Most business owners have more on their plate than they can handle most days, but affinity consulting is here to help alleviate some of that workload for you!
For those of you reading this who are a small business owner and have no idea what “affinity consulting” is, that’s ok. Read on and you will find out. It’s not nearly as intimidating as it sounds.
In fact, it has the potential to be one of the easier challenges you will face as a small business owner, and the returns are well worth the investment!
To best understand what I mean when I talk about affinity consulting, we should first discuss what Affinity is. We are referring to more than just a “liking” of a certain person or thing. That would be a generalized, yet accurate interpretation of the word affinity.
Business-wise, we are referring to groups and organizations that have taken the meaning of that word and developed their own credo on the foundation of “affinity.” These groups and organizations join together under one common cause or action related to business, whether non-profit or for-profit.
They get together to fellowship and share their ideas and common interests. There are many thousands of different groups and organizations that characterize themselves as an affinity group or organization.
Their common cause or purpose ranges from simple things such as a sports team that all members of the group love and support, to community outreach groups that are very involved in their surrounding neighborhoods and cities.
The latter of these groups of people get together regularly to organize charity drives or collect signatures for petitions towards certain humanitarian causes they feel strongly about.
These affinity groups and organizations form partnerships with businesses that have a shared set of values and principles because they and their members use or have an interest in the products or services the company provides.
Once the partnership is formed, the affinity group will promote the products and services of the company to their members. In turn, they receive incentives and discounts for purchasing those items and services from the company.
It is a win-win scenario for both the affinity group and the company. These partnerships exist in almost every type of business to one degree or another. Some of the most common examples are credit card companies and sports team’s fan groups.
You’ve seen them I’m sure. A credit card from Visa or Mastercard with a sports team’s logo on it. The cardholder receives special discounts on their team’s merchandise or other perks related to their chosen team.
Because of the sheer number of affinity groups, with all of their varied causes and humanitarian efforts, it can be difficult to figure out which one will be best as a partner for your business. Not all will actually decide yours is the business they wish to partner with.
Different groups have different ways of voting on such matters and some require a unanimous vote by all members. Nothing against your business, but some affinity groups may not want to promote or “sell” your products to its members. That isn’t to say they think your product doesn’t hold value. It may just not resonate with their members.
It’s like a charity organization or maybe the Girl Scouts teaming up with a local billiards equipment supply company….the shoe most certainly does not fit in that case.
Not all partnerships are created equal, as you can see from the example just given.
So, let’s get back to the original subject matter: affinity consulting… it’s something done by affinity consultants, of course!
Their job is to do what you have very little time to do: research!
They come to your business and they assess what it is you are providing and what benefits you have to offer (and what you can afford to offer; also important) and they take that information and start trying to find a comparable group that will enjoy promoting your product to its members.
Of course they also find what the benefits of the partnership will be to your business, as well, which is just as important.
They essentially take away the leg work for you. Trust us when we say that it is not a small thing to find a group that best coincides with your business. It takes a lot of time and research of several different affinity groups to find the right fit.
What business owner out there has that kind of time or energy? Most leave work every day knowing they are leaving several different projects half-finished. But, you’ve gotta eat and sleep sometime, right? Short of setting up a cot in the back room, most practically live at work and still feel like they can’t get caught up.
Let the experts take that load off your back. You may be asking yourself, “Well, if it’s such a challenge and would require me to hire someone to do it, why bother?”
If you’re asking yourself that question, that means you are perceptive and a smart business owner. Well done!
But here’s the thing: a partnership with an affinity group or organization can pay dividends for your business. Just look up some of the statistics of businesses’ sales data, both businesses that are a part of an affinity partnership and those that are not, and do a quick comparative analysis.
I think you will find that when paired with the right group or organization, most businesses see a massive uptick in their overall sales!
Maybe you are concerned that you can’t afford to offer incentives to an affinity group’s members. You’re counting pennies as it is, right? What is this crazy talk about offering discounts to people?
Here’s just one small statistic for you that should completely abate your concerns: people that know they are going to receive an incentive or discount for purchasing items through a particular business or company are nearly 70% more likely to spend more at any given visit.
Starting to get the picture? Dollar signs flashing before your eyes, maybe? Affinity groups can be a huge bolster to your bottom dollar.
Maybe you have been searching for a way to break into a target demographic and haven’t been successful yet. Let your affinity consultant find that group for you! They will take all of the information you give them and what your goals are within that target market and run with it!
They know how best to narrow down all of the different options to the specific groups that will help you achieve your business goals the fastest with as little cost or effort on your part. You will need to maintain the partnership, of course, once it is set in place.
But an affinity consulting company will help you reach the full potential you’ve been hoping for with the perfect affinity group for your business!
If you have any further questions or concerns about this or any other business related matter, we have all the answers for you! Please, honor us by giving us a call here at (888) 510-9871.
We would love to share our expertise on this and other business related matters. It’s really what wakes us up in the morning… that, and a quadruple espresso!
It’s not just affinity consulting that we know, either. RedFynn also specializes in, and goes the extra mile with, business intelligence and efficiency to help you fine tune your business to the best it can possibly be.
To do this, our suite of cutting edge tools and services include merchant services, payment processing, business loans, loyalty programs, PCI compliance, EMV compliance, accounting, and much more, ensuring both increased business savings and business earnings.