How To Get Referrals & Gain More Customers For Your Business | मुफ्त सेवाओं का गुप्त | Kapil Chandak

Unlock Your Business IQ

19 Apr 202405:31

Summary

TLDRThe video script narrates the story of an artist struggling to grow their business through art sales. Despite high-quality work and corporate demand, the artist faced challenges in converting referrals into sales. To overcome this, they launched free commercial art classes, attracting students who, after training, became a network of referrals. These students, excited about their new skills, promoted the artist's work, leading to a significant increase in high-value customers and a thriving business. The strategy highlights the importance of building a strong referral network, even if it means offering free services or classes to create long-term value.

Takeaways

😀 Selling art is not just challenging but also requires a creative business approach.
💡 The artist in the story was successful but faced issues with scaling the business due to a lack of sales conversions from referrals.
📈 The artist wanted to increase the pace of business growth but was limited by the speed at which referrals were coming in.
🤔 After much thought and marketing attempts, the artist realized the need to be more than just a creator but also a trendsetter in sales.
🎨 The artist decided to start teaching commercial art classes for free to expand their reach and influence.
👨‍🏫 By teaching students, the artist not only shared their expertise but also created a network of individuals who could potentially refer business.
📚 The students, excited about what they learned, began marketing themselves as artists capable of creating commercial art.
🔗 As these students gained recognition, they referred their teacher, increasing the artist's clientele and reputation.
💼 The artist's business grew significantly as a result of this strategy, attracting premium customers who valued art and understood its worth.
📈 The artist's referral network became extensive, leading to more direct and ready referrals, which were beneficial for business growth.
🌟 The key takeaway is the importance of building a strong referral network, even if it means giving away some value for free in the short term for long-term benefits.

Q & A

What is the main challenge the artist faced in his business?
-The main challenge the artist faced was the slow speed of getting referrals, which did not match his ambitions for business growth.
What did the artist initially do to try and increase his sales?
-The artist initially tried some marketing and experimented with new things to pitch to new customers, but these efforts did not translate into increased sales as he was not a good salesperson.
How did the artist's approach to solving his business problem differ from traditional sales methods?
-Instead of focusing solely on sales, the artist decided to teach commercial arts for free, which was a unique approach to building a network and indirectly boosting his business.
What was the outcome of the artist teaching commercial arts classes for free?
-The outcome was that the artist attracted many students who, after learning from him, started marketing themselves and referred high-value customers to him, thus expanding his referral network.
How did the artist's students contribute to his business growth?
-The students, after being trained by the artist, became excited about commercial arts and started marketing themselves. They brought in inquiries and referred high-value work to the artist, strengthening his business.
What strategy did the artist use to ensure a steady flow of referrals?
-The artist built a strong referral network by training his students well and ensuring they understood the value of commercial arts, which led them to refer more business to him.
How did the artist's business model evolve after implementing the new strategy?
-The artist's business model evolved from a traditional sales approach to an educational one, where he provided value upfront by teaching commercial arts, which in turn generated referrals and sales.
What is the significance of the artist's strategy in terms of long-term business growth?
-The strategy is significant as it focuses on building a long-term referral network that provides continuous business opportunities, rather than just short-term sales.
What lessons can other business owners learn from the artist's experience?
-Business owners can learn the importance of building a strong referral network and the potential benefits of providing value upfront, even if it means offering services for free initially.
How did the artist's approach to marketing differ from traditional marketing strategies?
-The artist's approach was more about creating value and trust through education rather than directly selling products or services through traditional marketing channels.
What role did the artist's students play in his marketing efforts?
-The students played a crucial role in his marketing efforts by becoming ambassadors of his work and spreading the word about his commercial arts expertise, leading to more inquiries and sales.

Outlines

00:00

🎨 Turning Marketing Challenges into Opportunities

The story begins with a business owner who finds it incredibly difficult to sell art. Despite creating sophisticated commercial art that is admired and purchased in corporate buildings, the owner struggles with generating sales at a pace that matches their ambitions. They rely heavily on referrals, which come in sporadically and limit their business growth. Despite trying new marketing tactics, the challenge remains that the owner is an artist first, not a trained salesperson. This mismatch between their artistic skill and sales ability creates a bottleneck in growing the business. After much thought, the owner devises a clever strategy: offering free commercial art classes. This attracts many students who, after training, begin to market themselves as commercial artists. When faced with more complex projects, these students refer their clients back to the original artist, significantly expanding the artist's referral network. This solution not only accelerates the growth of the business but also brings in premium clients who truly value the art.

