Let’s talk about the life cycle of a business and how to get the most out of each cycle whilst also extending the lifespan of your business.
The four different stages of a business life cycle are:
• Growing Pains
We’ll talk a little about what each of these cycle’s means and how they can each help expand your business’ lifespan.
This is generally consider the technician’s phase, which is the owner. At this point, the relationship between the business and the owner is that of a parent and new baby. There is an impenetrable bond that is necessary to determine the path your business will follow.
The key is to know your business must grow in order to flourish. You cannot stay in this stage forever.
In this stage you need to start bringing your support staff together to delegate to and allow growth to happen. The first line of defense is your technical person as they need to bring a certain level of technical experience. This cycle really belongs to the manager though. The plan stage needs to start and a relationship should be built with the entrepreneur to plan for the future.
There’s a point in every business when business explodes and becomes chaotic. This is referred to as the growing pains. It’s a good problem to have, but a problem nonetheless. You are often faced with a number of choices:
• Avoid growth and stay small
• Go broke by over trading
• Push forward and plan into the next cycle
The last cycle is maturity, though this doesn’t mean the end of your business. Your passion for growth must continue in order for your business to succeed. You need to keep an entrepreneurial perspective in order to push your business forward. Sometimes that’s an exit strategy, often to start the life of another business.
You see how all three of these cycles are connected and depend on a strong foundation for each one of them for your business to be and continue to be successful. All three of your key roles must also work together to work through these cycles.
If you’re having trouble putting together your business life cycles and figuring out which of the key roles you fit into, try our FREE test drive and work with one of our amazing coaches.
Let’s have a look at 5 key steps to a marketing campaign you can use again and again.
The 5 essential keys are:
- Define your Unique Selling Proposition (USP)
- Put an effective sales offer to work
- Avoid the marketing pitfalls
- Use a world-class marketing perspective
- Get results!
We’ll go through each one of these, so you can see exactly how to use them and how they all affect the overall outcome of your marketing campaign.
Define your Unique Selling Proposition (USP)
Take the time to ask yourself some questions from the prospective of the customers/clients. What would it take to get your attention? What needs do you have that need to be met? What are the promises you want fulfilled?
Once you know the answers to these questions you can start putting together a plan to meet these needs. Then take a look at what USP your competitors are using to help you develop your own USP. Your USP is what you are “promising” your customers/clients. This is what’s going to set you apart from your competition.
Put an effective sales offer to work
To develop an effective sales plan, you need to:
- Put together a headline that gets immediate attention.
- Share benefits of your products/services speaking from the customers’ perspective.
- Identify the specific needs met by your products/services.
- Make it easy to do business with you by offer guarantees.
- Share your specific sales proposition.
- Walk your customers/clients through how they should respond and act.
- Motivate with a call to action.
What this all means is, you need to put together what makes your products/services special and compel customers to buy. If they don’t feel like they NEED your product, they won’t buy. You need to answer a question, solve a problem or feed an obsession.
You need to provide them with all the information they need to make an informed and confident decision. Buyer’s remorse is one of the worst things that can happen.
Avoid the marketing pitfalls
There are 5 major marketing pitfalls many businesses fall into and you should avoid:
- Ignore market testing and push on with an inaccurate plan.
- Offer an incomplete case, or reasons, throughout their marketing plan.
- Fail to notice the needs of their prospective customers/clients.
- Fail to diversify their marketing options.
- Fail to get market opinions on their offers.
These are all areas to avoid. If you’ve been working through these lessons, avoiding these pitfalls should be easy and natural.
Use a world-class marketing perspective
World-Class marketing perspective is important, especially if you want to attract customers/clients from all over the world. You can do this a number of different techniques and activities:
- Keep a marketing journal and scribble down anything innovate you see.
- Keep encouraging your marketing department, or yourself, to try new things and dump the ones that aren’t working.
- Order from your own company under a different name and analyse the process of ordering, shipping, online store, customer service and the product itself. This will show you where the areas for improvement in the customer experience.
- Read every quality ad you can find and keep a file for future ideas to consider.
- When out in public, watch how consumers behave in different situations and how they consider their purchases.
- Step down a notch or two and work on the front lines with your sales and customer service staff.
- Continuously acknowledge your staff, vendors and customers. Everyone works and shops better when they feel appreciated.
- Always listen to feedback from employees and customers.
- Continuously test markets, ads, and marketing techniques. This is the only way to stay successful and know what’s working and, more importantly, what’s not.
- Offer more information in your marketing than anyone else. The more information you offer, the more products/services you’ll sell.
- A great marketing plan can only get better. Continue to fine tune and refine your marketing plan based on testing results and feedback.
- Be classy in your marketing. Make sure your marketing and advertising fits your company image, products/service and quality.
