So you convert four prospects out of ten. Does a 40% success rate mean you are wasting 60% of your marketing budget? No, but maybe some sales training could increase your rate to 60% – and that would up your turnover by 50%!
Here are a few tips that may prove valuable
Get yourself into the proper frame of mind. You can’t expect to do a good job if you are still fuming about the idiot who cut you up on your way to the appointment. Let go of the day’s frustrations and concentrate on the customer.
Find some common ground. Sometimes this means talking about (or letting the customer talk about) last night’s football or the awful state of the country before getting down to business. Just don’t let it get out of hand!
Clearly identify the customer’s need. It’s a cliché but don’t try to sell the drill bit – sell the hole!
Use their words, not yours. Sometimes we get carried away with our own clever jargon. If the customer wants ‘plenty of loft space’, don’t turn it into ’30 square metres of unobtrusive storage solution’.
Paint attractive word pictures. Ask the customer to ‘imagine yourself driving through the countryside in your new convertible on a sunny day’.
Use positive reinforcement. When the customer himself talks about the benefits of ownership, don’t be tempted to add lots more features – (s)he knows what (s)he wants. So just agree and ask for the order.
Put yourself in their shoes. Try to see things from the customer’s viewpoint; ask yourself, ‘Would I buy it from me?’ If you can’t convince yourself ….
When they suggest a feature they want, ask questions. ‘Why is that important to you?’ The more you ask, the more you will understand what they are looking for and the better you will be able to match your product to their requirements.
Always be credible. Don’t make outrageous claims. Most customers can spot them and the ones that don’t come back looking for refunds when they discover the truth.
Be prepared to say no if you believe they are making a mistake. It’s awfully hard to turn down a sale but they will thank you and probably become your most loyal customer in the future.
Email is consistently ranked as the No 1 marketing ROI (return on investment) activity.
However, 95% of the small business owners that I speak to are not doing it, 4% are doing it badly and 1% are making a fortune from it.
Typically business owners tell me:
We email our list every now and then
I don’t know what to say …
I don’t want to spam people
People will get mad if I email too often
Email marketing is dying
In my world there is nothing boring about doubling your business. Personally, I rarely send out an email without making money – and I send out lots of emails every week.
I believe that there is no faster, easier or more cost-effective way to generate sales than email marketing.
But how do you join the 1%?
Here are my top seven tips for effective email marketing:
Keep in touch on a regular basis
Be happy for people to unsubscribe from your list (they are not interested)
Don’t sell most of the time. Rather, educate and position yourself or your business as the ‘go to’ expert in your niche
Write effective copy
Make sure you test different formats, including plain text and plain text using html
Try video email marketing
The added bonus tip …
And this one is the BIG ONE!
Don’t give up. So many people that I speak to tell me: “I have tried email marketing and it didn’t work. We sent out an email in January, another in February and again in March and we have won no business.” This is like meeting a man or woman in a bar and hoping to build that relationship by sending out a monthly email. It simply doesn’t work.
Rather, is it best practice to keep in touch at least weekly, to phone these people and to arrange to meet them at events etc.
One of the biggest marketing mistakes that I see in business is not using multiple routes to market. So many businesses get stuck in the “We rely on referrals”, or “BNI is the only marketing we do” mindset!
The truth is that this mindset is simply costing these companies money in lost leads, sales and repeat business. There are so many different routes to market (or income streams, as I like to call them). Why would you not use a profitable income stream? Here are just some of the Multiple Routes to Market for you to think about using:
Search engine optimisation
Search engine marketing
How many are you using? On a scale of 1 to 10 how effective are these methods and what do you need to do in order to improve them?
Business Coaching UK – 90% of Marketing does not work
I have failed many times in marketing; to be honest I have probably made more mistakes than most. However, in this process of finding out what does not work, I have also found out what does work – and, believe it or not, in my opinion 90%+ of Marketing undertaken by small businesses does not work.
