Here's a proven, and truly easy way to start increasing your sales, immediately.
All you need to do is add these 2 words to your selling system, and you're good to go.
In fact, this trick's so good, I wish I could take credit for coming up with it, but the truth is, it comes from a little-known marketing legend.
Here's the deal:
In 1947, Elmer Wheeler was one of the best-known salesmen of his time. His "Wheeler Institute of Words" developed a "best practices" of selling, by testing a variety of words in over 19 million selling situations.
I'm right in the middle of reading one of Elmer's most famous books, "Tested Sentences That Sell".
And here's a great little selling trick that comes straight out of this book:
Ever go into a restaurant and order a drink?
Of course you have.
And what does your server usually ask you, right after you place your order?
They usually say "Small or large?", right?
Well, imagine for a moment... you're the owner of this restaurant.
Do you have any idea how much your sales would increase over time, if... instead of saying "Small or large?" after your customers ordered their drinks ... you told your servers to instead, say...
"Large one?"
Let me take the guess-work out of this and make your job easier for you.
Elmer Wheeler tested this experiment out in five-thousand separate selling situations. And the results showed, when your server asked "Large one?"...
7 out of every 10 people, answered "Yes!"
So, let's say a large soda costs you 35ў more than a small soda -- are you with me on this? This means, by saying "Large one?"... 7 out of every 10 customers that walk through your door, end up giving you an extra 35 cents!
Now you may be thinking, "So what?... It's only 35 cents."
A-h-h-h, but remember....
Little Hinges Swing Big Doors Open!
Follow me here for a minute: If you've got 5 servers... and each of them does this with 100 customers a day, this means each of them will be serving large sodas to an extra 70 people a day.
That's an extra 350 large soda sales a day. (5 servers x 70 large sodas each).
350 extra sales, at 35ў each, is $122.50 a day in extra gross sales for you... which translates into $857.50 extra a week, and over 52 weeks, this turns into...
$44,590 Dollars A Year... With ZERO Extra Marketing Costs Involved!
Not bad, hey?
And if your large sodas cost 50ў more than your small sodas, in that case, your annual bump in gross sales would be $63,700 Dollars!
70ў more? O.K., that one's easy -- just double the 35ў figure -- now you're selling $89,180 Dollars more!
See how easy this stuff is?
It's insane, isn't it?
But what if you don't have a restaurant?
How can you use this trick in your business?
Well, let's say you own a photography store. When people are filling out their forms to get their pictures developed, instead of saying "Singles or doubles?", you can say "Doubles?".
If you own a landscaping company, instead of asking "Shrubs and lawn?", you'd say "Whole yard?"
And if you're a hairdresser, instead of asking "Cut and shampoo?", you just say "Shampoo?"
Make sense?
When it comes down to it, the basic premise of this selling trick, is...
If You Don't Ask... You Don't Get!
But polishing your request up so it's "benefit-oriented" to your prospect... makes this work smoothly... effectively... and without looking like you're trying to "sell more".
Notice how you're not asking "Do you want a large soda?" -- you're just saying "Large one?"
See, you'll have to experiment a little bit to find out what works best in your situation, but not you've at least got one helluva head start on things, no?
And can you think of any easier way to make this kind of extra money?
Elmer Wheeler really was a "selling genius" and you'll pick up quite a bit from him.
And, from the excitement and enthusiasm he comes across with, you know he enjoyed his work.
Here are a few of Elmer's famous quotes:
"Your first 10 words are more important than your next 10,000."
"People seldom want to walk over you until you lie down." And...
"Don't sell the steak, sell the sizzle."
Unfortunately, Wheeler's books are all out of print. You'll find them showing up pretty consistently on e-bay though, and, you can also find some of them on www.abebooks.com or www.alibris.com.
P.S. Remember, little hinges really DO swing big doors open -- and success lies in the margins, not in the vast open spaces. KSo keep your mind open to finding the small things that others let slip... through the cracks.
"Craig Garber is America's Top Direct-Response Copywriter. You'll find hundreds of marketing tips to increase your sales, and his insanely popular FREE Direct-Response Marketing Tip Of The Week, on his website, www.kingofcopy.com. Copyright © Craig Garber. All rights reserved."
Monday, September 28, 2009
Sunday, September 27, 2009
What Does It REALLY Take to Be Making 6-Figures as a Service Professional?
Over the past 30 years, I've read so much on how to make
money that I know I can write a series of books on the
topic, books that would cut through the junk and you don't
have to buy 101 things for each area.
Most of the information repeats itself -- same author,
different title and packaging or different author repeating
someone else's list. All the how-this and how-that was
driving me crazy as to what is REALLY required to make
$100,000 or more in revenue.
A few months ago, I decided to go on a pilgrimage to create
a quick and easy-to-see, all-in-one-place list of what does
it REALLY take to generate a six-figure income as a service
professional -- accountant, coach, consultant, and other
solopreneurs? Of course, the list is easy to read, but
takes conscious awareness and consistency to achieve.
What this list did for me -- it freed up valuable time that
I was chasing for what I could possibly need in the future,
it kept me focused, it increased clarity, and best of all I
was able to narrow down my reading time. I also had a plan.
Here's the list of what I consider the top 50 -- the list
was actually 350 -- but I chose the top ones and removed the
repetitions.
1. Get up early and start early.
2. Take time to reflect on the day every evening for at
least 30 to 60 minutes.
3. Create a vision before getting out of bed every morning
on how you see the day progressing. See clients coming to
you, see meetings going perfect, see your planning, etc.
4. Start and diligently use a business journal to record
ideas, thoughts, suggestions, and reading/learning.
5. Dress so that you feel comfortable and powerful with your
energy. It radiates and attracts.
6. Work more hours. (Don't shoot the messenger.)
7. Schedule your time.
8. Always ask yourself every night, "What can I do better
tomorrow from what I learned today?"
9. Complete a one-page SMART business plan with a
professional so that they can have an aerial view, because
you're too close, and because you are paying them, they have
an investment in your success.
10. Complete a one-page SMART marketing plan -- ditto the
above.
11. Complete a one-page SMART sales plan - ditto the above.
12. Complete a one-page SMART project plan - ditto the
above.
13. Complete a one-page SMART service product plan - ditto
the above.
14. Complete a one-page SMART product plan for every product
BEFORE starting.
15. Always know your BE point (break even point) for every
project/service/product you do.
16. Separate your learning time out from the time you think
you are marketing.
17. The best sales call hours and days are Tuesday -
Thursday between 10 am and 4 PM.
18. When you want to reach the business owner, try calling
them before 8 am or after 5 PM.
19. Passive revenue generation products are required.
20. Have a strong business support system.
21. Either be a writer or speaker to promote.
22. Become technically proficient at the software you use
(not expert, proficient).
23. Post to-do lists daily.
24. Monitor your time as if it's gold.
25. Have back up plans, alternative solutions, to
everything.
26. Learn to say no and say it quickly when it isn't
currently in your focus.
27. Have a twice-a-year planning vacation with yourself.
28. Outsource anything that can be completed by less hourly
than you.
29. Leverage all your resources as much as possible.
30. Drop networking groups if you aren't getting leads,
don't hang on.
31. Leave the volunteering alone until you have made the 6-
figures, people will not listen to you anyway until you are
making that level or more anyway.
32. Don't allow technology to steal your time.
33. Sleeping in.
34. Spending your energy talking about X instead of taking
action on it.
35. Write your goal dollar amount on the biggest piece of
paper you can find and take it to the wall in front of you
and ask this questions to every to-do on your list, How will
this make me that figure? Is it short-term, mid-term, or
long-term money generating project.
36. The percentage of time you spend on short-term projects
will determine how much money will arrive sooner.
Percentage of time = when the money comes in.
37. Keeping irregular office hours doesn't help.
38. You can grow only as big as the fish bowl you are
currently in. If you want to grow, move to a pond, then a
lake, and then an ocean. The fish will get bigger as you go
until you are the whale in the ocean.
39. Only read and learn what you need now, all else is a
waste because it will change to quickly by the time you need
it.
40. Work with a good coach, one with years of experience in
what you want to accomplish.
41. Become proficient at creating revenue-generating
products.
