Many business owners either aren’t aware of this, or feel it’s working against them! Here we explore this model in order that you may exploit it to your advantage.

Marketing

Marketing is all about getting your message across to the right people, so that they know what is available, that you offer that product or service, and why they should buy it from you. That message is broadcast to an audience with varying degrees of interest and need. Done well, it will persuade some of them to qualify themselves as cool prospects, often called Leads.

System

A good well crafted marketing system will work on those Leads to move them closer to a buying decision. Not all of them are immediate buyers, even if their needs are a close fit to your offerings, so in part the system needs to nurture the “not today” leads until the time is right for them. That means you build strong rapport in that period, while remaining very much ‘front of mind’ with those hard-won leads. Typically, we’d build in a “temperature test” to gauge immediate interest, then channel “now buyers” separately to the others. That same test would be repeated at regular intervals, to ensure they are receiving the right, most appropriate, messages from you. This is part of the Conversion process.

Conversion

We can only Convert the “now buyers”, but this approach means that warm leads require less hard sales tactics, if any at all, which means your Conversion Rate should improve. Are you starting to see how this Profit Formula can work for you?

Now that your conversions are better informed by this stage, it doesn’t seem far fetched to believe that they may buy more of your offering than was previously the case. There is also more probability that they will return with repeat business more frequently, especially if you employ another marketing loop to educate existing customers or clients.

With such a systematic approach as this, you should expect less resistance to modest price increases, for the greater sales volume achieved.

Strategies

Now if you had access to cutting edge marketing strategies, that could be applied to refine the above model even more, greater improvements become realistic, and affordable, because you would know what outcome to expect from such a systematic approach.

Illustration

The following table illustrates how a business might see rapid improvements from merely creating and implementing a system as outlined above. The third column shows how modest 10% improvements to the key figures further grows the profits in that business significantly, maybe from applying new marketing strategies. So where is your business right now? The end column allows you to slot in your numbers, or best estimates, and to see how you compare.

  Original Add System Then + 10% Your numbers
Audience ? 8,000? 100,000 100,000  
Response %   10% 11%  
Leads 8,000 10,000 11,000  
Conversion % 10% 12% 13.2%  
Customers 800 1,200 1,452  
Order Value £250 £260 £286  
Order frequency 2 2.1 2.3  
Sales £400,000 £655,200 £955,125  
Gross Margin % 50% 50% 55%  
Gross Profit £200,000 £327,600 £525,319  

Resources

This is the power you can tap into from resources I can share with you. This can not only double or triple your profits, but it can also create exponential growth for your business starting today. When you use all of our tools, resources and templates… along with the powerful audio and video training we make available to you … you will immediately begin to see results just like this. And you can even have me hold your hand and guide you through the best way to implement this in your business to accelerate these improvements.

Next steps

To discover more, please contact John Holder on 01788 812050, or [email protected]

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happy customers
If you market and sell new products to your existing customers, and spend less time trying to sell old products to new customers, you too will see a dramatic improvement in your sales, customer quality and branding position.

Educate

Educate them about what, you may be thinking. Well, consider this, many businesses focus solely on attracting new customers, but you NEED to spend a good chunk of your time retaining current and former customers. These are people you already know to have good sales potential…they’ve already bought from you!

Retention

Here are a couple of key elements to use to retain your current customers:
1. Stay in contact: This means by phone, email, e-newsletter, in person-by carrier pigeon if you have too!
2. Post-Purchase Assurance: This means you need to follow up with customers. Your customers need to feel like they are appreciated and being supported for their business and with the item they purchased. How many times have you purchased a product, then felt completely abandoned? Something as simple as a Thank You note with your contact or customer service information can go along way in retaining a great customer.
3. Deals & Guarantees: Always offer your current customers the best deals and guarantees you have. Show them you appreciate their business or even come up with a club specifically to reward loyal customers. You can also do this with a preferred pricing option. The opposite approach to that of the Insurance sector over recent times!
4. Integrity: Using good business practices, simply upholding integrity, dignity and honesty goes a long way with customers. Let’s face it, there’s a lot of swindling and dross out there. So the safer, and more confident you make your customers feel, the more they will trust you. Which makes for an amazingly supportive and loyal customer.

Success

There are three cornerstone ideas to a successful business:

  • Quality product/service
  • Offering useful products/services that solve a problem for or enhance the life of a customer
  • Offer subjects your customers find interesting

By using this approach of educating your customers, offering them real information & insights, you will be rewarded with loyalty and success.
Stop wasting all your time on new prospects while your current customers fall by the wayside!

