Pulling More Profit out of the Marketing your already doing.

As your might or might not know our montra at this Marketing Blog is to always find the best, the top, the most profitable ways to grow your business right now in today’s market.

Now that you know that a profitable marketing plan is the topic that gets my attention I have to tell you

I’ve noticed in this potentially overwhelming age of so much information and so many opportunities to grow our businesses we can spend so much time starting or learning new ways to grow our business.

So much that we find ourselves not fully leveraging the opportunities that we have right in front of us right now.

If you, like me, know that at the end of the day. Its the results that matter. Then it’s time to start looking less at new opportunities if that has become a distraction in actually evolving our businesses.

I know it might at first sounds a little counter intuitive to building your business, but it’s the discipline of less scattered attention becoming more real put in the bank profit potential.

Sure time should be spent on a progressive movement forward into new technologies and new ways to make it easier and more effective to grow our business, but not at the expense of our business not growing.

I have sat down with a number of entrepreneurs and business-owners over the last little while that seem to have shiny object syndrome when it comes to figuring out the best ways to grow their business. It reminds me a lot of the story Acres of Diamonds by Russell Conwell that I first heard in a speech from Earl Nightingale many years ago.

(I would suggest if this message speaks to you to listen to that talk).

Anyway, saying all of that,

I would like to challenge you if you have been looking a lot of different ways to grow your business and not getting the results you want….it could mean that your spreading your attention too thin and it’s time for you to re-focus on what it is you are doing right now.

That is, evaluate your business to find out if there are any other alternative ways you can do what you are already doing in your marketing to grow your business a little better, a little more effective, or in a way that gets you a little more of a leveraged result with your business as far as your time is concerned.

Then, and only after you have leveraged all the opportunity that’s right in front of you right now, then go and look for new and “better ways” to use all the new ways that you see to grow your business.

I would love to hear about what your doing now to grow your business and what you feel you could do better when it comes to that specific strategy or technique.

Or, any insight you feel you have on this topic is welcome as well.

Other than that, if you have any topic ideas that in your mind would make the marketing blog Guaranteed Profit the top, best marketing blog as far as giving you easy to use ways to grow your business, let me know

Simple Marketing Tip that makes it easy to sell larger amounts of YOUR more expensive products or services

I just want to start out by letting you know that my goal with this blog is to give you the Top, Best, and easiest yet massively profitable strategies to grow your business.

That said….

About a month ago I was working with one of our business-owners and looking at all the ways to make their marketing more profitable.  At the time, we were focusing on their A B offer or a 2-part precious medal product offer.

Two Part Offers for Business Profit Explained

What that means is they had version of the same product one basic version with a basic price and another version that provided an extra value for a higher price.  In this case, it was longer customer support and a few more perks that made the customer experience higher end.

And even though the higher priced offer provided many more times the value of the lower end product, the customers still were not buying nearly as much of the higher end version as the business-owner we are working with was hoping.

Usually when one of my “done-for-you” marketing clients want a jump in their profit, I look at their marketing to see if their is any low hanging fruit or opportunities that I can just slightly change that would create a significantly higher result in the return on our clients marketing, no matter if its business-to-business or business-to-customer.

To describe this better:

So this time with this specific business-owner (and friend of mine) what we did was instead of working on attracting more leads, or the scripts of the sales people, we just added another extra higher end offer to the A B offer they already had.  Which makes it now an A, B, C offer.

Let me explain……

If you only have a single offer and all the other bases are covered and your prospect decides to buy from you, then they only have one choice so of course its perfectly logical that they are only going to buy the product offer available.

If you have two offers in today’s market, we find a larger percentage of people will choose the lower-end option.

Why?  Because the average customers wants to make a balanced decision that is a compromise between what their lowest needs are and what they can afford.

When you ad a 3rd more expensive option, what we find is that most of the people buying will purchase the middle priced -option which was your more expensive option before you added the 3rd option.

Make sense?

What this means to you is that even if no one ever buys your NEW most expensive package or product or service (which someone probably will sooner or later if you know how to present the value of it) that simply by having the more expensive  3rd offer there at the right time in your buying cycle, you significantly increase the numbers of people that will buy what use to be your most expensive option.

Now, I know it isn’t just true when business-owners work with me to make their businesses more profitable because in the book “Yes” Robert Cialdini talks about why this works in chapter 7 that is worth visiting.

We are not going to go into why it works here because I have promised you small pieces of information that give you large results when you put them to work in your business and so that’s all I am going to do here…most of what I know comes from just testing until a pattern is found.

(increase your Business Profit and re-think your Marketing)
So if you ignored everything else on the Marketing Blog GuaranteedProfit.com and just put this idea about how to get your customers to buy your most expensive products to work in your business, then I reached my goal with this marketing blog article and made a significant difference in your profitablility.

Remember my goal with this blog is to give you the Top, Best, and easiest yet massively profitable strategies to grow your business.  Saying that….

Did you find this helpful?   and How do you think this could be applied to your business to increase your business profit?

“What plan can I follow to make sure I get the most profitable things done?”

I hope you write this down and use it when you are thinking about the best way to get big profits out of your small business.

This is what I said…..

Step 1. Look at your goal, whatever that goal might be.

Step 2. Then look at what needs to get done in order to reach that goal.

(if you are doing something that isn’t congruent with that goal.  Stop)

Step 3.   Figure out which of those steps you are most suited to fulfill, and which ones you are not

Step 4. You are always expanding your riendships and working relationships with people, so take the stuff that you are not best suited for and turn that into an opportunity for someone who is best suited for it (delegate).