42. Have a system or process for everything.
43. Work with a Virtual Assistant as soon as possible, even
before you think you can afford to. In actuality, you can't
afford not to.
44. Create strategic alliances -- people that you are very
aware of what they do, how they do it, how good they are,
how you can send them referrals, you them yours, how you
work together on joint products to creating something that
is powerful and can't be found anywhere else.
45. It is a numbers game. If you want 10 new clients a
month, you have to speak to 100 to 300 prospects a month and
you have to have the means for doing this set up in a
process that works smoothly (otherwise overwhelm will be
your partner).
46. Set mind-boundaries. When you're working, your mind is
100% there, when you're home, 100% there. The more they
cross, productivity drops 50% or more.
47. Finish what you start -- always. Half finished to-dos
at the end of the day creates an energy debt that carries
into the night. The payment for this is very great. Don't
write on-going goals on your list. Create a to-do list that
only fits into the time you have for that day. The to-do
can be mini for a larger project (that is listed in the one-
page project plan mentioned earlier).
48. Create an R&D team for every project.
49. Don't buy anything unless you have use for it now. Be
in the now with your buying and not the "some day I'm sure
to use it."
50. Go on a 30-day information diet to reprogram your focus,
learn to listen and get in touch with your higher self and
knowledge, and to increase clarity of your life, business,
career, and self-path.
ABOUT AUTHOR: Tired of trying to figure out a business
or marketing plan that works? Now you can create a business,
marketing, sales, service, and product plan in a few hours
specific for your needs. Visit: http://www.abundancecenter.com
money that I know I can write a series of books on the
topic, books that would cut through the junk and you don't
have to buy 101 things for each area.
Most of the information repeats itself -- same author,
different title and packaging or different author repeating
someone else's list. All the how-this and how-that was
driving me crazy as to what is REALLY required to make
$100,000 or more in revenue.
A few months ago, I decided to go on a pilgrimage to create
a quick and easy-to-see, all-in-one-place list of what does
it REALLY take to generate a six-figure income as a service
professional -- accountant, coach, consultant, and other
solopreneurs? Of course, the list is easy to read, but
takes conscious awareness and consistency to achieve.
What this list did for me -- it freed up valuable time that
I was chasing for what I could possibly need in the future,
it kept me focused, it increased clarity, and best of all I
was able to narrow down my reading time. I also had a plan.
Here's the list of what I consider the top 50 -- the list
was actually 350 -- but I chose the top ones and removed the
repetitions.
1. Get up early and start early.
2. Take time to reflect on the day every evening for at
least 30 to 60 minutes.
3. Create a vision before getting out of bed every morning
on how you see the day progressing. See clients coming to
you, see meetings going perfect, see your planning, etc.
4. Start and diligently use a business journal to record
ideas, thoughts, suggestions, and reading/learning.
5. Dress so that you feel comfortable and powerful with your
energy. It radiates and attracts.
6. Work more hours. (Don't shoot the messenger.)
7. Schedule your time.
8. Always ask yourself every night, "What can I do better
tomorrow from what I learned today?"
9. Complete a one-page SMART business plan with a
professional so that they can have an aerial view, because
you're too close, and because you are paying them, they have
an investment in your success.
10. Complete a one-page SMART marketing plan -- ditto the
above.
11. Complete a one-page SMART sales plan - ditto the above.
12. Complete a one-page SMART project plan - ditto the
above.
13. Complete a one-page SMART service product plan - ditto
the above.
14. Complete a one-page SMART product plan for every product
BEFORE starting.
15. Always know your BE point (break even point) for every
project/service/product you do.
16. Separate your learning time out from the time you think
you are marketing.
17. The best sales call hours and days are Tuesday -
Thursday between 10 am and 4 PM.
18. When you want to reach the business owner, try calling
them before 8 am or after 5 PM.
19. Passive revenue generation products are required.
20. Have a strong business support system.
21. Either be a writer or speaker to promote.
22. Become technically proficient at the software you use
(not expert, proficient).
23. Post to-do lists daily.
24. Monitor your time as if it's gold.
25. Have back up plans, alternative solutions, to
everything.
26. Learn to say no and say it quickly when it isn't
currently in your focus.
27. Have a twice-a-year planning vacation with yourself.
28. Outsource anything that can be completed by less hourly
than you.
29. Leverage all your resources as much as possible.
30. Drop networking groups if you aren't getting leads,
don't hang on.
31. Leave the volunteering alone until you have made the 6-
figures, people will not listen to you anyway until you are
making that level or more anyway.
32. Don't allow technology to steal your time.
33. Sleeping in.
34. Spending your energy talking about X instead of taking
action on it.
35. Write your goal dollar amount on the biggest piece of
paper you can find and take it to the wall in front of you
and ask this questions to every to-do on your list, How will
this make me that figure? Is it short-term, mid-term, or
long-term money generating project.
36. The percentage of time you spend on short-term projects
will determine how much money will arrive sooner.
Percentage of time = when the money comes in.
37. Keeping irregular office hours doesn't help.
38. You can grow only as big as the fish bowl you are
currently in. If you want to grow, move to a pond, then a
lake, and then an ocean. The fish will get bigger as you go
until you are the whale in the ocean.
39. Only read and learn what you need now, all else is a
waste because it will change to quickly by the time you need
it.
40. Work with a good coach, one with years of experience in
what you want to accomplish.
41. Become proficient at creating revenue-generating
products.
42. Have a system or process for everything.
43. Work with a Virtual Assistant as soon as possible, even
before you think you can afford to. In actuality, you can't
afford not to.
44. Create strategic alliances -- people that you are very
aware of what they do, how they do it, how good they are,
how you can send them referrals, you them yours, how you
work together on joint products to creating something that
is powerful and can't be found anywhere else.
45. It is a numbers game. If you want 10 new clients a
month, you have to speak to 100 to 300 prospects a month and
you have to have the means for doing this set up in a
process that works smoothly (otherwise overwhelm will be
your partner).
46. Set mind-boundaries. When you're working, your mind is
100% there, when you're home, 100% there. The more they
cross, productivity drops 50% or more.
47. Finish what you start -- always. Half finished to-dos
at the end of the day creates an energy debt that carries
into the night. The payment for this is very great. Don't
write on-going goals on your list. Create a to-do list that
only fits into the time you have for that day. The to-do
can be mini for a larger project (that is listed in the one-
page project plan mentioned earlier).
48. Create an R&D team for every project.
49. Don't buy anything unless you have use for it now. Be
in the now with your buying and not the "some day I'm sure
to use it."
50. Go on a 30-day information diet to reprogram your focus,
learn to listen and get in touch with your higher self and
knowledge, and to increase clarity of your life, business,
career, and self-path.
ABOUT AUTHOR: Tired of trying to figure out a business
or marketing plan that works? Now you can create a business,
marketing, sales, service, and product plan in a few hours
specific for your needs. Visit: http://www.abundancecenter.com
Wednesday, September 23, 2009
Top 10 Marketing Pitfalls
Ten Marketing Pitfalls By Stuart Reid
If you want to make it BIG in Internet Marketing you need avoid some common mistakes. Here's a list of the top ten Pitfalls that catch out beginner Marketers (and many established ones too!).
The problem is you don't realise you have fallen into one of these holes until someone points it out. Marketers tend to be stubborn and suffer from tunnel vision - hopefully these may help you kick a few bad habits...
1. Procrastination
Putting things off is a killer where this career this is concerned. You NEED a plan and some kind of time management system in place. Prioritize your tasks and keep lists of everything that needs doing. And no matter how much you don't feel like doing something just get it out of the way and NEVER leave it untill the next day!
TIP: Use post-it notes. They are low-tech but work great :-)
2. Striving for Perfection
You'll likely never have a "perfect" website or product but you know what? It doesn't matter! It's important you get started as soon as you can and make your site "live". You can tweak things as you go along and improvements WILL come later - but if you try to get everything "right" before you start then you'll never start.
TIP: Update your site daily in little ways, it saves doing everything at once and the search-engines it too.
3. Wasting Money
This one is important. Especially if you don't have money to burn! Don't get caught up jumping from opportunity to opportunity or buying everything that lands in your inbox. You'll be surprised how much you can get for free. Trust me - you don't need half the stuff you see online. Try to control your emotions and think before you buy. Write a list of pros and cons, and make sure that the product or service is essential to YOU.
