Business Marketing Strategy
5 Steps To Build & Optimise An Unstoppable Business
The world of business marketing has evolved. Today, global brands and advertising agencies enbrace direct response methods. Due to digital marketing providing the platform to test and measure on a large scale, direct response has become a clear winner over the last 15 years.
As a result, there is no reason why any business should not have a solid idea of what works. Simply advertising because you need to generate business is not good enough. A strategy and a measurable return on investment need to take president.
The truth is entrepreneurs and CEOs sometimes get stuck. There's just too much to learn. There's too much going on in their business to dedicate time to finding out the truth about marketing. But, today...
...That All Changes For You
You will soon know how small businesses turn into multi-national corporations - how products turn into global brands. With this information, you'll be able to take your business as far as you want to profitably take it using the same tactics and strategies.
No matter where you are with your business - a start-up, local family business, national, international, or expanding business through a different avenue, here you will find the system that made many of the household names.
You will see, this system works in every industry. It works across the board. It's how you play the business marketing game. And so, this page is here to guide you step by step so you can master the business marketing world. No longer will you pim your hopes on the latest marketing tool.
Develop Your Marketing Monopoly
This is how Virgin, Merrill Lynch, Palmolive, Domino's pizza cornered their markets, differentiated themselves... and made it big.
You must start at the beginning. Play the game they used to succeed and grow. The same system they once used to build their businesses.
The Sophisticated Marketing System
Step 1 - Connect A Consumer Need To Your Product Or Service, And Close With A Proven Sales Technique
This step is most important. Get it wrong or simply bypass it and you might as well be throwing your cash on the fire.
If you play the same game as everyone else in your market, then your potential customer is hooking for a duck at the funfair and hoping for a prize. You never know, they might find you. Instead...
...Find your hook and grab yourself a prize customer
Now, these ducks are live... not the rubber duckies on the duck pond... so you need bait. Something attractive and irresistible your potential customer would be stupid to turn down.
To do that, you have to know and understand your customer's needs and desires. Then use that information to develop your "hook and bait". Connect it to your product or service, and close with a proven sales technique.
Domino's hooked pizza lovers with bait they know people wanted. This sales technique transformed a failing business into a rapidly growing one.
They connected the customer's needs with their product. And made them an offer they wouldn't refuse. It was simple...
Hot fresh pizza delivered in 30 minutes or less, Guaranteed.
You see, pizza delivery was taking too long and arrived cold. It was a problem for the consumer. Domino's saw the opportunity, made the offer, and took full advantage.
Anyone can make soap, but it takes a genius to sell it.
Palmolive was an unknown product with little distribution. Until they told their story. They generated desire by telling women Cleopatra used palm oil and olive oil. And Roman beauties did likewise.
They differentiated themselves from other soap products and distributed Palmolive across the world.
Step 2 - Decide If You Want To Offer A Free Lead Generating Offer Or Sell Directly
There isn't a right or wrong answer here. Every market is different. Some are more sophisticated than others (they know more). Some are more skeptical. And it depends on the platform you use (traditional media and digital options).
Either way, it's just as hard to sell the free thing as it is to sell in exchange for money.
Because there is a transaction going on. There is a sales process. And you have to make it really easy for them to take action.
Whether you start with the free offer or go for a direct sale, you may have to provide tremendous value and content to convince your prospect, depending on where they are in the buying process.
Richard Branson started his Virgin empire selling cut-price records via mail order. He made direct sales offers musicophiles couldn't refuse. Then he sold to them again and again. Before long he was opening a record shop on Oxford Street.
Merrill Lynch started out offering a free info package through long copy space adverts to generate leads. They gave people the insider's scoop of the financial industry. And took it to the bank. Before they took upon this technique, they were unknown in the financial world.
Step 3 - Getting In Front Of Your Potential Customer
This is the fun part... It's where most businesses start. It's where the tools and gadgets and media are sold. It's where promises are made and desires created. Just like the build-up to a rollercoaster ride. You've bought the ticket and you're ready to go. Your anticipation builds as you get to the end of the queue. Then you take your seat and get strapped in... exciting, isn't it?
Here you'll find out if your business converts prospects into buyers. Sometimes quickly. Sometimes more slowly. Pay attention to the data and you'll figure out if your campaign will be successful or not.
Some business owners pay to play and live for the thrill. Some have been burned before and can be cautious. However, before going all-in or outright rejecting media, it is always best to test and tweak first.
The quickest way to test your campaign ideas is through paid digital advertising. Because results are rapid, you can run multiple split tests with a small budget to find out what works.
That way you'll only spend a few hundred pounds testing your marketing for conversions, rather than spending thousands per month on SEO and print media.
When you find a winner, you can roll out the campaign across multimedia and track your results.
Driving Traffic For Conversions
Now you are ready to utilize multimedia power. The effect of being seen everywhere by your prospects. With the power of 7, more of them will be compelled to respond to your marketing. Then, with a good user experience and conversion rate, you will turn more prospects into buyers.
For this to happen, you will need to use all traditional media and digital marketing methods.
Step 4 - Follow-Up Optimisation & Conversion
Now, you'll know not every visitor will buy. They might visit your place of business, or call, or enter your website, only to disappear, never to be seen or heard from again.
This is very bad for business.
As most people do not buy the first time you offer something, wouldn't it make sense to contact them again?
Therefore, you need an automatic procedure to capture details, track them and follow-up to make a sale.
This is a huge forsaken area of many businesses. So you must have the ability to connect with your customers and potential customers. And you must have something to offer... something they want.
It might be a free or low-cost offer to potential customers. Or simply your main product or service.
Then you can implement an automated follow-up procedure digitally or physically or a combination of the two.
Once you have a follow-up procedure working for you, you'll exponentially increase your turnover.
Step 5 - Maximise Customer Value
This is big. Do this and you'll be able to generate money at will.
Everyone wants new customers. But once you have them, you'll need to keep them. Keep them coming back and spending more money with you.
That way you can grow your business by increasing the number of transactions per customer and increasing the average transaction value per customer.
Hopefully, you have more than one product or service or recurring sales to begin to maximise your customer's value. Otherwise, your profit per sale has got to be worth the marketing effort.
Many businesses live day to day hoping someone will come and buy. Hoping they'll renew their contract. They rarely do anything to maximise a customer's value.
By taking your business through a sophisticated marketing system, you'll have the ability to market to them again and again. You can use strategies to maintain communication and increase transaction frequency and value.