This is a YouTube video titled "Bribe your customers. #businessowner #entrepreneur #businessideas" containing a monologue by Rich Schefren recorded on October 9, 2023. In this content, Rich Schefren discusses strategies for business owners to incentivize customer action and achieve quick wins to increase loyalty and retention.
One of the most important things that you can do, especially in any kind of customer, client, or member who's paying you, is to really think long and hard about how you can get someone either a quick win or a major success in a very short period of time. One of the things that I used to do with my programs, as I learned more and got better at doing them, was also incentivizing people taking action. So we had a bunch of people submitting case studies every week, and we would award a winner every week. We would fly down to our offices Thursday night. My team would help them with their business. We're going to try and market to people and bribe the hell out of them to achieve some level of success. Obviously, if someone achieves a success, they're much more likely to stay loyal and be retained. They're also really good propaganda for us to then get other members right.