TIP: Look for reviews by people without a vested interest in the product and ask questions in forums.
4. Not Spending Enough
Unfortunately you have to spend a little. It won't be much starting out, but you will need more as you grow. For a start you'll need a domain, a host, an autoresponder - but these are pretty affordable these days. The bulk of your expenses will be on promotion, usually ezine ads or pay-per-click. If you're paying someone to create your product or you're buying resell rights then this is another expense (but you can start with free affiliate programs).
TIP: Keep your "Internet Income" separate and re-invest. You'll be glad you did later.
5. Wrong Markets
This is a tricky one. If you are dead set on conquering a certain market you could end up on a long and expensive journey that is doomed to failure. Do some research first. A so-called "niche" market is a good find but only if this niche will spend money! Other markets, like Internet Marketing, are very busy BUT Internet Marketers spend money - and the drive to make money is a strong human emotion. There's a lot of them around!
TIP: Find something that interests you and use a site like nichebot.com to see how many searches there are for that subject. High Traffic and Low Demand are your goal.
6. Lack of Growth
You must continuously grow yourself and expand your mind. Learning is essential. If you don't you'll be stuck with the same skills and ideas and you'll never even notice when you are bogged down in complacency and routine.
TIP: Put some time away each day to read a few articles and browse some sites. Learning just one new idea a day can increase your potential rapidly.
7. Doing It Alone
You can do it alone but it is harder, and without support you are more likely to fail. It doesn't have to be much. On-line forums, for example, are an amazing source of ideas and encouragement. And with other people, by forming Joint Ventures or starting your own affiliate program you can really leverage your efforts and do FAR MORE than you could ever do on your own.
TIP: Visit forums, messageboards and maillists. Lurk for a while until you're ready.
8. Going For The Small Money
You aint ever gonna get rich selling $20 items. Seriously, include some higher priced goods and services in your marketing. You'll get less sales, but more profits. You won't know if they sell until you try! But don't fall into the trap of selling any old thing because you get a high commission. Integrity is important, too.
TIP: High ticket sales work better with existing customers who you already have a relationship with. Try them as a back-end.
9. Separating Life and Work
One of the biggest pitfalls when working from home is the fact that life can enroach your activities - simply because you ARE at home. Try to separate the two and have fixed times when you work, and a set area to do it. Work doesn't have to take over your life, but neither should you let life interfere with your work.
TIP: Use a spare room or a spare corner and ONLY use it for work.
10. Be Ambitious
You won't know unless you try. Assume you can do *anything* - because you can! You may not be ready to do it yet, but don't set up mental blocks in advance. You can create your own profitable items, sell them well, and have others selling them for you. You can operate a range of websites, even host seminars, or teach others. YOU CAN.
TIP: Recognise excuses for what they are. If you need help, invest in a good self-help book.
I hope identifying these pitfalls help you look at yourself differently. Contrary to popular belief internet marketing is not an instant path to riches, but it is an achievable one.
You are free to use this article in any format without restrictions except the resource-box at the end MUST be included. Please use a live link if possible :-)
Also available in HTML at: http://www.netpreneurnow.com Available via email at: pitfalls@netpreneurnow.com
Stuart Reid publishes Netpreneur News and maintains NetpreneurNow.com and it's Members Site. To join at no cost and immediately gain access to a ton of valuable eBooks, Reports and Tools simply visit http://www.netpreneurnow.com
More articles: http://www.netpreneurnow.com/mini.shtml
If you want to make it BIG in Internet Marketing you need avoid some common mistakes. Here's a list of the top ten Pitfalls that catch out beginner Marketers (and many established ones too!).
The problem is you don't realise you have fallen into one of these holes until someone points it out. Marketers tend to be stubborn and suffer from tunnel vision - hopefully these may help you kick a few bad habits...
1. Procrastination
Putting things off is a killer where this career this is concerned. You NEED a plan and some kind of time management system in place. Prioritize your tasks and keep lists of everything that needs doing. And no matter how much you don't feel like doing something just get it out of the way and NEVER leave it untill the next day!
TIP: Use post-it notes. They are low-tech but work great :-)
2. Striving for Perfection
You'll likely never have a "perfect" website or product but you know what? It doesn't matter! It's important you get started as soon as you can and make your site "live". You can tweak things as you go along and improvements WILL come later - but if you try to get everything "right" before you start then you'll never start.
TIP: Update your site daily in little ways, it saves doing everything at once and the search-engines it too.
3. Wasting Money
This one is important. Especially if you don't have money to burn! Don't get caught up jumping from opportunity to opportunity or buying everything that lands in your inbox. You'll be surprised how much you can get for free. Trust me - you don't need half the stuff you see online. Try to control your emotions and think before you buy. Write a list of pros and cons, and make sure that the product or service is essential to YOU.
TIP: Look for reviews by people without a vested interest in the product and ask questions in forums.
4. Not Spending Enough
Unfortunately you have to spend a little. It won't be much starting out, but you will need more as you grow. For a start you'll need a domain, a host, an autoresponder - but these are pretty affordable these days. The bulk of your expenses will be on promotion, usually ezine ads or pay-per-click. If you're paying someone to create your product or you're buying resell rights then this is another expense (but you can start with free affiliate programs).
TIP: Keep your "Internet Income" separate and re-invest. You'll be glad you did later.
5. Wrong Markets
This is a tricky one. If you are dead set on conquering a certain market you could end up on a long and expensive journey that is doomed to failure. Do some research first. A so-called "niche" market is a good find but only if this niche will spend money! Other markets, like Internet Marketing, are very busy BUT Internet Marketers spend money - and the drive to make money is a strong human emotion. There's a lot of them around!
TIP: Find something that interests you and use a site like nichebot.com to see how many searches there are for that subject. High Traffic and Low Demand are your goal.
6. Lack of Growth
You must continuously grow yourself and expand your mind. Learning is essential. If you don't you'll be stuck with the same skills and ideas and you'll never even notice when you are bogged down in complacency and routine.
TIP: Put some time away each day to read a few articles and browse some sites. Learning just one new idea a day can increase your potential rapidly.
7. Doing It Alone
You can do it alone but it is harder, and without support you are more likely to fail. It doesn't have to be much. On-line forums, for example, are an amazing source of ideas and encouragement. And with other people, by forming Joint Ventures or starting your own affiliate program you can really leverage your efforts and do FAR MORE than you could ever do on your own.
TIP: Visit forums, messageboards and maillists. Lurk for a while until you're ready.
8. Going For The Small Money
You aint ever gonna get rich selling $20 items. Seriously, include some higher priced goods and services in your marketing. You'll get less sales, but more profits. You won't know if they sell until you try! But don't fall into the trap of selling any old thing because you get a high commission. Integrity is important, too.
TIP: High ticket sales work better with existing customers who you already have a relationship with. Try them as a back-end.
9. Separating Life and Work
One of the biggest pitfalls when working from home is the fact that life can enroach your activities - simply because you ARE at home. Try to separate the two and have fixed times when you work, and a set area to do it. Work doesn't have to take over your life, but neither should you let life interfere with your work.
TIP: Use a spare room or a spare corner and ONLY use it for work.
10. Be Ambitious
You won't know unless you try. Assume you can do *anything* - because you can! You may not be ready to do it yet, but don't set up mental blocks in advance. You can create your own profitable items, sell them well, and have others selling them for you. You can operate a range of websites, even host seminars, or teach others. YOU CAN.
TIP: Recognise excuses for what they are. If you need help, invest in a good self-help book.
I hope identifying these pitfalls help you look at yourself differently. Contrary to popular belief internet marketing is not an instant path to riches, but it is an achievable one.
You are free to use this article in any format without restrictions except the resource-box at the end MUST be included. Please use a live link if possible :-)
Also available in HTML at: http://www.netpreneurnow.com Available via email at: pitfalls@netpreneurnow.com
Stuart Reid publishes Netpreneur News and maintains NetpreneurNow.com and it's Members Site. To join at no cost and immediately gain access to a ton of valuable eBooks, Reports and Tools simply visit http://www.netpreneurnow.com
More articles: http://www.netpreneurnow.com/mini.shtml
Monday, September 21, 2009
Direct Mail
Do you have a website? A Web Newsletter? A mailing list of e-mail addresses for customers? Do you track and test everything? You can use the web to get sales in lots of exciting ways which are dependant on technology that's available at the time.
