Welcome to Car Talk. This is not talking about cars, this is talking inside of a car. Today’s topic is about the current big three R’s of growing your business. Big three R’s, three R’s: Repeats, Referrals, and Reviews. In this social media world, some things have evolved and changed, and some things have changed exactly the same. Word of mouth is stronger than ever, that’s where referrals come in. Trying to get a repeat customer, that’s the same as it’s always been, repeat. And reviews, because people look at them, oftentimes before you do it. So the three R’s: Repeats, Referrals, and Reviews. If you have a business, if you’re looking to start a business, if you’re looking to grow your business, those are three things you need to pay dire, utmost, 100% attention to, because they can expand your business, they can grow your business, or they can make your business die. We’ll hit them one at a time, not in too much of a depth, because you’re pretty smart, you already know the gist of how these things will work.
In order: Repeats. You want a customer to come back to you. Now some industries, some businesses, people will come by all the time. If someone is buying a gallon of milk, that’s a pretty regular thing. If someone is buying a car, that’s a less often thing. If someone’s buying a house, that’s a much less often thing, but. You want customers to have such a good experience, be pleased with the product and the experience that they will come back again; repeats. Number two: Referrals. You want every customer to be so happy, and impressed with your product and your service, and the overall experience, that they have no choice but to tell a friend; referrals. It used to be people could only tell a couple friends. Now with social media, it’s a lot more than you even thought it was. Someone could tell 10,000 friends in an instant, and we don’t even know who they are. So referrals have never been more important. So you need to make sure each and every customer is satisfied, and not even satisfied but is impressed, and have no choice but to tell their friends and family about your goods and services. And three: Reviews. Now I admit, I am a little bit skeptical on reviews, because I think most people don’t have time for reviews.
I think you get the top and the bottom 10% of satisfied customers, and most people to be honest, myself, I buy stuff online all the time. I have never left an online review. We travel, I have never left a review for any hotel, anything like that, because I’m too busy. I don’t have time for that crap. I’m just going to be honest. So most people, I think, don’t have time for that, and people that do, you have to question them in the first place. All that being said, they’re still important.
I sell a lot on Amazon, I sell a lot on Amazon. And reviews on that are super, super important. The customer experience, the product, the bending-over-backwards for any concern a customer has, proactively reaching out to them; that enables good product reviews. There’s just no way around that. There’s supposed to be a difference on Amazon between seller reviews and product reviews; most customers don’t even understand that. Different topic, but you have no choice if you want to succeed on Amazon, or any business in this you have no choice but to remember that reviews are important. How important? You can debate that one a little bit, because most people realize that most people don’t have time for that. They’ll read reviews, I read them all the time, but I’ve never left one. But that’s the three R’s you have to remember today for business.
A reminder, again, the three R’s: Repeats, Referrals, and Reviews. Make sure a customer wants to come back again. Next time they’re in the market for your goods and services, make sure they come back to you; that’s Repeat. Two, Referral. Make sure they will refer a friend, tell a family member. Three, watch your Reviews. And those are really, they’re all basically the same thing. If you treat every customer perfectly, and impress them every time, these three R’s, they carry themselves. But there are three things, you can’t neglect any of them. But they all take care of themself from the same place. If you do a stellar job, each and every customer, every time, these three all take care of themselves. But still, they’re the three R’s to remember for today: Repeats, Referrals, and Reviews. Always remember them. They are all super important to grow or expand any business, and neglecting them can cause your business to die, nothing anybody wants. Car Talk, Tyler Douthitt.