Your Market Dominating Position (Part 1) – Introduction

A Market Dominating Position – Introduction.

Most businesses become established, because of a market demand for their product or service. Many build their business by serving that demand and enjoy growing profit. And without putting much effort into long term planning or marketing.

But questions arise about how long this kind of success will last…

    • What happens when that demand slows or stops?
    • What happens when the competition sets up shop with a new and improved version of your product down the road?
    • How do you keep your offering fresh?

The answer is simple. While growing and maintaining your client base, innovate your business.  Also offer extraordinary value by creating a Market Dominating Position.

Consider this, every choice a customer makes when buying a product or service, represents a point of differentiation between one company and their competitors. These differences, weather subtitle or distinct, determine which customers will buy what you sell.

I will give you an example. Consider the well documented case of Domino Pizza. Why did Dominos become a billion-dollar behemoth in an overcrowded market in a just a few years?

    • Did Dominos make the best pizza?
    • Did they offer comfortable in-house dining?
    • Did they offer the largest selection on their menu?

The answer to all these questions is “No”.

They did pretty much offer the same pizza as all their competitors. They dominated by adopting and implementing one major strategy. They created a market dominating position in an area with lots of colleges, which was fast hot pizza, targeted specifically for hungry college kids.

Is “Price” the answer to differentiate yourself from the competition?

Ask yourself what makes your business different from your competitors as perceived by your targeted prospects and customers? For most businesses that answer: “Price”.

Many years ago, Nike offered the top selling Air Jordan 3 for $150 a pair. At the exact same time Target sold an exact same and excellent imitation of the Air Jordan for around $40. But Nike outsold them 10 to one.

Starbucks is a popular place to buy coffee in many parts of the world. Their prices aren’t low. According to the latest data their typical customer spends four times more than they would at their competitors.

Obviously low price isn’t the driving force here. So, what is?

The answer? These companies stake out a specific and targeted Market Dominating Position.

Nike focused their position around being the best athlete, being hip and in style, along with the perception of quality.

Starbucks focused on delicious hand-crafted beverages, which they claimed is the secret to making life better.

When you create your own Market Dominating Position, you will consistently get business and individuals to choose your business over your competitors.

What exactly is a Market Dominating Position?

You can define it as “ Any valued-added customer perceived benefit, or a combination of benefits, that differentiates you from competitors and does so in a strong enough manner that it makes your business the logic choice in the minds of your prospects and customers”.

Some people also know it as USP (Unique Selling Proposition).

I will give you an example: A dry cleaner that offers pick-up and delivery would be the only logical choice for any prospect or customer that values convenience. This simple distinction represents a market dominating position.

Another example of added value would be a gift shop owner, that offers complementary gift wrapping with every purchase.

The key to create added value.

Prospects and customers don’t buy based on price. They buy based on the value they receive for the price they pay. Creating added value is a market or customer relation strategy that can take the form of a product or service that is added to your original offer for free or as a part of a discounted package.

Like all the elements in your marketing toolkit, this is designed to attract new customers and retain existing ones.

If you don’t revisit the value of your offer than overtime your customers will be drawn to a competitor who consistently innovates their business, so they offer exceptional value that you don’t. Ultimately your customers will demand additional value for them to remain loyal and they are the keystones for your business growth.

Everyone can add value to their business. And adding value doesn’t have to blow your marketing budget or take off hours of your time. There are many ways to enhance your business.

The key to adding value.

The key to adding value for a customer is providing a feeling of being appreciated and that their needs will be taken care off. Example are:

    • Determining what your customers and target market perceive as valuable. You must understand their needs, wants, troubles and inconveniences in order to entice them with solutions through added value products or services.
    • Adding values will also add to your profits, but you don’t focus on generally helping your clients, you will have a difficult time attracting them.
    • Another example to add value works for both products and service-based businesses.
      • If you offer a service like hair styling, try treating your customers by offering them a latte while they wait.
      • Complementary shampoo samples or a free conditioning treatment with every sixth visit.
      • If you sell a product, consider offering convenient services like free shipping or delivery to make the customers experience a seamless one.

Watch the short video “Introduction to a Marketing Dominating Position”.

This video is a part of our first video in a serie of 2. Both videos and the workbooks which go with them, are available. Follow the link ……

Market Dominating Position (Part 2) – Differentiation

Market Dominating Position – Differentiation

More about what your Market Dominating Position is, is discussed in the previous blogpost “A Market Dominating Position (Part 1 ) – Introduction”

How to differentiate your business from your competitors.

There is a 5-step process to use to set  your business aside from your competitors by creating a Market Dominating Position (Or Unique Selling Point). The 5  steps are:

    1. Find your Strategic Position in the market.
    2. Determine your Primary Market Dominating Position.
    3. Establish your Supporting Business Model.
    4. Create your Market Dominating Position Statement or Elevator Pitch.

Let’s get over them one by one.

  1. Find your Strategic Position in the market.

What specific niche market or segment of the marketplace should your business focus on?

Finding your niche involves combining the skills your business has with the unmet needs of your targeted prospects. And then design your product or service to fulfill those needs.

