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The Fastest, Easiest, Most Profitable Way To Double Your Business! Dear Business Owner, ave you ever wondered what the difference is between a business that consistently and predictably realizes extraordinary growth and another business that struggles just to make ends meet? Or why a business that was started in a garage or basement of a home and run by the seat of its pants, can out perform in sales and profits, some of the best run companies? Or take two businesses that operate in the same marketing arena. They both sell the exact same products or the same services for the exact same prices. Why can one business continually grow and prosper, while the business owner spends a good portion of his or her time away from the business on trips and vacations with their family, and the other owner spends an inordinate amount of time working harder and longer hours just trying to pay the bills and never taking any time off? If yours is like most businesses, it’s not running at its optimal potential and you’re leaving bushels of money on the table… money that is lying there waiting to be picked up by the business that wants or deserves it the most.
And if it’s your competitors who want and deserve it more than you, they will not only pick up those dollars, they will use them to get more customers for their business. And who are their best prospects? Your very best customers. So in effect, if you leave money on the table you are actually funding your competitor’s marketing efforts.
Recent research has uncovered a huge gap between what people who buy your kinds of products and services want and what the businesses that sell those products and services provide.
For business that identifies this gap and effectively capitalizes on closing it, the financial rewards are HUGE and will provide its owners with entirely new and ongoing streams of profitable income, as well as enable them to position their business as desirable for investors (if desired) or for a quick and profitable sale when the time is right. Business Success And High Income Isn't Just About Getting New Clients Getting new clients is important – very important. But when you get right down to it, there are other, equally (if not more) important, and more cost effective ways to grow your business. Here are three considerations: - Increase the number of customers or clients you have.
- Generate more income from your existing customers or clients.
- Increase the efficiency of your business and your margins.
Unfortunately, most business owners spend most of their time, money and effort in trying to attract new clients to their businesses. There’s no question that getting new leads (prospects) who are potential candidates for your products and services is important. It’s very important.
But that’s not where the real money is to be made - especially when there is more competition in the marketplace today, than there ever has been.
If that weren’t enough, you’re faced with some business owners who are “buying” market share by offering lower prices, and other companies who sell their products and services through the Internet and toll-free numbers.
Now add in your marketing costs such as, running ads, sending out mailers and paying for telemarketers. Then figure in the time consumed in qualifying prospects (either in person, by telephone or mail), as well as the entire sales process, including the time involved, salaries, commissions and bonuses you pay your staff, your overhead, and all the other attendant expenses.
When you total it all up it’s easy to see why it costs up to six times more to get a new customer or client than it does to sell to an existing one. In fact, most business owners don’t even get enough new customers from their ads or sales letters to break even, let alone make a profit on the products they sell from those ads or letters. The Single Most Expensive Thing You Can Do To Business It's Probably Not What You Think It Is The simple truth is, as important as getting new customers or clients is, that activity is the second most costly thing you can do to grow your book of business.
The real money sapper - the single most expensive thing you can do in your business is to lose a customer, and the easiest person to sell to is an existing customer. With those facts in mind, look what would happen if you were to reduce the number of customers you lose every year, and at the same time double the number of referrals you get, and increase the dollar value of each sale by just 10 percent.
Don't Let The WayYou've Always Done ThingsYour competition Or The EconomyDictate What Your Income Will BeWith so much competition, and very little difference in products and services, the logical thing to do to get more business is to cut prices, and make it more attractive for your customers and prospects to do business with you, right? Cutting prices is one of the quickest ways to business failure there is. Yet, nearly every business owner you talk to thinks that’s the way to get more business and generate more income.
Just knowing this information has given you a tremendous advantage over your competition already. But knowing this alone, won’t bring you any additional business or add any additional profits to your bottom line. You’ve got to have other strategies – practical strategies – that will enable you to crush your competition. Now Is The Time To Capitalize On The Inattention Of Your Competition Now, here is a very important point: You can’t realize significant growth by using the same old marketing methods you’ve always used.
Because your buying public is more sophisticated, more educated and more savvy when it comes to buying any type of products and services, you’ve got to do things differently. You’ve got to use extreme measures if you want to catapult your business ahead of where you are now, and way beyond your competition.
If you’ve ever wanted to grow your business, now is the time to do it – even though you may not be as competitive as you would like, or perhaps are operating with staff, location, debt, production, or other limitations. The window of opportunity is very small. More and more business owners are beginning to realize that they can’t continue operating the same way they’ve always done. Things will turn around one day, and if you haven’t made your move during these opportunistic times, you may not get another chance. You’ve got to strike while your competition is asleep. So Where Do You Start? Good question! Most likely it won't be the same place you started last time. How do we know that? Simple. Most companies find themselves in what we call The Marketing Tactics Trap.
You are in The Marketing Tactics Trap is when you decide to create an four-color brochure or an expensive radio jingle "just to get our name out" or "build our brand". Without first figuring out what to say, how to say it, and whom to say it to! (I'm guilty of that myself: been there, done that, got a t-shirt, and blew a lot of time and money only to go back and start over) These three components -- what, how, and who -- have to do with the strategy. On the other hand, selecting a specific media to deliver the message -- radio, brochures, web sites, paper ads or space ads -- is tactics, and is secondary to your marketing strategy.
In order to help you go from point A (strategy development) to point B (tactical implementation and execution), we employ a structured approach, The Xtreme Five-Step Profit Optimization Process, which is based on fundamental marketing principles and practical experiences of hundreds of businesses. |