As a business owner, many questions and concerns might be going through your head daily. One of those universal questions might be, “Should I be offering more services to my customers?” And the answer is, in most cases, yes. Adding more services to your arsenal of offerings is a great way to diversify, draw in new customers, solidify relationships with existing customers and increase market share. However, adding additional services to your business model should be a well thought out and strategic move. And, don’t worry, Pet Butler’s Business Opportunity is taking the booming pet industry by storm and has the guide you need to add those services and reap the benefits.
There are many reasons why businesses make the decision to add services, let’s explore a few:
- Avoid tunnel vision – Businesses that specialize only in one or two services often fall into a kind of tunnel-vision, becoming so fixated on those services that they forget what else their customer might need from them. Over time a customer might find that their needs are not being met so retention begins to erode as they look to other providers.
- Increasing reach into new prospect groups and markets – Especially for established businesses, the plateau effect is real. You may have reached a high level of saturation in your targeted audience. By adding new services, it can help you reach new audiences that weren’t prospects for your existing services as well as make new revenue streams out of your base.
- Offsetting seasonal slow periods – If your business is seasonal in nature, dependent on the weather or any cyclical events, your additional service offering could be geared toward filling in the gaps during that slow season. This helps create a more sustained business flow, lowers risk, improves internal and allows for revenue projections that can support growth.
- Pivoting with external fluctuations – The year 2020 will go down in infamy as the year the entire global economy had to pivot in some fashion or another. If 2020 taught us anything, it’s that we should be prepared for anything! Certainly, those events could not have been predicted, but external fluctuations can happen and without warning. Having a diverse service offering is an excellent buffer should an external fluctuation happen that impacts one of your business’s existing services or products.
Pet Butler’s business opportunity helps existing pet industry businesses to diversify their services. With our experience we have come up with 4 tips for why businesses should add to their business model.
- Create a combination of existing services. Creating a package deal can offer your customers value and create an additional layer of revenue for your business.
- Offer something free. Offering a freemium model can be a good way to reel in new customers that may lead to a revenue model in the future. The freemium product or service is usually a light version of the “paid” service that has fewer features.
- Quantify things you already do. Are you offering things to your customers that could be a revenue stream to your customers? It’s a common occurrence as a business evolves and changes. Do an audit of what you do for your customers looking for areas that could turn into a new revenue stream.
- Become solution-oriented not service-oriented. Businesses that focus on solving problems not just providing services often find additional ways to lift their bottom lines.
Whether you are offering a hybrid bundle of your existing services or creating a freemium model to attract new services, your efforts to add more services to your business model are likely not wasted. This can be a way for you to attract new customers and deepen your relationship with existing ones.
Pet Butler, the business opportunity in the thriving pet industry, offers services that can complement many other existing businesses. Pet Butler’s services can create a repeatable and recurring revenue that will help you build a sustainable business. The Pet Butler model offers many advantages like:
- Low overhead – The Pet Butler model can be started even as a home-based business with very low fixed overheads.
- Efficient Routing – The Pet Butler support system helps you maximize your business with the use of our routing software.
- Customer Service Efficiency – The Pet Butler model help you serve your customers in real time allowing you to be responsive to customer needs and build a strong reputation for your businesses.
- Recurring Customers – The model of a Pet Butler business is to build a predictable and sustainable revenue stream.