Examples are:

        • Domino’s Pizza strategic position was fast hot pizza for hungry college kids.
        • Starbucks delicious handcrafted beverages that makes life better.
  1. Determine your Primary Market Dominating Position.

This is the most important step.  This step separates you from your competitors.

For example: Domino’s Pizza claimed it could deliver its pizza in 30 minutes or less or they would give it to you for free. This was the primary advantage that met the needs of their newly defined position. Hungry college kids that wanted food fast.

  1. Establish your Supporting Business Model.

To establish your Supporting Business Model, you must ask yourself the following questions:

    • How will you specifically deliver what your Strategic Position and Primary Market Dominating Position promises?
    • What changes, if any, do you need to consider making to your business, to ensure you deliver constantly on your position and your promise?

For Example: Domino’s Pizza build a supporting business model that enabled them to consistently provide their promised primary advantage, which was fresh hot pizza delivered within 30 minutes.

To make good on that promise every time, they were forced to create a supporting business model where they build low cost, plain vanilla stores, strategically located near college campuses.

And since these college kids weren’t the most reliable workers on the planet, they were forced to hire additional delivery staff and have additional drivers on standby basis.

Together these innovations allowed Domino’s Pizza to consistently meet and often exceed their Primary Dominating Position. And that is what you should aim for too.

  1. Determine your Secondary Market Dominating Position.

Your Second Market Dominating Position will provide you with additional competitive advantages.

The question here is, what  does your business offer that your customers will perceive as being different from your competition?

Back to our example again: Domino’s Pizza secondary benefits might include special prizing, assorted sizes, a much broader selection of toppings or additional menu items.

  1. Create your Market Dominating Position Statement or Elevator Pitch.

An Elevator Pitch is a simple statement that you can create by combining all the previous steps.

A statement like that helps you to say, without any doubt, how you are different from your competitors.

This statement shows your leads and customers/clients, why they should buy from you and not from your competitors.

Example: Domino’s Pizzas Market Dominating Position is neatly summed up in their slogan “Fresh hot pizza delivered in 30 minutes or less or its free”

Now you need to define your Market Dominating Position and then we can help you to create a powerful and compelling elevator pitch that will show your value to your marketplace.

I will discuss more about your Market Domination Position in the following blogposts.

Watch the video “Introduction to a Marketing Dominating Position”


This video is a part of our first video in a serie of 2. Both videos and the workbooks which go with them are available. Follow the link ……

 

The Resources We Provide!

Our E-Learning Marketing System is the largest collection of online resources for small business owners ever created.

Our resources help you dominate your market.

What’s This All About?

Quick Start Program:
The true measure of success for any program is its ability to produce immediate revenue and profit.

  • Our Quick Start Program walks you step-by-step through our proven 5 Step Profit Formula… and then teaches you the basic fundamentals you MUST have in place to instantly maximize your revenue and your profits.
  • Our Quick Start Program is specifically designed to help you learn the revenue-generating secrets that will enable you to out-market and out-sell your competition.
  • We’ll teach you the latest state-of-the-art marketing strategies and tactics, including how to create your very own market dominating position that will instantly separate your business from the competition.
  • We’ll provide you with all the marketing tools, advertising, sales letters, templates and resources you’ll need to generate all the leads, customers and revenue your business can handle.

How would you like a simple, proven and tested way you can double your profits with little time, effort or expense on your part?

What if we gave you our formula for success plus over $1 million dollars worth of done-for-you marketing and advertising collateral that will provide massive exponential growth for your company… starting immediately?

If you ask any small business owner what they need more than anything in their business, you get the same two answers every time… more clients and more revenue.

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We walk you through our proven and tested “5 Step Profit Formula” where we show you the exact strategies and tactics we use to increase our leads, conversions, number of transactions, sales price and net profits.

We then teach you how we “systemize” our sales processes… document them from start to finish and then “franchise our business and marketing” by licensing our proven process to others in our industry.

“After my one month trial I soon realized the missed opportunity in my past clients and immediately implemented a follow up program I duplicated using the online system. That program alone helped me generate a $1 million contract. I’ve worked one to one with the likes of Arnold Palmer and many of the greats of golf… this system is a GREAT online marketing coach! …Helped Me Generate A $1 Million Contract!

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There are a few ways we help you do this:

  1. Our entire library of proven and tested marketing strategies, advertising and tactics that will position your business light years ahead of your competition.
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Curious How this all can help you???

Make an appointment to chat. It’s FREE 🙂

When coaching-offers are “cheap”

Do you think business coach’s should ask at least $1K? Do you think when coaching is offered for less, which makes it affordable for you, it is probably useless and a waste of money?

If this is you, but you are in desperate need of a coach, then let this assumption go. For you and your business. Just because you can not do everything by yourself when you are new to the “running a business”. You may need help!

Read further why……

Let me tell you something about how I see it.

First of all a lower price doesn’t mean cheap or fake or worthless. People who say this about coaches who offer their services for less then $1K, are maybe “overpriced” coaches who see it as a treat or they are “old fashioned” coaches or business owners who are paying a lot of money for their coach. Btw, I am absolutely not saying that these coaches don’t deliver what they are payed for. They probably just earn their money by only offering one-on-one coaching. Nothing wrong with that.

