A few years back, I was out on the ski slopes in Vermont, following my son Evan down an icy trail. I got going a bit too fast and took a fall and landed head first on the rock hard snow.
When I got up, I was a bit dazed, and Evan asked me if I realized I was bleeding. (I hadn’t.) It was just a trickle, so I… Read More »
Building a business that grows steadily in size and profits is like building your dream house.
First, you identify what kind of home you want, then you and your architect plan and create blueprints for your house, then you build it, move in and enjoy it.
Now imagine that you didn’t have the time to plan your home but went ahead and hired a builder to get started. How would he or she know what to build?
The other day, I asked my Facebook friends for ideas on what to write about for this blog post. I received responses from six or seven people, but the last suggestion, from my friend Steve, made me smile and then made me think. His suggestion?
“What do I do now?”
Is that a question you’ve asked yourself recently about your small business marketing plan?
For most entrepreneurs and small business owners, the past 18 months have been tough. It doesn’t matter how smart you are or how great your products and services are, in the midst of a recession it can be easy to get bogged down and watch while your profits plummet.
Most summers for the last 50 plus years, I’ve spent a week or more on the coast of Maine. And much of that time has been spent in boats: rowboats, canoes, kayaks, sailboats and small motorboats.
When the sun shines and the sky is blue, it’s easy to go for a picnic or motor across to the nearest store to pick up groceries. But when the Maine fog rolls in and blankets the bay, it’s easy to get disoriented and lost.
The current recession is just like a big, damp, cold fog bank for most small business marketing plans. It’s disorienting and many people are panicking and losing sales and money.
What can you do?
Discover what works even in a recession
Years ago, I discovered that with a few simple skills I could navigate through the thickest fog and magically get where I wanted to go, most of the time, much to the surprise of my friends. Now with a GPS it’s so easy anyone can do it.
The same is true with your small business marketing plan. Once you know how to stay focused and navigate through this recession you’ll amaze yourself as you see profits pouring in.
Use the following five steps:
1. Begin with an urgent and compelling goal.
Pick a goal that’s vital to the success of your small business marketing plan. It could be lead generation, referrals, increasing repeat sales, customer retention, etc. But whatever you pick, it should be so important that it motivates you to follow through.
2. Pick something you can accomplish within a few weeks, a month at most.
If your goal is to write a book, identify a short-term sub goal, such as completing the first chapter.
Or if you want to get referrals, you could start by writing the sequence of questions you’d use to get existing clients to tell you how much they love your products or services and than to get them to give you 1-2 names of people they’ll help you contact.
3. Pick something you can measure.
Improving customer service is a nice idea, but you need a specific sub goal you can measure. Increasing repeat sales this month would be a good measureable goal.
4. Make sure the larger goal and the sub-goal you have picked is one that everyone on your team can commit to.
If half your team doesn’t agree that it’s urgent, it won’t happen.
If everyone can agree, for example, that they’ll focus on adding one more sales partner each month, it’s more likely to happen.
5. Pick a goal you can accomplish with the people and resources you have.
That way you’re not dependent on additional funds or new resources.
That’s it. Now get started.
Pick an urgent small business marketing goal, stay focused and you’ll be amazed at what you can accomplish. Anyone with motivation and determination can bring in more sales this way.
– Charlie
P.S. Remember, that to change the behavior of your prospects, to get more people buying, you first need to change your own behavior.
P.P.S. Ready to stop struggling and start profiting from your small business marketing plan in this recession?
Get a team of experts working for you
| About Charlie Cook Related Resources More Posts by Charlie Cook To discover the easy and inexpensive ways anyone can attract more clients and maximize their profits, sign up for your FREE Profit Now Report. |
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Which are you, a dreamer or a doer?
If you’re a doer (not a dreamer) I’d like to talk with you and see if you qualify for my small business marketing MasterMind Group, a group of savvy entrepreneurs and small business owners dedicated to helping each other succeed.
It’s crunch time!
As I’m sure you know this recession is one of the worst we’ve had since the Great Depression our parents lived through and it’s going to take a while for things to turn around.
The entrepreneurs and small business owners who are going to come out on top, the ones who will make profits even in the midst of the recession will do so due to one thing.