Whether you budget is Ј600 or Ј6000, I can show you how it's done effectively time after time after time!
So here's what I do when I start working with clients and I would like to offer it to you as a gift now. Have a look at this list of ten great ways of marketing. I guarantee, that nearly all web site owners will not have every one of these simple methods in place right now.
Please pick at least two that you're either not doing, or not doing that well - and MAKE A DECISION to add them to your marketing mix in the weeks ahead:
Direct Mail
Internet Marketing
Email Marketing
Advertising
Telephone Marketing
Direct Sales
Strategic Alliances
Referral Systems
PR
Additional Products/Services
We will tackle these in order
Direct Mail
Direct mail is often overused and badly done. It's got a bad reputation over the years, mainly due to spammers, used instead of the telephone or by con artists seeking their next victim.
There are a lot of myths and nonsense about mailings. You may want to print this out, because in my continuing efforts to help you reach success - I am about to share the secrets of direct mail - I'd be surprised if the contents of this mail does not save you thousands of pounds over the next 12 months.
By the way, if you are totally new to Direct Mail - "It's anything sent by post, sales letters, electronic mail or brochures etc"
I want to dispel some things about DM to you. "Direct Mail doesn't work" . This ingenious conclusion is arrived at by the fact that most people throw most of the mail we get directly in the bin - therefore the thinking is that it's a waste of money. The truth is that 90 out of 100 people might throw your mailing in the bin, but if 5 people look at it, 5 more read it and one of those 5 buys from you - you may well have a highly profitable mailing.
Last week I sent 400 emails to potential clients, and got 37 replies. That's to say that 37 people actually read my mail, and I got exactly 9 new clients as a result.
Now what would happen if I doubled my mailings next week? I could expect from 800 mails, about 80 replies and maybe 20 sales!
And that's easily doable by the way, because I've done it. But saying that, your mailing may not work - it depends on what you say, price involved and some products may just not be suited to an email campaign. It's very much a numbers game, but one thing is certain, email is free! You have to enter this knowing that most of your mailings will go unread, but at least it's cheaper than other advertising methods.
Large companies like Capital One, know their mailings DO work - they've spent a fortune fine tuning and testing these campaigns. But just to warn you - direct mail can fail, and they are the ones, usually, small to medium businesses send out, because they don't understand what they are really doing.
If it's done right, it will make your profits increase dramatically, and when it's done badly - it can eat into a budget, so be very careful!
There are 2 types of mailings:
Potential Customers
Existing Customers
If you don't do much mailing - start doing some now. It's easy to not email out of fear of upsetting clients, scared of bombarding them with too many mails, thus losing a sale.
That's crazy and it's to nobodys advantage.
Actually, most sales emails are helpful and quite genuine. I was once told "You've got to be mad to not listen to a salesman - they might have something you need!" So next time you receive a mail or telesales call, consider that it could well be in your favour.
And there really is nothing wrong with sending out 2 mails each week.. So don't worry.
I have noticed that many clients are sitting with 1000's of email addresses - yet they aren't contacting these clients. That's like throwing money down the drain. They could say NO, then again they could say YES to your product. Imagine if a further 10 bought your services next week - how do you feel about not emailing those customers now?
Try it today?.. Think of something you can offer these customers, you must have something you can offer! Even something for free. Send them a letter and measure the response. If it works, mail them and measure the results. If it keeps on working, keep on doing it!
The best email is a personal communication with a customer you know. It may read as follows:
Dear
I wanted to follow up after your purchase of (your product) on (date) to see how it's working out for you and to thank you for your continuing business. If you have any questions or concerns, please let me know by return email, or feel free to call my private phone number.
Many Thanks
Regards
Mr X
Your customer is going to open, read and appreciate an email like this. They may even respond to it, and even if they don't, it doesn't look like spam or bug anyone. And they probably will appreciate that.
Give it a go - you'll be surprised.
Regards
Christopher Given
www.busigen.com
Christopher is a Sales Promotion Expert and owner of Busigen.com - an Office directory portal that holds company information to do with an Office environment.
Whether you budget is Ј600 or Ј6000, I can show you how it's done effectively time after time after time!
So here's what I do when I start working with clients and I would like to offer it to you as a gift now. Have a look at this list of ten great ways of marketing. I guarantee, that nearly all web site owners will not have every one of these simple methods in place right now.
Please pick at least two that you're either not doing, or not doing that well - and MAKE A DECISION to add them to your marketing mix in the weeks ahead:
Direct Mail
Internet Marketing
Email Marketing
Advertising
Telephone Marketing
Direct Sales
Strategic Alliances
Referral Systems
PR
Additional Products/Services
We will tackle these in order
Direct Mail
Direct mail is often overused and badly done. It's got a bad reputation over the years, mainly due to spammers, used instead of the telephone or by con artists seeking their next victim.
There are a lot of myths and nonsense about mailings. You may want to print this out, because in my continuing efforts to help you reach success - I am about to share the secrets of direct mail - I'd be surprised if the contents of this mail does not save you thousands of pounds over the next 12 months.
By the way, if you are totally new to Direct Mail - "It's anything sent by post, sales letters, electronic mail or brochures etc"
I want to dispel some things about DM to you. "Direct Mail doesn't work" . This ingenious conclusion is arrived at by the fact that most people throw most of the mail we get directly in the bin - therefore the thinking is that it's a waste of money. The truth is that 90 out of 100 people might throw your mailing in the bin, but if 5 people look at it, 5 more read it and one of those 5 buys from you - you may well have a highly profitable mailing.
Last week I sent 400 emails to potential clients, and got 37 replies. That's to say that 37 people actually read my mail, and I got exactly 9 new clients as a result.
Now what would happen if I doubled my mailings next week? I could expect from 800 mails, about 80 replies and maybe 20 sales!
And that's easily doable by the way, because I've done it. But saying that, your mailing may not work - it depends on what you say, price involved and some products may just not be suited to an email campaign. It's very much a numbers game, but one thing is certain, email is free! You have to enter this knowing that most of your mailings will go unread, but at least it's cheaper than other advertising methods.
Large companies like Capital One, know their mailings DO work - they've spent a fortune fine tuning and testing these campaigns. But just to warn you - direct mail can fail, and they are the ones, usually, small to medium businesses send out, because they don't understand what they are really doing.
If it's done right, it will make your profits increase dramatically, and when it's done badly - it can eat into a budget, so be very careful!
There are 2 types of mailings:
Potential Customers
Existing Customers
If you don't do much mailing - start doing some now. It's easy to not email out of fear of upsetting clients, scared of bombarding them with too many mails, thus losing a sale.
That's crazy and it's to nobodys advantage.
Actually, most sales emails are helpful and quite genuine. I was once told "You've got to be mad to not listen to a salesman - they might have something you need!" So next time you receive a mail or telesales call, consider that it could well be in your favour.
And there really is nothing wrong with sending out 2 mails each week.. So don't worry.
I have noticed that many clients are sitting with 1000's of email addresses - yet they aren't contacting these clients. That's like throwing money down the drain. They could say NO, then again they could say YES to your product. Imagine if a further 10 bought your services next week - how do you feel about not emailing those customers now?
Try it today?.. Think of something you can offer these customers, you must have something you can offer! Even something for free. Send them a letter and measure the response. If it works, mail them and measure the results. If it keeps on working, keep on doing it!
The best email is a personal communication with a customer you know. It may read as follows:
Dear
I wanted to follow up after your purchase of (your product) on (date) to see how it's working out for you and to thank you for your continuing business. If you have any questions or concerns, please let me know by return email, or feel free to call my private phone number.
Many Thanks
Regards
Mr X
Your customer is going to open, read and appreciate an email like this. They may even respond to it, and even if they don't, it doesn't look like spam or bug anyone. And they probably will appreciate that.
Give it a go - you'll be surprised.
Regards
Christopher Given
www.busigen.com
Christopher is a Sales Promotion Expert and owner of Busigen.com - an Office directory portal that holds company information to do with an Office environment.