So how can good coaches offer these lower prices?

Welcome to the 21-the century where computers, internet and programs like Zoom are common. Where a lot of coaches (especially nowadays with the COVID epidemic) found out that they are able to offer their services by using these options so they can give you a lower price, but still earning more.

How? Simple. Group-coaching.

The advances of group-coaching are enormously. For instance:

  • For the coach, they can help multiple business owners at the same time by answering the same question once.
  • They save a lot of money and time by going online instead of driving around from one client to another.
  • For the business owners, they hear about resolving problems they didn’t think about yet.
  • Also being a part of a group makes you more motivated to keep going, to do the right things, to not procrastinate.

At least, that is how I do it.

That is why I would like to see you becoming a part of my group.

I want to help the group of business owners like you.

  • The business owners who are not able to hire an expensive business coach.
  • Who are of no interest for these expensive coaches, just because of their lack of money.
  • Who are passionate about their product, but are not entirely clear how to do their business (but they try!!).
  • Who work hard, without seeing much of results. 

And last but not least ….. who don’t mind to be part of a group of people, all with the same goal: Become successful in their business.

Like to learn more about my program? Or like to see where you are now and where you can approve your business? Make an complimentary appointment and block off 45 minutes.

Baudina

Why Do Businesses Fail In The First Year…

An extremely high percentage of business owners give up their dreams of having their own, successful, business within a year after they started. Some manage to keep on struggling till at least 5 years, but eventually these struggling owners throw in the towel too.

There are a lot of reasons why, but what I am surprised about is that the reason isn’t always about the money. There are an entire list of reason. You are probably struggling with one or more of them.

Like overwhelm. “I have so many things to do, I don’t know where to start.”

Or fear, which results in not getting out there or not enough. “I look terrible, I am not making a video”. Or “I got a terrible review. I hate that”

Or imposter syndrome. “There are so many people out there who are way better than I am. That’s the reason why I can’t find clients”.

And these are only 3 of many.

What are you struggling with??

Comment below.

How can you prevent all of this?

You can’t. Simple as that. You will certainly run into them. All of them.

What is more important is how you handle them. How you overcome them. How you overcome your fear. How you get rid of your overwhelm.

So the question is more, what do you do to get over all these temporarily problems? Yes, temporarily, because if you let them become permanently you certainly can give up your business right away.

1. Start with your Mission and your Vision.

These two are extremely important. They show you every day why you are doing what you do and where you want to end. What your goals are.

I like to say, read them every morning, so you are motivated to keep going.

My mission is to help as many entrepreneurs as possible to get a successful business, to earn enough money to create at least a reasonable life for themselves and their family. Just so that they don’t need to go back to their old job. And that they have a legacy to leave behind for their children or be able to sell their business and create an good retirement fund.

I see myself teaching a group of people, discussing a weekly topic and helping to implement them into their business. I see my clients grow and happy to be part of this group.

This keeps me going when I start doubting myself.

2. Create an end goal and focus for a month or a week.

Work towards an end goal, which you need to finish at the end of the month. Or week if it is a small goal.

Don’t make it easy for yourself by creating an easy goal and use the entire month to finish it. You won’t help yourself or your business when you do that.

Cut this goal in small steps. Every week you finish 1 to 3 steps. Not more! And it won’t be a disaster if you can’t finish them all. You can only do as much as you can do.

Every day you make a to-do list of what you have to do to complete that week’s task.

And you also make an not-to-do list. Yes, you read it right. A NOT-to-do list. This will prevent that you get sidetracked by doing minor things you don’t need to do and which only takes time away from the important stuff.

Focus on this one goal for one month to create an habit.

Examples are:

  • Write a blog post once a week and create a post for your social media platforms 3 times that week, all referring and linked to that post.
  • Do a live video about your business 3 times a week. Give them some information about how your product helped a customer or how a customers loved your cookies. Tell a story. Something funny what happened to you. It doesn’t even have to be about your business. By doing video’s your customers learn to know you, who you are as a person. People buy sooner from someone they know, then from a complete stranger with the same product.
  • Create a newsletter.
  • Set up follow-up emails, 2 emails every week, which you can send out when someone became a customer.

3. Get help.

Almost all the business owners who just started their business are trying to do everything by their selves. Yes, I am guilty too. Nobody is perfect.

I created my own website, created my webinars, created courses, set up emails, created all my social media posts. the list went on and on. And everything together took me away from building my list and getting clients.

My general comment was “I don’t have the money to have some one else do it” Sounds familiar??

Funny thing is, if you spend a small amount of money to hire some one to take care of your email a few hours a week, you have these few hours extra time. And I bet that your time will bring in way more money.

For example if you pay a virtual assistant $20 a hour and you use her for 5 hours a week, it will cost you one hundred bucks. If you can use these 5 hours to bring in a new client and you can sell this client your product or service for $200, isn’t that worth the payment of this v.a.?