So if you’re interested in significantly increasing your sales this year, I’d like to talk with you about how to leverage your small business marketing to increase your income.
If you want direct access, up close and personal, to me and my over 20 years of Million Dollar Generating Marketing Know-How…then you’re invited to join me, marketing coach Charlie Cook, and just 26 other success-minded small business owners and entrepreneurs in my small business marketing MasterMind Group.
Interested? Get the details here >>
– Charlie Cook
P.S. This is only for doers, not dreamers. It’s for people who are passionate about their small businesses, their customers and the products and services they provide. People ready to tune up their small business marketing so they can profit from this recession.
P.P.S. My one-on-one coaching program has been sold out for months and currently the only way you can get access to me personally is by joining the small business marketing MasterMind Group.
P.P.P.S. This is only for people who have an existing established business and want to take it to the next level. It’s not for opportunity seekers, newbies, or people who are begging for business.
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Even the smartest people I know make mistakes, really big ones. In fact they make more than most. But they are still very successful in small business — and in life.
What is it that winners do that separates them from people who are always struggling?
One of the smartest people that I know is a doctor who retired just last month. He and his wife, both very experienced sailors, had made plans to spend several weeks cruising the coast of Maine. In preparation, the doctor did a lot of work this spring on their 36-foot sailboat, including taking off and refurbishing the propeller and then putting it back on.
When they launched the boat and started to back it off the trailer, though, the doctor discovered he’d made a major mistake (Marketing Tip: don’t make this mistake). When he shifted the motor into reverse, the engine pushed the boat forward and when he shifted it into forward, the boat went backwards.
He quickly arranged to have the sailboat hauled to the local boat yard and made a point of being there when the repair was made. He wanted the mechanic to show him exactly what he’d done wrong when he reinstalled the propeller.
He wanted to learn how to avoid making the same mistake the next time around, get the boat moving forward when he shifted it into forward gear, and get the cruise underway.
And that’s what winners do.
They don’t hide or ignore mistakes or missteps. They acknowledge them, even celebrate what they learned from the situation, and move on.
Anyone can use this simple, no-cost marketing tip to continually get smarter and make more money.
Over the last few decades I’ve seen hundreds of people double or triple their profits within months, and I’ve seen a handful never get where they want to go.
You’ve seen the same thing. Two smart people from the same school end up in two very different places. One as the CEO pulling in a huge salary with generous stock options, the other struggling to make ends meet.
What’s the single most important difference between winners and losers? It’s not just that they make more marketing mistakes.
Winners are quicker to learn and adjust their course to reach their goals! The difference is…
Marketing Tip: The Speed of Course Correction.
Imagine you are in a canoe race where the objective is to paddle across a lake to the finish line on the far side. You and your fellow competitors all have the same strength, paddling experience and start at the same time.
You’re headed for the finish line and paddling hard when a breeze picks up and begins to push all the canoes sideways. Can you predict who will win the race?
The winners will be the team that notices the change in the conditions and adjusts their course the quickest. They’ll win by being the fastest to make the adjustments that will give the shortest possible route to their destination.
Everyone wants a straight path to success, but obstacles get in the way; competitors, recessions, marketing that doesn’t get a response, the shifting interests of your clients; the list is endless if you see it that way.
The business people who end up on top are quick to acknowledge that things are off course. They continually make the changes necessary to reach their goals.
What’s the fastest way for you to stay in the winners’ lane?
Marketing Tip #1. Learn to Love Mistakes
When I had my first website in the mid ‘90s it cost me $35,000 and it was more or less a flop. It barely made any money.
I could have thrown up my hands and decided that the Internet was a total waste of time. Instead I chose to get the most I could out of my $35,000 blooper.
I took it as a challenge to discover which mistakes I’d made and what to do differently the next time around. I sold my second website a year later for just under a million dollars.
I made a big mistake, learned all I could from it, and turned that knowledge into a big success. You can do the same.
Marketing Tip #2. Acknowledge Mistakes Right Away
I talked to a business owner, a specialty clothing retailer, who told me he’d spent $7,000 on Yellow Page ads. When I asked him how many customers the ads had generated, he said none. The following month he signed up with the Yellow Pages again. What’s wrong with this picture?
