19 business suicide strategiesmepersonalised

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19 business suicide strategiesmepersonalised

  1. 1. For The Minority Of Business Owners Who Really Want To Improve Their Profits The 19 Business Suicide Strategies That Are Costing You£Thousands Every Year ‘FATAL MISTAKES’ You Must Absolutely, Positively Eliminate From Your Businesses
  2. 2. ContentsContents ........................................................................................................................... 2The 19 Business Suicide Strategies That Are Costing You £Thousands Every Year.......................................................................................................................................... 4 ‘FATAL MISTAKES’ You Must Absolutely, Positively Eliminate From Your Business Right NOW! ............................................................................................................................4SUICIDE Strategy 1 ....................................................................................................... 7 Marketing To Everyone ...........................................................................................................7SUICIDE Strategy 2 ..................................................................................................... 10 Not Having A Unique Selling Proposition (USP) ..................................................................10SUICIDE Strategy 3 ..................................................................................................... 12 Not Using All 3 ‘Business Multipliers’ ..................................................................................12SUICIDE Strategy 4 ..................................................................................................... 15 Only Using A Small Number Of Marketing Strategies ..........................................................15SUICIDE Strategy 5 ..................................................................................................... 17 Not Having A Sales And Marketing System ..........................................................................17SUICIDE Strategy 6 ..................................................................................................... 20 Using ‘Institutional’ Advertising ...........................................................................................20SUICIDE Strategy 7 ..................................................................................................... 25 Failing To Use Testimonials ..................................................................................................25SUICIDE Strategy 8 ..................................................................................................... 28 Not Having A Risk Reversal Or Guarantee In Place ..............................................................28SUICIDE Strategy 9 ..................................................................................................... 32 Not Using ‘The Acres Of Diamonds Principle’ .....................................................................32SUICIDE Strategy 10 ................................................................................................... 35 Not Keeping In Touch With Customers And Prospects At Least Once A Month ..................35SUICIDE Strategy 11 ................................................................................................... 37 Not Charging The ‘Perfect Price’ For The Product Or Service ..............................................37SUICIDE Strategy 12 ................................................................................................... 42 Not Testing Your Marketing Strategies Or Using The ‘Minimum Risk-Maximum Return Formula’ ................................................................................................................................42SUICIDE Strategy 13 ................................................................................................... 48 Not Checking Communications For Spelling Mistakes And Other Simple Errors .................48SUICIDE Strategy 14 ................................................................................................... 51 Sending Brochures/Catalogues Out Without A Sales Letter ..................................................51SUICIDE Strategy 15 ................................................................................................... 53 Not Having A Referral Process Or System ............................................................................53 -2- 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  3. 3. SUICIDE Strategy 16 ................................................................................................... 57 Not Having A Marketing Plan ...............................................................................................57SUICIDE Strategy 17 ................................................................................................... 59 Not Calculating And Profiting From Lifetime Customer Value .............................................59SUICIDE Strategy 18 ................................................................................................... 65 Failing To Calculate The Cost Of Losing A Customer ..........................................................65SUICIDE Strategy 19 ................................................................................................... 69 Not Using Headlines ..............................................................................................................69CONCLUSION ............................................................................................................. 73 These Suicide Strategies Can Seriously Damage Your Business’s Health .............................73 -3- 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  4. 4. NOTES The 19 Business Suicide Strategies That Are Costing You £Thousands Every Year ‘FATAL MISTAKES’ You Must Absolutely, Positively Eliminate From Your Business Right NOW! e see it every day. People making these fatal W mistakes. And even if they’re not fatal, they are having a massive detrimental effect on a business. Its not that the business owners are doing it on purpose. Of course not. It’s just that these Suicide Strategies are being adopted because people simply dont realise that what theyre doing is having a catastrophic effect on their businesses. Call it ignorance. Call it lack of knowledge. Lack of marketing savvy. Call it what you like. The point is that almost every business is wasting hundreds of thousands of pounds because they’re using these Suicide Strategies – without even knowing it! Statistics tell us that 80% of businesses go out of business during the first five years they’re in business. And of those that remain, 80% will not be in business ten years from when they started. That’s a scary but true statistic – especially when you think these figures don’t include the current recession! Yet, even with what seems like an almost impossible task, people still take their dreams into the marketplace with little or no planning and with little or no regard for the harshness and cruelty of what the marketplace can bring, without proper planning and ‘marketing savvy’. In fact the success and failure of any business is almost entirely down to how well the business is marketed – and not down to how good the product or service is – or the people in the business! This may be difficult for you to agree with at the moment, but as you read through each one of the following -4- 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  5. 5. Suicide Strategies you’ll quickly understand that ‘He whoNOTES markets most effectively – wins – and wins big.’ That’s why inferior products and services have stood the test of time. It’s because they were (and are) marketed well – better than superior products and services. And that’s why hundreds of brilliant inventions fail to materialise every single year. A good product or service is nothing without effective marketing. So what do we mean by effective marketing? To be precise, effective marketing is the ability of the business to consistently and repeatedly get people to buy the products or services they sell whilst at the same time extracting as much profit out of each customer over the duration of the relationship. When you understand what effective marketing means, it’s easy to appreciate why businesses all over the world struggle or don’t do as well as they should… They simply haven’t found a way(s) to generate a constant stream of customers and keep them buying – time after time. This is WHY businesses fail – or don’t prosper as much as they should. Sure we’ve all heard of the excuses…  Too much competition  Price-sensitive market  Poor staff  Economic slowdown/recession  Blah, blah, blah! But when the business owner dedicates a large proportion of their time to effective marketing, then they make the business ‘immune’ to outside factors such as the competition. (Incidentally, a big part of what we do when working with clients is to create so much differentiation and added value in the market that they often eliminate the competition from the minds of customers.) Better still… Because these Suicide Strategies are SO common, this presents a huge opportunity for you right now. We guarantee your competition will be committing these Suicide Strategies -5- 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  6. 6. in their own businesses. Strategies they’re not even aware of.NOTES Suicide Strategies you can now transform into winning strategies. By looking at the Suicide Strategies and what negative impact each one has on a business, you’ll get an appreciation of the significant improvements you can make in your own business. You’ll be able to spot the Suicide before it happens. And you’ll ultimately be in a position to transform each of your Suicide Strategies into powerful marketing strategies that generate windfall profits the moment you take action! As you read through each Suicide Strategy, think about your business and see how well you’re doing in each of the areas – are you right now committing suicide on your own business? Some Suicide Strategies are admittedly worse than others. Some can be catastrophic (hopefully you aren’t committing any of these!). But if you catch them soon enough – you’ll have time to act. And ACT is what you must do. If you keep doing the same things – you’re going to get the same results. If you take control of your business and ensure you avoid making these Suicide Strategies, you can expect truly amazing results! That’s the true purpose of this manual. Identify what you’re doing wrong, put it right, and skyrocket the sales and profits of your business. PLEASE NOTE: After each Suicide Strategy you’ll see a box like this explaining how we, as an organisation, help our clients eliminate the Suicide Strategy from their businesses and create a powerful profit- producing alternative. Please read these ‘Side Bar’ comments. They will help you further understand what incredible results can be achieved when you transform your business using System 4Results™. Okay, lets get started... -6- 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  7. 7. NOTES SUICIDE Strategy 1 Marketing To Everyone “You can’t be all things to all men.” e know this may come as a shock to you, but its W true. You cannot hope to market your products or services to everyone even if you think everyone needs them. We’re not saying you cant be successful doing this. What we’re saying is business owners really do limit their potential by not focusing on select groups of people or businesses. These specific groups are called ‘niches’. By focusing on one or more niches you will connect with these people at a much higher level, and consequently automatically gain more business. Im sure youve heard people say things like, “This person really connects with me, and they really understand my business.” This is what you do when you choose to market to these different groups. Think about it… It stands to reason that certain groups of people or businesses are likely to want and need your products and services more than others. More importantly your niche must focus on the groups who can AFFORD your products or services. There’s no point in targeting groups who want and need your products or services if many of them can’t afford to buy or pay for them! A common question we’re often asked is this – “If I limit my market, won’t I be reducing the chances of doing business with more people?” Of course this is a concern you may have too, but to succeed in today’s competitive market place, you need to concentrate your marketing on a smaller number of well- chosen segments or niches, into which you pour all your marketing resources. A niche market is a specific group of people or businesses that want and need your service and can afford to pay for it! -7- 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  8. 8. Because you are targeting smaller numbers, the sameNOTES amount of money you were previously using to acquire customers, is spread across a smaller number, and therefore you have more to spend on each prospect than you would if the market was bigger. This alone makes you more successful. In a nutshell, the ideal niche market is the segment(s) that represents your best chance of getting a good return from your marketing efforts. These niches are critical to you. Of course, if you focus on a smaller group you may not get the business of other people or businesses outside the target group. However, what actually happens is you increase the amount of business you receive from the target group(s) or niche(s). This is because you are now specifically meeting the needs and requirements of the chosen niche. You’re saying to them that you are THE company that knows about their situation. No other company specifically meets their needs in this way, and therefore you are seen as the logical company to turn to. Here’s an example to show the power of defining your market or niche… Let’s say you’re a start-up business and you need an accountant. Your first choice is to look in the Yellow Pages® under the ‘Accountant’ category. Although there are a number of ads, the first one reads… ‘ABC Chartered Accountants. Tax preparation, auditing, bookkeeping, payroll services, help for start-ups, management accounts’, and so on. The second ad reads… ‘XYZ Chartered Accountants. Specialising in helping start-ups get their businesses running quickly, profitably and effectively.’ Which firm of accountants are you likely to choose? The answer is obvious, but it serves as a good example to show how effective this strategy is – yet how widespread it is that few businesses follow this simple approach! -8- 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  9. 9. If you can create this bond between you and your nicheNOTES market(s) we guarantee you’ll grow your business to unprecedented levels. Thats the power of niche marketing. By concentrating on specific groups, you can achieve very high market shares in that particular segment because people automatically come to you. You will ‘own’ the market. You’re viewed as the only choice because your product or service is ‘designed’ to solve the specific problems of those people. An obvious example is SAGA who cater for the over-50s. Not focusing on one or more niches is perhaps the biggest Suicide Strategy! And for you it represents your greatest opportunity! SIDE BAR COMMENT: No matter what anyone tells you – your target market is by far the most important element of your entire sales and marketing. Get this spot on, and anything is possible. Get it wrong and growing your business is harder and more challenging than it really should be. Put another way, you can send a poorly written and executed sales letter to the right people and get decent results. Send a fabulous sales letter to the wrong people and it will bomb. That’s why getting the target market right has to be the first and most important element of growing your business. That’s why our System 4Results™ Specialists spend a considerable amount of time making sure you have one or more carefully chosen niches identified. This can be painstaking work for our guys but it always reaps rewards as soon as our marketing strategies are unleashed. Just remember EVERYTHING starts with target market. Nothing should ever be done until your niches have been clearly identified. -9- 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  10. 10. NOTES SUICIDE Strategy 2 Not Having A Unique Selling Proposition (USP) This will knock your socks off… his is by far the most common Suicide Strategy T people make. Let us explain…USP is the one thing that differentiates your business from your competitors in the minds of your customers and prospects. The USP is what makes the difference between having a truly outstanding business or merely a good one, or worse still a poor one. Occasionally the USP already exists in your business – you just need to discover it and then articulate it in a way that makes you stand out from the crowd. However, in most cases the USP has to be created, often out of ‘thin air’. We can’t stress enough how important this is to you. How can you expect your customers to be able to choose you, over and above any of your competitors, if the customers can’t quickly see what it is you do that is so unique and beneficial to them? Outstanding businesses have been founded on a USP alone. For example, heres a very well known USP… "Red hot pizza delivered to your door in 30 minutes or less - guaranteed." Tom Monahan of Domino’s Pizza created one of the most successful fast-food franchises in the world from the strength of this USP. So did Fred Smith of FedEx (“When it absolutely positively has to be there overnight – FedEx”). Please dont dismiss the importance of USP. We guarantee your competitors are unlikely to have one. This will make a massive difference to the growth and profitability of your business. Plus, there are other factors to consider… If you are viewed by your customers and prospects as being the same as your competitors, what do you think becomes the important criterion when customers want your product or service? That’s right – price. - 10 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  11. 11. There’s no hiding the fact that as soon as you create theNOTES USP, you automatically take your business out of the ‘price war’ and into the nirvana of higher prices/fees – and less competition! And that, my friend, is the power of USP. SIDE BAR COMMENT: We’ve actually used the term ‘USP’ here because most people have heard of it. In actual fact we prefer to use the term – ‘Unique Perceived Benefit’ (UPB). That’s because most business owners are so poor at promoting their uniqueness, that if you’re the only one promoting the benefit – even if it isn’t unique – it is of course perceived to be unique. In other words, let’s say your ‘Midas Touch’ gadget has this big benefit – you point it at any wooden object and it turns it into gold. This big benefit, although amazing, isn’t unique – three of your other competitors have the same benefit on their gadgets. However, these three competitors don’t communicate this benefit (even though it’s a major one). On the other hand, you do communicate it. So in the minds of your prospects, only YOU offer this fabulous benefit, making it unique. That’s what Unique Perceived Benefit is all about. So although identifying the target market is always our first and most important priority, the next thing we do for our clients is to articulate the UPB in one or two sentences. This alone can have an immediate and significant impact on your sales and profits. - 11 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  12. 12. NOTES SUICIDE Strategy 3 Not Using All 3 ‘Business Multipliers’ H ow many ways do you think there are to grow a business? You may be surprised to learn there are just three ways. Each one of these is what we call a ‘Business Multiplier’. You must use all three Multipliers to successfully grow your business. If you do, we guarantee your business will reach, or at least get very close to, its potential very quickly. It is our estimation that no matter how young or old or successful (or not) your business is, you will be only using one or possibly two of these Business Multipliers (and the ones you’re using could be improved significantly). Here they are… The 3 Ways To Grow A Business ‘The Business Multipliers’  MULTIPLIER 1: Lead Generation – Getting More Qualified Leads  MULTIPLIER 2: Sales Conversion – Generating More Customers From Your Leads  MULTIPLIER 3: Customer Maximisation, which includes: - Increasing the Average Sales Value - Increasing the Number of Purchases - More Referrals from Customers - Increasing Buying Lifetime - Reducing Customer Losses There are numerous proven strategies you can apply to massively improve each of these three Business Multipliers and by combining the power of each Multiplier you have the ability to grow your business to heights you never thought possible. - 12 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  13. 13. NOTES SIDE BAR COMMENT: Applying the Business Multipliers is perhaps one of the easiest ways to grow any business. That’s why all our media pieces (see next Side Bar) fit conveniently into one of the Multipliers. It’s just a matter of choosing the most appropriate media piece for each media and for each Multiplier (depending on your business), executing them correctly and then optimising each one so you get the greatest return for the least amount of money spent. Of course, once again the skill is choosing the correct media pieces and then creating them so they generate windfalls of cash for your business. In effect what we put in place for our clients is a number of strategies all working in harmony within each Business Multiplier. This is the foundation of System 4Results™ (SEE NEXT PAGE). - 13 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  14. 14. NOTES - 14 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  15. 15. NOTES SUICIDE Strategy 4 Only Using A Small Number Of Marketing Strategies ore often than not people come to us and say, “I’m M just not able to grow my business. I’ve tried lots of things, but nothing seems to work.” The first question we ask is this, “How many media channels (such as Printed Media (newspapers, Yellow Pages®, magazines etc), E-Media (internet, Google etc), Direct Mail (letters, postcards etc) and media pieces (the physical marketing piece used in each media channel to communicate your message – such as an advert in a local newspaper) are you using at the moment?” I think you can see where we’re going with this. The reply often goes something like this… “Well we do some Yellow Pages® advertising and send some letters out.” Despite your success, you’ll probably find you only use one or two or a handful of media channels and media pieces. Now we’re not saying you can’t have enormous success just from using the likes of Yellow Pages® advertising and sales letters, but just think what you could do if you applied an extra 5, 10, 15, 20 or more proven media pieces across each Business Multiplier to grow your business. What effect would this have if each media piece was working and returning a profit for you? This is how you create multiple streams of income. How many media pieces you’re using right now? - 15 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  16. 16. NOTES SIDE BAR COMMENT: You may have read that there are hundreds of media pieces (commonly – but incorrectly called ‘marketing strategies’) that any business can use. There’s a big problem with this – which ones do you use for YOUR business? Luckily through all the testing we’ve done since 1995 we’ve whittled this number down to a much more manageable level, and a number that we know with complete certainty will work in practically any business (as long as they are executed correctly). Our philosophy is simple – use as many proven media pieces as possible, but launch them gradually into the business, so the business can cope with the increase in sales. In fact we will only ever launch up to 6 strategies at a time. Experience has taught us to ‘drip feed’ our strategies into our clients’ businesses due to the incredible results they often produce. We take control of the process using our System 4Results™ Action Plan. And remember, each media piece is linked directly to one of the Business Multipliers (see System 4Results™ diagram on page 14). - 16 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  17. 17. NOTES SUICIDE Strategy 5 Not Having A Sales And Marketing System t’s not often we walk into a business and find a sales I and marketing system in place. What we see repeatedly is haphazard marketing followed by ineffective sales. This is caused by the omission of any structured system or process. It may surprise you to learn that sales and marketing need to work hand in hand. Both are reliant on each other. To succeed in today’s highly competitive market place a business must be a ‘sales and marketing machine’. Even if you are the number one expert in your field with the best service or product imaginable, you will never achieve the rewards you deserve unless you master sales and marketing. And that’s good. Why? Because you have already taken steps to correct this by reading this manual and of course our book titled ‘Why Most Marketing Doesn’t Work & How You Can Fix It’. As we mentioned earlier, inferior products and services are thriving because the business is able to market and sell effectively. Conversely, superb products and services are failing for one reason and one reason only – the business is poor at the sales and marketing functions. Why have a sales and marketing system? It’s quite simple really. Marketing as we see it is all about generating qualified prospects/leads for the business (Lead Generation – Business Multiplier 1). Sales is all about converting these prospects/leads into customers and then maximising the profit from each customer (Sales Conversion and Customer Maximisation). There are several set stages every business has to adhere to in order to maximise the effectiveness of both sales and marketing. No matter what product or service you sell, you must have these stages in place. I know you might think your business is different. But let us ask you two simple questions… - 17 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  18. 18. NOTES Do you need profitable customers? Do you need to keep them once you’ve got them and ensure they keep buying from you? You see, every business is the same. They need a steady supply of customers and once they’ve got them, they need to keep them and maximise profit throughout the duration of the relationship. Acquiring and keeping customers whether you’re an accountant or a printer involves similar stages. Ultimately you need to understand that no matter what product or service you sell – you’re in the business of ‘sales and marketing’. SIDE BAR COMMENT: Perhaps the easiest way to understand this is to picture a car on a manufacturing line. It starts off as a shell but by the end of the line it’s transformed into a fully working vehicle. This process is a seamless one where each component part added is vital to the end result. If one part is omitted or fitted incorrectly, the vehicle produced at the end of the line won’t work properly or perhaps won’t work at all. But when everything is fitted correctly and in order, the vehicle is ready to be sold. And why do they use a manufacturing line? Three reasons…  It ensures the best results are attained almost always  It speeds the whole process up considerably  It is the most efficient, productive way And it’s the same with your own sales and marketing system. - 18 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  19. 19. NOTES Now, each business will require different components but as you can see from the System 4Results™ diagram on page 14, the system itself is applicable to every business. And notice the system is a seamless process automatically including the three Business Multipliers! - 19 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  20. 20. NOTES SUICIDE Strategy 6 Using ‘Institutional’ Advertising e would say 99% of people still use this W technique. Institutional advertising is advertising that doesn’t ask for a direct and instant response. It is characterised by ads that have…  The company name as the headline at the top of the ad…  Very little copy on the ad…  A list of products or services provided by the company…  Lots of white space…  Lovely pictures or images with no direct relationship to the product or service sold…  No incentive to call now… etc. Pick up your Yellow Pages® directory and go to any page. You’ll see this type of ad all over the place. We urge you to stop advertising like this right now. Your ads may be working okay, but in reality you are losing thousands (you should be making much more money). Institutional or image advertising is fine if all you want to do is promote the image of your company, your products, or the services you offer. But let us tell you – image itself doesn’t generate sales! And when you consider the fact that people really don’t care about a business, or what the business sells – image or institutional advertising is a complete waste of money. Always remember this… People don’t buy products or services – they buy the result. They buy ‘What’s in it for me?’ They buy a solution to their problem(s). It’s true that institutional or image advertising can help build ‘brand-awareness’. And that’s okay for large corporations such as Coca-Cola. They have multi-million pound advertising budgets (having said that, these companies would prosper even more if they used direct response advertising). - 20 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  21. 21. But most small or medium-sized businesses simplyNOTES cannot afford to spend their hard-earned money like this. What would you prefer? Advertising that generates sales almost immediately (direct response), or advertising that builds name awareness or the ‘brand’ (institutionalised advertising) – in the hope that sometime in the future someone who wants the product or service remembers the ad and may or may not decide to buy from you? Do you really have any option? Consider the two adverts on the following pages. Both ads are promoting the same product. Both ads cost the same amount of money to place in each print trade magazine. Compare the two ads. One ad is a ‘traditional’ institutionalised ad and the other is a direct response ad. Which ad do you think generated £1,500 worth of sales and lost money, and which ad is still working today – six years after its first placement, having so far generated several million pounds in over 18 different countries! As you can see, the direct response ad shows the reader the benefits of the product and explains the steps he or she must take to get the ‘Information Kit’. It’s written to give enough information to elicit an immediate response, to send in the coupon, or to pick up the phone and call for the information. Each ad is accountable, measurable, and tracked to ensure the ad is running at a profit! And this is just one example! We could show you hundreds more that have generated millions of pounds for the advertisers. Every one of these ads are direct response ads. NONE are institutionalised ads! Hopefully that’s enough to make the point! We guarantee as soon as you start writing direct response adverts (i.e. those characterised by powerful headlines, large amounts of copy written in a very personal style, a reason to call now, a free bonus for calling – special report, etc., etc…) you’ll increase your responses and sales many times over. And your profits will skyrocket! Break from tradition. Start writing ads that give you a fast and immediate response that you can monitor and assess in terms of cost and return. - 21 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  22. 22. You’ll not only save money – but make much moreNOTES money by following this advice! ‘Classic Institutionalised Ad’ - 22 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  23. 23. NOTES ‘Classic Direct Response Ad’ - 23 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  24. 