And it would probably saves you a lot of time and frustration too, because you don’t have always the expertise they have. So they can do twice as much as you can do in the same time!!

4. Get an coach

I know. I am only saying this because I am a coach. But no, that’s not the reason.

A coach can come in all forms and disciplines. Google “coach” and there is an endless list of different kind of coaches, all focused on their own small discipline. Life coach. Sport coach. Success coach. Yes, business coach.

But a coach can also be a good friend. Or your spouse. Or a complete stranger who is part of the same club as you are. A coach can be free. A coach can be payed for.

Most important is that this coach keeps you accountable. Keeps you motivated. Keeps you going. Pushes you when you need to be pushed. Helps you through the tough times when you need that help.

What do I do?

I don’t really see myself as a coach. I see myself as a teacher. I always loved to teach.

And love to help others to stay focused and motivated.

More like the high school teacher, then a modern day business coach. End goal is probably the same though.

I also follow my own e-learning program to help entrepreneurs to build their business step by step. To see them and their business grow and become successful. That make this e-learning special. You are kind of in the classroom and you have an assignment every week.

Baudina

I hope this blog post was useful. Although I only touched the tip of the iceberg, I hope it helps you to start change yourself and your business a little bit for the good. If you are interest in more information about my program just follow this link.

If you like to chat a bit about your business, you can use the messenger or email (I will respond as soon as possible) or my contact form or even make an appointment for a short chat by following this link.

Hope to hear from you soon!!

Website or LandingPage

Website or Landing Page

Do you have a website? And do you know for sure how many leads your website generates every month? Do you know for sure how many sales your website produces every month?

Most business owners have no idea.

Can I show you why your website isn’t generating leads or closing sales for you? In fact, would you like for me giving you the key to successful marketing?

You must be able to enter the conversation which is taking place in the minds of your prospects. Or another way to look at it is, you must be able to address the number one question on your prospect’s mind at just the right time. So, how do you do this?

It is actually quite simple, when you know and understand the fundamentals of marketing.

The conversation that is taking place in every prospect’s mind revolves around 2 major points:

  1. There is a problem they have and they don’t want
  2. There is a result they want but don’t have.

Now believe it or not, there is actually a marketing formula we follow that takes these 2 points into account and spits out a message so powerful and compelling, it practically forces your prospects to buy what you sell.

It’s called the Conversion Equation and it looks like this:

  • Interrupt
  • Engage
  • Educate
  • Offer

Interrupt.

The Interrupt is your headline, which means it’s the first someone sees when they visit your website, read any of your marketing collaterals or hear you speak.

When someone ask what you do, it’s the first words out of your mouth. That’s your headline. And it must address the problem your prospects have that they don’t want.

Engage.

The Engage is your sub headline, which is the second thing your prospects see or hear. It must address the result your prospects want but doesn’t have.

The educate is the information you provide, either verbally or in writing, that presents evidence to your prospects that you and your product or service are superior in every way to your competition.

Unfortunately, most businesses aren’t different from their competitors. And that is why you must innovate your business to create what we refer to as a marketing dominating position.

You must make your business unique. It must stand out from the crowd. It must make your prospects say to themselves that they would be absolutely idiots to buy from anyone else but you, regardless of price.

Offer.

And finally, the Offer. You must create a compelling offer, that makes it so irresistible your prospects can’t turn it down.

But here is another critically fundamental of marketing. Because of the saturation of marketing messaging these days, most prospects have become numb to most marketing.

Following our Conversion Equation can dramatically overcome this.

But even with this powerful tool in place, it will still take multiple touchpoints, before your prospects will buy what you sell.

For most businesses today it takes anywhere between 20 to more than 100 touchpoints, before a prospect makes their buying decision.

Following the Conversion Equation reduces the touchpoints to somewhere between 5 to 12 points per contact.

But here is the key. Most businesses don’t follow up with their prospects at all. And this provides a huge window of opportunity for any business that does follow up, to position them selves as the dominant force in their industry.

But, in order to have the opportunity to get your message in front of your prospects 5 to 12 times, you must find a way to collect their contact information.

And that is the purpose of your offer.

Most businesses offer something that only appeals to prospects we call “Now Buyers”, prospects ready to make an immediate purchase.

Unfortunately, “Now Buyers” make up less than 1% of the total number of prospects that are in the market to buy what you sell.

These businesses typically offer prospects a free consultation,  a discount, a coupon, a free assessment, a complimentary quote or the biggest mistake of all “Call Us”.

For most businesses, all of their marketing material, their website, their business card, all list their phone number as their sole offer and that only appeals to that 1% of now buyers. The remaining 99% of viable prospects are investigating and gathering information about what you sell.

They are searching for information, because they want to determine who is offering the best value. You see, prospects don’t shop price, they shop value. The only reason prospects consider price, is that most businesses don’t give them any other value proposition to consider, except price.

Remember what I said a moment ago about making your business unique?

Creating a Marketing Dominating Position.

Most businesses don’t do that. And since they, and all their competitors, look exactly the same, prospects are forced to shop price.

When your offer is to “Call Me”, it basically says “Let Me Sell You” to your prospects.

