Many business owners I come across are struggling to bring in new clients and generate profits. The shocking news is that most are none the wiser as to why.
However, when taking a step back and looking at their marketing strategy, all is quickly revealed – they don’t have one.
Their marketing campaigns are ad hoc approaches at generating revenue with guesswork, wishful thinking and luck thrown in for good measure.
This does not make for a successful business.
Defining a twelve month marketing strategy is essential to consistently generating new leads and revenue for your business.
This could be a combination of activities, such as; social media, publicity, direct marketing, articles, free reports or even delivering preview events that up-sell to your various product or service offerings, in a structured and educational format.
Map out the offers you plan to promote over the next year on a wall calendar then go about filling in the blanks as to what is required to successfully promote each one… and the marketing collateral and strategies required to reach your objectives successfully.
Marketing Strategy #2: Reactivate Past Customer Relationships
If you haven’t taken the time to reignite past customer relationships… or looked to see how many dormant customers you have, you may have thousands in revenue waiting to be claimed.
Reactivate past customers by touching base with them to see what has occurred since you were last in contact, and to see if there are any other products / services you have introduced of late that could further benefit them.
Most of the time, all they need is a gentle reminder that you still exist and that you are the prominent expert or business within your field.
to increase your revenue with ease, one of the best strategies is to up-sell at the time of checkout when someone is about to enter in their credit card details for your basic product or service on your website.
Offer a VIP package at time of checkout for an extra nominal fee and you will immediately increase your profit margins. Make it desirable and for a limited time only.
Marketing Strategy #4: Joint Venture Offers
If you haven’t got money for a marketing budget, promoting your offers through joint venture partners and affiliates are great ways to get started.
Create a list of possible JV partners that you can do business with and set out building a sincere and genuine relationship with them. You may wish to offer them commissions to promote your offer, however be warned… they must feel like they can trust you first before they will promote you to their most valuable asset… their list.
The unfortunate reality is that you could be one in hundreds of other businesses vying for their attention. How are you different and why should they get behind you instead of your competitors?
This is where you must let your personal brand shine through clearly.
Relationships not business are king when JV’s and affiliate arrangements are being utilized to grow your business. Get referrals into businesses that could be willing to work with you using these strategies and remember, getting the contact is 90% of the work.
Marketing Strategy #5: Promote Complimentary Products / Services
For many business owners, they already have a list of prospects on their database but not necessarily the product or service offerings ready for them to buy.
Approach businesses that offer complimentary products or services to yours and promote them to your list to bring in extra revenue without having to go to the extra effort of creating all new product or service ranges.
I like to plan ahead to ease pressure so I can focus on ‘bigger’ picture tasks in my business, i.e. world domination. This is why I map out my social media marketing strategies months in advance. This includes the updates that will be posted daily. This planning always means that your account is active and doesn’t die a slow death.
Remember to drive traffic from your social media accounts back to your website so they enter your sales funnel and go on to purchase.
Marketing Strategy #7: Media Campaigns
I regularly speak about the importance of getting media coverage and what it can do to transform a struggling business into a profitable one. It is easily one of the most powerful strategies you can implement to turn a business in dire straits around almost immediately. Create a press release and distribute to your local media.
Marketing Strategy #8: Up-Sell Existing Customers
One of the quickest ways to bring in new revenue is to up-sell existing customers, after all, they are already sold on the benefits of doing business with you.
Touch base with them to let them know that you value their business and that you have an exclusive offer designed just for them, but only available for a limited time. This alone could mean bringing in thousands of extra dollars within a matter of weeks with very little effort.
Marketing Strategy #9: Pre-Sell Existing Prospects
An account entry campaign is a series of specially designed points of contact with a prospect, company or the media that make evident that you hold authority within your niche.
Its aim is to first educate and then up-sell to secure a telephone meeting, discuss putting together a proposal or potentially submitting a feature article for a national magazine or newspaper.
Account entry campaigns are one of the most effective strategies for breaking into corporate organizations that would typically slam the phone down in disgust at someone promoting their business.
Every business without fail must have an account entry campaign working in the background, on a weekly basis to develop and bring in new business… not only for the short term but also the long term.
There Are Always People Ready to Buy What You Have to Sell
I guarantee you right now that there are prospects ready and waiting to buy what you have to offer… you just haven’t found out how to reach them or approach them in such a way that it gives you the biggest return on investment yet.
Ben Angel, the ‘Agent of Influence’ is Australia’s number #1 personal branding and influence specialist. With powerful strategies to create an instantly influential personal brand, generate 1000’s of leads for next to nothing, and marketing strategies that will get you booked solid and featured in national media, the Profile, Publicity & Profits – 1 Day Intensive can help.
Click here to see when it is coming to an Australian capital city near you in August 2012.