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This is Episode 57 of This Old New Business weekly business podcast with Jeff Korhan.
In this episode, Joe Calloway discusses how every company can apply the concept of magnetic marketing to winning more business by learning to leverage what its customers say about it. According to Joe, “The single most powerful force for growing a business is word-of-mouth.”
A repeat guest on This Old New Business, Joe Calloway is a speaker, business author, and is the Executive In Residence at Belmont University’s Center For Entrepreneurship. Joe helps entrepreneurs and owners improve performance and grow their businesses.
Simplify How You Define Customer Success
One of the reasons companies fail to attract new customers is not knowing with clarity what a successful relationship with their customers looks like.
Joe Calloway challenges businesses to simply. He recommends learning to focus on the three most important things in your business, that if you master them, you will win. For Joe personally, this includes doing great work, being incredibly easy to do business with, and striving for an amazingly fast response time with all business matters.
Magnetic marketing is not what the business has to say, but what customers and influencers are saying that matters most. According to Calloway, “Your existing customers should be driving a never-ending stream of new customers and new revenue to your business.”
If you think of marketing as something your business does to promote its products and services, you should listen to the examples discussed in the audio. A snowboarding start-up that Calloway advises, Gilson Boards, uses the slogan: Your board doesn’t exist yet. It’s a reflection of the magnetic marketing premise that your work is your marketing.
When you get that right, your customers do your marketing for you.
I’d love to hear your thoughts on magnetic marketing. Meet me over on Twitter to take the conversation further.
Key Take-Aways
- Planning is Everything: How to Improve Business Performance is an earlier podcast episode featuring Joe Calloway.
- Joe Calloway is Executive in Residence at Belmont University’s Center for Entrepreneurship, learn more about this No. 16th ranked among The Best Undergrad Entrepreneurship Programs for 2016.
- Learn more about Joe and his work, and get further information on the Gibson Boards start-up at JoeCalloway.com.
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About the Author: Jeff Korhan, MBA, is the author of Built-In Social: Essential Social Marketing Practices for Every Small Business and host of This Old New Business podcast.
He helps organizations use media to create exceptional customer experiences that drive business growth in a digital, social and global world. Connect with Jeff on LinkedIn, Twitter, Facebook, and Google+
Joe Calloway is a consultant, speaker, and author who helps successful businesses improve performance and grow. Joe is the author of the books Be The Best At What Matters Most and Becoming A Category of One.
You’ll have to listen to the audio to get the full conversation, but Joe’s point is essentially this: Planning helps one get rounded, centered, and sure. In other words, planning is all about knowing. So, as Joe says, “If you know your stuff, then you’ve planned enough to have the confidence to implement well.” 