We are so used to getting nonstop sales pitches these days that we resist to call anyone, with all the fiber in our being. Most people these days won’t answer the phone unless they recognize the caller id.

This type of offers is called an incentive offer. An incentive offers only working for incentive offers, emergency situation and impulse purchases. And remember, most prospects don’t buy until they are exposed to your messaging somewhere between 5 to 12 times. If you tell prospect to call you, then most won’t.

Educate.

How can you keep marketing to them?

Obviously, you can’t. The secret to effective marketing is to offer what most prospects truly want…. Information.

This is the reason why a squeeze page is so critical. The only thing you provide is a chance to get more useful information. The offer is zero risk to a prospect. And to offer them something they truly want: A solution to their problem.

They can receive it by simply providing their name and email address without having to speak to anyone or being subjective to any type of sales pitch.

On a squeeze page there are no navigation buttons on the page to distract the prospect. In fact, there is only one action they can take. Enter their contact information. Otherwise they have to close the page completely and if they do, that is when we can redirect them to the main website, to see if there is something else that might grab their attention.

The information you provide through a squeeze page proves you are an authority in your field. And you may be the only one providing an education to your prospects.

The more the customers understand every dimension of your business and what you offer, the more comfortable they would feel when they cross that logical or emotional bridge to make their purchase.

Education increases trust and a greater perception of value. With increased value comes the ability to gain market share and take the lead over your competition.

The final question we need to ask is, what is the impact of having a squeeze page? What is possible?

One website owner was getting a 0.76% conversion rate on his website. That means that for every 1000 visitors he had between 7and 8 people buy from him. That is a standard conversion rate across the board. When he got his squeeze page, his conversion rate rocketed to 38%, 380 customers.

You may not achieve this epic result, but here is the beauty of what a squeeze page can do for you.

If you only increase your conversion rate from 1% to 2%, your business would literally double This is entirely possible with the right messaging. You state a problem people have, but don’t want. And you state the result they want but don’t yet have. 

Normally we look at a simple 5% in a business, but in this case that would be a tremendous disservice to the actual impact that you realize. Even the 10% we use is a grossly, but we realize if we use a higher number it becomes unbelievable to people. So it is best to keep our number lower so they know it is easily achievable. In this case  a 10% increase provides an overall profit impact of 25%. And an additional profit of $50000. There is typically very little cost involved when creating a squeeze page and implanting the conversion equation. This is an excellent way for any business to immediately increase both revenue and profits.

I am here for your success.

Baudina

P.S. Like to learn FOR FREE 10 Tactics to accelerate your profits? Follow this link for more information..<10 Tactics in 10 Days>..

P.S. These marketing tactic is one of many, which will be available for you if you become a member of our E-Learning System.

We also provide you with a 52-weekly program where you will receive one video and one e-class each week to bring your business to an even higher level than you are now. Without spending much more money. AND without spending a lot more time.

But there is way more. One of the many extra’s is that you also have access to an entire library filled with marketing solutions, which you can use and tweak without any extra costs.

Like to know more…Follow the link to receive a short video with all you will get when you become an member.

And….

If you have any questions, you can message me personally at Baudina@SuccessWithoutBS.com

Follow Up by Using Drip Campaigns

Follow Up

When a prospect doesn’t buy what you sell, how many times do you follow up with them?

Most small business owners focus primarily on generating leads. But remember that, on average, less than 1% of prospects are Now-Buyers.

From all the leads 99% are not ready to purchase that day, but many of them will buy some time in the future. If you continue by nurture them by staying in touch with them on an ongoing basis. Unfortunately, the fast majority of small business owners rarely, if ever, follow up with their prospect after their initial contact with them.

So why is that important?

Listen to this very carefully. Of all sales 80% or more occur between the 5th and the 12th point of contact, between the business and the prospect. 80%!

If you give up after 1 or 2 attempts, then what you are selling must not be very important. Even if you are selling through the internet, leaving the follow up process to the individually skills and moods of your staff, will prevent you of ever been on top of your market.

Are you starting to see an opportunity her?

This is where you need to implement a drip campaign and a follow up sequence.

A drip campaign automatically delivers a form of communication to customers or prospects, on a predetermined and scheduled basis.  

Here is the key to your success on this.

Through out all your communication, don’t try to sell.

Instead inform and educate.

Teach or offer your prospect something valuable every single time. That way even if they are not ready to buy what you are offering, they look forward to your contact, because you are giving them something of value, versus spamming them.

Let’s see how this works for an actual business:

A child psychologist generated 300 leads per month through his website. Of those leads 60 opted-in for his informational offer.

And of those who did, 6 of those 60 became patients of his. That meant that 54 prospects did not buy his services.

Those 54 are the prospects that now entered the doctors Drip Campaign.

Out of those 54 prospects an additional 2 of them typically bought within in the next 30 days. This is a pattern which continued month after month. Every month 54 new prospects go into the top of the doctor’s funnel and 2 additional sales per 54 prospects continues to deliver from the bottom of the funnel.

Here is what the numbers looked like over the first year.

