Starting a business is exciting and ambiguous – and that’s the fun. It’s a time of possibility, experimentation, imagination, and showing the world what you can do. But, it can also feel slow, frustrating, and full of traps and distractions, leaving potential entrepreneurs to question their self-worth and to wonder why they started in the first place. As a small business coach, I’ll help you cultivate an entrepreneur’s mindset, so you can start and grow your businesses with confidence and step boldly into the role of business owner. Subscribe to get access to weekly tips, small business interviews, and more.
🤩 Keep Customers Coming Back For More
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Hi Reader, I last went to Disneyland in 2022 with my daughter. We did all the classics: photos by the castle, Dumbo (multiple times), the Teacups, churros (again, multiple), and yes – I got the R2-D2 ears, of course. Disney knows I’ll be back. Not just because of nostalgia, but because they invest strategically to make sure of it. They keep refreshing the experience for the same audience, giving people new reasons to return. You may not have a multi-billion-dollar park, but you can refresh your offers and experiences to deepen loyalty with your existing fans or customers. That’s Market Penetration – you're getting someone who already buys from you to buy more. From a storytelling perspective, if Market Development (see last week's email) is about telling your story to more people, Market Penetration is about telling more of your story to the same people — and telling it in ways that make them see new reasons to engage. For example:
I love a good case study. 🤓 Writing those examples brought me joy. Anyway, notice the pattern? It's not about reinventing yourself. It's standing firmly in your brand identity to deepen the relationship with people who already know you. The story leans into added value:
Want help brainstorming? Try this AI prompt: Copy and paste the prompt below into ChatGPT – fill in the blanks with your own details, then see what it generates. You can refine it from there. "I run a [type of business]. My customers already buy [product/service], but I want to encourage them to buy more often, spend more per purchase, or try variations of what I offer. Give me 5 practical, low-cost ideas I could test this quarter, using strategies like loyalty programs, bundling, discounts, or product variations." Use what feels helpful, toss what doesn’t, and remember – clarity comes with action. Until next time, Michael P.S. Did you like this email? Was it helpful or interesting? Reply to this email to let me know if you found value.
Michael Schefman | 321 Liftoff Copyright © 2024 by 321 Liftoff LLC |
Michel Schefman, 321 Liftoff
Starting a business is exciting and ambiguous – and that’s the fun. It’s a time of possibility, experimentation, imagination, and showing the world what you can do. But, it can also feel slow, frustrating, and full of traps and distractions, leaving potential entrepreneurs to question their self-worth and to wonder why they started in the first place. As a small business coach, I’ll help you cultivate an entrepreneur’s mindset, so you can start and grow your businesses with confidence and step boldly into the role of business owner. Subscribe to get access to weekly tips, small business interviews, and more.
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