Thursday, September 17, 2009
Turning The Casual Scanner Into A Buyer
The world is full of scanners. Most people simply scan the page to see if anything piques their interest, rather than reading the ads, sales letters, or web copy. That's why you should ensure that your copy is scanner friendly. That means placing headlines, subheads, and other devices throughout your copy that's compelling enough to sell your customers on your business.
How can you turn the casual scanner into an active reader? More importantly, how can we turn a scanner into a buyer? First, ensure that your headlines can stand alone, without the support of other sentences. For most, that means getting rid of those one-word headlines. Headlines should include the benefit of your offering, evoke curiosity, or compel the scanner to read the main copy.
Don't forget the subheads. They also should be compelling, preferably complementing the headline, giving enough power to nudge your reader from scanning to reading mode. Keep in mind good subheads support the main promise of your copy. If your headline, for example, promises to help your customers lose weight, your subheads could briefly explain that your product is clinically proven or has a secret ingredient. Subheads are also a great place to introduce your offers.
Another way to be a scanner's friend is to use short paragraphs. Rule of thumb: Keep paragraphs between 3 to 5 sentences. If you must use a long sentence, place a short snappy paragraph after it.
The most popular way to generate interest: Use underlines, boldface, highlights, and italics throughout your copy, carefully. Too much can leave your customers overwhelmed and likely to stop scanning and move on. When using these tools remember, the purpose is to emphasize certain points.
Some ideas on what you should highlight in your copy:
* Call-to-actions phrases, like buy now, subscribe here, or receive your special offer today.
* Contact information, including toll-free numbers, emails, and web-sites.
* Major benefits supporting the promise of your copy
* Your rates and fees and how they compete
* Your business or product's name.
Adding a second color to your copy boosts retention and readability. Especially, when using a medium that's typically black and white like newspapers. What colors are best? Typically, the most used and most effective colors are red and blue. Try placing offers or premiums in different colors to emphasize and pull your customers in.
P.S. Don't forget the P.S. An important aspect, most readers read the end, first. It's a great spot to recap your offer and restate your benefits. This may also be a good spot to add a bonus, premium, or guarantee
Vanessa Selene Williams is an independent writer who writes for businesses. To learn more about her and her services visit her online at http://corp.vswilliams.com or email her at info@vswilliams.com.
How can you turn the casual scanner into an active reader? More importantly, how can we turn a scanner into a buyer? First, ensure that your headlines can stand alone, without the support of other sentences. For most, that means getting rid of those one-word headlines. Headlines should include the benefit of your offering, evoke curiosity, or compel the scanner to read the main copy.
Don't forget the subheads. They also should be compelling, preferably complementing the headline, giving enough power to nudge your reader from scanning to reading mode. Keep in mind good subheads support the main promise of your copy. If your headline, for example, promises to help your customers lose weight, your subheads could briefly explain that your product is clinically proven or has a secret ingredient. Subheads are also a great place to introduce your offers.
Another way to be a scanner's friend is to use short paragraphs. Rule of thumb: Keep paragraphs between 3 to 5 sentences. If you must use a long sentence, place a short snappy paragraph after it.
The most popular way to generate interest: Use underlines, boldface, highlights, and italics throughout your copy, carefully. Too much can leave your customers overwhelmed and likely to stop scanning and move on. When using these tools remember, the purpose is to emphasize certain points.
Some ideas on what you should highlight in your copy:
* Call-to-actions phrases, like buy now, subscribe here, or receive your special offer today.
* Contact information, including toll-free numbers, emails, and web-sites.
* Major benefits supporting the promise of your copy
* Your rates and fees and how they compete
* Your business or product's name.
Adding a second color to your copy boosts retention and readability. Especially, when using a medium that's typically black and white like newspapers. What colors are best? Typically, the most used and most effective colors are red and blue. Try placing offers or premiums in different colors to emphasize and pull your customers in.
P.S. Don't forget the P.S. An important aspect, most readers read the end, first. It's a great spot to recap your offer and restate your benefits. This may also be a good spot to add a bonus, premium, or guarantee
Vanessa Selene Williams is an independent writer who writes for businesses. To learn more about her and her services visit her online at http://corp.vswilliams.com or email her at info@vswilliams.com.
Wednesday, September 16, 2009
Five Mistakes Absolutely Guaranteed to Drive Away Your Best Clients
We all work hard to attract even one paying client. In fact, we work hard to attract serious inquiries. Yet amazingly, many business owners seem determined to drive away business! Every example cited here is based on true, thoroughly documented experiences, with both newbie business owners and five-star marquee players.
1. Defensive plays. Client tries to order a product, only to be thoroughly buffaloed by a confusing form. Client writes a complaint, expressing frustration. The business owner writes back, "I have written five best-selling books on customer service, so I know what's reasonable. Nobody else has complained. And we can't do anything anyway."
A twenty-five dollar CD isn't a big deal, right? But you probably make these offers to entice big-ticket clients. And if they're testing the waters, they want to see how you operate.
Better: Skip excuses and accept responsibility, even if your client seems to be a complete techno-idiot. He's paying, right? "I am so sorry you were inconvenienced when you attempted to order from us. Thank you for making us aware of this problem. We will discuss the situation with our web designers in our next meeting. Meanwhile, please download a complimentary Special Report on a related topic."
2. Stealing home with disguised sales pitches. Clients sign up for a teleclass hyped as "Secrets of helping you make thousands of dollars with low effort. A content-rich teleclass that will change your life." After dialing to the other end of the planet, and maybe paying a fee, they hear an hour-long sales pitch for a book, coaching program or four-figure seminar.
Better: Nothing wrong with a brief sales pitch. But if you're adding value during the class, you may not need one! Prospective clients listen to the way you answer questions. They want to see if you're really delivering creative solutions or serving up recycled content that's about as tempting than soggy fries reheated in a microwave.
3. Throwing a curve ball. You're supposed to throw curves to your opponents - not your teammates. And your clients ultimately join your team. So why would you toss a teammate a curveball?
Throwing a curve ball means offering the client a service he had no reason to expect - and probably never wanted. Client wants a marketing plan - so you ask about negative thoughts, fears and self-defeating beliefs. Client wants a sales strategy - so you ask a lot of "what do you think" questions and talk about accountability.
Clarify outcomes and deliverables the client can expect to obtain. Be especially clear on the difference between consulting, coaching, mentoring and spiritual guidance. Expecting one and getting another can feel like a ball's landed right between your eyes.
4. Holding out your foot to trip the runner. Ouch! You'd never do this, I hope!
"I sent Coach Elrod a draft of my website copy to see if I was on the right track. He told me he would charge my credit card an extra $35 for editing. When I said no, he shrugged and said he'd keep the editing to himself. I never asked for editing! I just wanted a quick overview - I was still drafting copy. "
Better: This one's a no-brainer! Ask what the client wants. Warn about charges ahead of time. . And once he blundered ahead, refusing to show the client the edited work suggests that he and the client are opponents, not teammates.
This is a true story. Up to then, Elrod's client thought Elrod walked on water. Never mind who generated the misunderstanding. That thirty-five dollars cost Elrod the client's goodwill, future coaching calls and countless referrals. And let's hope Elrod didn't go ahead and put the charge through. We don't want to go there.
5. Getting the players mixed up.
When clients pay for one-on-one consultation, they expect you to remember their names, their positions and their quirks.
"X kept talking about building my confidence. Confidence isn't my problem. If I were any more confident, I'd be more arrogant than Don Rickles." "Y suggested I complete an assignment before our next meeting. When we got together, she'd forgotten the whole thing." "Z kept referring to 'your experience in advertising.' I never worked in advertising! That must have been another client!"
Better: When you can't keep your clients straight, you need fewer clients or a better filing system. And just because most of your clients have confidence problems, this one doesn't mean this client does!
Bottom line: We could come up with dozens of examples of client-killing errors. The bad news is that mistakes are inevitable, simply by the nature of service delivery. The good news is that correcting a mistake can create a new bond with your client, firmer and longer-lasting than the original.
Example: When you miss the mark on a call, you can say: "Thanks for sharing your feelngs so honestly. I want to give you real value. We can schedule a make-up to focus on whatever you need." The make-up might be only half an hour, rather than the original full hour. The client may even say, "Don't bother - I expect an occasional mismatch."