The doctor generated approximately 3600 leads which lead to just over 700 new prospects. From the 700 prospects he got 72 new clients immediately, due to his squeeze page. Then the doctor produced 24 new clients through his drip campaign.

That nearly doubled his profits. And that is just in the first year.

Now let’s calculate how this strategy will conservatively impact your business.

Remember 80 % of the sales take place only after 5 or more contacts. And it is doubtful that any of your competitors are doing anything like this what’s so ever.

Therefor you can logically expect to see a dramatic increase in both sales and revenue.

How ever for the purpose of today’s exercise, lets stay extremely conservative and calculate just an 5 % conversion rate for your drip campaign. That is an ultra conservative estimate that a drip campaign can easily produce for your business over the next 12 months. And that conservative amount can easily double each year.  Year after Year. For as long as you keep your drip campaign in place.

You see that a simple 5% gross revenue could actually mean a 12.5% increase in profits?

As you can see from our business example there is typically no cost involved when implementing a drip campaign.

This is an excellent way for any business to immediately increase both revenue and profit.

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Now let’s get you started right now by implementing this tactic:

  •  Start following up with your leads.
  • Start your drip campaign. Create emails with useful information which you send out every week, every month, whatever works for you. Most important is that you stay in touch with your leads. Even a postcard can work.
  •  Do you have an email list with leads? Start sending emails which inform and educate. Try not to sell!
  • Place every new lead in this drip campaign.

I am here for your success.

Baudina

P.S. Like to learn FOR FREE 10 Tactics to accelerate your profits? Follow this link for more information..<10 Tactics in 10 Days>..

P.S. These marketing tactic is one of many, which will be available for you if you become a member of our E-Learning System.

We also provide you with a 52-weekly program where you will receive one video and one e-class each week to bring your business to an even higher level than you are now. Without spending much more money. AND without spending a lot more time.

But there is way more. One of the many extra’s is that you also have access to an entire library filled with marketing solutions, which you can use and tweak without any extra costs.

Like to know more…Follow the link to receive a short video with all you will get when you become an member.

And….

If you have any questions, you can message me personally at Baudina@SuccessWithoutBS.com

UpSell and CrossSell

UpSell and CrossSell

Are you familiar with upselling and cross-selling?

When you go to MacDonald’s and the person behind the counter asks if you like your meal supersized, that is upselling.  When that same person than asks if you like an apple pie to go with your supersized meal, that is cross selling.

Upselling means offering a higher grade or quality or size of the item that the customer may be interested in, at the point when the customer is ready to buy.

Cross-selling means offering other products or services which complement the item the customer is interested in, at the point when the customer is ready to buy.

Now here is what most business owners don’t realize. 34% of prospects will buy additional products or services at the time of their original purchase… if they asked to do so!

Most businesses never ask them and they lose out on this lucrative opportunity to dramatically increase their revenue.

Let me show you a brilliant example of this…

A restaurant that was experiencing reduced revenue, analyzed their profit margins on every one of their offerings. They determined their highest profit margins offers were wine, appetizers, and desserts. They then literally doubled their sales on all 3 of these by training the staff to offer them to every one of their patrons.

For example, they instructed their staff to bring in appetizer and one cart for each table, before the patrons ordered, and offered free individual samples. Then the staff repeated the same process at the end of each patron’s meal by bringing in the dessert card around.

By giving a free example of each dessert to everyone at the table, is a way to entice patrons to order one of them.

The taste and reciprocity instantly doubled their appetizer, wine and dessert sale.

But they didn’t stop there. The restaurant dramatically increased its total order revenue by implementing an initial Order Upsell Strategy with the wait-staff.

They trained the staff to describe the more expensive entrees on the menu and give the patron’s their personal recommendation. Most patrons have a tendency to go with the staff’s recommendations.

This has easily increase their total entree revenue by 15%.  Good upselling and cross-selling works like that. It makes sense. It’s natural. And everyone walks away a winner.

A lesson that this example teaches us, is that you have to take the steps and make the offer.

The philosophy behind upselling and cross-selling is simple. Your present customers trust you enough to enter into a buying relationship with you. You already gained their trust and now you have the opportunity to present them another level of products or services that you create, to offer to them and that they can take advantage of.

There are 3 questions you need to ask to make this work:

  1. What else do my clients want, if they accept my initial offer?
  2. What can I offer them right now?
  3. What can I find to offer them that my business doesn’t have, but could find from another business?

Remember that 34% of prospects will take advantage of your offer if they are asked to do so.

But since we want to be extremely careful in our estimates, lets be ultra conservative and lets say you just get 5% increase of your revenues. 5% is believable and it is certainly achievable.

upsell-and-crosssell-example

In this example we have a company with a million dollars Annual Revenue, a 20% Net Profit Margin and a 50% Gross Profit Margin.

If you make an additional sale, you already have covered the rent, utilities, salaries, insurance etc. Therefor you can measure the increased sales by Gross Profit Margins. You may have to pay commissions and hard costs, but you are left with a higher percentage.

