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~~ The Outstanding Results in Marketing ~~
Leading Small Business Marketing Newsletter
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Welcome back to Outstanding Results in Marketing!
In this issue:
Great example of Teeth whitening business promoting their services,by pigging
back on someone else’s effort… Cost effective for both parties,precisely targeted,
simple, yet very powerful!
1. Golden Rule #22 - how to leverage your advertising efforts and marketing
budget.
2. Business Booster #19 - If You Need New Customers, Offer Something For Free To
Reel Them In
3. Business Booster #20 - Keep In Contact With Your Existing Customers.
4. “I spy with my little eye - great marketing ploy” - How to leverage on someone
else’s marketing dollar, while reaching your precise target market
in the area of your choosing…
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1. Golden Rule #22 of Successful Advertising - build
your database of potential customers - inexpensively…
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If you are in business - you know that it’s 5 times cheaper to sellto your
existing customers, comparing to selling to new customers.
But how do you get started with selling to your existing customers?
It all starts in one place - it’s called Database.
If you have it already great - start thinking about “killer offers” you
can give to your existing customers to make sure they buy (you may find a few
at this event: www.axelhenriksen.com). If not - no problems the first thing is
to start collecting the names.
Let me ask you a question. If you aspire to become a great athlete,let’s say -
you love golf and wanted to become next Tiger Woods.
Not airy-fairy “I wish I’d be him”, but serious determination and readiness to
do whatever it takes to become a serious and respected golf player.
Does it makes sense to study what he does and then model him, what he does, his
style? It certainly is for me (as far as golf game goes they call me Hitler -
as I spend most of the time in bunker:).
Seriously in business - one of the easiest way to go ahead is to study what the
BIG guys do, then take what is applicable and apply it in your business.It’s
quite sensitive - especially if you have small budget and most businesses do.
After all - there’s no point of spending money if you don’t have to. I’m
sure you’d find many uses of hard earned dough, instead of spending it on
marketing research - let the BIG guys to do that - then learn and model
what they do.
So, “I Spy With My little Eye” series present…
How to build your database of potential customers - quickly and inexpensively
Let’s examine this name collection form. Mind you - thousands of dollars spend
by this company researching what works and what doesn’t.
1. It’s a raffle - you can win something - don’t we looooove to WIN?!.
2. To enter - you have to spend $50 - which gives you one entry. So, the more
you spend
the more chances to win
3. What is your prize? Spending more money with this company. I’m guessing that
participating retailers are funding this promotion. If you consider that average
markup in retail is 50%, then $40,000 of prizes will be only 20K in real cost.
Great concept and no
need to spend money elsewhere - say pay someone for tropical holiday - money
stay in the business - fantastic!
If you want to maximise your profit, if you feel frustrated with your marketing
efforts to date and find it hard to get new customers - click www.onlineofflineinformationmarketing.com
4. Names are collected and in compliancy with spam legislation - there’s a tick box “Yes,
I would love to receive more promotions…”
5. They ask you to visit company’s website to gain extra entry!!! Great idea as then you
have double opt-in with postal address and email address and more promotions on website. Fantastic concept
All-in-all this name collection form goes long way to build their business, leveraging
on all that foot traffic. Hope they know what to do with that database, as I haven’t received any special promotion from any of the names collected from me so far - ouch!?
Get your act together marketing managers of BIG GUYS:)
As a small business owner you have great advantage comparing to the giants - you can
be flexible, you can be adoptive, you can move fast and you can make decisions without
board meeting. So, learn from them, model and apply in your business on SYSTEMATIC
basis - then you’ll get consistent results!
Yours in success,
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2. Business Booster #19 - If You Need New Customers,
Offer Something For Free To Get Them In
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Nothing, I repeat nothing, works like
a free offer. And I mean free. No conditions if at all possible.
If you have a good sales system and follow up, you’ll find that making
some sort of a FREE offer is almost always the cheapest way to get lots
of new customers very quickly.
What Should You Offer?
Well it depends! You could offer a sample of your product or service
or a free report to get them to call you. You could offer free advice or a
free trial, or you could try these:
* If I had a coffee shop I’d be giving free coffee.
