In marketing what gives you a real return?
The answer to the question is going to be different for every business. As we are constantly told by the high profile gurus, “Stop marketing at your own risk. Just get out there and promote your business and value your customers.”
Here are the ten steps to tripling your sales:
1. Profile your customers. Most business can tell you how many products they sold and what the products do. Very few of them actually know who their customers are.
2. Segment your customers. This is a difficult process in most businesses because the information has not been collected. Consider issues such as customers’ income, location, industry background, sales volume, etc.
3. Identify your “A” Class Clients. Rank all your customers. A small percentage of your clients (between 20% and 30%) will be responsible for the majority of your profit. These customers are usually regular purchasers, with a high value per purchase, and you enjoy dealing with them.
4. Identify the Situation facing them. In order to understand future market trends, you must understand the changes occurring to the environment of these clients. What is happening for them? Are new competitors, new Government legislation, increasing costs, new technology, etc affecting them? Consider a survey of your customers to capture this information.
5. Identify their Problems. Talk to your customers and find out about their challenges and problems. Listen to their concerns. Try and get them to be specific about the issues they face.
6. Get them to Quantify the Implications. Discuss with them what would ultimately happen if they do not find a solution to these problems. Would they face financial difficulties, longer working hours, or greater stress? Here you are trying to understand what would motivate them to change to you.
Do you forget all these steps and just assume that price is the motivator?
7. Create the Need for your Services. Your customers should now be asking for your help. You have the opportunity to offer a solution. They will be more interested in you and your company rather than how much you charge.
8. Outline the Costs and Benefits of your Services. Completing a Cost Benefit Analysis makes it simple for your customer to make a decision. The clearer the benefits, the less the issue about price.
9. Offer a Guarantee. Every business informally provides a guarantee, but very few have defined it, and told their customers! The clearer you are about your guarantee the easier it is for you to limit your exposure.
10. Ask for the Sale. This is the step that everyone puts off. Your customer is expecting you to ask for the sale. When you don’t ask for it they think that you cannot successfully meet their need.
Practicing, testing and scripting are essential. These steps provide you with the content of any future advertising and promotion.
Clients have achieved outstanding results using this 10-step process. We can assist you through each stage and achieve significant success.