05:03

💡 The Power of Building a Referral Network

The conclusion draws a key lesson from the artist’s experience: building a strong referral network is crucial for business growth. The video emphasizes that offering something valuable for free, such as classes or workshops, can be an effective way to create such a network. Over time, this strategy leads to high-quality referrals that are more likely to convert into sales. The artist's success demonstrates how providing value upfront can result in long-term business benefits. The video ends by encouraging viewers to subscribe for more insightful content.

Mindmap

Keywords

💡Art Selling

Art selling refers to the process of marketing and selling artistic creations. In the video, it is portrayed as a challenging task that requires a strategic approach. The artist in the script is trying to increase the speed of sales and is exploring different marketing techniques to achieve this, such as offering free classes to attract potential customers and build a network for referrals.

💡Commercial Art

Commercial art is artwork created for a specific commercial purpose, such as advertising or product design. The script mentions that the artist's work was displayed in corporate buildings and commercial spaces, indicating that the artist's creations were not just for aesthetic purposes but also had a functional role in the business environment.

💡Marketing

Marketing is the process of promoting and selling products or services. The video script discusses the artist's efforts to market their art to new customers, which includes explaining their work and convincing potential buyers of its value, highlighting the importance of marketing in the sales process.

💡Referrals

Referrals are recommendations from one person to another, often leading to new business opportunities. The script describes how the artist initially received referrals that led to sales conversions but was looking for ways to increase the speed at which these referrals came in.

💡Sales Process

The sales process is the series of steps involved in selling a product or service. The video talks about the artist's sales process being stuck in various places, indicating that there were obstacles or inefficiencies in the way the artist was selling their art.

💡Free Classes

Free classes are educational sessions offered without charge, often as a marketing strategy to attract potential customers. The artist in the script started offering free commercial art classes to students, which served as a way to build a network of referrals and increase the artist's visibility and sales.

💡Student Engagement

Student engagement refers to the level of interest and participation of students in learning activities. The script mentions that the students were excited about learning commercial art, which led them to start marketing themselves and eventually refer the artist to others, showing the power of engaging students in the marketing process.

💡Inquiry

An inquiry is a request for information or a proposal. In the context of the video, inquiries started coming in after the students began marketing themselves, indicating that the artist's strategy of offering free classes was successful in generating interest and potential sales leads.

💡Referral Network

A referral network is a group of people who refer business to each other. The video emphasizes the importance of building a referral network for long-term success in business. The artist's strategy of teaching students and getting them to refer high-value customers exemplifies the power of a strong referral network.

💡Premium Customers

Premium customers are those who are willing to pay a higher price for products or services, often due to their quality or exclusivity. The script indicates that the artist was able to attract premium customers through the referral network built by the students, which helped in growing the business.

💡Business Growth

Business growth refers to the increase in size, revenue, or market share of a business. The video concludes with the artist's business growing at a good rate, which is attributed to the strategic approach of offering free classes and building a strong referral network.

Highlights

Selling art is not only difficult but also requires a fusion of business acumen.

The artist had a successful business with art displayed in corporate buildings.

Despite good business, the artist faced challenges in scaling up sales through references.

The artist tried various marketing strategies but struggled to convert new customers.

Art is not a straightforward product to sell, and the artist was not a natural salesperson.

The artist deeply analyzed the situation and came up with an innovative solution.

Introduced free classes to teach commercial art, attracting many students.

Students were excited and started marketing themselves as artists after learning.

Students began to bring in inquiries and orders for commercial art pieces.

The artist's reference network grew significantly due to the students' activities.

Students referred high-value customers who understood the value of art.

The artist's business grew at a good rate, and the strategy proved to be very effective.

The artist learned the importance of building a strong reference network for business growth.

Offering something for free can be absolutely right in the long term for business.

The artist's strategy of offering free classes to build a reference network was a success.

The video aims to teach viewers the importance of creating a referral network for business.

The artist's story is an example of how to implement and understand a successful business formula.