* If I had a clothes shop a free T-shirt.
* If I had a wholesale operation I’d offer $300 against your first months
order/account with us.
* If I had a laundry/dry cleaning shop I’d offer $10 worth of cleaning.
* If I wanted a job, I’d offer to work for nothing for a month.
I am sure you’re getting the point, aren’t you? The reason this works
so well is because every business is built on repeat sales and referrals.
And the quicker you build a customer base, the quicker these start to
kick in.
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3. Business Booster #20 - Keep In Contact With Your
Existing Customers
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It never ceases to amaze me that there are still business people out
there who don’t even know who their customers are. Please get their
names and telephone numbers, and there are lots of ways of doing this.
See above example.
Then send them a letter, call them, it doesn’t matter what you do, as
long as you do something to keep in touch with your customers, so
that next time they think about the product or service you provide –
your name will be on the top of their list to contact.
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4. “I spy with my little eye” - Cost effective for
both parties, precisely targeted, simple, yet very
powerful!
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Let’s say that you want more customers for your business.
Great - I’m not surprised to hear this from you, however you tell me
“but I don’t have mega marketing budget”. I’d ask you - “well who
has your best customers now and not in direct competition with you?”
- you’d answer GE Finance. So, …………………….
“I Spy With My little Eye” series present…
Cost effective for both parties, precisely targeted, simple, yet very
powerful! - Piggy back #2
Do you like to receive bills? Silly question - of course not if you are on
receiving and paying side. Yet you still have to pay.
So, the question is - how can you improve your customers “bill receiving and
paying” experience? Ok, if you are sending bills or statements or payment
reminders - this is necessary evil if you like to pay postage and printing costs.
Then you need to chase customer and make sure they pay. As you know - the good
ones pay straight away –not so good do pay as well in 1-2-3 months and rest -
well you have to chase them.
So, the question is - how can you save on printing and postage costs as well as make
sure that customer will appreciate extra effort you’ve made to give them add-value, as
well as pay faster?
Isn’t interesting - two questions - one answer!
The answer is - “Bill inserts”.
Teeth whitening company identified that their target market is anyone who has
discretionary spending money. Who would it be? Hmmmmm… well let’s think –
is someone who is approved for customer credit by well known finance company –
eligible? Sure, you bet - but how I - the owner of Brite Smile (see picture) can
persuade GE Finance to promote my services to their clients (who are also my
pre-qualified prospects)?
Simply do following:
1. Offer to cover all postage and printing expenses. Believe me comparing to
advertising elsewhere - this is very cost effective option. Your targeting is much
better - so will be your conversion in enquiries. Conversion to sales is another story –
subject to your salesmanship. Read my previous newsletters on 7 steps in sales process.
2. Offer to refer people who don’t have finance to pay for their perfect smile back
to finance company to obtain the finance (very attractive for finance company as
they will get extra business from their existing database - remember they want you
to spend more money with them - after all they are in business of selling money).
3. Offer them to report back the results of campaign.
4. Offer them kick back from all sales 5,10,20% whatever makes financial sense.
Read bellow how this promotion can be imporved…
If you want to maximise your profit, if you feel frustrated with your marketing efforts to date and find it hard to get new customers - click here www.onlineofflineinformationmarketing.com
You can and should offer guarantee. “Your teeth will be white for at least 6 month or your
money back - no questions asked”
Also by including testimonials from happy customers. The testimonials should be in the
format “before I was an ugly duckling with yellow teeth - now am beautiful swan [thanks
to XYZ business - you] and people have to put their shades on, so they are not blinded
with my perfect smile”
Collect their details by asking to either go to your webiste and go into draw to win
FREE teeth whitening valued $1,000 - draw is every month. Here’s what lucky winners
from last 5 months said: [testimonials with above format]
If you are in business - your prime objective is to make profit then you can contribute,
develop your business, etc. Wishing you profitable month!
