Give it away -- the Returns are Great!

Some people think that sharing their knowledge or expertise with customers in some ways means “giving it away for free.” Whether or not that is true isn’t really the point. The point is- what you are getting in return?

Your customers obviously find value in the service you provide them, but is that enough to keep them calling you and referring you to others. Sharing expertise sends powerful signals and they are all positive. It provides a rare opportunity to build a relationship that transcends a transaction. It also tells your customers that:

-- You are interested in their success and satisfaction
-- You are an expert in your field and stay current on trends and best practices
-- You are a trusted partner, not merely a service provider and worthy of a referral to your customers colleagues and associates
-- You careabout their concerns and challenges
-- You are distinctive among your competitors

Bells should be going off about now. Businesses invest significant sums of marketing dollars to tell potential customers that they care and can be trusted. The Return on Investment (ROI) for actually walking the talk is much higher than simply talking the talk.

Certainly you have examples in your business dealings that illustrate this point. We recently had some work done on our house and hired a variety of carpenters, plumbers, electricians and painters. All did a commendable job, but the ones we will hire again are the ones who talked to us about what they were doing and why. They shared their experiences from other jobs and showed us how to do some quick fixes on our own. They gave away a good amount for free- and what did they get in return? Loyalty. We knew we had found trusted advisors that we could call on for problems big and small and more to the point, these are the professionals we refer to friends and neighbors.

The old saying that information is power is true. So sharing that information with customers empowers them- it makes them feel better and they wont soon forget who it was that gave them that power.

For example. the team that did our heating and air conditioning worked in brutal heat to run ducts through our stifling and tight attic space. All the while explaining what they were doing, future options and how we can maintain the new system on our own. It was educational, like having an insider explaining all the things no one else wants to divulge about their industry or craft. I certainly felt empowered and eager to share this special group of people with my peers- as we are always on the lookout for trust-worthy businesses.

I think I’ve made what I will call the “soft”case for sharing expertise. If you want to think of it in “hard” numbers, the business case for sharing expertise is even more convincing. They could have been less helpful and less caring in doing their work and probably saved themselves some time and money, but either would have diminished our favorable opinion and positive experience. In the month after our job was completed, we referred this crew to three friends who each hired them to install central air conditioning in their historic homes. The math is quite simple. It was a tradeoff of a few hours of building trust, sharing knowledge and demonstrating expertise and professionalism at an estimated cost of a few hundred dollars, in exchange for over $30,000 of new business and free marketing for life (in the form of our hearty recommendations).

Sharing your expertise and taking an interest in your customers is the cheapest and most valuable kind of marketing. It makes you distinctive in a crowded marketplace, something that is priceless in competitive industries today. But its your choice. You can do brand building the hard way, over many years and many dollars in advertising, or you can do it the easy way by sharing your expertise and empowering your customers, reaping the benefits much sooner.

So don’t be afraid to share what you know. It’s not what you “give away” that counts but what you get back.