Seven Idiot-Proof Marketing Strategies That Will Skyrocket Your Sales and Profits
Business owners are experiencing some of the most turbulent times in history. Inflation, Pandemic, Gig-Economy, the Great Resignation, etc. The Internet has created a whole new economy. And this is just the beginning…
I get asked all the time, “What are a few marketing strategies that I should be doing right now to grow my business?”
This a logical question that every business owner is asking.
Here are just a few simple marketing strategies that will skyrocket your sales and profits.
Idiot Proof Strategy #1
Create A Marketing Parthenon
A Marketing Parthenon means having multiple different sources of revenue and lead generation instead of relying on just one and not 100’s.
There are literally thousands of different marketing strategies you could be using to grow your business but only a few that you need to do consistently that will allow you to make all the money you desire. It’s sometimes hard to find just 3-4 strategies that bring you the highest ROI. Most business owners are trying around 15-20 marketing strategies and are struggling with keeping up with all those strategies. Look at your current marketing strategies that have increased your business the most and just stick with those. Lose the rest.
For example, let’s say your primary method for generating new business is through direct mail.
What happens if, for whatever reason, your postcards, fliers, or FREE Reports stop working tomorrow? How will that impact your business?
The same thing can happen to you if you don’t diversify your business.
Start now by conservatively testing other methods of marketing so that if one method stops working, it won’t put down your entire business.
Idiot-Proof Strategy #2
Consistency
This one seems so easy, yet so many people fail to be “consistent” in their marketing efforts.
For example, we get calls all the time saying things like “I just mailed 200 postcards, now what do I do?” The answer’s pretty simple…
Mail 200 More Next Week!
You can’t do just one mailing, run just one ad, do just one joint venture, and expect blockbuster results.
Marketing doesn’t work like that!
Create a marketing plan and a marketing budget for the year and stick to it.
For example, maybe your plan calls for mailing 200 postcards a week, developing, and maintaining an internet website, running 2 small ads a week in local newspapers, and setting up one new joint venture per month.
If that’s your plan, you must stick to it.
Over about 90 days, you will create momentum, and sales and profits will start to roll in.
And if, for some reason, one of your marketing methods stops working…
Change Your Approach!
Don’t just give up on direct mail or advertising entirely – test a new ad or sales letter.
Whatever you do…
Be Consistent!
Idiot-Proof Strategy #3
Sequenced Mailings
This is probably the most important marketing strategy you could implement, yet very few marketers have put systems into place to allow them to tap into the power of consistent sequenced mailings.
There was a famous marketing study done several years ago that determined that over 70% of all people who respond to an advertisement (or letter) will ultimately buy the product or service being offered.
Here’s the interesting part…
Almost All of Those People Will Purchase The Product Or Service From Someone Other Than The Original Advertiser!
Why do you think that is?
I’ll tell you why… because people buy when THEY are ready to buy not when YOU are ready to sell.
So, what does all this mean to you?
It means that sending out one FREE Report to a leader is not enough.
When a lead calls an 800# to get a FREE Report, all they are basically saying is that they are interested in buying what you have to offer (but NOT necessarily ready to buy yet).
“Yet” is the important word here. This means that at some point in time, they will be ready to buy, and the company that gets the sale will be the one who stayed in front of them until they were ready to buy.
Idiot-Proof Strategy #4
Monthly Newsletters
Do you send out monthly newsletters to your clients?
If not, why not?
Did you know it’s far easier to re-sell an existing client than to sell to someone who doesn’t know and trust you?
Did you also know that you lose 1/12 of the value of a client every 30 days you don’t communicate with them?
So, knowing these two facts, what’s the easiest, most profitable way to maintain relationships and re-sell existing clients?
You guessed it… you’re reading one now.
So, if someone becomes a client after reading a FREE report, offer them more FREE reports on other things that you offer.
But whatever you do, make sure you keep in touch with your clients at least once a month!
Idiot-Proof Strategy #5
Create A Back End for Your Business
As I said earlier, it’s far easier to re-sell to an existing client.
It’s also…
Far More Profitable!
Think about it…once you’ve spent the high upfront costs to acquire a new client, it’s relatively inexpensive to send them a letter promoting another product or service.
The list is endless. The sky is the limit.
Now it’s up to you to either offer these services yourself or set up Joint Ventures with other companies who already offer these services and split the profits.
Idiot-Proof Strategy #6
Testing
It always surprises me how few business owners and marketers actually “test.”
For example, have you ever tested one price against another to see which price pulls the most sales?
I’ll bet most of you haven’t.
Well starting today, here’s a brief list of the most important things to test:
- Headlines (in ads and sales letters)
- Price
- Guarantees
- Offers
- Mailing Lists
- Newspapers
And the list goes on. There are an endless number of variables you can test in your business.
Here’s the exciting part: One “minor” change can have a major impact on your business.
For example, let’s say you test charging $700 instead of $500 for your services and your sales remain the same. Let’s further assume you’re selling approximately 100 new clients a year.
The $200 extra dollars per client multiplied by 100 clients or …
$20,000 Extra Dollars Per Year with No Extra Work on Your Part!
That’s the power of testing. Put it to use in your business today.
Idiot-Proof Strategy #7
Creating A Deluxe Version of Your Service
Airlines have “First Class” tickets. Nightclubs have “VIP” rooms. Hotels have “Suites.”
Are you starting to get the point?
Give your clients more than one option. Offer them the “No Frills” service for one price, and the “Premium” service for a higher price.
Add extra bells and whistles to the “Premium” service and create a much higher “perceived value” and I GUARANTEE most of your clients will choose the “Premium” service.
You want to give your clients a “Yes” or “Yes” decision NOT a “Yes” or “No” decision.
So, if you aren’t already offering a Deluxe service, start doing it immediately!
What are you going to start doing today to create a marketing machine that increases your sales and profits? It doesn’t have to be 100 different marketing strategies. Start with one, be consistent with that strategy, test it, measure it, adjust it, and profit from it. Then start with the next one.
Contact Biz Coach Steve today to see how he can assist you to get the results you want in your business, steve@bizcoachsteve.com, or www.bizcoachsteve.com. He is in the business of growing businesses. Need a speaker, contact Steve today.
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