Until next newsletter - your partner in success,
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If you’ve missed last letter’s “I spy…” - not to worry You can see below to program
your customer to come back and buy in two weeks… …..“I Spy With My little Eye” series present…
How to leverage your marketing budget, attract customers from your target area,
create good will and climb prospect recognition ladder…
You’ve tried to advertise in newspapers and very quickly discovered that you are spending
like crazy for minuscule results.You become smart and start calculating the cost of lead –
if you spent $400 on the ad in local newspaper - let’s say 18×3 and got 2 calls (ouch!) –
the cost of lead is $200. And this is only lead, if you are able to convert at least one of
them to the customer and you sell a product or service for $800 with 50% profit margin –
then you just broke even.
Well one can argue that if you got yourself a customer who purchases every 6 months and spends $800 each time - it’s ok and you can recover your costs latter - that is fine!
But I’m starting club “Make profit first time from your ads” - everytime you advertise you
should be in-money…if you are in keep reading
So, after a while the frustration sets in and you start repeating “bitter business person”
mantra - ‘advertising doesn’t work…. mmmmm…. advertising is waste of money……ooooooh’
Well - think again, think laterally too. The question [you ask yourself] always defines the
result [you get]! What is your goal - you’d say “How to get customers to buy from me?”.
Let’s re-phrase it. The question should be “How to reach my target market (people with
money, who need my product/service and willing to spend on it now), with least effort, systematically, in most cost effective way, and make sure that they are calling me - not
other way around?”
Bellow is good example how this can be accomplished. The real estate agents teamed
up with the local gym and the local hairdresser. Local people prefer to go to local gym
and local hairdresser. If you can afford to go to these places most of you will have money
and you are most likely thinking of buying or selling your home.
Read bellow how this promotion can be imporved…
Make Sure You Checkout websites that sell –www.web-site-wizards.com
If you want to maximise your profit, if you feel frustrated with your marketing efforts to date and find it hard to get new customers - click here: www.onlineofflineinformationmarketing.com
You have noticed that this promotion is double playing - at first it solicit enquiries from first tier prospective customers - people who possible wanted to sell or buy property;
Secondly, if above fails - it invites to pass referral and dingles a carrot - give me referral I’ll bribe you (of course in the good sense) with 3 months membership at local
gym! Remember that your customers will ask the key question “What’s in it for me?”.
What is the difference of this real estate agents from others? Why should I do business
with you and not with others? Why are you unique? And what is unique about you?
This ad can be greatly improved by - including better headline and utilising better space on
the first page - instead of week “We look forward to hearing from you…” - one can say “How
to get healthier, look 10 years younger and sell your house in 3 weeks at agreed price guaranteed or your money back” then you can add a sun-headline “BUY your dream house
in next 4 weeks or $100 for wasting your time” - this is to cover both BUYERS and SELLERS.
Also by including testimonials from happy customers. The testimonials should be in the
format “before I was an ugly duckling - now am beautiful swan [thanks to XYZ business - you]” “Wow-wow-wow!!! Hold your horses” - I hear - you’re saying… won’t I go bankrupt if
I offer $100 back? What will happen if the house is not sold in 3 weeks? What will happen
if I can’t find house for my clients in 4 weeks…. Well - your worse case scenario - you would have to refund the money they have paid you… It’s my belief that number of extra customers you will acquire will outweigh number of refunds you have to do. Remember that
any marketing concept needs to be tested on the small scale and if results are positive
that you want to implement this on the large scale.
Finally, I would drop that black background - it’s hard to read and un-attractive. Add more
copy - text. Remember - the more you tell - the more you sell. When a real estate is in the
front of customer - they don’t say “we look forward to hearing from you…” and then say nothing…do they? No…of course not - they would talk about the benefits of doing business
with them, and they won’t shut-up until you stop them, right? So, why your brochure says
no much?!? Every single square centimeter should be used to sell-sell-sell… And make no mistake, marketing collateral only design to do one thing - sell the idea to give you a call,sell the idea to visit your shop, sell the idea to inquire further, sell, sell, sell.
If you are in business - your prime objective is to make profit then you can contribute,
develop your business, etc. Wishing you profitable month!
Until next newsletter - partner in success,
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In Next issue:
1. Golden Rule #23 of Successful Advertising.
2. Business Busters #21 and #22.
3. More of exciting stuff on “I spy with my little eye”
series