Step 5. Shut the door.  Don’t take calls.  Don’t check any online communications and work focused on whatever you are trying to accomplish for at least an hour and a half or whenever it is finished.

A big part of this is constantly checking your personal and professional compass.

That is, figuring out ways to constantly use your goals along with your highest talents as guide posts for your actions.  Then, at the end of the day, hold your results up against your goals to plan out future actions.

Marketing your small business and getting any goal you want…… are a lot a like.

A. Decide what your goal is going to be.

B. Determine the effort you’re willing to put forth for that goal.

C. Test different actions for a result.

Don’t take the result personally but understand that your results are the ultimate feedback for how you should approach your next opportunity to move closer to your goal.

Always and forever move forward, believe in yourself as the person that can achieve what it is you want because if you were not that person, you would have never been able to dream it.

Towards the end of the training after we spoke about a couple simple strategies for bypassing the resistance of local prospects using social media,  I was asked a question by one of the business owners…..

“Whats the Fastest Way to Increase My Profit for my Small Business With My Local Marketing?”

Now to be candid, sometimes it’s hard to just keep my speaker hat on and not bring the audience member up on stage and start diving into their business from a consultative point of view.

But unfortunately, since we didn’t have time for me to learn all the ins and outs of their business and since I wanted to make sure everyone that was in the room got value from the talk, I gave an answer that I know you will get tangible, profitable value from  if you apply this to your local marketing of your small business.

2 very fast, simple ways to increase The Profit of your Local Small Business Marketing

If you have an existing business with a strong USP and your existing business is closing sales, and you don’t want to go find new customers to buy from you.

one of the easiest ways to increase profits is to…

Add an up-sell at the time of purchase.

No risk in a new investment for local marketing, just a simple question that will increase your profit if you do it correctly.

If the product or service up-sell is complimentary to the product or service you’re selling as your lead purchase, and you offer the up-sell using the right words and your price of the up-sell isn’t more than 60% more than what your customer is purchasing, you should have around 20-37% of your customers buy the up-sell.

Hmmm… 30% of your customers buying something that is worth 60% more than what they’re already buying….That’s not a bad bump in profit!  As a side note, this will work in the business-to-business local marketing world as well as the b-to-c marketing world.

Re-activating past local customers

Re-activating old local customers with a simple offer is another easy way to increase profits.  Because if you do your job well (and I am sure you do) your customers already trust, know and like you.

Most customer re-activation programs I have seen average 16-30% buying response with something as simple as a few emails, a couple calls or some letters in the mail.

The best local media(s) to use to re-activate your old customers depends on your market.

But if you have been in business for any length of time, a 16-30% surge in purchases wouldn’t be bad, would it?

And if you tap on the up-sell we talked about earlier, you’re not only re-activating old customers to the tune of 16-30%.

But you’re also getting 20-37% of those old customers to purchase your up-sell at a 60% increase in price above your original offer.

There is always a way to get the result you want with your local marketing.  It just takes finding a formula for growing your small business that has (recently) proven itself to be effective then thinking it though and testing it with your own local marketing until your business gets the results you want.

Anyway I wish you the best of luck.  I hope you found this helpful.  Feel free to leave any comment you think will add value to this topic.

So How in the world do you expect to communicate a message that earns a complete strangers trust?  At the same time, how do you influence them to pull out their hard earned money and give it to you when they have a memory about a bad experience they had when purchasing something else.

The truth is, when you make a claim about your business, your ideal customer sees only that….

A claim.

But when a satisfied customer says the exact same thing, it becomes a fact in the mind of your prospect.  Making your big, bold, promise in your marketing, the “truth.”

Customer or Client Case Studies Help establish instant credibility so harvesting them  is one of the most profitable things you can do for your customer-attraction tool kit.

What customers say about your product or service carries more weight than anything you tell them no matter how well you say it.

So here is a simple way to get your most satisfied customers to turn into your most profitable sales people.

• Ask yourself: What are the key benefits my customers or clients are looking for that would make them want to do business with you?

• Then consciously create a memorable, positive experience for your customers by providing those benefits the best way you realistically can.

• While your customers or clients are feeling the feelings that are generated from that positive experience of doing business with you, your establishment, or your team, talk to them about there experience and ask them if they experienced the benefits you thought of earlier (this primes the pump and makes them concisely aware of how great it was to invest in the experience of doing business with you).Then ask them if they enjoyed doing business enough to recommend you.

• If they say yes, give them a referral mechanism.  This will vary depending on your industry but an example would be two coupons for something free (one for them and one for the person they feel would get value for doing business with you).

• After getting their permission, get out a small camera if your face-to-face (just about any up-to-date camera has a video switch to take a few minutes of video) and ask them what there experience was like to do business with you….now you have a great piece of digital marketing material to leverage on your blog, website, facebook, ect…

Here is an example of one.

Hey Nate

My wife Julie wanted to say thanks for giving her her husband back and she is sorry for being so skeptical right when I told her I wanted to coach with you.

I missed out on the first part of my kids’ life because my business was brand new.  Then, when the economy started going sout,h I had to put on the after burners and work even harder.  But just after 7 months of coaching with you, I forgot that times were suppose to be tough for everyone because I just had 3 record months in a row and I spend more time with my family than I ever have since I started my crazy entrepreneurial journey.

I look forward to our Next Call!

Andy Y.

You can turn a video into audio, and audio into print, so always try to start with a video.

P.S If you get personal satisfaction out of giving value to your other friends that are Entrepreneurs, your welcome to share this with them.