So, if you implement your upsell and cross sell as a strategy and bring in a additional 5%, you will increase your revenue by $50.000. And since your Gross Profit Margins is 50%, you put $25000 in your pocket.

As you can see from our restaurant example there is typically no cost involved when implementing an upsell or cross-sell strategy. This is an excellent way for any business to immediately increase both the revenue and the profits.

I am here for your success.

Baudina

P.S. Like to learn FOR FREE 10 Tactics to accelerate your profits? Follow this link for more information..<10 Tactics in 10 Days>..

P.S. These marketing tactic is one of many, which will be available for you if you become a member of our E-Learning System.

We also provide you with a 52-weekly program where you will receive one video and one e-class each week to bring your business to an even higher level than you are now. Without spending much more money. AND without spending a lot more time.

But there is way more. One of the many extra’s is that you also have access to an entire library filled with marketing solutions, which you can use and tweak without any extra costs.

Like to know more…Follow the link to receive a short video with all you will get when you become an member.

And….

If you have any questions, you can message me personally at Baudina@SuccessWithoutBS.com

Down-Sell

Do you currently use a down-sell strategy?

Down-selling means:

  • Backing off from your original offer when your potential customer appears to reject it.
  • Offering something less expensive or of lower quantity.
  • Once you establish the buying relationship, upselling and cross-selling at a later date.

The key idea is to get the buyer to enter into a long-term relationship by at least persuading them to buy something.

After all, it is much easier to sell to a “client”, than it is to sell to a prospect.

When a customer comes to you, wanting to buy your goods or services, they are skeptical.

However, the fact that they walked into your door in the first place, is a moment to be celebrated. That means that you do have their momentary trust guarded, as it may be.

There are 2 questions to which you want to prepare a ready and compelling solution. Answer these questions ahead of time and you will see your revenue and profits grow.

The questions are:

  • What else do my customers want if they reject my initial offer?
  • What can I offer them right now?

For example:

A local health club always ties to sell new members a full one-year membership.

If that fails, they will try to down-sell them by offering a 90-days “health-makeover” membership.

If that fails, they may go to a 30-days membership, or possibly a one-week-trial membership.

They know if they can just get them to buy something, then the odds of them stay with them long term will go up exponentially.

When the customer is about to walk out your door without purchasing, you should have at least one final offer, that would make the customer turn around and at least spend a few dollars.

It must be something of a high enough perceived value for a low accepted price. This begins a buying relationship.

At that point your job is to think long term and to see how you can serve that customer as much as possible, so that he or she are compelled to return and give you more business.

Think about it this way…

If 100 customers come into your store or come to your website every day, and only 20 buy, it means 80 of them don’t buy.

If you can convince just 1 out of 80 to make a smaller purchase through your down-sell strategy, than you gain 21 customers instead of 20 and have possibly increased your revenues by 5%

How easy is it?

Let’s say that you spoke up, when these 80 customers were heading to the door.

You said, “Excuse me, is this your first time in the store this month?”. Most of them will say “Yes”.

Then you ask “Have you heard about our first-time-in-the-store special offer?”

Perhaps that offer is a coupon for a certain percentage off the total price.

Getting one additional new customer out of 80 would be easy. You might achieve 10 or 20 additional customers with the right offer.

Let’s say you only get one. The impact of that 5% increase is going to surprise you.

In this example we have a company with a million dollars annual revenue and 20 % Net Profit Margin and a 50% Gross Profit Margin.

If you make an additional sale, you have already covered the rent, the utilities, the salaries, the insurance, etc. Therefore you can measure the increase sales by Gross Profit Margin.

You may have to pay commissions and hard costs, but you are left with a higher percentage.

So, if you implement your down-sell strategy and you bring in a additional 5%, you would have increased your revenue by 50,000 dollars.

And since your Gross Profit Margin is 50%, you put 25,000 dollars in your pocket.

As you can see from our business example, there is typically no cost involved when implementing a down-sell strategy.

This is an excellent way for any business to immediately increase the revenue and profit.

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Now let’s get you started right now by implementing this tactic:

Answer the following 2 questions to which you want to prepare a ready and compelling solution. Answer them ahead of time.

  • What else do my customers want, if they reject my initial offer?
  • What can I offer them right now?

Have everybody in your team ready to make this last offer.

I am here for your success.

Baudina

P.S. Like to learn FOR FREE 10 Tactics to accelerate your profits? Follow this link for more information..<10 Tactics in 10 Days>..

P.S. These marketing tactic is one of many, which will be available for you if you become a member of our E-Learning System.

We also provide you with a 52-weekly program where you will receive one video and one e-class each week to bring your business to an even higher level than you are now. Without spending much more money. AND without spending a lot more time.

But there is way more. One of the many extra’s is that you also have access to an entire library filled with marketing solutions, which you can use and tweak without any extra costs.

Like to know more…Follow the link to receive a short video with all you will get when you become an member.

And….

If you have any questions, you can message me personally at Baudina@SuccessWithoutBS.com

Internet Marketing

There are a multitude of ways to grow your business through the internet and the possibilities are growing by the minute.