Jay Abraham

As Jay Abraham says, “Your best prospects are your existing customers. If you’ve been putting all your marketing efforts into acquiring new customers, stop and divert some of your resources into reselling, upselling, cross-selling to those same customers. In every way possible – through package inserts, regular mailings, special offers – stay in touch with those customers and get them used to buying from you.”

So, there it is! Please share your thoughts, insights or questions about this.

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Sample Report section

Many businesses rely upon digital marketing to generate sales. But many are not doing it well. Which makes it at best needlessly expensive, or at worst ineffectual.

Diagnostic Tool

To analyse such systems, I have a new diagnostic tool which identifies what works well, and what needs improving. The end result is a report on what changes are necessary, and a road map for how to implement them.

Service Options

This service is delivered safely, on-line, protecting both parties in one of the following forms:

  1. Approximately 1 hour will allow us to take the Jumpstart or Quick Look, which for many is sufficient to get them moving in the right direction. This covers 12 aspects.
  2. Approximately half a day allows the Deepdive or In Depth analysis, which covers 40 aspects in finer detail. This option is ideal for a business heavily dependant upon digital marketing, where it is mission critical to get it absolutely right. This option may be delivered in a series of shorter slots, if that suits you better.

Next Steps

Now is the opportune moment to avail yourself of this new service. Due to ongoing Covid-19 chaos, we all need to get better at marketing without physical face-to-face meetings, so more businesses are forced into digital marketing.

To find out more, and to arrange your session(s) please share your details below:-

    Your Name *

    Your Email *

    Telephone Number

    Digital Marketing Diagnostic

    Message *

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    John Holder's Casebook

    The reason for sharing this case is that the client was suffering from some very common problems, seen in many other businesses by this Business Growth Specialist. They had effectively only one offering.

    1. There was no scope to upsell, down-sell or cross-sell.
    2. There was no deluxe version.
    3. They were working in the dark, suffering a total lack of knowledge about what was going on in their business. There was no clarity. There was no analysed data to help them identify where they make their best profit, and where they make less. This issue is, alarmingly, all too common. Managers have to operate with inadequate accounting systems. Or their systems are just not set up in a way to provide them the kind of analysis they truly require.

    If this describes your situation too, there are simple steps to resolve these issues, covered below!

    The Client

    The client happened to be in Financial Services (I use that term in the loosest sense).

    How was this problem affecting them? Well, they had effectively a single offering, but it was tailored to the needs of each individual client. Therefore, if facility A is the best fit for a client rather than facility B, that is what they will be sold since that represents the best value for them. There was a Rolls-Royce version, facility E, but that is only sold to those rare people that truly need that higher level of functionality. But because they only offered the right fit solution for any client, there is no bells and whistles premium product, so there’s no scope for an upsell.

    There is a token gesture element of slight cross-selling, which gives them the opportunity to get back in front of the client slightly more frequently in case anything has changed, such that they can perhaps refine the service provided a little bit better, but they really do have a major challenge. What’s the answer in that situation?

    In my opinion, you have to be really, really good at what you do when in that position, so that you are the dominant player, the natural choice for people who need that particular product or service you happen to be selling, so that you get the lion’s share of that market, even though you have no upsell, cross-sell or down-sell whatever.

    Definitions

    Let’s take a moment to demystify the above terms. If you were to visit a car showroom with a particular model in mind, for example a Ford Focus. If then as you explored the various options, the functionality, the equipment levels and how you would use the vehicle, it became clear that in reality you might need, or you might get better value shall we say, from a Mondeo instead of that Focus. That is a classic example of an upsell. It might just be that you went in expecting to buy the standard, not the basic but the standard level and they sold you to a higher spec, possibly they persuaded you that you should go for a bigger engine. It still has the same effect, that they’re parting you with more cash. That is an upsell.

    If instead you realised while there that you could not afford to buy the car of your choice new, they would probably suggest that you buy a pre-owned model, which is now affordable within your budget. They are keeping you as a customer, but they’re not parting you with quite as much money as they had hoped, and you had originally anticipated. That is a down-sell.

    Oh and while they’re at it, if they then sold you an extended warranty, together with some accessories to go in the car, that is a cross-sell because it’s something additional to what you originally intended to buy. It all makes sense when you put it in those terms, doesn’t it?

    Innovation

    If your situation is that you too lack a range of models, you don’t have budget alternatives (pre-owned in the above), you don’t have a deluxe offering, how can you exploit these concepts in your business too? How can you generate that extra profit that comes from having such offerings? Differentiation is the answer, through Innovation, which doesn’t necessarily mean a high-tech advanced design exercise. Further examples and ideas appear in Premium pricing … priceless?

