Why having an actual office can grow your ROI

3/27/2017 (Permalink)

Why having an actual office can grow your ROI...

Do you offer products and services to a client? Have you given up paying for physical space and set up shop in your garage with a desk in the living room? You may want to think again

While cost savings and a reduced back end operating cost is always important it may not be the best way to maximize your profit margins and control cost. There is a new emergence and longing for a connection from consumers. They are seeking out the differentiator. While still price driven they strive for the best for their money and many times the personal touch and extraordinary service that online outlets lack is just what they are looking for. Many are willing to pay a little extra to get so much more. There is an element of connection that is lost with only an online venue for goods and even services.

There is a shift with many consumers looking to enhance their experience with personal connections. The ability to stop into the local shop and talk to “Jerry”; have all your questions answered, items received, and problems solved immediately. Without a call tree, 40 lines of script back and forth with what seems like a computer or even a sent email into the abyss hoping for a reply up to a week later.

Having a fixed location can set you apart from your competition. So you are service driven company, how could spending money on an office possibly help you? Let us take a look at that. Which one of your key competitors has an office? How knowledgeable are you about your industry? What information would you like clients to know about that won’t fit on flier? Bet your wondering why we just asked you all these things.

If you have something your competitors do not you are already better off. An office can be a way to differentiate yourself. Clients can come into your office sit with you; understand what you are doing and how you can help them. Providing them an option other than their home gives you more control over the situation and could lead to better job conversion.

Your knowledge of your industry can prove pivotal if you have an office. You can hold seminars or lunch and learns for potential clients. This will show you are an industry leader and provide a smaller more intimate one on one learning environment to interact with potential clients. It also allows you to separate the more challenging things you come across. Common and frequently asked questions can be explained one time to a larger group reducing lost production time.

Developing a sense of who you are can earn you bonus points and getting to know the community beyond those you currently know is essential for growing your business. Most industries cannot rely on repeat and referral only. There was a time you actually went out and got new clients, you would not have a business if you had not. Why did you stop, get it going. Every year through attrition you lose up to a third of your business. What are doing to replace it?

The office can be the perfect way to engage, educate and encourage new clients to choose you over a competitor. One to one meetings you have control over, educational seminars to prove you’re a leader in your industry, Q&A sessions for potential new clients to get to know you and the services you offer. Win win all round..

So work on finding that office and get out of the truck, garage, or house and stop letting your business run you.