with the #SBS it was masterminded by Theo and was set up in October 2010 to help support small business owners. Each week, Theo rewards small businesses that tweet him @TheoPaphitis and describe their business in one tweet including the all-important hashtag #SBS, however only tweets made in the time slot between 5.00pm and 7.30pm each Sunday count. Then every Monday night at 8pm Theo reviews and chooses his favourite lucky six who then “get re-tweeted”. This provides a massive boost to the six chosen lucky businesses.
Every year #SBS holds a winner’s event, so I went along to see what it was all about. Whilst listening to a fireside chat with ao.com Founder John Roberts I found myself inspired by his thoughts on giving customers what they actually want. He used a gym membership as a perfect example as a waste of money and that they we’re not tailored towards the needs of the customer. Did you know that in 2017 it was reported that Brits wasted £558m on unused gym memberships? I thought to myself that is just a ridiculous figure and it led me to think about our Pink Link Ladies membership based groups.
I recognised that one of the biggest reasons that we lose our customers is that our members just get too busy with extra generated business to attend. As a direct result we lose members, but after speaking to those members, they stressed to me that what led to the success of their businesses in the first place was attending the networking events. However, they couldn’t see the value in a yearly membership as they weren’t able to attend every month, but they still wanted to attend ad-hoc. Our current membership options at the time just didn’t allow for this flexibility. After realising that we needed to adapt to the needs of our customer we introduced the Pay as You Go option. At Pink Link Ladies we now have a complete offering for every woman who wants to be involved whatever their circumstances.
As a direct result of listening to our Pink Link Ladies needs we’ve been able to welcome back a group of ladies to our local networks. As an added bonus, we have also attracted new customers from our competitors. This has really changed the dynamic of our networking groups. We’ve brought ladies back together who had lost touch with one another and we’ve also brought in new businesses that has provided new opportunities and discussions amongst our group members.
In the months since implementing the Pay as You Go option we have seen a significant increase approx. 25%.
This for me just shows how powerful it is to listen to your peers. Through their experiences we can implement change within our own businesses. If I had any advice to share from this, it would be to always listen to your customers. The more time you invest in listening to your customers the more feedback you will receive and this will help you make educated strategic decisions for your company.
By attending conferences and seminars, you have the opportunity to listen to your peers, which in-turn sparks creativity, passion and drive. In this instance I implemented a change which has improved my business and customer experience and ironically I have re-joined my local gym.