    This can be merely thinking through a different process and/or what else you could offer the same customer base that they would value. That you, as a trusted provider, could sell to them, and make a good profit on. Even if you’re buying in and reselling somebody else’s product or service. Now there’s a thought! Or perhaps a way of deluxe-ing what you offer is to come up with a bundle. We are familiar with bundling where you can buy just a PC. But you might be offered a PC with a monitor and a mouse and a keyboard, sometimes even with a printer, and if you add up the individual components it looks as though it’s a very attractive deal for you. That is bundling.

    So who else’s complementary product or service could you sell to your customers alongside of and to augment your product or service, that your customer base would value? That you could make a good profit on, and with virtually no additional marketing cost to you? That’s an interesting challenge for you!

    Data Gap

    There was no measure of profitability on the various levels of facility. Ooops! They knew this was a problem, our session merely confirmed in their minds that this was an issue that needed to be addressed, and quickly. Then there was the ongoing service, going through that facility. How profitable is that? It’s a variable, a moving feast, depending on how much activity the client has over a period of time. How does that impinge on the profitability or otherwise of the service? Impossible to say, with no data to support a decision or an opinion, one way or the other.

    It’s a challenge isn’t it? The obvious solution is to start monitoring the data in a better way, then at least they can see how to move forward and hopefully identify who the ideal client or customer would be. That is in terms of which facility they would have, what volume of transactions they would need to have, etc in order to make them a really good profitable client for the business in point.

    Measurement

    This is something which can be fixed. In exactly the same way, if you have no measurements going on in your marketing right now,  you  have no understanding of what is and what is not working well. Similarly if you have no clear view as to who are your better prospects and/or your ideal customers. These are issues which we can address;  we might begin with an estimate, then start gathering data to prove or disprove that estimate. As we add more data and refine it so we can identify the biggest problem; you have to start somewhere. If you don’t have any data at all currently, now is a good time to start collecting it.

    What if I’m collecting the wrong data, you ask? Well, I’m not sure there is such a thing as “wrong data”! You may realise later that there is better data, which will mean more to you, and help you take better decisions. That will become apparent with the passage of time so that you can then start measuring additional metric points. Pulse Points I call them, because they are measuring the life flow of the business. Very often these are non-financial.

    If you would like help with evolving such ideas, please get in touch, either here or by email to [email protected].

     

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    It has taken the #Covid-19 virus to cause me to examine both my actions and my motives as a business adviser. You see, as a business strategist, I’m supposed to:

    • lead
    • inspire
    • cause change
    • positively impact those around me

    … and especially those that need help in this time of economic crisis.

    Resources

    I’ve been sitting at my desk with literally mountains of business growth experience, tools and systems at my disposal … but with only self-centered thoughts about how this might impact my family. I finally realised I was focused on myself instead of the wider community, and for this, I’m sorry.

    Affordable for all

    For this reason, until further notice, any business owner / chief exec can now enjoy my group at a drastically reduced fee. During this crisis, instead of the regular £497/month, you need only pay £147/month so it’s affordable for everyone, and you also have a 200% ROI guarantee. That is, at the end of the month, if you don’t think you received at least double the value from that monthly fee, just let me know and I’ll refund that month’s payment, no questions asked.

    Safe & comfortable

    To keep us all safe, we will meet on-line, in a virtual environment so we can come together without placing ourselves and our loved ones at risk.

    Format

    Just so you know what to expect, in each session you’ll learn:

    • how to generate more leads
    • close more sales
    • what steps you can take when things settle down that will help you generate immediate revenue with increased profits.

    Following that, I’ll open up the virtual forum for questions, masterminding solutions, and general problem solving.

    You will receive my best advice, share in all my marketing and business growth secrets, and have all your questions answered. And the following week, we’ll do it again. And we’ll keep going for as long as this crisis lasts.

    We’re going to be 100% proactive and results-oriented in these sessions, with no fluff and no theory.

    I’m here to serve my community by facilitating this.

    Join us now and you will replace confusion & uncertainty with confidence. You will gain:-

    Clarity

    • about how to survive
    • about why your customers buy from you
    • and about your message to resonate with more prospects

    Consistency

    • in your message
    • through all channels
    • by all your team

     

    Control

    • through systemised processes that will deliver results when required
    • plus taking back control of your own future
    sign up now

     

     

    If however you prefer more details before you start reaping these benefits, rather than facing this battle alone, please see here http://profit-growth.co.uk/mm/.

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    As a recognised local Business Growth Specialist, John Holder was interviewed on Radio Plus, which you may listen to here:-