| If you are like most companies, when you hear | | | | baseball teams, belong to clubs, regularly play golf |
| the term Centers of Influence, you automatically | | | | at a local country club, etc. Because of these |
| think of lawyers, accountants, or insurance agents. | | | | opportunities to interact with other business |
| However, that is a very narrow definition of the | | | | people, you actually become a center of influence. |
| word Center of Influence or COI. A modern day | | | | Never forget that as a company owner, sales |
| company focused on retaining companies as their | | | | manager, or sales professional, it is incumbent |
| customer tends to expand the definition of center | | | | upon you to make sure you are exposing your |
| of influence and begin to think of all businesses | | | | customers within your network. Therefore, you |
| and business owners as centers of influences. | | | | simply become the center of influence. In addition, |
| However, even if you expand the definition in | | | | while you should never use that wastefully, you |
| your head, how do you go about capturing and | | | | should never forget that you have a duty to your |
| utilizing your centers of influence? Following three | | | | customers to help them grow their business. |
| key ideas will help you retain more customers by | | | | Leveraging Your Assets |
| capitalizing on already existing centers of influence. | | | | Finally, do not overlook the fact that your existing |
| It is Not What You Know, It is Who You Know | | | | customers could also be centers of influences to |
| One of the greatest faux pas that companies | | | | others in your customer base. This means that |
| commit is to assume that only accountants, | | | | some of your customers can serve as centers of |
| lawyers, and insurance agents can serve as | | | | influence for some of your other customers. This |
| centers of influence. The logic is valiant in its | | | | requires you to make introductions within your |
| intent, but almost misguided in its execution. | | | | network and help some of your customers grow |
| Traditional thought goes along this line and states | | | | their businesses by working with some of your |
| that since lawyers, accountants, and insurance | | | | other customers and their network. Clearly, this |
| agents work with so many individual customers, | | | | can be a tricky operation. Nevertheless, if you |
| they naturally serve as a good centers of | | | | make sure that you do not haphazardly try to |
| influence because of their large customer base. | | | | mix oil and water, you will see the results of your |
| However, that overlooks the fact that the | | | | customers benefiting from working with each |
| owners, teachers, police officers, and nearly | | | | other and you will create more loyalty because |
| every other person in the world, can serves as a | | | | you will treat your customers as influential |
| center of influence. So if you want to really take | | | | members within their community, or business |
| advantage of a center of influence, do not focus | | | | environment. |
| narrowly on the accountants, lawyers, and | | | | Too often, the term center of influence is used |
| insurance agents, expand on the definition. In | | | | to describe a very narrow set of people, |
| other words, look at your friends and existing | | | | industries, and positions. By expanding the |
| customers as the centers of influence on their | | | | definition, you can help your customers as well as |
| world. This could be the preacher who is a COI | | | | yourself grow your business and become |
| for his parish or the business owner who is | | | | stronger and more profitable. You can use |
| involved in his Chamber of Commerce. | | | | yourself, other centers of influence, or some of |
| Looking at the Man in the Mirror | | | | your customers to help retain more of your |
| Never forget that you, too, can be a center of | | | | customers. |
| influence. More than likely, you already coach | | | | |