Biz Coach Steve

Tag: marketing

  • 7 Marketing Strategies that will Skyrocket your sales and profits

    7 Marketing Strategies that will Skyrocket your sales and profits

    I know what you are thinking.

    OMG… not another marketing program that costs lots of money.

    Nope. Just 7 simple marketing strategies that you can use to grow your business.  There are literally thousands of different marketing strategies that you could be using to grow your business, but only a few that you need to do it consistently and that will allow you to make all the money you desire.

    Strategy #1: Create a Marketing Parthenon

    The only constant in business is change. Therefore, you need to be brilliant at the basics.

    A marketing Parthenon means having multiple different sources of revenue and lead generation instead of relying on just one. What worked yesterday, may not work today.

    To give you an example, we have private coaching, group coaching, mastermind, automated courses, book sales, speaking revenue, affiliate programs, and a formal referral program.

    What is your revenue Parthenon?

    Strategy #2:  Consistency

    This one seems so easy, yet so many people fail to be “consistent” in their marketing efforts.

    If you just mailed out 200 postcards, then you should be working on the next round of mailing out the next 200 postcards.  Just like running an ad in the local papers, or online. You need to create momentum and be seen. Not one and done marketing strategies that so many businesses perform. 

    Strategy #3:  Sequenced Mailings

    This is probably the most important marketing strategy you could implement, yet very few businesses put systems into place to allow them to tap into the power of consistent sequenced mailings. ** This also goes for email marketing – drip campaign.

    Here’s why this one is so powerful. Most people are gathering information before they purchase some items. If they see your ad once, they will forget you when they are ready to purchase. But, if you keep in touch with them through a consistent marketing program, then you will be top of mind when they are ready to purchase.

    Most marketers believe you should “touch” (not physically) your prospects 11 to 15 times before your message breaks through and they are ready to buy. Why do you think fast food restaurants advertise so much – repetition?

    Strategy #4: Monthly Newsletters

    Do you send out a monthly newsletter to your clients?  This could also be done via an email newsletter.

    It’s easier to re-sell to an existing client than to sell to someone who doesn’t know, like and trust you.

    Interesting stat: Did you know that you lose 1 ½ of the value of a client every 30 days you don’t communicate with them?

    It’s not just selling stuff but providing your clients with content that they can use and that is related to your product or service.

    Just keep in touch with your clients.

    Strategy #5: Create Joint Venture partnerships for your business

    As I just said, it’s far easier to re-sell to an existing client than to an unknown prospect.

    You’ve spent money and time acquiring a client, it’s relatively inexpensive to send them a letter promoting another product or service that is RELATED to yours.

    You can send (including email) a guide on behalf of your JV. If anyone from your list purchases anything from your JV, they will pay you a flat rate or percentage of the sale.

    This works for complimentary products and services to yours.

    Strategy #6:  Testing

    It is surprising how few marketers actually “test.”

    One example of this is A/B testing.

    • Test one marketing piece against another
    • One headline against another
    • One price against another
    • One guarantee against another
    • One medium against another (local papers versus city papers, Facebook versus Instagram, etc.)

    The list goes on.

    Most of the time no one tests to see what resonates with your target market to have them buy from you.

    I have done this before and it saved me $2,500 a month if I would have gone with one postcard with a negative return, versus a postcard that cost $100 a month and had over a 20,000% return. Yes, you read that right.

    Strategy #7: Create a Deluxe Version

    Airlines have “First Class,” nightclubs have “VIP” rooms, and hotels have “Suites.”

    Get the point?

    Give your clients more than one option. Offer them the “No Frills” service for one price, and the “Premium” service for a higher price.

    Put those extra bells and whistles into the “Premium” service and create a much higher “Perceived Value” and I GUARANTEE most of your clients will choose the “Premium” service.”

    Give your clients a “Yes” or “Yes” decision NOT a “Yes” or “No” decision.

    Which strategy will you implement in your business today to grow your business?

    #

    Steve Feld, MBA, Certified Business Coach, and Author, a coffee enthusiast, provides training and business performance coaching to business owners, professionals, and executives. Steve also speaks to organizations and conducts workshops and training.  Focusing on lead generation and revenue creation to get growth results for the business.

    Contact Biz Coach Steve today to see how he can assist you to get the results you want in your business, [email protected], or www.bizcoachsteve.com. He is in the business of growing businesses. Need a speaker, contact Steve today.

