Growing a business may seem challenging. But when you understand the mindset and see the powerful business growth strategies fast growing businesses use to attract new customers and close sales, you’ll realize you really can grow your business at the rate you choose regardless of the economy or the competition.
A successful business is a tremendous asset that can support any lifestyle. It’s an asset you may eventually sell for a fortune, or pass on to the next generation. If you’re not where you want to be with your business, and if having more customers, clients, patients or patrons, and selling more goods or service will solve the problem, this information is for you.
Marketing is the key that unlocks money and power in business because without good marketing, there is no business… and while every business owner believes they know everything they need to know about marketing, in any market where some companies prosper while others struggle, it’s clear the high profit,consistently successful businesses, market differently than the others.
According to the U.S. Small Business Administration, over 50% of all small businesses fail in the first year and 95% fail within the first five years and they fail for several very specific reasons. The primary one being poor marketing and a second, related reason being a lack of knowledge an certain aspects of the business and a refusal to bring in outside expertise to acquire that knowledge.
What Most Business Owners Know About Marketing Leads To Business Failure 95% of the time, which means if you market your business with the same mindset and use the same approach as most other companies in your niche, you’re following a group that has historically and will statistically fail or fail to prosper.
Marketing is the master skill that attracts customers and drives sales. A business failure is a marketing failure.
A business failure IS a marketing failure. If 95 of every 100 businesses fail in five years that means 95% of these business owners were mistaken about how to market their businesses and since 95% is a huge majority, that means doing what is accepted as ‘common knowledge’ as it relates to marketing, leads to failure 95% of the time.
Obviously… if you want something different you have to do something different and the best first step to doing something that will make a REAL difference is to gain some insight on how consistently profitable companies… become consistently profitable.
So here are five marketing insights that you can adopt right now to grow your business:
Open your mind: Unless you’re the undisputed leader in your market area with no close seconds, there’s still a lot to learn about keeping your business or your practice filled customers, clients, patients or patrons excited about doing business with you.
If you keep doing what you’ve been doing with your marketing, you’ll keep getting what you’ve been getting. Learning to market your business more strategically is your fastest and most certain way grow your business, increase your profits. Accepting this is your first step to more customers, higher profits and continuous growth.
Understand The Business You’re Really In: Businesses often fail because the owner is confused about what business they’re really in. Manufacturers think they are in the manufacturing business. Distributers think they’re in the distribution business and so on. Retailers think they’re in the retail business. Consultants, online and off, think they’re in the consulting business. But you’re not in any of those businesses.
What your business does is NOT the business you are in. You are in the business of selling the product or service your company provides. Business owners who understand this and market accordingly are consistently profitable regardless of the economy or the competition and build superb businesses. The 95% who disagree may survive, but will never be as consistently profitable as they could.
Just realizing your REAL BUSINESS is the business of selling the product or service gives you an advantage over competitors and will result in you doing more business, more often with more people.
Stop Advertising & Start Marketing: Most advertising is a waste of money because it produces a tiny fraction of the response marketing based on sound direct marketing principles would deliver.
The goal of strategic marketing is to understand the customer so well and craft offers and deliver information in such a compelling way, the prospect recognizes what you offer is exactly what they want and they decide for themselves it’s in their own best interest to do business with you.
With the good strategic marketing, your product or service practically sells itself. Slogans and talking ducks build no desire and offer no reason to do business with you other than the fact that you exist.
When you understand your customer and understand what motivates them so completely you can craft a compelling marketing message that speaks directly to their wants, needs and desires, your business will grow, and your profits will soar.
Offer Experiences And Outcomes Not Products And Services: You’re in business because people want something, it’s not what you sell and the quicker you realize that, the faster your business will grow and prosper beyond anything you’ve experienced so far. Your customers, clients, patients or patrons never want products or services, they want experiences and outcomes.
Even for you right now… you don’t care about marketing advice… what you want is a continuous stream of people who know who you are and who want to do business with you… so your business will grow, your cash flow will skyrocket and you can buy the vacation home or the yacht or take a six week vacation with a pocket full of cash and know your business will be just fine when you return.
Your customers are exactly the same… if you sell cameras and focus on bells and whistles, you’ll sell a few. But if you focus on capturing precious moments with friends and family that will be cherished for a lifetime… your camera sales will skyrocket because people WANT EXPERIENCE and OUTCOMES, we love our friends and family. We want to capture those precious moments… and if your zing-zang, ding-dong, googa-pixel camera makes that happen for me… I’ll take two.
Market Strategically Not Tactically: Marketing strategy is about what you say and who you say it to. Marketing tactics are about how you deliver your strategic message. Slogans, logos, photos, jingles, hours of operation and so on convey no information that grabs a prospects attention, keep them riveted to your message and stokes a desire to contact you.
A marketing message that says… we’re here, we’ve got cameras… come on by… is purely tactical, with zero strategy and zero chance of influencing anyone who wasn’t driving around that very minute hoping somebody would tell them where to go buy a camera.
The strategic approach is more like this; imagine taking pictures that are so good your friends will think you hired a pro photographer to take them. Now stop imagining, and stop by our store or web site and pick up your copy of our Special Free Report… Digital Magic – How To Stop Taking Snap Shots And Start Taking Digital Masterpieces That Make You Look Like A Pro… You’ll learn secrets pros use to get great shots every time, you’ll learn which digital camera is best suited for the photos you want to take, you can take a look at the next generation of digital cameras and you can register to win a complete digital camera package valued at over $500.
Now be honest, if you had any interest whatsoever in photography which ad would you respond to… "we’re here, we got cameras, come on by" or "Learn to take pictures like a pro… pick up you free report and register to win a complete digital magic camera package valued at over $500"? By the way… everybody who doesn’t win… gets offered a discount or a free do-dad or something just because they registered… and if a 1000 people register… and 10% take the you-didn’t-win-but-here’s-a-discount-offer… you just sold 100 cameras simply because you marketed strategically and talked about what prospective digital camera buyers want… which is beautiful photos… not mega-pixels.
You’re in business because people want things… and if every case we don’t want products or service, we want experience and outcomes.
Market with this in mind and you will always be in the 5% who survive and prosper while the clueless continue to market just like everyone else in their industry and just get by or struggle to survive.