This Video Should be REQUIRED Viewing For Business Owners

this should be required viewing for business owners I'm going to explain a growth concept that every business needs and four tactics to get it come on follow me every business begins with effort and money from the founder or investors that begin the business from there you begin to get customers right so you advertise you sell and people come in the door and they buy your stuff now once customers come in they get some sort of result now after they get the result you then have some sort of reviews or Word of Mouth that that those

results will generate and then that can then in turn get you more customers and so this initial effort of money goes into the system that gets you customers those customers get results those results Drive reviews in Word of Mouth which then get you more customers the problem is most businesses don't have a good process here or here and and so all they have to do their wheels look like this effort and money customers result more effort in money customers result and they end up dumping a lot of effort out this way and so this creates

a linear system where all you do is you have to put more in and you get more out this growth concept is to create a self-reinforcing system where every action or component builds momentum and drives the next creating sustainable growth over time without the continuous input of more effort and more money on the side of the founders Andor investors so tactic number one after you've delivered service for whatever it is so whether you're a plumber and you go to a house or you're a waitress and you just served a customer after you've delivered the value

that you deliver with your core product or service you then offer a free gift now that gift is going to be relative to the amount of money that someone spent if someone spends 20 bucks maybe you just give them a bunch of mints if someone spent maybe $100 maybe you give them a $5 dessert if someone spends $1,000 maybe you give them a $50 gift like this lovely money blanket which is definitely not $50 but but the point is that you want to give them a surprise gift number one now once we give that gift

we want to pair because we're going to we basically if we've done a good job we will have banked a little bit of reciprocity and so then at that point and this is the key part the person who gives the gift is not the person who necessarily asks for the review so then either the manager of the restaurant the shift manager somebody who is is representing that person then says hey by the way if you leave a a review we give this person $50 so instead of incentivizing the customer we're actually just saying this person

who did you good and gave you this gift we're going to pay them if you leave a review and so this allows the customer to say you know what I kind of want to pay back that server I want to pay back that that plumber I want to pay back that person who helped me out and gave me the surprise gift by leaving a review and the further way the person who makes the ask is from the business owner the more compelling I believe it is provided is legal within your area obviously laws apply for

advertising I'll tell you a story when L and I were out in a different area traveling for some speaking thing she had to go get her hair done or something and so she quickly was looking on Yelp to try and find a good hair person and when she was there she looked at the reviews unsurprisingly and so there was one that had a five star but had like 20 reviews and another had like a 4.6 stars but had a th000 reviews which one do you think she went to the 4.6 stars with 1,000 reviews and

so the question is that how much was each of those incremental reviews worth if the person who has the most reviews ends up getting 90% of the search volume well a hell of a lot and so should we be willing to pay for reviews not directly but indirectly and the answer is yes this completely works with physical products obviously you could just include inside of the box some sort of you know QR code or link saying hey leave a review and give the gift in exchange or you can give it upfront I wish they would

do some research on this um I've tried both and to be honest with you they both work so Step One is surprise gift step two is third party ask the amount that you're willing to pay for the gift and a bonus that that you pay your team should be proportional what a review is worth to you and so if I have a new business and I have almost no reviews each additional review is worth significantly more than once I have 10,000 reviews right but I should still have that review system in place to grease the

groove and basically continue the the the growth Loop along its path so if you happen to live under a rock and not believe that reviews are a very valuable thing in business the highest percentage of sales across any Market come from word of mouth it's from people telling other people about stuff and people seeing other people use products and being like hey what is that or who do you use for right when you bought a house you probably didn't respond to an ad you probably did ask your friends for what realtor they used in that

area or ask your neighbors right and the higher the stakes of the purchase the more referrals are important the lower the ticket the less it can be dependent but the conversion on the first sale will still be dependent on the proof that you demonstrate and so I like to incorporate proof in all aspects of my business and here's an image of a Lobby where we put proof floor to ceiling of people's festar reviews because the advanced tactic here is that once you do start getting the these reviews coming in what do you think you should

do display them everywhere you possibly can and if you have an in-person business you have a double effect compared to everybody else because you can just literally have someone walk into your lobby of all five star reviews and it just anchors what type of business you are which is that you you overd deliver to customers and you do a good job and so if I were a waitress I might say hey by the way uh here's some mints if it's really cheap the type of food that I serve but more realistically I'd probably be willing

to pay whatever the cost of a slice of chocolate cake is or whatever the dessert is and say hey it's on me you guys were awesome thank you so much and then when my manager comes through and says by the way Jessica or i' would say by the way our staff gets a $10 bonus if anyone leaves a five stareview if you mention their name um it would mean a lot to us and it would obviously mean a lot to Jessica so you know thanks so much and so if Jessica does it and then asks

