If you’re making decisions for your work, here’s why quality is more important than quantity in the business world.
Whether we’re referring to friendship groups or the clothes that fill our wardrobes, the saying ‘quantity over quality,’ helps many of us to remember what matters the most.
Yet, when it comes to business, we can be so focused on building an empire that we forget this rather important sentiment altogether. Instead, we spend our time thinking about how our businesses can grow bigger, not necessarily better, than the rest.
This is an issue that’s never going to lead to the success you’re aiming towards. In particular this is true in an age where customers are stepping away from big chains in place of smaller enterprises, thus putting quality very much back at the forefront.
I know a lot about this subject. I’m a recovered ex-Advertising Executive – once a Senior Vice President Creative Director in top New York agencies. I’m now an online entrepreneur with a range of bestselling books and video courses. I love to help entrepreneurs and businesses of all sizes with their growth. I offer 1-on-1 marketing consulting – here.
In this article I will be sharing about the importance of choosing quality over quantity in business.
To prove just how much so, we’re going to look at the three main business lessons that prove just how fundamental a quality over quantity mindset can be.
Any business looking to make its mark is guaranteed to go in hard and heavy with marketing efforts that generate new leads. After all, if you don’t get them your competitors surely will, right? Hence why online marketing methods with the widest reach, such as social media, are now such hot news.
We aren’t going to sit here and tell you that lead generation doesn’t matter. Because it does. That said, focusing solely on the number of new customers that you’ve got coming in isn’t always best for lasting success. In fact, this can be seen by companies that fall under the one-time purchase curse. This happens far too often in cases where companies blow their entire marketing budgets on customer acquisition! And it’s bad news indeed!
Instead, businesses who see real success often do so by distributing budgets both towards new acquisitions and loyal customers. As well as being five to twenty-five times cheaper to achieve, refocused sales conversion efforts like email newsletters and loyalty schemes are 60-70% more likely to result in sales. Not to mention that they ensure you have loyal fallbacks should industry issues ever arise. You definitely can’t say that with a multitude of passing custom.
In the modern age, there’s a fair amount of pressure for businesses to be as available online as possible, leading many to create extensive websites that work alongside accounts on all of the biggest social media platforms. But, less could well end up being more here, too.
After all, while online presence is definitely a prerequisite right now, it’s unlikely to land if you’re trying to do it all. By comparison, honing in on one or two platforms makes it easier to perfect your content. Plus you can forever reply to comments and interact in ways that get you on that algorithm’s good side.
Along the same vein, an overloaded website could see customers with increasingly short attention spans clicking away before they’ve even found out what you do.
By comparison, many companies right now are discovering the benefits of a one page website that simplifies your business message and saves the curse of scrolling through pages of text. While it might seem like a step away from the norm, this option is certainly proving invaluable in an age where more customers than ever browse on their phones. After all, no one wants a wall of text on a mobile screen. So less is definitely going to serve you better!
Lastly, it’s worth thinking about this quality focus where your products themselves are concerned. Again, this can seem like it goes against advice to diversify your product range, but it’s surprising how much of a difference it can make to focus on just a few things that you know you do well. You’ll certainly see more success this way than with a quality-compromising one-stop-shop approach.
Of course, this doesn’t mean that you need to let services stagnate, but rather that you need to find your niche and consider quality ways to grow within that. Look at Apple, who ultimately offer quite a narrow range of products, but are continually evolving within that scope. Take a leaf out of their book by sticking with your landmark launches, and simply finding ways to continue evolving those.
The modern market is, unfortunately, often tailored towards a quantity approach. But, as many companies are starting to realize, customers are typically going the opposite way.
So ask yourself:
I love to help entrepreneurs and businesses of all sizes with their growth. I offer 1-on-1 marketing consulting – here.