If you’re not getting the results you want from your marketing, admit that your current strategy needs to be adjusted, if not totally replaced. Let go of the strategies and tactics that aren’t working and make room for new, more effective ones.
My doctor friend who put his propeller on backwards could have just kept the problem a secret and lived with it for the summer, remembering to put the boat in reverse when he wanted to go forward.
Or he could have tried to fix the propeller himself, hoping he could figure it out on his own the second time around. Instead, he admitted his mistake, sought expert advice, learned from his mistake and set off for a great vacation.
Marketing Tip #3. Be Ready to Change Course
Over and over I hear the same things from small business owners struggling with their marketing. They tell me:
“I’m sure that idea won’t work for me.”
“I know that already.”
“I can’t find anyone to help me.”
“I just want someone to hand me a blueprint.”
These are excuses to keep doing the same thing, even if it isn’t working.
Winners recognize mistakes and grab at new marketing ideas. They put them to the test, track the results and continually fine-tune the ways they market and manage their businesses.
I have many clients who’ve done just that, and more than one who doubled their income last year in the midst of a lousy economy. They jumped on the ideas I gave them and put them into practice.
You can be a winner, too. Your business goals are within reach. To achieve them, be willing to make mistakes; admit them; learn from them and take corrective action, quickly.
Want to get the help you need to get to the top? Start here >>
– Charlie
P.S. Wish you had a clear idea of what works and what to do to generate more leads, close more sales and maximize your profits? Each month I interview one of the top marketing or sales experts or entrepreneurs, all who have made a ton of mistakes and learned what works and doesn’t work.
Find out the fastest ways to grow your business from these interviews. And if that isn’t enough, I take the most important tactic from the conversation and detail exactly how to implement it. It’s practically done for you.
Ready to get more business and increase your profits? Click here >>
“If you don’t make mistakes, if you don’t have failures you’ll never learn…too often I find people, they make a mistake, they don’t take the lessons from that and they make it again and again. So spend the time to figure out what you can learn from it so you don’t ever repeat it.” Indra Nooyi, Pepsico, CEO
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“Can I make this business profitable?” Jim from Kansas City, Kansas asked me a few weeks ago.
Jim installs glass into existing steel or fiberglass front doors, bringing much needed light into homes and increasing their resale value. He has a steady stream of customers and has increased his customer base each of the 8 years he’s been in business.
Yet he was just breaking even before the recession and is now losing money.
What’s the problem?
Any small business marketing that is built around selling just one product or service is going to struggle. In Jim’s case, his only opportunity to resell to past customers is when — or if— they move into a new home. He has to find a new customer to make almost every sale.
BIG MISTAKE!
Finding new prospects and converting them to customers is the hardest part of growing your business.
Once you have a satisfied customer you can sell to them again and again. To run a profitable business, you want to offer a number of related products or services or a service or product that people need more than one time.
Once you have a satisfied customer, you can sell to them again and again. It’s ten times easier to sell an existing customer than to start from scratch with a new one.
Discover the easiest way to attract a steady stream of profits >>
I asked my barber what his life would be like if he had to find sixteen new customers every day. He looked at me as if I were crazy. He only needs to attract new customers periodically when an existing customer moves away or goes bald.
Jim simply does not have a profitable business model. Instead of using each sale to a new customer to generate additional sales, he’s stuck on a permanent treadmill, constantly needing to find new customers and trying to close the next first sale.
Is It A Hobby?
If you only have one product or service to sell and it’s not something people need over and over, you don’t have a business, you have a hobby. There is no way to grow your business and your income. You’ll always be struggling to make a profit.
Ready to stop working so hard, and make more with less effort? >>
To be profitable, you need to attract first time customers and then sell them multiple products and services or help them buy again and again.
Here’s the sequence that generates profits:
1. Attract prospects to your mailing list
2. First time sale
3. Up-sell or cross-sell a higher price point product,
4. Sign them up for an on-going service and help them
5. Create customers for life (well at least for a year at a time).
Of course there are many variations, but the goal is the same; leverage the first sale into additional revenue so you maximize the value of each customer.
That’s what my trainer did when he signed me for an annual season pass to the gym. That’s what my HVAC company did when they signed us up for an annual maintenance contract.
That’s what the phone company does too. They get you in the funnel with an incredible deal on a cell phone and then sign you up for a two-year contract.
WalMart uses the same strategy. They put the lowest, practically free item at the end of the aisle to get you in to the store. Most people buy a higher priced more feature-laden version, and pick up a handful of other items while they are in the store.
Without a marketing funnel, a way of up-selling or cross-selling – you’ll be permanently frustrated and perpetually broke.
Want to stop being frustrated and start making more with your small business marketing? Start here >>
Is there anything Jim can do to turn his “hobby” into a business?
Absolutely. Jim could expand the services and products he offers to meet more of his customers’ needs. He could offer replacement windows and window washing, for example, and have sales partnerships with people who clean carpets, refinish floors, and do home renovations.
By offering just a few of these related services he could easily double his income within a month or two and have a wildly profitable business. But he didn’t want to change his business model. Last I heard he was headed for bankruptcy instead.
If you just want to be busy, get a hobby.
If you want to make money, your business model needs to systematically help first time customers buy from you again and again so that you make more with less effort. It’s not complicated, and you can easily increase your income by 50% or more within weeks.
– Charlie
P.S. Tired of just being busy? Want to find how to find out the proven formula for attracting clients and profits?
Use this small business marketing blueprint to get the profits you want >>
P.P.S. I’ve known people who worked 50 to 80 hours a week just to make ends meet, when they had an untapped goldmine in their hands. Find out how easy it is to get all the business you want and see your income grow.
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Over 20 years ago, I rented an office in downtown Old Greenwich, Connecticut, across the street from the best sandwich shop in town. The first time I went into the shop, I noticed that the menu was a copy of an original created on a typewriter.
The thing was barely legible and made worse by scratched out prices with new ones scribbled in. The menus hardly reflected the quality of owner Gary’s creative and delicious sandwiches.
The proud owner of a new computer and state of the art laser printer, I took one of his menus back to my office, reformatted it in an easy to read typeface, and printed a stack of them. The next day when I went to order my sandwich, I offered Gary the professional-looking menus as a present.
Gary was so pleased that he made my sandwiches free for two weeks and gives me a $2 discount on every sandwich I buy to this day.
Discover how you can profit from the law of reciprocity marketing strategies >>
My friend John used the same basic law of human behavior to get help.
Ten years ago John bought a 28’ Corsair sailboat, a larger version of the 24’ trimaran that I sail. With limited experience with large sailboats, launching this boat in the spring and hauling it out of the water in the fall was beyond what John could manage on his own.
So John asked if he could help me launch my boat and if I’d help him in return, and we’d get both boats taken care of the same day.
For the last ten years, at the beginning and end of the summer, we’ve helped each other launch and haul our boats. It’s a fair amount of work, but by now we’ve got it down to a science and we enjoy each other’s company and the reciprocity.
I’m sure you use the “law” of reciprocity in your life; now put it to work in your marketing strategies.
Find out the marketing strategies to make more without selling >>
Six Marketing Strategies To Make More Money
It’s simple; when a person does something for you that you value, you feel an obligation to that person. You’d like to repay the good deed.
How can you use this basic — and surprisingly powerful — fact of human behavior to grow your small business and make more money?
You can use it to:
1. Generate leads
Give away a free report or mp3 that has value to your prospects, and they’ll return the favor by giving you their contact information. Then you can start building a relationship with them. Almost every successful Internet marketer uses this marketing strategy, and it works for marketing offline, too.
Want more ideas on generating leads? >>
2. Sign up new clients
I know many consultants who regularly speak for local chambers of commerce or for industry association gatherings. They share their best ideas and, in return, walk away from each talk with a handful of new clients.
Other successful firms attract prospects with free seminars. For example, if you’re an investment advisor you could offer a seminar on wisely managing investments during a recession. One local financial firm used this marketing strategy and added $40 million in new assets within six months — without making a single sales call.
3. Sell more products
I recently offered a free teleseminar on copywriting to my entire mailing list. It took me almost a week to put it together and cost me hundreds of dollars, but I it was well worthwhile.
The comments I got from people who participated were very positive. They loved the content and expressed their interest in large numbers by taking advantage of the one-time trial offer associated with the call.
If you want people to buy from you, start the process by giving them something of value.
Interested in selling more?
4. Build your membership program
Getting people to make a commitment to pay a monthly fee for a year or more is a huge marketing challenge. The easiest way to overcome this is to give prospects the first month or two for free. Then give them relevant and useful content, and they’ll stay in and keep paying.
It’s a simple marketing strategy that most magazine publishers use, because it works!
5. Get more readers for your blog and your tweets
Want more people to read your blog? To get other bloggers to link to your blog, provide a link to theirs on your site. Then contact them and they’ll be much more likely to return the favor.
The same is true with Twitter. If you want more followers, sign up to follow the people you want following you. At least 70% will return the favor and start following your tweets.
6. Get a bigger tip
(I know most of you aren’t working as a waiter or waitress but I just wanted to include this one to show you the power of the law of reciprocity.)
Waitress and waiters increase their tips in two ways in addition to being there when you need them. One tactic is to include a mint or small candy with your check when they bring it at the end of the meal. Research shows that patrons leave 25 to 30% larger tips when candy is included with the check.
Another marketing strategy used in the restaurant industry is to share a “secret”. When you’re ordering, the waitress may whisper to you that the pork dish you wanted isn’t one she would suggest, and then she gives you a couple of personal recommendations.
When the check arrives, patrons who were given the “secret” recommendation leave larger tips.
Discover the most cost-effective marketing strategies to increase profits >>
There are hundreds of ways to use the “law of reciprocity” to persuade prospects to contact you, to buy from and to spend more with you. Use them and see your profits grow.
– Charlie
P.S. If you’re tired of trying to ramp up your profits with selling, try giving away value. Give your prospects something they want and can use right away. In return you’ll get more business than you ever imagined and feel good about it all the way to the bank.
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“My new software application is getting rave reviews from the people who use it, but I’m having trouble making sales. What can I do to convince more prospects to buy?
– Kelly Sanders, OH
—–
Having trouble with skeptics and getting people to take action from your small business marketing?
Forty years ago I had my first experience with mail order. I know it’s hard to imagine but the Internet didn’t exist. Most people actually bought stuff in stores. Hard to believe, but true.
I’d heard about a mail order outfit called L.L.Bean. And I was interested in ordering a sleeping bag for an upcoming hiking trip I was planning. But I wasn’t sure if, sight unseen, I’d be happy with the one I’d selected from the catalog.
What got me over the hump? What got me to go ahead and make my purchase?
L.L.Bean has always had a 100% satisfaction guarantee. With it I felt confident that if I wasn’t happy, I could exchange the sleeping bag or send it back for full credit. And I’d heard stories of people making good on the guarantee and being “100% satisfied.”
Now a guarantee won’t sell your products or services by itself, but without one you won’t sell as much as you could.
Are you a skeptic?
Many of us are. It’s smart to be one. So how do you sell to skeptics?
One simple selling strategy is to eliminate any perceived risk in making a purchase. When your prospects feel confident that they’ll either love it or that they can easily get their money back, you’ve eliminated the risk, making it easier for them to give your products or services a try.
Want to convert more prospects into paying customers? Get the details >>
What stops people from buying? The fear of being ripped off…the fear of paying something for nothing…the fear of looking foolish. No question about it. If you want to turn interested, but skeptical prospects into buyers, you need to conquer fear.
What helps put that fear to rest? A risk-free guarantee of satisfaction.
In a tight economy like this one, people are especially concerned about money. Many business owners respond to those fears with lower prices, but they still can’t make sales. When you decide to take full responsibility for your customer’s satisfaction, you make it that much easier for a prospect to decide to buy from you.
Want to know how to get more people to buy from you? Start here >>
So what kind of a guarantee should you offer?
The one that will be the most meaningful to your prospects, of course.
If you offer a subscription to Forex investment tips, for example, a 6-month ‘read it, use what you learn, and then decide’ guarantee would be effective. It demonstrates that you’re so certain your system will work, that you’re willing to give the consumer 180 days to succeed with it.
A good guarantee will make sales. A risk-free guarantee will make more sales, double…even triple what you could make without one. Here are some templates for some guarantees that I’ve used successfully:
– “Subscribe today. If you think your first issue—or any issue —doesn’t deliver at least $XXX worth of ideas and information, you can tell us to take a hike. We will cancel your subscription and send a prompt refund for all un-mailed issues, no questions asked. We won’t be happy to know that we failed your value test, but that will be our problem, not yours.
– You can’t lose with our guilt-free, no-risk guarantee and access to the entire program and every one of the bonuses…all for only <$>! If <product name> is not everything we say it is and you are not completely satisfied with it, then we will refund every penny of your money with no questions asked. That’s more than a guarantee; that’s a promise.
– My guarantee is to ensure you are 100% happy with <product name>. If for any reason you are not entirely satisfied, I will refund your money. No questions asked. This is an ironclad guarantee, no ifs, and no buts. If <product name> doesn’t deliver, your money will be happily refunded. In fact, you need no reason to ask for a refund whatsoever. Just tell us the dog ate it! We trust your integrity and honesty absolutely. We take the risk and you have nothing to lose, so take your 90-day trial today.
Let me ask you one last question. Do you expect the companies you buy from to stand by their products and services?
Of course you do. Use your guarantee to let your prospects know you do the same, and you’ll turn skeptics into buyers and see your sales soar.
Interested in finding more ways to convert prospects to buyers? Find out the simple formula to increase your profits >>
– Charlie
P.S. Yes, I include a guarantee with my products. Take a look here to see it >>
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You want to increase the flow of sales revenue, but you are stymied by prospects’ seemingly endless objections. Prospects say they’re not interested. They tell you your price is too high, or this isn’t the right time. You’ve heard all the objections.
What can you do to simplify selling and get rid of these once and for all?
Engineer Your Business Marketing
When I was seven one of my favorite ways to spend a hot summer day with my friends was playing a backyard game we called “waterworks”. We’d use a trowel to construct channels in the dirt, put the hose at one end and watch the water flow.
If we wanted the water to go straight, we’d remove rocks and debris to clear a path. We became sophisticated engineers, guiding water around corners and across short aqueducts. We felt like masters of the universe, directing the water where we wanted it to go. (You can bet my mother loved seeing us come into the house covered with mud at the end of the day.)
Plan your marketing to the same way and lead prospects to your products and services the way my friends and I engineered our waterworks; by making clear paths and removing obstacles. Channel your prospects’ attention and interests and you’ll eliminate their objections.
Below are the four most common objections and ways to eliminate them.
Lack of Interest
Prospects need to understand what you do before they can become interested in what you have to offer. It is that simple. If you’re marketing yourself as a lawyer, coach, accountant or fitness center, you’re not telling people why they should be interested. To capture their interest, explain the problems you solve from their
perspective.
Lack of Leads
You want people to email you, call you or go to your web site to buy your products and services. But first you have to motivate them to contact you so you can market to them. Once you have their attention, use your conversation, your emails and your web site to ask them what they want and need.
Lack of Credibility
You want prospects to see you as the expert; the person and the firm that has the products and services they can rely on. One of the biggest challenges to attracting new clients is gaining their trust and being seen as the essential expert. Use your articles, ezine, and web site to demonstrate your expertise. Use testimonials from clients to tell prospects about the results you and your products have achieved.
Pricing Objections
Whether it is a $25 subscription or a $50,000 consulting fee, prospects object to price when they don’t understand the value of the purchase. Establish a set of questions you can use to help prospects define what they want and what you are providing. When price is put in context, it becomes much less of an obstacle.
Still not converting as many prospects to clients as you’d like?
Use questions to find out more about what they want, and what their concerns are. Then address each of these objections up front and remove them as potential sales killers.
Think of your target market as a reservoir of water waiting to be tapped. If you eliminate the barriers between them and you, you could send a steady stream of new clients and customers your way. Now, don’t just imagine it, do it.
Start eliminating your prospects’ objections and create a clear path for them to become clients and customers. Help your prospects get what they want and you’ll be selling more products and services
to more clients.
– Charlie
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