for the review it would still probably work if they like Jessica but it's so much cleaner to have the manager come afterwards and then say hey if you leave a review Jessica gets 10 bucks my team asked me like well how like that's going to take time for the manager and I was like okay well think about the hypothetical extreme here so let's say that your restaurant turns 10 tables an hour okay then for a manager to go and deliver that line with take maybe 5 minutes to hit all of those 10 tables and that's

like if that if you've ever had a manager come over it's usually like 20 seconds it's not a very long time but imagine the effect of that which is that that restaurant every day gets 10 five-star reviews because that means that 10% let's say they turn you know they're open for 10 hours they turn 10 tables an hour it's 100 tables that they turned it's like okay one out of those 10 leaves the review 10 festar reviews a day at the end of the year you've got almost 4,000 reviews like worth it and if the

team knows that they're going to be measured on reviews and you can obviously track what percentage of them get five star reviews you have another really high quality metric for customer satisfaction is what percentage of tables that this person served actually did the review what percentage of homes that this particular Home Services guy does leaves a festar review so it just gives you a second metric to look at customer satisfaction in the realest way possible that generates revenue and if you do all of a sudden find one waitress or one guy who's going out in

the field and he's getting way more reviews than anyone else just ask what they're doing differently and then teach everybody else and then step three is make it easy and so if I'm the manager I'm going to come by with a QR code on my on a little little A-frame thing one of these little ittybitty guys and I'll leave it on the table right next to the check like I want to make it easy for them to take the next step that also means that over time if I boost the hell out of my Yelp

then I'm like okay now I'm going to boost my Google review so I can shift my QR code now I'm going to boost my my Facebook and meta reviews right like each one of these I can shift over time and it might just be you know and then eventually it's just like hey just follow us on Instagram or it could be hey give us your your your your phone number and we'll give you this thing right and then they're on our our text list and if you like that first tactic I talk about it at

length inside of my customer referral chapter inside of the leads book and so inside of here I'll I'll give you the referral growth equation so you know exactly how much you can spend on referrals and how to make them viral um and the tactics that actually create the ways to get customers to do this more often and bring in higher quality people and so the seven tactics are inside of this book you can uh you can download they're absolutely free this book is free if you want a digital format uh on audio and uh the

Link's in the description so the second tactic to reinforce that review flywheel that then grows the business and gets more customers is merch now hold on what do you mean by that so I realized that my first gym I was there all the time and you know we got a decent amount of Fest star reviews and when I opened my second location it was like starting from scratch again I no reviews no one knew me in the area and I was like man I got to jump start this thing and so I had all these

t-shirts that I had bought and I probably had overstocked the amount of t-shirts that I was going to sell in the lobby but I noticed that the shirts didn't sell that much I mean like they hung up and I'd move a couple every week but it wasn't a huge amount of volume and so I was like man these shirts would be so much more valuable to me if two things happened one is if people actually wore them two is if they turned into something more valuable than just wearing them which is well what if I

could accomplish both at the same time by just giving them away in exchange for three reviews and so I made this post inside of the group that I had for all my gym members and I said hey I'm opening up my next location if you guys have loved the service go get a workout at the new location and if you do I'll give you a free t-shirt and so the t-shirts cost me five bucks but then what they had to do to get the T-shirt was they had to leave a review on Yelp on Google

and on Facebook and checkin and so I had them do four things in exchange for the shirt but guess what happened overnight I had like 155 star reviews for my new location and I had all these people that were rocking my merch so when they're out grocery shopping when they see their friends they're like oh what's that and then I get some Word of Mouth from that and so is a two bird one stone one organic Word of Mouth other digital Word of Mouth that I was able to do by simply saying hey if you

want some some merch here or you want one of these jackets that has this nice logo on it just leave a review most people especially if you have a recurring Revenue base will be more than happy to leave a review for you so obvious brick and mortar you can just give merch straight up right so like if you had a gym um or anything that people are in a recurring membership with you could do that now what if you're a uh you know like the plumbing business well the first tactic would probably work better for

you so if you're B2B merch might not be as meaningful to your customers as if you're B Toc because if they are frequenting your business on a regular basis they probably have some brand Affinity they're okay wearing it and they would do stuff in exchange to get that kind of merch now the other two tactics I'm going to share with you will help you if you are in one of those B2B uh situations and so here's how the tactic works there's my world's best T-shirt there we go you pay five bucks for the t-shirt and

then that t-shirt then gets you a Yelp review it gets you a Google review it gets you a meta review which is wherever you're running your ads from so this stuff is so important cuz what we're thinking about here is how do people actually find your business well they're going to search on yel depending on the industry you're in you're going to be running Google PPC ads or they're going to be searching on Google and they're going to find it through SEO you're running ads on meta and so we're covering each of the the platforms

