Archive for September, 2013

How to Save Thousands on Advertising and Marketing

Posted on: September 28, 2013 by in Uncategorized
No Comments

Making business decisions without good information is like going to the casino…the house usually wins and YOU usually lose! Good information can often mean the difference between making thousands or losing thousands on your marketing campaigns.
 

Track Results

If you don’t know which of your ads or other marketing tactics are profitable and which aren’t, you will most likely waste lots of money on ineffective marketing. Granted, branding and social media campaigns can be extremely difficult, if not impossible, to measure but there really is no reason to guess with most of your marketing.
 

Track Website Activity

Analytics software such as Google Analytics (free) is helpful and should be on every website. It helps you understand where visitors to your site are coming from and what they’re doing once they get there. So for example, if you’re doing a Facebook campaign designed to drive traffic to your site to make a purchase, Google Analytics will show you how many of your visitors are coming from social media.
 

Track Email

Email autoresponder services provide analytical data to show how many of your emails are opened and Google Analytics will show how many site visitors come from emails.
 

Track Phone Calls

For many businesses, even more important is tracking phone calls. According to research, 65% of people will call a business before making a purchase. So it doesn’t do you much good to see what’s happening on your site if you don’t know how many of those visitors become customers.
And this goes for all of your marketing efforts. If you have multiple ads, giving each ad its own trackable phone number is the easiest way to know without a doubt how many leads and customers each ad is generating. Check out our call tracking service here.
 

New Or Existing Customers?

For some businesses, getting new customers is the lifeblood of their business whereas repeat business is the crux of other companies. So make sure you track how many new customers and how many repeat customers a campaign or ad brings in to understand the full value. New customers will have a higher lifetime value than existing customers but new customers almost always cost a lot more to acquire.
 

Tracking is Profitable

Once you have a handle on which ads and campaigns are profitable and which aren’t, you will know which ones need to be improved or dropped altogether most likely saving you thousands of dollars a year. It might seem a daunting challenge to keep up on all of these “statistics” but I assure you it will be one of the most valuable investments you can make if you rely on advertising and marketing to keep your business profitable and growing.

 

Don’t Have The Time To Figure It All Out?

We offer cost effective solutions to help you track and improve your marketing campaigns. For more information, click here or call us @ 219-670-6706.

The Most Often Overlooked Source of Revenue

Posted on: September 16, 2013 by in Uncategorized
No Comments

The Money Is In The List

Marketing gurus have long said that “the money is in the list”. They are, of course, referring to customer and prospect mailing lists. Since many small businesses don’t make use of or even have a mailing list, it must be a secret that communicating with customers and prospects is the crux of a healthy business.

Following is a list of the many profitable uses of a mailing list:

  • You can market on a mass scale instead of only to those who happen to be doing business with you this week/month.
  • You can survey your lists to understand more about them and their needs and where your company is falling short.
  • If you know which customers buy which products/services, instead of the shotgun approach, you can do very targeted marketing, increasing your return on investment.
  • You can monitor attrition (customer loss) and try to win back lost customers.
  • You can exchange lists or rent or sell your lists to other related but non-competitive businesses as a source of new revenue.
  • You can educate your customers and prospects on a mass scale to maintain healthy relationships which will greatly improve customer loyalty.

 

Existing Customers Are Low Hanging Fruit

As you can see, there are many inherent opportunities in a mailing lists that are, sadly, overlooked by the majority of business owners. It has been proven that getting a new customer is many times more expensive than keeping an existing one and by the same token, improving sales is much cheaper and easier utilizing a list of existing customers than trying to sell to new customers.
 

Technology Makes it Even Cheaper and Simpler

There really couldn’t be a better time to have customer and prospect lists since, with the advent of the internet and digital technology, communicating with them can be largely automated and the cost reduced significantly using a blog, email and/or social media.
 

Start Today

If you don’t currently collect customer and prospect information, start today. You may need to offer a small incentive such as a discount or a chance to win a prize in a raffle. Get creative. If you offer them value, they will be happy to give you their information. If you already have a list but aren’t utilizing it, put a plan into action to start communicating with your customers and prospects and, if done right, I guarantee it will have a positive impact on your bottom line.
 

Don’t Have the Time to Figure it All Out?

To find out how we can help you to start building or utilizing your own mailing lists, click here or call us at 219-670-6706.

4 Simple Ways to Get Your Customers to Spend More

Posted on: September 16, 2013 by in Uncategorized
No Comments

There are 4 simple tactics often overlooked by sales people to increase the amount the average customer spends with their company.
 

Would You Like Fries With That?

Most businesses sell many products and services because they know that, for example, someone who buys a barbecue grill will most likely want to buy a propane tank. But it is all too common for sales people to forget to offer complementary products and services (aka cross-selling) to customers who have made a purchase. Make it a priority to offer every customer every possible related or accessory product or service (within reason) after they commit to a purchase.

One word of caution. If the customer has not yet paid for the initial purchase there is a risk of losing the sale if you come on too strong with your sales approach. Because of this, some sales people don’t offer the complementary products/services until after they have processed the initial transaction. On the other hand, making a customer go through the sales process twice can be off-putting as well so you may want to test this strategy depending on your business. But for most businesses, pitching the cross sell before the transaction is processed makes the most sense.
 

Something is Better Than Nothing

If a prospective customer decides not to buy your initial offer, all is not necessarily lost. First you need to understand the reason they didn’t buy. If the product or service is out of their budget, do you have a downgraded option that would still meet their needs? If so, make sure your sales people offer it and make down-selling a company sales policy.
 

The Value Meal

Packaging complementary products together and offering the package at a discount off the price if purchased separately is an extremely effective sales strategy that many businesses don’t take advantage of. And don’t forget that you can mix and match services and products as long as they are very complementary. For example, an extended warranty or service plan is a very common component of a “package deal” that is a perfect fit with many products.  As with all marketing, test to see which packages sell and which don’t before cementing them into the sales process.
 

Super-Size It!

Another simple tactic we can take from the fast food empires of the world is offering an upgraded version of the product the customer plans to purchase. Whether its a larger engine in a new car or a website with 9 pages instead of 5, if you can show your customers the benefit of buying “bigger”, you’ll be amazed at how big an impact it will have on your gross revenue.
 

Conclusion

Most companies are leaving a lot of easy money on the table in their sales process. If you’re looking to improve sales, this is the place to start. None of these simple sales tactics take a lot of time, effort or expense but put them to work in your company and I can almost guarantee you will see a significant boost in sales in short order.  If you currently do all of them, my question to you is how effectively? Is there room for improvement?