Here’s the big challenge (and unexpectedly the
even bigger opportunity): Most business
people spend their career in one, perhaps two fields at most, and their
expertise in these field creates a form of shortsightedness.
All they know is the basic approach to business
and marketing that people in their industry practice. They probably have
virtually no familiarity with the different successful techniques and
strategies that propel and drive the myriad of other industries that exist.
BUT--If people learned 5, 10 or 15 ways other
industries market and added them to their own very narrow-minded marketing,
they could out do and project their company above all their competitors - and
instantly turn their shortsightedness- profits DIRECTLY to their bottom
line.
The Cure of Marketing Shortsightedness?
Three ways. You could spend many years working
in different industries…trying hundreds of thousands of costly
experiments…testing tens of thousands of advertising, sales, negotiation
approaches…spending millions of naira to prove or disprove theories or
suppositions…learning the essence of each.
Or, you could pay a fortune and bring in lots
of experts, many of whose recommendations may actually be dangerous to follow.
Or I could coach, train and mentor you as a
member of my Business Insiders’ Club where you’ll learn how to grow your
business geometrically using my exclusive methods, principles and mindset.
But for now, let me give you an example of some
high leverage, infinite upside strategies and techniques I might teach you if
you and I had time together with me right now.
One of the first things you can do to start
priming the profit pump is to begin to leverage your marketing efforts.
Marketing leverage is getting phenomenally better results for the same amount
of money and effort you're currently spending. It's critically important that
you leverage your marketing to the fullest extent possible
For instance, if you're spending #100 to pull
in X number of sales, and if by improving your marketing efforts you could pull
in 1O X that number of sales for the same #100, you'll have leveraged your
marketing efforts by ten times.
It is not as hard or difficult as it may seem---all it takes is a VERY simple shift in the way you look at
your business, your opportunities, your relationships and your assets---which I
want to teach you. For instance, if you run ads, review your ads to see if they
can be improved. Then commit to testing your theories and ideas using simple
short term tests.
When creating your ads, flip through a
newspaper or check out the Internet. Which ads or web sites would be likely to
draw your attention if you were looking to make a purchase? Obviously,
the informative ads or web pages that tell the whole story, are generous in
their offerings, and may even give away bonus gifts, are much more attractive
than those simply and blatantly telling you to buy, with no reasons why.
Every business has unique dynamics. You must
test the important variables, but you will find that, for whatever reasons,
different products and services will have different optimum prices.
Here’s a great idea to test (and that’s paid
off massively for my clients and myself): Consider giving away your product
or service to first-time purchasers. Yes, I know this sounds rather
illogical--and that’s probably exactly why it works.
Your gift would be perceived by the customer
that you have supreme confidence in your company—you're so confident that
they'll be satisfied, that you're willing to give away your product, because
you know they'll come back and pay the regular price after experiencing it.
If you show confidence in your company, you'll
imbue your customers with that same confidence.
Or how about this: Try seducing your
customer with big-promise, nonthreatening, lead-generating sales methods. Come
down to their comfort level and work up from there. Don't try to sell the
high-priced products right away.
Start with smaller, less pricey items that will
work amazingly well for the customer. From there, your ability to follow-up will
be your best ally to stair-step your way to selling higher-priced items. Your
competitors, itching to sell their high-ticket items, will not understand why
their inventory is not moving and yours is--because you understand a simple
twist in logic--that will escape even your most formidable competitor.
If you continually provide a good product or
service…show that you are willing to assume risk…and regularly keep in touch by
sending out informational and educational materials…the goodwill you'll incur
as a result will mean that prospects will more likely choose you over your
competitors.
I hope the article did helped you. If it does please drop your comment
Thanks
Joy Akinlolu
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