Avoid Business Death With...
3 Business Boosting Secrets
A fellow business owner I know was at the end of his rope. Work had dried up. Nothing was coming in. He was
living on what little savings he had left. He had let go his 12 employees because he just didn't have the work to
keep them busy. And he was hanging on by a fingernail, scraping by with odd jobs he would have easily passed up a
year ago. His business was a hollow shell of what it use to be. And chances are it wouldn't even be that soon.
Many businesses have suffered a slow and painful death. Sometimes because we hang on too long instead of just
letting go. But most often they suffer from a lack of proper marketing. Business' in general have had it good for
so long that most business owners know nothing about how to actually market their business. Like the proverb says
"For lack of knowledge my people perish".
Business Boosting Secret #1
Test everything. If you can't test it and measure the results,
then don't do it. That's the definition of marketing: test, measure, do what works best, and
repeat.
Marketing is the scientific approach to building your. It's no wonder a Marketing professional can help you
be more successful. There's no guesswork involved. A marketing professional will systematically test
different aspects of your business, measure the results, do what works best for your business, and repeat
the process again, and again, and again.
Marketing is like guaranteed success.
The key to avoiding business death is to effectively market your business. Even in a down economy there are
always people looking for the products or services you provide. While your competition is struggling to make it by
(like the majority of business owners are), you can rest comfortably knowing that you have systems in place to be
more effective, making more sales, picking up your competitors key clients and employees as they fail, thereby
making you more successful increasing your market share.
Business Boosting Secret #2
You need to be actively seeking referrals, asking
clients, asking former clients, and letting everyone know you want referrals. I already told you marketing is the scientific approach to building your
business. One of the greatest marketing tools for the business owner is referrals.
You might be saying "My business is about to go under! I can't wait for referrals!" That's
right- you can't wait. That's why you need to start asking clients NOW. I had one business advisor tell
me that a new business should be marketing at least 4 days a week. Are you?
According to statistics I've seen, something like 65%-90% of businesses live on referrals... and about 80% of
clients will never give you a referral if you don't ask. Now is the time to start asking. The best
thing to do is start asking and then create referral business systems for your company. You'll want to
consider:
- referral rewards programs,
- how you ask for referrals,
- who you ask for referrals,
- company networking,
- lead generation and follow up strategy
- allowing customers to know up front that you expect referrals
You need a Referral Machine in place to make clients your marketing face and sales force.
Business Boosting Secret #3
Never compete on price.
You might be living on peanut butter and bologna... but many businesses have gone out of business because they make
this one critical mistake.
Someone else is always ready to go out of business faster than you. Iif you just compete on
price, eventually you'll be paying your customers to do business with you. When clients or customers
realize you bring real value, they'll buy - and you'lll stay in business.
BONUS Business Boosting Secret #4
Alway overdeliver. Amaze them with the
massive value you bring.
People are
interested in what they can get. Give them a good deal and when they agree, make sure to add some more on
top. It's like icing on the cake or the extra cherries on your
icecream.
If you are
an auto dealership, how about sending a huge baloon bouquet thank you to a client a few days after the
sale.
If you are
an electrical contractor, offer $100 off service coupons to your clients to hand
out.
If you are a
window washing company, try supplying your clients with referral postcards after a great job has been
done.
If you are a
lawncare company, try sending a handwritten note with a lottery ticket to your client. Not all clients
are into gambeling, but I don't know any who would pass up a chance at winning some extra
cash.
If you are a
remodeling contractor - how about offering a FREE open house party for your client. Offer your marketing
materials at the event and you may end up with new clients from it.
If you are
an Independant professional, like a Doctor, Dentist, Law Firm, Accounting Firm, Business coak, Insurance
specialist, etc, try offering a seminar on a hot topic. You can even send out free tickets to the
event. At the event, offer sign ups to a special
networking luncheon.
These
are just some of the MANY ways you can overdeliver. Be creative and think of ways you can regularly
overdeliver for your clients.
And if
you ever get stumped CONTACT ME - I'm always looking for new clients and I'd love to you help grow your
business.
Here's
to your Business Boosting Success... and your marketing.
...Back to the Marketing Articles
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