client retention Archives - Dr. Ivan Misner®
Case Studies

How to Create Case Studies that Make Customers Buy, Engage and Ascend

I’ve asked Robert Skrob to write another guest blog for my site.  Robert is also the author of “Retention Point, which I highly recommend.  He previously shared the topics of “The New Customers Experience” and “Creating a Vibrant Community Around Your Company” on my blog.  Today, he is sharing the topic of creating case studies. Read closely – Robert is truly an expert.

Creating Case Studies

Your customer has three important decisions to make about you and your products. With each decision you have the opportunity to win or lose the customer.

Those decision points are:

  1. Should I give this product a try?
  2. I bought, is this really worth what I invested in time and money?
  3. I’ve been a customer for a while, I’ve enjoyed this in the past but is this still worthy of my time and money?

There’s one marketing tool that can help your customer choose you each time: a well-crafted client case study.

Really? A client case study?

Yes. These case studies and client stories are the most powerful tools you have on your side to foster strong relationships with potential customers, new customers, and long-time customers.

The publishing industry has undergone a huge transformation in recent years with subscriptions at historic lows. Today, Business Week is a shell of what it was with fewer than 950,000 subscribers each month. People Magazine, however, has more than 3.5 million subscribers. People want to read about other people.

Your customers want to hear about people like them. They want to hear stories of striving, overcoming, and of the underdog beating more powerful rivals. As great as your teachings and training resources are for your members, these stories are what they really want. You’ll attract and retain your customers in proportion to how well you deliver these stories.

These stories also prove that what you say is true. When you deliver example after example of individuals who have used your product or service and succeeded, you impact how your members think about your program and themselves. Even if a customer hasn’t gotten results. After reading or watching a video about one of your client success stories, they think, “Gee, maybe this is possible.”

After enough of these stories, your customer says to himself, “If that guy can do it, I can do it, too.” After this mindset transformation, she’s a lot more likely to use what she purchased and consider buying more. Which brings us to the question of the day:

How do you write a terrific client success story?

Recently, a long-time client asked me the following question about case studies; perhaps you have wondered something similar:

“My question for you is do you use these questions on clients based on what YOU did for them? YOUR process? Meaning, should I do these to sell myself and my product? Or do I put these forward as their own case studies of how my client became successful and leave me out? Then just mention some of the things I teach?”

On how far to promote yourself and your strategies in your case studies — it depends on the how you are using them.

If you are presenting case studies within a sales presentation, then you’ll want to make it clear where you were involved.

Or, if you are presenting this case study to existing members, you may be advocating a key philosophy. In this case, you may indicate the person is a member or client, then describe how using a particular product or service you sell created the impact.

To summarize: If you are in an overt sales situation, then be overt about your involvement. Then, in many other cases, it may be appropriate to illustrate the power of implementing your philosophy.

My formula for creating case studies is simple. I start by recording an interview with my member. I then provide the interview transcript to a writer to create a written case study.

Here are interview questions to get you started.

As you read the questions, replace the words “your member breakthrough process” with the name of your product or coaching program:

  • What’s your background? How did you get started doing what you are doing now?
  • How did you discover “your member breakthrough process”?
  • What did you think of it when you first saw it?
  • How did you get started implementing “your member breakthrough process”?
  • What has changed in your life since you discovered “your member breakthrough process”?
  • What advice do you have for someone else who has just discovered “your member breakthrough process” and is deciding whether or not to try it?

For best results I conduct these interviews personally. I can explore areas that would be interested to members by asking follow-up questions. However, if time is short I’ll often send these questions out as a survey instead.

Once I have a good interview recorded, I use the transcript to craft a compelling success story.

Once you have these case studies, you can use them in presentations, monthly newsletters, pull them together into books to give to prospects, or include them in email follow-up sequences to convert more prospects int customers.

Use demonstrations, capture case studies everywhere you can, and teach through examples rather than relying only on lectures.

Robert Skrob is the #1 expert in membership and customer retention and the author of the book, Retention Point The Single Biggest Secret to Membership and Subscription Growth. He has helped hundreds of membership programs launch and then grow from start-ups to become some of the largest membership and subscription companies in the world.

 

Vibrant Community

Creating a Vibrant Community Around Your Company by Robert Skrob

I’ve asked Robert Skrob to write another guest blog for my site.  Robert is also the author of “Retention Point, which I highly recommend.  He previously shared the topic of “The New Customers Experience” on my blog.  Today, he is sharing the topic of “Creating a Vibrant Community Around Your Company”. Read closely – Robert is truly an expert.

Creating a Vibrant Community Around Your Company

What if you had 45 percent of the available customers within your market?

The mutual fund company, The Vanguard Group, does just that. More than 45 percent of the money flowing into mutual funds today goes into a Vanguard managed fund.