These are 6 principle ways to market on the internet:

  • Advertising
  • Social Networking
  • Blog and Communities
  • Search Engine Optimization (SEO)
  • Online Press Release
  • Video Marketing

1. Advertising.

Advertising on-line includes:

  • Search Engine Marketing (SEM)  Example are Google Ad Words and Yahoo Search Marketing.
  • Display advertising at ads at certain platforms. Examples are Facebook or LinkedIn. Also banner adverting or classified advertising
  • Mobile Advertising
  • Affiliate Marketing

Benefits: You are not limited in geographic reach and you can be highly selective in choosing your target audience.

2. Social Networking.

Examples are Facebook, YouTube, Twitter, LinkedIn, Pinterest, Tumbler, Instagram, Reddit and many more.

Benefits: Social Networking gives you an increased brand recognition and brand loyalty. Furthermore, because you are being social with people, you will have higher conversion rates. And there should also be a decrease in marketing costs.

3. Blog Networks and Communities.

  • You can educate and build expert-status through blogging.
  • You can expand your influence through DMOZ, Alltop, Technorati and hundreds of others.

Benefits: There is almost no costs except for your time. Links from blogs to your website give it a higher ranking in the search engines. Also, it is possible to get a temporary stream of traffic from your blog to your website in a short period of time.

4. Search Engine Optimalization (SEO).

While advertising on Google and Yahoo can instantly get your website to the top of the page of the search results, SEO is the practice of getting your website ranked at the top of search engine results without advertising

Benefits: In an uncrowded market it is much easier to get your website ranked at or near the top of the search engines. Furthermore, your customers will tend to trust your site more over those that pay advertising costs to be there. Clicks to your website are free.

5. Online Press releases.

You can make a company announcement and send it to all the media outlets using online press releases. If you are fortunate a media outlet might pick a story and than you get increased exposure which might lead to sales.

Benefits: Press-releases gives your business credibility and the change to have media outlets interview you. One media interview could have 5 times or more the impact of a paid ad in the same media. The links from press releases also help your Search Engine Optimalization.

6. Video marketing.

If a picture is worth a thousand words, a video can have an even greater impact on your target market. You can post videos on YouTube or hundreds of other sites. You can livestream through Facebook or other sites,

Benefits: Video can be engaging and memorable, if they are done well.They can also tell a greater story with more depth and emotion than the written word. They are easily shared and are a powerful medium.

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You don’t have to be an expert in all these things. You do have to have a relative expert on your staff, or you need to outsource it.

Now think about this… if you are getting a thousand leads a year from the internet, is it conceivable that you could grow that by 5% without much effort?? 5% is just 50 leads per year. That is only 1 lead a week.

With any minimal effort we can accomplish this and much, much more. And that easy 5% could lead to an impact of 12.5% on your profits.

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Here is a proven idea to get you started right now:

  • Write out a list of the top and most frequently asked questions you hear from your prospects and clients.
  • Write out the top 10 questions they should be asking you. These are the questions they need to know about your product or service, but don’t.

Remember this important marketing proof: People want to do business with an expert. Someone who can help them with accomplish their goals and objectives.

These 20 questions position you as the expert. The first 10 questions give them all the answers they have about what you do. The next 10 establish your credibility and begin to build report.

The content you provide educate, informs, entertains and builds report with your prospects. That gives them a sense of connection with you and create an emotional relationship.

  • The third step is to create a 30-second to 2 minutes video for each of these 20 questions. You can do this with just your cellphone.
  • The forth step is to create a landing page where people can subscribe to get all your videos or to learn more about you and your business. This captures their contact details and allows you to continue to educate and to market to them through a drip campaign.
  • The final step is to upload your video’s to as many video sharing sites as possible. Once you submit your content, the search engines will gobble up your videos in a few hours and you will be indexed.

Search engines love videos and in 24 to 48 hours you will see your organic rankings rise dramatically and you will begin to see an increase number of prospects coming to your site.

When a prospects watches any of your videos and than visit your site, they are 5 to 20 times more likely to take action than they would from an ordinary link or a payed advertisement.

  • One more thing…You can re-purpose the transcript of your video’s and create blogs around them or you can take the audio’s and use them in podcasts. In this way you reach an entirely different market.

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Are you beginning to see how you can easily increase your leads by just one lead per week, which could equate to 12.5% impact on your profits? As you can see from the options at our disposal there are a multitude of ways for any business to immediately increase both revenue and profits.

I am here for your success.

Baudina

P.S. Like to learn FOR FREE 10 Tactics to accelerate your profits? Follow this link for more information..<10 Tactics in 10 Days>..

P.S. These marketing tactic is one of many, which will be available for you if you become a member of our E-Learning System.

We also provide you with a 52-weekly program where you will receive one video and one e-class each week to bring your business to an even higher level than you are now. Without spending much more money. AND without spending a lot more time.

But there is way more. One of the many extra’s is that you also have access to an entire library filled with marketing solutions, which you can use and tweak without any extra costs.

Like to know more…Follow the link to receive a short video with all you will get when you become an member.

And….

If you have any questions, you can message me personally at Baudina@SuccessWithoutBS.com