Actual for You - Business

Discover If You Have the Entrepreneur Blood in Your Veins, and Create Your Own Business
Starting your own business is not a simple task. On the contrary, it has a series of implications that will completely transform your life and the way you see the world. This is why you truly need to understand the reasons that are driving you to start your own business and if you have developed the skills necessary for this kind of venture.Discovering the real reasons for starting your own businessWhen I hear people say, "I can open a small business, hire an employee, and I’ll just receive the money from the sales," I

offer a special deal for renewing the relationship. I can’t say how many people you’ll get back, but the cost is still a lot less that what it costs you to get a new customers.

3. A Strategy for Referrals

How to Target Your Ideal Customers - Part 2
Before making one telephone call or placing any advertising or putting one word to press release or promotional copy, spend time clearly defining your target audience. Don't worry about your message and content at this point. It's critical to first identify your ideal customer or client.Who wants and needs what you have to offer? The only wrong answer is “everyone.” You want a niche, and the more focused the better.When looking at your target audience, visualize one person and capture as much detail as possible about that

Your marketing plan should contain these four strategies for growing your business. They are presented here by degree of difficulty and cost, from low to high. The priority you assign to each strategy will be determined by the unique needs of your individual business situation, products or services.

1. Strategy to Sell Existing Customers
Selling to the very people pre-disposed to buying from you again gives your business the best return on investment (ROI). As obvious as this would seem, many business owners get so wrapped up getting new customers they overlook such a great source of revenue growth.

The key is to get your customers to buy more frequently or buy in larger quantity. Better still, set a modest goal for both categories. A goal of just7% increase in frequency and 5% increase in average order size yields a 12% increase in revenue just to the existing customer base

Now a paradox: If you want to increase sales to your existing customers—fire your worst clients and customers. They take up way to much time and energy and rob you of the opportunity to sell to your best clients. In one extreme case Tom Choate, president of Air Systems Technology in Avon, MA, “fired 40% of his customer list!” As Tom puts it, it was not easy and it took a lot of resolve but his company came out better for it.

2. A Strategy to Recover Lost Customers and Clients
There’s not enough space here to list out all the reasons and percentages why customers stop buying from you. However, research shows that 63% of your customers who stop buying from you are recoverable. Barring any past payment issues or serious unresolved disputes there are a lot of people who may still be pre-disposed to do business with you.

The number one reason given in surveys of why a customer leaves; they don’t feel you care about them or have lost contact over time. Now, add that to the fact they get more attention from your competitors who their new business and you can understand how they drift away.

So, call former customers, write them a letter and offer a special deal for renewing the relationship. I can’t say how many people you’ll get back, but the cost is still a lot less that what it costs you to get a new customers.

3. A Strategy for Referrals

The Best Way to Start a Legal Work at Home Job
You have probably heard the many online opportunities that are opening everyday on the Internet and how many people are making their living online working in the comfort of their own home. However we also hear of so many scams and fake opportunities were people loss their money and even their shirt for investing so much money on things that don't work or that are scams.You should not be afraid of choosing a work from home and making your life the way you want it. What you should be doing is first getting your head straight on what do

ners get so wrapped up getting new customers they overlook such a great source of revenue growth.

3. A Strategy for Referrals

7 Tips for Writing Winning Resume Cover Letters
Writing a good resume cover letter is something you should seriously consider when preparing to send off your resume to potential employers.Here are seven important cover letter writing tips:Address the individual by name. If you don’t know their name then use: “Dear Sir or Madam” or “Dear Human Resources Director”.Attract attention with a strong opening paragraph. Create impact. Give them a reason to keep reading about you.Refer to your enclosed resume. Be specific in describing your skills

much time and energy and rob you of the opportunity to sell to your best clients. In one extreme case Tom Choate, president of Air Systems Technology in Avon, MA, “fired 40% of his customer list!” As Tom puts it, it was not easy and it took a lot of resolve but his company came out better for it.

3. A Strategy for Referrals

Who Does Over Disclosure Really Hurt In Franchising?
Costs of over regulation and over disclosure end up hurting the very consumer that the regulatory bodies are trying to protect. Over disclosure and over regulation is in itself the worst evil of civilization, as it stifles free enterprise, innovation and free markets. In franchising the disclosure documents have in fact grown to over 200 plus pages in length on average. You should be happy you are not a tree in the forest right now.If franchise buyers (consumers) are damaged in the market place due to burdensome over disclosure and co

s who stop buying from you are recoverable. Barring any past payment issues or serious unresolved disputes there are a lot of people who may still be pre-disposed to do business with you.