    #bizcoachstevef #business #stevefeld #smallbusiness #smallbiz #entrepreneur #marketing #leadership #coaching #businessowner #businesscoach #businesssuccess #businesscoaching #businesstips #entrepreneurship #success #entrepreneurlife #keynotespeaker #podcast #author #smallbusinessowner #speaker

  • So many sites, so little time! How to prioritize social media efforts

    So many sites, so little time! How to prioritize social media efforts

    Facebook, Instagram, Twitter, LinkedIn, YouTube, TikTok, Pinterest, Snap, and on and on.

    In today’s business environment you MUST have some social media presence.  Your organization leader(s) are open and primed for social media, and they understand the need to stand out, and to be competitive you must have a presence on social media. Now, you’re ready to dive into the social media scene … but, into which pool?

    Navigating the online social media waters can be tricky. With choices galore, it can be difficult to distinguish where your organization should have a presence. Do you become the industry Facebook king or the region’s Twitter authority? Or maybe LinkedIn is the way to go, mixed in with some notable blog posts? Rather than playing guess-and-click with valuable resources, we’ve outlined five easy-to-follow steps to streamline your social media prioritization efforts!

    Step 1: Consider the time investment
    First, take stock of soft resources. How much time do you or your staff have to devote to social media activities? This number of hours will delineate how many tools your team can strategically take on without running the risk of being spread too thin and not making an impact.

    Take a close look at the hours worked each day by individuals whom you plan on being social strategists or implementers. Is there time available in their schedules, or can some things be shifted around? Also, gather their feedback on the commitment they would like to give to the effort. You may be surprised by their feedback.

    Step 2: Compare the platforms to match your goals
    Now that you know how much time you’re working with, compare each platform to align with your company’s marketing goals. Does the one or two social media platforms you select accomplish the goals in your annual & monthly strategic plans.  If “Yes” get posting. If “No” move on and don’t waste your time on that platform.

    If you are in a creative industry (bakery for example), Pinterest and Instagram may be your primary platforms and Facebook your secondary.  B2B organizations may be on LinkedIn and Twitter as their primary, with Facebook as their secondary.  Every organization must find out which platform serves their purpose the best.

    Step 3: Go where your target audience hangs out
    Many businesses think if they build it everyone will come.  Not in social media.  The platforms have been built and each platform attracts certain audiences.  Now, can your business be on all the social media platforms available?  Yes, but why would you do that to yourself?  If you have a large organization and a large social media team that is a different story. 

    However (as you likely know from personal experience), you need to be on the social media platforms where your target market is already congregating.

    Hop online, do some research to find out where your target market resides. The best research you can do to find out where your target market hangs out is to just simply ask your current and prospective clients.

    Step 4: Get a feel for the community
    Once you’ve determined which platform has the greatest potential for your business, it’s time to “lurk.” Lurking is a common term in the social sphere, used to describe the online behavior of feeling out a community’s inner workings before actively participating and engaging with its members. Observing a community and its influential members will give your organization an even more solidified idea of where its social media priorities should stand. This step is all about finding your perfect fit.  Think of this as doing detailed research within the platform.

    Step 5: Create and execute a solid marketing plan
    Now’s the moment you’ve been waiting for – setting your business’s social media priorities! You have done your research; know which platform you are going to start on then which platform you are going to go to next.  Take it in steps unless you have a team or dedicated staff members to handle all the social media efforts. Remember, this IS marketing.  You need to have a solid plan in place on the platforms.  Don’t post just to be posting.  Post items that capture your audience’s attention, engages them to act and connect with you.  Create a detailed social medial marketing plan that states what you are going to post, on which platform, on what date, at a specific time.  Provided great content. Define who create the graphics and text for the post.  Who will actually post it? Who will stay engages with others when they respond to your post? 

    If you have staff, then you need to share your strategy with them and have them engaged on the platform you are on.  One business has their staff take turns for 1 hour a day to post and respond on social media.  The staff loves it and it keeps their social media presence fresh and alive. 

    Once you’ve set your social media priorities, it’s time to dive in. Consistently keep your long-term goals in mind, while setting and reaching short-term goals to get there. Keep gauging success along the way, and never stop spreading the word. Before you know it, your organization will be the master of its online domains (pun intended)!