It is a bit like trying to lose weight. We give it a go for a month or two and because we don’t get results straight away we give up. I often hear small business owners making sweeping statements like:
Email marketing does not work in our industry
Our website is a brochure site
PPC advertising is a waste of money
Facebook is not for business
I don’t win leads on LinkedIn. I just use it to connect with people
The truth is that all these things work some of the time, but most small business owners try to implement these strategies without any training, or understanding of these modern marketing methods.
It is not that the above marketing does not work; rather, it is that it was done in a way that did not work.
Here is the truth
“It is not that you are doing the wrong marketing. It is that you are doing the right marketing, in the wrong way.”
So, the keys to your successful marketing are:
Keep going. Be consistent and don’t give in too early.
Change your approach. If your marketing is not producing the results you want then something is wrong. Test different headlines, copy, offers, target market, use of video, pictures, etc.
Measure what is working and what is not.
Marketing in 2015 is not as simple as it once was. Any fool can place an advert in the Yellow Pages, but most people do not understand modern digital methods, so you need to undertake training, or get advice in this.
Need help? Call The Prudent Marketing Team on 01256 345556.
Why you need to use Multiple Streams of Income. I am often proudly told …
“We don’t do any marketing, we just rely on referrals.” On one hand that is great, but on the other it is costing businesses thousands, or even millions, in lost income and profit.
Let me explain …
The great things about referral leads is they they prove you are doing a good job (or you would not get referrals). They are also great because they are generally free (unless you incentivise people for giving you referrals).
However, here is the problem …
Relying on the good will of others in the hope that they will help you to grow your business is never a great idea. Having a system which creates multiple streams of income is far more effective.
What is worse about the “one income stream” approach …
What is worse is that if you don’t do any marketing and simply rely on referrals, then you miss out on what I call the multiple stream of income effect. Here is what I mean. If you are not winning business from your website, then you are leaking money. If you are not using email marketing, then you are certainly leaving a pot of gold on the table that you are not claiming as yours. If you are not using LinkedIn properly and professionally, then there is another pot of gold that you are missing out on; and if you are not using the many other digital marketing methods, then again you are losing out.
What is the solution?
The key is to create “Multiple Streams of Income”. In other words to use multiple ways of winning business. Can I ask you a question? Can you think of any big successful business that does not use Multiple Marketing Streams (apart from a few pyramid schemes)? The key is always action, but the truth is that you need to take “Prudent Action”. In other words, don’t throw loads of money, time and effort at this, but rather spend time testing and measuring your results.
Remember this …
Don’t listen to people like me telling you this will work or that will work and that you should spend thousands on a new website, or on PPC Advertising. Instead, invest in a small amount in “testing” your sales and marketing in order to get to know your real marketing numbers.
A key thought …
Once you know that for every marketing £1 that you spend, you get £10 back, you have an infinite marketing budget!
The No 1 rule of a Marketing Checklist has got to be to test everything. In other words, you need to test each element of your marketing and then improve it. So, if you want to be more Prudent with your marketing, then test to improve performance. I have known testing a headline to triple orders. I have known testing the use of video on a website to create a 500%+ increase in enquiries and sales. I have known a 1,200% increase in enquiries by testing copy, pictures, headlines, video, target market, media etc. So test, test test!
2. Speak out loud
“He who whispers down a well about the things that he can sell, will not make those shinny dollars like he who climbs a tree and hollers”. Are you a best kept secret? Well, shame on you!
3. Make it feel like valuable education and news
The days of going up to someone and saying “Do you want to buy this?” are almost over. The truth is now that we are smarter than that and smart marketers are doing more nurturing and educating than cold selling. In essence it is more about getting people to know you, like you and trust you.
4. Narrow your niche
How broad is your niche? No matter how broad or niched it is the question is how could you narrow your niche. Or create a niche within a niche. The three key questions that you need to ask to establish a niche is:
– Are they hungry?
– Are they satisfied?
– Are there enough of them?
5. Measure your results
In over 20 years of providing marketing advice, support and training to businesses, the single biggest mistake that I come across again and again is not measuring marketing results. And yet we all know the old saying: “You cannot manage what you do not measure”.
Need more help, then book in for a marketing review.