the surface area that someone is coming in so even though we're asking for three for every new customer they're only going to see maybe one of these things and then finally we get the actual Word of Mouth from actually wearing the thing in public and this is just organic and so in each of these situations we're actually covering a new type of advertising only with one $5 give if you're less comfortable with giving out the like if you're like my Brand's not that strong right now then you can have just an inspirational quote or saying

on the shirt so when I did my shirts I think I had like a beast mode engaged shirt my customers were wearing that rather than uh my logo but my logo was on the back or the side you know so you can put it on the sleeve or you can put it on the back if you want to have like some cool factor that goes with it so what's the third tactic boom you give them a big pile of money no not exactly but instead we actually just offer a discount and so the amount that

you can offer the discounts can be proportional whatever your gross profit is and the average ticket and so I was talking to a restaurant owner not that long ago he needed to get new reviews for a new location and so the strategy we came up with was really simple I said would you give somebody a dollar off their meal and he was a very budget Diner in terms of the the the type of establishment he was he was running very high volume and I said would you give a dollar off so it's about 5% of

the average ticket of somebody who's walking in the door and he said yeah I would pay a dollar I was like right because that means you'd pay $5,000 for 5,000 review VI like that's a good deal and so what we decided to do is that when people came with the check they would put the hey for f if you want to save a dollar on each person each person can leave a review and we put the little QR code on top and then the waitress when she delivered the check also basically Drew attention to it

and said hey if you do that I'll go bring your check back with the discount included and so if you think about this as as a meta concept the first two examples I gave you were things where you add something good you add some sort of incentive the first one is you add something but not in exchange for anything based on reciprocity and then the Goodwill goes to the person who did the service the second one is where you give a direct exchange with the customer like do this for me and I'll give I'll do

this for you very quck Pro Crow very straightforward this one with the discount is about removing bad stuff right and so bad stuff being the price of whatever they had to pay right and so the most effective way to do this in my opinion is as the check or as the invoice is being delivered and this is where people mess this up is that they will say hey if you leave forw will give you 20% off your next one you will be able to give significantly less off if you just say it's available right now

and so latency is one of the strongest multipliers of a persuasive tool risk and delay actually work very similarly in people's minds so the further out it is the less powerful the thing that you give you say hey I'll give you $100 in a year if you leave a review most people would rather have $2 off today so number one is at point of sale so it's when you present the price so once you present the price and you get acceptance on the price then you offer the discount discount presented you then get them to

say yes they want to do it if they do it so this is now you verify that they actually did the review so you have them show you that they did the review then you recalculate the overall price and then you hand them the final check and then both parties are better off so number four keys well the fourth tactic is a bonus tactic for you but it's any kind of unlockable now this works particularly well with any kind of uh B2B service business anything that's National or digital uh rather than in person so the

first three that I gave are very IRL driven so discounts you can use whenever um but like giving a real inperson gift or giving merch sometimes can be a little bit uh harder online versus in person so if you have online what you can do is you can unlock either either media which is hey we're going to give you some sort of uh training that's associated with this or VIP trial so what does that mean and this is why this is uh extra extra nasty in a good way which is if you have multiple levels

of service your cost to deliver that service is typically not overwhelmingly high right when people do these add-ons so like if you're an SEO Agency for example maybe you'll you'll rank another domain or you'll start you you you'll spin up extra backlinks or whatever whatever your core Services you say hey by the way if you do this I will unlock a trial of a higher level of service for 20 you know a 30-day period something like that the benefit of this is that not only do you get the review you also give the customer a

trial a taste of the higher-end version of the service that you deliver and so this becomes extra powerful because it starts with Goodwill and you may just end up converting these customers into more valuable customers over time so you get you literally get paid to get reviews now if you have a media thing that you want to unlock called it a training called it an event called it something like that you can do that as well in the IRL version of this you can have call it an annual event that people are invited to and

their ticket to get in is that they left to review and you can do this both virtually or in real life and so anything that you can give away that is remote would obviously work and I also like having Trials of services or pieces of a higher level to encourage people to one taste it and then maybe just maybe give us money for it later and so here's the deal if you don't do this what's going to happen is that you're going to have a linear business you have to keep flowing effort and money in

and then money comes out and you have to keep doing this over and over again when you stop doing this you stop getting this but when you set up a system like this where you have a loop where customers get results results turn into reviews and then those reviews get you more customers the business over time becomes self- sustaining and so every business has to have this in place place if they hope to separate themselves from the investors or Founders who breathed life in it to begin with you want the engine to run without you

you are lighter fluid not the log because if you're the log you'll eventually get burned out as you get tons and tons of reviews in your business you get more Customs from it every once in a while you're going to get a negative review and this video shows you how to handle them