You’d think they wouldn’t need to do much for their customers. Since they specialize in index traded, set-it-and-forget-it type investment vehicles, you’d think they wouldn’t need to communicate with their members. In fact, the opposite is true. The Vanguard Group has one of the most vibrant customer tribes in the investment world, and it’s a large part of their success.

The term “Boglehead” may not mean much to you, but I’ve been a Boglehead since 1991. Actually, we weren’t called Bogleheads then; instead, we were known as “Vanguard Diehards.”

While I pursued my master’s degree in accountancy from Florida State University, I wrote a paper about index fund investing. Mind you, this was during the big recession of 1990-1992. Through my research, I discovered that fewer than 30 percent of the professionally managed mutual fund companies beat the S&P 500 index in any one year. And a much smaller percentage could beat the index over a period of five or 10 years.

I figured if full-time professionals couldn’t consistently beat the S&P 500 index, why should I believe I could pick stocks any better working part-time? I became a believer in index fund investing and have stuck with it ever since. Of the index funds, The Vanguard Group is consistently the least expensive, so I’ve been squirreling away my savings there ever since.

Jack Bogle, the founder of The Vanguard Group, passed away in January 2019 at the age of 89 years old.

As the founder and while CEO of Vanguard, Jack was an avid promoter of index fund investing. He was an outspoken critic of high-fee mutual funds and “financial buccaneers offering a panoply of silly investment strategies that people may not understand.”

Jack Bogle created thousands of fans. One of them started a membership site called Bogleheads.org. It’s grown to have an annual meeting with appearances by The Vanguard Group executives, a field trip to Vanguard headquarters, and featured speakers from the world of personal finance.

You may have different opinions with regard to investing. You may be a financial advisor who offers investment vehicles that directly conflict with what’s published on Bogleheads.org. However, see Bogleheads.org is an excellent case study on how you can create a vibrant community around your company, no matter what you offer.

Within the “Start here” menu, Bogleheads.org outlines the investment philosophy first promoted by Jack Bogle during the 1980s.  This gets new members caught up on the values of the Boglehead community. In a word, it indoctrinates them. This is a critical piece that’s missing from most information marketing businesses.

Bogleheads.org gives its members valuable information (ROI), a connection to a community of like-minded people, an opportunity to contribute by posting content, recognition for being helpful to other members, and an opportunity to be part of something greater than themselves.

Even though the site has a dated design and the founder of the philosophy has passed away there are still thousands of active users every day.

Plus, for Vanguard, it insulates its members against all the conflicting investment offers within the marketplace. The community helps customers believe the single best investment option is low expense mutual funds. The same low-cost mutual funds Vanguard happens to specialize in delivering.

What if you had a community indoctrinating new customers into believing the products and services you offer are indeed the best solutions to your customers’ problems? Perhaps like Vanguard, you could own 45% or more of your market?

It all starts with your core values. BNI’s core values are Givers Gain®, Building Relationships, Lifelong Learning, Traditions + Innovation, Positive Attitude, Accountability, and Recognition. When BNI members experience the power these values have within their business life they become excited members for life.

What are the core values of your company?

For The Vanguard Group, Jack Bogle had to convince investors that index funds were the smarter way to invest. What must your customers believe and how should they behave to get the most value from what you deliver?

This may be an “advanced” marketing skill. But when it’s complete, it can give you a fast-growing world-wide business that leaves competitors scrambling for second place.

Robert Skrob is the #1 expert in membership and customer retention and the author of the book, Retention Point The Single Biggest Secret to Membership and Subscription Growth. He has helped hundreds of membership programs launch and then grow from start-ups to become some of the largest membership and subscription companies in the world.

Results Talk. Everything Else is an Excuse.

I had a conversation with a franchisee a few weeks ago and I’ve been thinking about it for some time since.  We were talking about a marketing strategy that has proven to be very successful for many franchises within his company for many years.

When I asked the franchisee why he wasn’t participating in the program he said, “I don’t want to do that.  I don’t think it works.”  I said, “Really?  The top three franchisees around the country use it– just what about the technique is it that you don’t think works?”  He said, “I think the technique reduces client retention.”  I pointed out that the retention of the top three franchisees mentioned above was HIGHER than the client retention of his franchise.   He said “Yeah, but I just don’t think it would work in my area.”

I still can’t believe he really said that.  This is an intelligent individual who gave me one of the lamest answers I’ve ever heard for not doing something that works.

The bottom line is that the marketing strategy in question is in fact, hard work.  I believe that he just didn’t want to do all the hard work necessary to implement the strategy and he rationalized his position with half-baked excuses.

When a strategy works in many places and yields big results then all the excuses in the world for not implementing the strategy are just that–excuses!

Have you ever had a conversaton with someone like this?  If so, I’d love to hear about it and find out out how you handled it.

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