But you'll earn enormous goodwill for making the effort. Focus on recovery and you'll win loyalty every time.
This article is based on "Delight your clients and keep more of their money" http://www.cathygoodwin.com/custsvc.html
************************************************************ Cathy Goodwin, Ph.D., wrote Making the Big Move (New Harbinger 1999). She works with professionals who are tossing and turning over a career decision and need a coach to help them brainstorm a solution.
Website: http://www.cathygoodwin.com Your Next Move Ezine: http://www.cathygoodwin.com/subscribe.html or mailto:cathy@cathygoodwin.com with "YNM" in subject line. Contact: mailto:cathy@cathygoodwin.com 505-534-4294
1. Defensive plays. Client tries to order a product, only to be thoroughly buffaloed by a confusing form. Client writes a complaint, expressing frustration. The business owner writes back, "I have written five best-selling books on customer service, so I know what's reasonable. Nobody else has complained. And we can't do anything anyway."
A twenty-five dollar CD isn't a big deal, right? But you probably make these offers to entice big-ticket clients. And if they're testing the waters, they want to see how you operate.
Better: Skip excuses and accept responsibility, even if your client seems to be a complete techno-idiot. He's paying, right? "I am so sorry you were inconvenienced when you attempted to order from us. Thank you for making us aware of this problem. We will discuss the situation with our web designers in our next meeting. Meanwhile, please download a complimentary Special Report on a related topic."
2. Stealing home with disguised sales pitches. Clients sign up for a teleclass hyped as "Secrets of helping you make thousands of dollars with low effort. A content-rich teleclass that will change your life." After dialing to the other end of the planet, and maybe paying a fee, they hear an hour-long sales pitch for a book, coaching program or four-figure seminar.
Better: Nothing wrong with a brief sales pitch. But if you're adding value during the class, you may not need one! Prospective clients listen to the way you answer questions. They want to see if you're really delivering creative solutions or serving up recycled content that's about as tempting than soggy fries reheated in a microwave.
3. Throwing a curve ball. You're supposed to throw curves to your opponents - not your teammates. And your clients ultimately join your team. So why would you toss a teammate a curveball?
Throwing a curve ball means offering the client a service he had no reason to expect - and probably never wanted. Client wants a marketing plan - so you ask about negative thoughts, fears and self-defeating beliefs. Client wants a sales strategy - so you ask a lot of "what do you think" questions and talk about accountability.
Clarify outcomes and deliverables the client can expect to obtain. Be especially clear on the difference between consulting, coaching, mentoring and spiritual guidance. Expecting one and getting another can feel like a ball's landed right between your eyes.
4. Holding out your foot to trip the runner. Ouch! You'd never do this, I hope!
"I sent Coach Elrod a draft of my website copy to see if I was on the right track. He told me he would charge my credit card an extra $35 for editing. When I said no, he shrugged and said he'd keep the editing to himself. I never asked for editing! I just wanted a quick overview - I was still drafting copy. "
Better: This one's a no-brainer! Ask what the client wants. Warn about charges ahead of time. . And once he blundered ahead, refusing to show the client the edited work suggests that he and the client are opponents, not teammates.
This is a true story. Up to then, Elrod's client thought Elrod walked on water. Never mind who generated the misunderstanding. That thirty-five dollars cost Elrod the client's goodwill, future coaching calls and countless referrals. And let's hope Elrod didn't go ahead and put the charge through. We don't want to go there.
5. Getting the players mixed up.
When clients pay for one-on-one consultation, they expect you to remember their names, their positions and their quirks.
"X kept talking about building my confidence. Confidence isn't my problem. If I were any more confident, I'd be more arrogant than Don Rickles." "Y suggested I complete an assignment before our next meeting. When we got together, she'd forgotten the whole thing." "Z kept referring to 'your experience in advertising.' I never worked in advertising! That must have been another client!"
Better: When you can't keep your clients straight, you need fewer clients or a better filing system. And just because most of your clients have confidence problems, this one doesn't mean this client does!
Bottom line: We could come up with dozens of examples of client-killing errors. The bad news is that mistakes are inevitable, simply by the nature of service delivery. The good news is that correcting a mistake can create a new bond with your client, firmer and longer-lasting than the original.
Example: When you miss the mark on a call, you can say: "Thanks for sharing your feelngs so honestly. I want to give you real value. We can schedule a make-up to focus on whatever you need." The make-up might be only half an hour, rather than the original full hour. The client may even say, "Don't bother - I expect an occasional mismatch."
But you'll earn enormous goodwill for making the effort. Focus on recovery and you'll win loyalty every time.
This article is based on "Delight your clients and keep more of their money" http://www.cathygoodwin.com/custsvc.html
************************************************************ Cathy Goodwin, Ph.D., wrote Making the Big Move (New Harbinger 1999). She works with professionals who are tossing and turning over a career decision and need a coach to help them brainstorm a solution.
Website: http://www.cathygoodwin.com Your Next Move Ezine: http://www.cathygoodwin.com/subscribe.html or mailto:cathy@cathygoodwin.com with "YNM" in subject line. Contact: mailto:cathy@cathygoodwin.com 505-534-4294
Tuesday, September 15, 2009
Write Articles WITHOUT Writing!
Face it, writing any article can be a tedious and time consuming task for a beginner or even an expert writer. Here are four ways to make writing articles a lot easier: 1) Use My Articles - You could add your own name,
resource box and web site link to 199 of my prewritten
articles. You can even rewrite them if you want. Just
allow other people to republish them. For details visit:
http://www.ldpublishing.com/viralarticletoolkit.html 2) Interview An Expert - You could interview an expert
in exchange for free publicity. Just ask them questions.
It could be about their personal and/or professional life.
You want the interview to be long enough to create an
article. 3) Excerpts Of Information - You could ask a writer or
publisher to use excerpts of their information to create
an article in exchange for giving them free publicity.
You both could share the resource box of the article. 4) Hire A Ghostwriter - You could hire a ghostwriter to
write an article for you. They would write it and you
could add your name as the author, a resource box
and your web site link.
----
Write Articles WITHOUT WRITING - Add your name,
small ad and web site link to 199 prewritten, rewritable
ezine articles! Just allow other ezine publishers and
webmasters to republish them! It's that easy! Just visit:
http://www.ldpublishing.com/viralarticletoolkit.html
resource box and web site link to 199 of my prewritten
articles. You can even rewrite them if you want. Just
allow other people to republish them. For details visit:
http://www.ldpublishing.com/viralarticletoolkit.html 2) Interview An Expert - You could interview an expert
in exchange for free publicity. Just ask them questions.
It could be about their personal and/or professional life.
You want the interview to be long enough to create an
article. 3) Excerpts Of Information - You could ask a writer or
publisher to use excerpts of their information to create
an article in exchange for giving them free publicity.
You both could share the resource box of the article. 4) Hire A Ghostwriter - You could hire a ghostwriter to
write an article for you. They would write it and you
could add your name as the author, a resource box
and your web site link.
----
Write Articles WITHOUT WRITING - Add your name,
small ad and web site link to 199 prewritten, rewritable
ezine articles! Just allow other ezine publishers and
webmasters to republish them! It's that easy! Just visit:
http://www.ldpublishing.com/viralarticletoolkit.html
Monday, September 14, 2009
Customer Lifetime Value - The Key To Maximizing Your Profits!
The greatest asset to your business is your Customer, specifically, your Customer Lifetime Value.
In my many years in Sales and Marketing, I've met many CEOs and business owners who don't have much clue as to what Customer Lifetime Value is, much less its importance and the impact it has on their bottomline. To most of them, what matters most is to increase revenue by continuously acquiring new one-shot customers.
This is one of the fatal mistakes that many business owners make; it's a sad scenario, but it's also the reality. Let me tell you something: it'll cost you 5 times more to attract a new customer than it is to bring one of your past customers back to you.
I don't know you personally, but if you're a smart business owner, you'll understand that every cent you invest in advertising is going towards acquiring new customers. You'll also realise that once you've acquired the customers, you just can't afford to let them go.
----------------------------------
So what's Customer Lifetime Value?
----------------------------------
Customer Lifetime Value is defined as the total value, in monetary terms, of your average customers spanning the entire period that these customers are likely to do business with you. It's the potential contribution of your customers to your business over a period of time.