3. A Strategy for Referrals

Rx for Sales Effectiveness ----- The Purple Pill
The “Purple Pill”If you could give your sales force a “Purple Pill” that would boost their effectiveness by 25% or more, would you do it? No prizes for guessing how a typical sales manager would answer this question! Sales professionals are high-energy, fast-thinking, opportunistic people. If they are good, they often shoot from the hip and take calculated risks. They can be called mavericks and that’s a good thing. It takes a little “maverick” in the blood to be effective in the world of professional sales. Most are willing to try an

offer a special deal for renewing the relationship. I can’t say how many people you’ll get back, but the cost is still a lot less that what it costs you to get a new customers.

3. A Strategy for Referrals

Taking a closer look this is actually a strategy with two parts. The firs part is having a plan or plans to actually get referrals from your satisfied customers and clients. The old fashioned ways is still by far the most effective way, first do what is necessary to earn referrals, then, ask for them. You can ask for them directly, in a letter or survey, or offer a premium or special deal. The key is to ask, thank them in some way, and follow up quickly.

The second part is a lot easier; start the sales process with a call, a letter, and special offer. You have the advantage of an introduction from someone who is a person of influence. You have a targeted prospect that is pre-qualified and receptive to your marketing message. You’re several steps ahead in the selling cycle, but don’t assume the sale is automatic.

Do your normal great job and get paid twice. You now have two satisfied clients/customers giving you referrals, not one.

4. A Strategy for Getting New Customers/Clients

Regardless of the systems you have in place for recruiting and closing new business this is still the most expensive way to grow your business, but necessary. There are as many ways to get new business as there are businesses. A high risk way of getting new business; use one method to get seventy five new customers. The low risk way, use seventy five different ways to get one client with each.

Of course the answer depends on you, your company and the means you choose to employ to get new business. What you should know before your start spending a dime on new business is the lifetime value, or residual net wroth, of a customer/client. Once you know what a customer/client is worth you then you can decide how much to spend getting a new ones.

In conclusion my friend, Bob Conroy of Mantis Design Associates stresses that for these strategies of be effective, “you must think in terms of campaigns” and not as a single ad, web site, or offer. A great point, now that’s why it’s called a marketing plan.

HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.actual4u.com/article/44289/actual4u-Business-Growth-Strageties-Your-4-Part-Marketing-Plan.html">Business Growth Strageties Your 4 Part Marketing Plan</a>

BB link (for phorums):
[url=http://www.actual4u.com/article/44289/actual4u-Business-Growth-Strageties-Your-4-Part-Marketing-Plan.html]Business Growth Strageties Your 4 Part Marketing Plan[/url]

Do clever, memorable marketing campaigns increase sales? It's an important question for you to answer in a time when every marketing dollar has to get results. Clever advertising can be effective in building brand awareness. But those of us with limited marketing budgets need to have a different goal than mere brand awareness. We must make sure our advertising connects with the consumer, and drives them to purchase our products.

In my story, we admitted our mistake and were able to show the results of my error. We simply performed what we needed to do to resolve the situation. I remember willing to do just about anything we could if the customer would have asked. The customer didn't ask and remained a key customer for years because we were human and continued to perform for them.

If you've ever spent $5,000--or more--to exhibit at a trade show and came away with half the leads--or less--that you forecast, then you know first-hand the pain of wasting your money and your time at an event where you know you should have snagged new customers or referrals. Before your next show, make sure you secure the pre-show attendee list. Then you can mail out a promotional offer to drive traffic to your booth. If your pre-show attendee list contains emails, then by all means send an email out, too. You may have to pay for the list. A moderate processing fee is fairly standard. But some trade shows try to turn the list into a profit center; they charge far more than needed to cover the actual data processing and administrative labor cost required to put that list in your hands. These shows may charge $500 or more for their pre-show list.

Tags

Links

Actual for You - Business Growth Strageties Your 4 Part Marketing Plan

Related Articles: