Host Beneficiaries Who Wants to be a Millionaire
Ever wondered how to wow your customers or the customers of a friend in business or a business acquaintance? One of the most under utilized, yet, extremely effective methods is the "Host Beneficiary" or host ben for short.
The first thing our coaching clients tell us when we mention host bens is "host what?" Not surprisingly, I get very exited in introducing this strategy as it definitely teaches my coaching client something new and exiting that promises some special results.
The way it works is quite clever. The main purpose of the strategy is to introduce your business to the database of another business. Now, for all you hoarders of databases, don't despair, nobody gets to use your database in a malicious way, and in fact, it doesn't even have to be used directly by the business suggesting the host ben. The entire control can and in most cases does, unless time is an issue, remain with the owner of the database.
The specifics of the effective functioning of the strategy is to first of all offer something of value to the business through which you want to run this promotion. In fact, the way it really looks is that in the eyes of the host ben's customer, it's the host ben that looks like the very appreciative business which is either offering something for free or seriously discounted to its customers. And wait for it, it doesn't cost the host ben a cent. Why would that be a good idea from our point of view? Simply, you get to be exposed to the database of another business and can significantly improve the size of yours if people respond to this offer.
The first thing our coaching clients tell us when we mention host bens is "host what?" Not surprisingly, I get very exited in introducing this strategy as it definitely teaches my coaching client something new and exiting that promises some special results.
The way it works is quite clever. The main purpose of the strategy is to introduce your business to the database of another business. Now, for all you hoarders of databases, don't despair, nobody gets to use your database in a malicious way, and in fact, it doesn't even have to be used directly by the business suggesting the host ben. The entire control can and in most cases does, unless time is an issue, remain with the owner of the database.
The specifics of the effective functioning of the strategy is to first of all offer something of value to the business through which you want to run this promotion. In fact, the way it really looks is that in the eyes of the host ben's customer, it's the host ben that looks like the very appreciative business which is either offering something for free or seriously discounted to its customers. And wait for it, it doesn't cost the host ben a cent. Why would that be a good idea from our point of view? Simply, you get to be exposed to the database of another business and can significantly improve the size of yours if people respond to this offer.
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