Here's how to calculate your Customer Lifetime Value:
1). Let's say you've 2,000 steady customers and these customers remain with you for an average of two years; for the past two years, your net profit was $700,000.
The Customer Lifetime Value can be calculated as: $700,000/2,000 = $350.
What this means is that over an average customer lifespan of two years, each new customer you could acquire and keep is worth $350 to you in profits.
2). If you do not have the actual figures, you'll have to estimate. As the Customer Lifetime Value will have a significant impact on your bottomline, my advice is that you be prudent and conservative in your estimation.
----------------------------
Why is it so important to you and your business?
----------------------------
Lifetime Customer Value is important to you and your business for the following reasons:
1). Knowing the Lifetime Value of your customers is crucial to you and your business as it serves as a benchmark without which you'll be groping in the dark.
When you know the Lifetime Value of your customers, you can determine how much time, effort and money you can afford to invest to acquire that customer in the first instance.
In other words, you can invest more today to reap a much larger profits later down the road as long as your cashflow is healthy and can support it.
Every marketing campaign that you undertake costs you money as well as reaping you benefits such as increased sales, enhanced corporate image, etc. But how can you be sure that the benefits would outweigh the costs or investments? This is where knowing the Customer Lifetime Value is so powerful - it helps you to determine this even before you launch your marketing campaign.
2). When you realize that customers are actually an ongoing stream of revenue as opposed to a one-shot sale, you can re-focus your marketing efforts.
Instead of contantly struggling to acquire more and more new customers, you can now begin to focus on keeping your existing customers longer and selling to them repeatedly, in other words, repeat sales.
You may spend more like making stronger and more attractive offers than your competition in acquiring new customers now who will be your money spinners tomorrow.
This makes sense because you now know that on average you'll more than make it back over the years that the customers are with you and therefore you could afford to break even or even lose money now in acquiring the new customers.
Start shifting your focus to Customer Lifetime Value and maximise your profits today!
Start to have a proper understanding of Customer Lifetime Value because it's key to the success of your business. It'll allow you to acquire more customers than your competition through better and more attractive offers; it'll dramatically increase your bottomline through more repeat sales and shoot your profits through the roof.
About the Author
Copyright 2004 by Larry Lim, MarketingSphere.com
Larry Lim is a practising marketing strategist and tactician who dishes out highly effective marketing strategies and tactics that will enable you to successfully start and grow your business on the Internet.
Check out his Internet Marketing Strategy website that is jam-packed with internet marketing secrets and softwares that will skyrocket your sales, and shoot your profits through the roof.
In my many years in Sales and Marketing, I've met many CEOs and business owners who don't have much clue as to what Customer Lifetime Value is, much less its importance and the impact it has on their bottomline. To most of them, what matters most is to increase revenue by continuously acquiring new one-shot customers.
This is one of the fatal mistakes that many business owners make; it's a sad scenario, but it's also the reality. Let me tell you something: it'll cost you 5 times more to attract a new customer than it is to bring one of your past customers back to you.
I don't know you personally, but if you're a smart business owner, you'll understand that every cent you invest in advertising is going towards acquiring new customers. You'll also realise that once you've acquired the customers, you just can't afford to let them go.
----------------------------------
So what's Customer Lifetime Value?
----------------------------------
Customer Lifetime Value is defined as the total value, in monetary terms, of your average customers spanning the entire period that these customers are likely to do business with you. It's the potential contribution of your customers to your business over a period of time.
Here's how to calculate your Customer Lifetime Value:
1). Let's say you've 2,000 steady customers and these customers remain with you for an average of two years; for the past two years, your net profit was $700,000.
The Customer Lifetime Value can be calculated as: $700,000/2,000 = $350.
What this means is that over an average customer lifespan of two years, each new customer you could acquire and keep is worth $350 to you in profits.
2). If you do not have the actual figures, you'll have to estimate. As the Customer Lifetime Value will have a significant impact on your bottomline, my advice is that you be prudent and conservative in your estimation.
----------------------------
Why is it so important to you and your business?
----------------------------
Lifetime Customer Value is important to you and your business for the following reasons:
1). Knowing the Lifetime Value of your customers is crucial to you and your business as it serves as a benchmark without which you'll be groping in the dark.
When you know the Lifetime Value of your customers, you can determine how much time, effort and money you can afford to invest to acquire that customer in the first instance.
In other words, you can invest more today to reap a much larger profits later down the road as long as your cashflow is healthy and can support it.
Every marketing campaign that you undertake costs you money as well as reaping you benefits such as increased sales, enhanced corporate image, etc. But how can you be sure that the benefits would outweigh the costs or investments? This is where knowing the Customer Lifetime Value is so powerful - it helps you to determine this even before you launch your marketing campaign.
2). When you realize that customers are actually an ongoing stream of revenue as opposed to a one-shot sale, you can re-focus your marketing efforts.
Instead of contantly struggling to acquire more and more new customers, you can now begin to focus on keeping your existing customers longer and selling to them repeatedly, in other words, repeat sales.
You may spend more like making stronger and more attractive offers than your competition in acquiring new customers now who will be your money spinners tomorrow.
This makes sense because you now know that on average you'll more than make it back over the years that the customers are with you and therefore you could afford to break even or even lose money now in acquiring the new customers.
Start shifting your focus to Customer Lifetime Value and maximise your profits today!
Start to have a proper understanding of Customer Lifetime Value because it's key to the success of your business. It'll allow you to acquire more customers than your competition through better and more attractive offers; it'll dramatically increase your bottomline through more repeat sales and shoot your profits through the roof.
About the Author
Copyright 2004 by Larry Lim, MarketingSphere.com
Larry Lim is a practising marketing strategist and tactician who dishes out highly effective marketing strategies and tactics that will enable you to successfully start and grow your business on the Internet.
Check out his Internet Marketing Strategy website that is jam-packed with internet marketing secrets and softwares that will skyrocket your sales, and shoot your profits through the roof.
Sunday, September 13, 2009
10 Powerful Marketing Tips
1. Print your best small ad on a postcard and mail it to prospects in your targeted market. People read postcards when the message is brief. A small ad on a postcard can drive a high volume of traffic to your web site and generate a flood of sales leads for a very small cost.
2. No single marketing effort works all the time for every business, so rotate several marketing tactics and vary your approach. Your customers tune out after awhile if you toot only one note. Not only that, YOU get bored. Marketing can be fun, so take advantage of the thousands of opportunities available for communicating your value to customers. But don't be arbitrary about your selection of a variety of marketing ploys. Plan carefully. Get feedback from customers and adapt your efforts accordingly.
3. Use buddy marketing to promote your business. For example, if you send out brochures, you could include a leaflet and/or business card of another business, which had agreed to do the same for you. This gives you the chance to reach a whole new pool of potential customers.
4. Answer Your Phone Differently. Try announcing a special offer when you answer the phone. For example you could say, "Good morning, this is Ann Marie with Check It Out; ask me about my special marketing offer." The caller is compelled to ask about the offer. Sure, many companies have recorded messages that play when you're tied up in a queue, but who do you know that has a live message? I certainly haven't heard of anyone. Make sure your offer is aggressive and increase your caller's urgency by including a not-so-distant expiration date.
5. Stick It! Use stickers, stamps and handwritten notes on all of your direct mail efforts and day-to-day business mail. Remember, when you put a sticker or handwritten message on the outside of an envelope, it has the impact of a miniature billboard. People read it first; however, the message should be short and concise so it can be read in less than 10 seconds.
6. Send A Second Offer To Your Customers Immediately After They've Purchased Your customer just purchased a sweater from your clothing shop. Send a handwritten note to your customer thanking them for their business and informing them that upon their return with "this note" they may take advantage of a private offer, such as 20% off their next purchase. To create urgency, remember to include an expiration date.
7. Newsletters. Did you know it costs six times more to make a sale to a new customer than to an existing one? You can use newsletters to focus your marketing on past customers. Keep costs down by sacrificing frequency and high production values. If printed newsletters are too expensive, consider an e-mail newsletter sent to people who subscribe at your Web site.