- Improve your best marketing areas and drop those that aren’t working.
- Focus on what you say, not how you say it. The best marketing ideas turn into the best marketing naturally.
- Develop all your ads, campaigns and sales materials with an attention to compelling and factual information.
By using these techniques you can put your name out there to the world and become one of the top brands in your industry.
The last area we are going to talk about is the best-satisfied customers. If your customers aren’t satisfied, you’ve wasted all your marketing resources and all chance of positive word-of-mouth advertising. You can satisfy your customers by:
- Providing quality products/services
- Providing high quality customer service
- Providing a low-pressure, highly informative sales experience
- Taking all the risk away with a great guarantee
To generate more business there are a couple of simple techniques that work every time:
- Build your database with a contest.
- Do regular mailings with sales, discounts, or other incentives.
- Find other creative ways to keep your current customers coming back for more.
It is so simple! So, why aren’t you starting today? We can help you put together a great marketing plan that will get you results. Try our FREE test drive and find the tools and resources you need built by some of the biggest names in the marketing world.
Let’s look at how to use direct mail marketing to your full advantage. And yes, that includes telemarketing which I know is a curse to many of us, but there is a way to help customers feel like they are getting personal attention and keep them from blocking your number!
Direct mail marketing can be used as a powerful marketing tool for your success. Telemarketing is best used for high priced, high margin products/services.
So here are the key steps to putting together a highly effective direct mail marketing program:
- List all benefits customers will get from the purchase of your products and services.
- Pick the single most powerful benefit out of that list.
- Build an attention-getting headline around that benefit. Remember to use emotion-fulfill the desire to be young, wealthy, desired, popular or successful.
- Develop a sales letter using the headline you created to grab attention, provide information and motivate customers to act.
- Put together supplementary items, such as a brochure, order form, reply envelope or note that encourages them to read the letter.
- Rent or purchase a mailing list.
- Compare cost of mailing vs. cost per order.
- Continue to test and refine your direct mail marketing plan.
You can see how direct mail marketing can help you find a local or even country-wide target market to send letters or postcards to and draw in new clientele and customers. Fine-tuning your marketing campaign will bring better results and therefore lower the overall cost of the campaign.
To be successful in telemarketing you need to:
- Put together a plan, so you know exactly what you want to accomplish during the call.
- Develop a list of topics to discuss and the questions you want to present around these topics.
- Input verbiage checking to see if you are calling at a good time.
- Include enough questions to keep the conversation interesting, but not too many to sound like you are interrogating.
- Start with broad questions and narrow your focus as the conversation continues.
- Offer feedback to show them you are paying attention and appreciate their time.
- Don’t insult their intelligence or manipulate them.
- Listen first, talk second.
- Be relaxed and conversational.
Telemarketing doesn’t have to be the trauma it’s made out to be. You can put together an honest, personal and effective telemarketing campaign that is endearing, informative and gets the job done. Think of how you would want to be treated on a marketing call. Ask your friends and family what they hate most about the telemarketing calls they get and work hard to craft your plan in a better way.
“When selling by telephone, you have approximately thirty seconds to convince the customer to listen to you. You need an opening statement that captures their attention, conveys who you are, what you want and why the prospect should listen.” Jay Abraham
It’s easy to see how direct mail marketing and telemarketing can positively affect your business by bringing in new customers and increasing the level of awareness about your products, services and company branding. Our FREE test drive offers the resources and tools you need to work through these processes and put together the best marketing plan you can.
Direct response marketing is a marketing that demands a direct response from your potential customers. This type of marketing is used to answer questions, present your branding, products and the reason you do what you do. Customers love this, as they are offered the opportunity to response, whether that be in the way of signing up for a newsletter, posting a comment on your site or blog, or purchasing a product from you.
So, what does direct response marketing look like? Well, it comes in many forms, including:
- Direct mail
- Print ads
- Radio and TV ads
- Coupons or other incentives
Some of the advantages of direct marketing are:
- A great way to use free time during lulls in business
- Productive way to communicate and empower you to create more relationships
- Great way to up- and cross-sell to current customers
- Low cost way to rustle up new business
- Used as leverage to turn small sales into large sales
- Supplement your current marketing program
- Cost-effective way to reach target markets
- Offers measurable results
- Reach outside your local area for new business
- Increase the effectiveness of your sales force
These are all great things that can come from just taking a few simple steps to putting together a direct response marketing plan and executing it.
“I honestly don’t think you’ll ever find a safer, lower-risk, higher-profit method of increasing your business or profession than direct-response marketing.” Jay Abraham
Direct response marketing is one of the best ways to launch your business on a large scale and reach out to everyone in your target market whether they are in your local area or not. Our FREE test drive can help you put together a great direct response marketing plan and get you on your way to heightened success.