    #

    Steve Feld, MBA, Certified Business Coach, Author, provides training and business performance coaching to business owners, professionals and executives. Steve also speaks to organizations, conducts workshops and training.  Focusing on the lead generation and revenue creation to get growth results for the business.

    Contact Biz Coach Steve today to see how he can assist you get the results you want in your business, [email protected], or www.bizcoachsteve.com. He is in the business of growing businesses. Need a speaker, contact Steve today.

    #bizcoachstevef #entrepreneur #smallbusiness #business #smallbiz #coaching #businessowner #businesscoach #leadership #marketing #speaking #keynotespeaker #meetingprofs #eventprofs #meetingstoday

  • How to Be More Persuasive

    What will make you more persuasive? Thinking less about what you want and more about what you deliver for others. Think about delivering benefit instead of trying to win over your clients/prospects.

    A benefit exchange is the heart of persuasion. It answers the question from the radio station-WIIFM, “What’s in it for me?” for the person you are seeking to persuade. In other words, it’s a benefit you promise in exchange for someone taking your desired action.

    The old school way of marketing is nothing like WIIFM. It was clearly a neglected concept in communicating a business’s products and services to the market. But benefit exchanges are useful for all kinds of situations, such as getting someone at work to agree to your proposal, inspiring people to change their habits or compelling someone to buy your product.

    We so often get the benefit exchange wrong. The number one error is we talk about attributes vs. benefits. We get lost in the qualities of an idea or a product rather than translating those attributes into the benefits they deliver for a prospect or customer. Telling me that a proposal addresses a problem in workflow is citing an attribute; demonstrating how it saves money or increases efficiency is showing a benefit. Rack and pinion steering is an attribute of a car; responsiveness that makes you feel safer on the road is a benefit.

    Good benefit exchanges focus on what your audience wants – not what you want. That’s the second common error most small businesses make. Don’t fall into the trap of communicating based on the benefits you desire. Think from the perspective of those you want to influence and speak to that world view.

    Those are ways we go wrong. So how do we do it right? If you want to be more persuasive, here are five ways to build a strong benefit exchange and win hearts and minds in the process.

    Make the Benefit Immediate: Few of us take action based on a benefit that we expect to receive in the far future. It is human nature to seek instant satisfaction over distant gratification. How can you make your case that if someone does what you want, they will reap immediate rewards? Answer the question: what will be better tomorrow?

    Make It Personal: A compelling benefit needs to make people feel their lives will be better as individuals or within their tight circles of friends, family, community or work. At the end of the day, the personal connection, not the grand concept, grabs our attention. Make sure you’re focused on why your agenda is specifically relevant to the person you wish to persuade.

    Speak to Your Audience’s Values: We can’t easily change what other people believe, but by plugging into their existing mind-set, we unleash great power behind our message. Make sure the benefit you are communicating is something others seek – not just what you want. Those two things are rarely the same, but we often imagine they are.

    Know What You’re Up Against: Think competitively about your benefit. Is it better than what people get for doing nothing – or something else instead? Don’t forget there’s a reason people aren’t taking the action you seek. They may be deriving benefits from those alternate behaviors. How can you shape a benefit better than sticking to the status quo?

    Be Real: Last, you need to make sure your benefit exchange is credible and honest. People need to believe in what you communicate. Ask someone who is respected to back you up. Or show other people gaining the promised benefit. Or tell a good story that is a true example of the benefit in action. You want to persuade by keeping your promises.

    If people aren’t doing what you want, you may to speak to someone and get an outside perspective. Maybe you are thinking the WIIFM is you, when the WIFFM is your customers. What outcomes are you providing to your prospects and clients?  How will you and your company’s products or services solve their problems, needs and wants?

    #

    Steve Feld, MBA, Certified Business Coach, Author, provides training and business performance coaching to business owners, professionals and executives. Steve also speaks to organizations, conducts workshops and training.  Focusing on the lead generation and revenue creation to get growth results for the business.

    Contact Biz Coach Steve today to see how he can assist you get the results you want in your business, [email protected], or www.bizcoachsteve.com. He is in the business of growing businesses. Need a speaker, contact Steve today. #bizcoachstevef #entrepreneur #smallbusiness #business #smallbiz #coaching #businessowner #businesscoach #leadership #marketing #speaking #keynotespeaker #meetingprofs #eventprofs #meetingstoday