8. Seminars/ open house. Hosting an event is a great way to gain face time with key customers and prospects as well as get your company name circulating. With the right programming, you'll be rewarded with a nice turnout and media coverage. If it's a seminar, limit the attendance and charge a fee. A fee gives the impression of value. Free often connotes, whether intended or not, that attendees will have to endure a sales pitch.
9. Bartering. This is an excellent tool to promote your business and get others to use your product and services. You can trade your product for advertising space or for another company's product or service. This is especially helpful when two companies on limited budgets can exchange their services.
10. Mail Outs. Enclose your brochure, ad, flyer etc. in all your outgoing mail. It doesn't cost any additional postage and you'll be surprised at who could use what you're offering.
To learn more Powerful Marketing Tips order the full "Powerful Marketing Tips" report for only $9.00! Contact Check it Out at (772) 335-0073 or visit www.checkitoutinc.com.
Ann Marie Rubertone is a marketing consultant & freelance writer. Her two newest booklets, "The One Page Marketing Plan" and "13 Household Items You Can Use To Market Your Business" tips for marketing on a shoestring budget that can make the difference between success and failure. Check It Out is a customer-driven marketing firm providing design, writing, editing, desktop publishing services, and hands-on marketing workshops for independent professionals and small businesses. For more information, contact Ann Marie Rubertone, Check It Out (772) 335-0073, Port St. Lucie, FL www.checkitoutinc.com cio@adelphia.net
2. No single marketing effort works all the time for every business, so rotate several marketing tactics and vary your approach. Your customers tune out after awhile if you toot only one note. Not only that, YOU get bored. Marketing can be fun, so take advantage of the thousands of opportunities available for communicating your value to customers. But don't be arbitrary about your selection of a variety of marketing ploys. Plan carefully. Get feedback from customers and adapt your efforts accordingly.
3. Use buddy marketing to promote your business. For example, if you send out brochures, you could include a leaflet and/or business card of another business, which had agreed to do the same for you. This gives you the chance to reach a whole new pool of potential customers.
4. Answer Your Phone Differently. Try announcing a special offer when you answer the phone. For example you could say, "Good morning, this is Ann Marie with Check It Out; ask me about my special marketing offer." The caller is compelled to ask about the offer. Sure, many companies have recorded messages that play when you're tied up in a queue, but who do you know that has a live message? I certainly haven't heard of anyone. Make sure your offer is aggressive and increase your caller's urgency by including a not-so-distant expiration date.
5. Stick It! Use stickers, stamps and handwritten notes on all of your direct mail efforts and day-to-day business mail. Remember, when you put a sticker or handwritten message on the outside of an envelope, it has the impact of a miniature billboard. People read it first; however, the message should be short and concise so it can be read in less than 10 seconds.
6. Send A Second Offer To Your Customers Immediately After They've Purchased Your customer just purchased a sweater from your clothing shop. Send a handwritten note to your customer thanking them for their business and informing them that upon their return with "this note" they may take advantage of a private offer, such as 20% off their next purchase. To create urgency, remember to include an expiration date.
7. Newsletters. Did you know it costs six times more to make a sale to a new customer than to an existing one? You can use newsletters to focus your marketing on past customers. Keep costs down by sacrificing frequency and high production values. If printed newsletters are too expensive, consider an e-mail newsletter sent to people who subscribe at your Web site.
8. Seminars/ open house. Hosting an event is a great way to gain face time with key customers and prospects as well as get your company name circulating. With the right programming, you'll be rewarded with a nice turnout and media coverage. If it's a seminar, limit the attendance and charge a fee. A fee gives the impression of value. Free often connotes, whether intended or not, that attendees will have to endure a sales pitch.
9. Bartering. This is an excellent tool to promote your business and get others to use your product and services. You can trade your product for advertising space or for another company's product or service. This is especially helpful when two companies on limited budgets can exchange their services.
10. Mail Outs. Enclose your brochure, ad, flyer etc. in all your outgoing mail. It doesn't cost any additional postage and you'll be surprised at who could use what you're offering.
To learn more Powerful Marketing Tips order the full "Powerful Marketing Tips" report for only $9.00! Contact Check it Out at (772) 335-0073 or visit www.checkitoutinc.com.
Ann Marie Rubertone is a marketing consultant & freelance writer. Her two newest booklets, "The One Page Marketing Plan" and "13 Household Items You Can Use To Market Your Business" tips for marketing on a shoestring budget that can make the difference between success and failure. Check It Out is a customer-driven marketing firm providing design, writing, editing, desktop publishing services, and hands-on marketing workshops for independent professionals and small businesses. For more information, contact Ann Marie Rubertone, Check It Out (772) 335-0073, Port St. Lucie, FL www.checkitoutinc.com cio@adelphia.net
Marketing on a Budget
A successful marketing plan doesn't have to include an athletic superstar, prime-time placement, state-of-the-art computer graphics or a massive budget. Being resourceful and smart can be just as effective.
Business promotion doesn't have to cost a fortune. Often, it's the personal touch that seals the deal. Here are ideas gathered from marketing experts to help you make the most of a slim marketing budget:
Use Press Release Power
You might not realize it, but reporters sometimes need you as much as you need them. The key to getting their attention is coming up with a newsworthy item that is concisely written.
* Peg your release to real events, such as fundraising drives or a new service your business offers. Don't be witty to amuse yourself the idea must have a concrete purpose.
* If you can't figure out why your company might be newsworthy, ask your friends what they find interesting about your company.
* You can also utilize your built-in research tool your customers. If you have an offbeat idea, bounce it off them or have them fill out a short questionnaire. Ask them why they use your business.
Think Differently
Concoct an event to draw media coverage. For instance, a Japanese restaurant could create the world's largest sushi roll and advertise its record-breaking "sushi queue."
Put A Face On It
Placing your photograph on your business card creates a personal relationship, even if they don't know you. Not only will people remember your name, they'll remember your face.
Print The Praise
If someone says, "You do a great job," say, "Thanks, very much, that means an awful lot to me. I would appreciate it if you would write a testimonial letter." Then make the testimonial part of your promotional package.
Borrow A Message
When you see an article on a subject that might interest your clients, send them a photocopy with a note that says, "I thought you might be interested in this." You're making a personal connection with a client and associating yourself with the authority quoted in the article in the process.
Think Outside The Box
You don't have to outspend your competition, you just have to outthink them. Some examples: Buy a billboard ad every other month for a year. Chances are, the billboard won't be replaced on the off months, so you'll get more exposure at no extra cost.
This concept also relates to how you run your business: Always try to figure out how to give your customers something they can't find elsewhere, such as a children's play area at a restaurant.
Business promotion doesn't have to cost a fortune. Often, it's the personal touch that seals the deal. Here are ideas gathered from marketing experts to help you make the most of a slim marketing budget:
Use Press Release Power
You might not realize it, but reporters sometimes need you as much as you need them. The key to getting their attention is coming up with a newsworthy item that is concisely written.
* Peg your release to real events, such as fundraising drives or a new service your business offers. Don't be witty to amuse yourself the idea must have a concrete purpose.
* If you can't figure out why your company might be newsworthy, ask your friends what they find interesting about your company.
* You can also utilize your built-in research tool your customers. If you have an offbeat idea, bounce it off them or have them fill out a short questionnaire. Ask them why they use your business.
Think Differently
Concoct an event to draw media coverage. For instance, a Japanese restaurant could create the world's largest sushi roll and advertise its record-breaking "sushi queue."
Put A Face On It
Placing your photograph on your business card creates a personal relationship, even if they don't know you. Not only will people remember your name, they'll remember your face.
Print The Praise
If someone says, "You do a great job," say, "Thanks, very much, that means an awful lot to me. I would appreciate it if you would write a testimonial letter." Then make the testimonial part of your promotional package.
Borrow A Message
When you see an article on a subject that might interest your clients, send them a photocopy with a note that says, "I thought you might be interested in this." You're making a personal connection with a client and associating yourself with the authority quoted in the article in the process.
Think Outside The Box
You don't have to outspend your competition, you just have to outthink them. Some examples: Buy a billboard ad every other month for a year. Chances are, the billboard won't be replaced on the off months, so you'll get more exposure at no extra cost.
This concept also relates to how you run your business: Always try to figure out how to give your customers something they can't find elsewhere, such as a children's play area at a restaurant.
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