Effective Marketing System Can Thrust Your Business Forward

Effective Marketing System Can Thrust Your Business Forward - Leads2Profits.net.auAny business owner would agree that building a successful business requires a steady flow of customers; they are part and parcel of each sales transaction. But generating customers require more than just placing an ad and waiting for them to knock at your door and ring the cashier. Because of the heavy competition out there generating customers has become one of the most challenging undertakings of a business, in that to become successful in every step of customer acquisition to customer satisfaction your business would need an effective marketing system.

Here are some examples of important marketing processes that must be systematised.

Leads Generation – This system plans for several strategic marketing activities that will put your brand out there in front of potential prospects or buyers.

Prospecting – This system requires your business to actually profile each potential buyer of your product or service. Do they need it? Can they afford it? Are you speaking to the decision-maker in purchasing the product?

Promotions – Customers need to be “pulled” in your business, and once there need to be “pushed” to buy. If your product has what it takes to compete in the market then you must get your name out there for prospective customers to know.

Customer Service – Keeping the customer happy at any stage of business transaction requires a system that they can rely on if you fall short of your “promise”. Who can they call? How will you address complains? What sort of warranty can you commit?

Customer Retention – One sale is not enough; what your business needs is ongoing loyal patronage from your customer. In addition, your happy customers are the best instrument for positive word of mouth so leverage on that. Likewise you should always have a system in place to make sure you keep your customers coming back.

By |1:42 am|Marketing|Comments Off

The Value of Upselling and Cross Selling in your Business

The value of upselling and cross selling in your business

Photo credit: www.salespod.net

If you’re a business engaged in transactional sales, what would you rather have: more customers with average sales per transaction or few customers with higher sales per transaction? Wise business sense would tell you that the latter is more preferable or at best, ideal.  Good business management has it that organisations spend more in developing new customers than maintaining current ones for the exact same business engagement. Less use in marketing resources is a definite plus to the company’s bottom line.

Growing your business effortlessly

Once you’ve established customer contact point there also occur a great change of converting that prospect into a real customer. Marketing executives agree that getting one foot of the customer on the door is a laborious process; so that if one foot is finally in, you better make sure you do your best so that customer engagement in the sale of your products and services will have the customers themselves move another foot in. By increasing the transactional value of each customer purchase you instantly grow your sales with just a few customers.

Upsell or cross-sell your way to more sales

Upselling or cross-selling is not a new marketing concept, however not all businesses are employing this principle. If you would think about it almost all products or services come with related product or service to make customer usage experience more satisfactory. Businesses should not stop at getting customers just buy their best-sellers but instead promote higher customer satisfaction level by adding more related products or service in their purchase. Be wary that customers may see through the sales motive and may backfire in the process. The best way to do upsell or cross-sell is to provide informed choice to the customer with their benefit in mind. Doing so will likewise increase the value of your business to the customer, with their complete satisfaction as your driver for customer engagement.

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How To Improve Sales

Failure To Monitor Your Results

 

Results. That’s all that matter in business. Results.

 

Any promotion that’s worth putting your time, money and effort into, is worth measuring how well it performs. The only way you can know whether the promotion is worth running again or what you may need to do to change or tweak it to make it more effective  is by knowing the results the marketing effort produced. Did you get more prospects? Did they convert to more customers?

 

It’s astounding how many business owners don’t understand this simple concept.

 

You’ll let the local newspaper advertising salesperson sell you an ad and layout the ad, because they are “the experts” then let them run it with no way of knowing whether or not anyone called or a customer was obtained as a result of the ad. These “institutional” bran type agencies love you, because you have no idea whether the investment has worked, and they are in no way accountable, and they will keep selling you more and more, because “you have to advertise regularly” to be effective. Ha!

 

The ad has no accountability or measurability.  So next week or next month, they convince you to run it again and you continue to complain about how bad business is.

 

As a smart business person, you should never consider running an ad or executing a mailing campaign or promotion without having some type of response mechanism to measure the results. However, it happens every day. And millions of dollars are wasted because of it. If you want grow your business, you need to be smarter.

 

Don’t fall into the trap of thinking your ads will create some kind of magical awareness of your product or service. Every one of your ads and mailings and sales promotions must have a definite, targeted purpose. And EVERY How To Improve Sales must be measured to see that it does achieve that purpose.

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Here’s a simple 4-step system you can set up to measure the results of every advertising or marketing tactic you implement to promote your business:

 

1. Put together an “Advertising and Promotion Results Analysis”book. A simple 2 ring binder works well for this.

2. On the inside of the binder, insert a few clear plastic page protectors.

3. Print out a few copies of the “Advertising and Promotion Results Analysisform shown in Part 2 of Mistake #2, and insert one in each of the page protectors facing the back of the binder.

 

Every time you run an ad or Improve sales, put a copy of that ad or promotion in one of the page protectors facing the opposite direction of the Analysis form. If you do this every time you run an advertisement, or promote your business and you carefully analyse the results, you’ll quickly see which promotions are working, which ones need tweaking to improve, and which you should toss out ASAP.

 

As your binder grows, make three additional binders.

 

In one binder place all your “A” ads and sales letters – the ads that pulled the best.

 

In another binder, place the ads and letters that produced marginal results, or at least broke even; you could experiment with these in the future. And in the third binder, put all the “losers.” The ads and letters that absolutely bombed, which you want to stay away from in future.

 

This way when you are ready to do another Improve sales or want to boost sales you’ll know which ads or letters you can depend on to model the next promotion.

By |7:17 am|Marketing|Comments Off

Why You Need A Marketing Plan!

Marketing Plan“Nothing happens until something is sold”. To grow your business you need to increase sales which will lead to more profits.

Like it or not, selling is the process of getting goods and services into the hands of consumers in return for money. It’s what the world economy is built on.

To be able to sell something, it has to be produced and this means someone needs to be employed to produce it. For the buyer to have money, they need to have a ‘job’ that produces and sells something so money is created to provide their income.

Business Marketing plan is the process of bringing together potential customers or prospects and certain products or services so an agreement to transact can be reached.

Effective Marketing plan is critical to the success of any business. If your marketing is ineffective, potential buyers may never find out about the products or services you offer that they need or want which will probably mean a sale is never made.

There are alarming statistics around how long businesses stay in operation. Some say as many as 80% won’t be around after the first year and many more won’t survive beyond 5 years. Learn to promote your Marketing plan and you are well on the way to not being one of these failures.

Despite this, most people launch into their dream business with little or no planning, and with no real idea of what can happen to them because they don’t properly plan.  Even if many business owners consider the ‘normal’ planning issues, like a business plan, most never even consider how they will get their product or service to be noticed in the market place in a way that people will stop and take notice and actually want to buy. Very few people take the time to develop a business marketing plan that will help ensure their survival, which is a real shame.

To be successful in today’s changed new world economy; business needs to do many things right and probably differently to everyone else. You need to answer the question in every prospects mind:

“WHY should I do business with YOU, compared to all your competitors out there?”