24. NOTES SIDE BAR COMMENT: Most people we meet fall into two categories… 1. We don’t advertise because it doesn’t work 2. We advertise but we use institutionalised ads (or brand building ads) Which category are you in? If you’re in (1) this is likely to be for one of four reasons…  You chose the wrong publications (i.e. the target market was wrong)  The ad you used was in all probability an institutionalised ad  If it was an institutionalised ad, you realised you couldn’t keep advertising long-term because of the cost for little or no return  If it was a direct response ad, it wasn’t put together by a direct response expert If any of these reasons apply to you then your advertising could and should be generating you significantly more than it’s doing at the moment. If you fall into the second category, simply transforming your ad into a direct response ad will give you a lift in enquiries or sales (depending on the objective of your ad) that you never thought would be possible! Either way, our System 4Results™ Specialists all know how to create powerful direct response ads that could transform your business literally overnight! - 24 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  25. 25. NOTES SUICIDE Strategy 7 Failing To Use Testimonials et’s be honest - selling isn’t easy. Unless a prospect is L convinced the product or service will give them the result they’re seeking, the sale won’t be made. And what people say themselves about their business and their products or services is often taken with a ‘pinch of salt’. After all, we’re all sceptics these days. So how can you almost instantly prove to the prospect you can deliver on your promises? It’s actually much easier than you may think. All you need to do is use ‘customer testimonials’. Again we can’t tell you how often we see businesses trying to sell and market their products or services without the use of testimonials. They make life very, very difficult if they don’t use testimonials. Testimonials have the power to get customers by the bucketful (we also call this ‘Social Proof’). Take a look back at the direct response ad on page 23. Notice how much credibility the testimonials add to the sales copy. Notice how believable the ‘story’ now becomes. Without testimonials this ad would have been nowhere near as successful. Here’s a simple example from a firm of personal injury solicitors… Notice the number of benefits in this one testimonial alone…  Understanding and helpful - 25 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  26. 26.  Make time to talkNOTES  Returned many calls  Nothing was too much trouble  Helpful home visits  Worked hard to get the best result If you were looking for a personal injury lawyer, don’t you think this testimonial would make you believe this firm would do all they could to get you the best possible result? And that’s just one of dozens they got, many with the damages amounts given, just like this one… (Please note: Each testimonial when shown includes the full name and partial address of each client, although we’ve omitted them here for obvious reasons.) You can’t have enough testimonials. Place them in all your marketing communications. Place them in every place where your prospects will see them – in your offices, in your reception areas, on your walls. Blow them up and parade them. Use video, audio and written testimonials and you’ll see an immediate and noticeable difference in your sales and profits once you start using them. - 26 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  27. 27. NOTES SIDE BAR COMMENT: Don’t think ‘But my customers won’t give me testimonials’, because our unique ‘Testimonials By The Dozens Letter’ ALWAYS works. Just like it did in the case above. The ‘Social Proof’ you provide in your marketing (‘testimonials’ is one small part of Social Proof – 1 of the 7 elements) has a direct impact on the level of sales you make. In other words – the more Social Proof in your marketing, the more sales you make and vice versa. So we work hard to get each Social Proof element into our clients’ sales and marketing system, ensuring an increase in sales. - 27 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  28. 28. NOTES SUICIDE Strategy 8 Not Having A Risk Reversal Or Guarantee In Place isten to us carefully… If tomorrow you put in place a L powerful risk reversal or guarantee, youll be staggered by the success it achieves in the coming days, weeks, months and years. As you know, the benefit of any product or service is gained after the sale is made. Sometimes this can be days, weeks, months or even years after the first sale was made. This in itself places an enormous risk on the shoulders of would-be clients or customers. It’s this risk that often prevents them from buying. However, if you lower or eliminate this risk, then the natural consequence is people will be more inclined to buy. That’s the secret of creating a powerful risk reversal. A risk reversal is nothing more than a simple method that takes the barriers away from the sale and ensures the prospect keeps progressing towards the sale. As soon as you add a risk reversal or guarantee, it…  Removes the risks of buying, ensuring more customers are gained  Automatically differentiates the business from the competition  Adds value. Prospects will value your products or services much more, because they’ll assume the product must live up to expectations, or the business must be excellent at delivering the service (“Why would they offer a guarantee if the product or service wasnt great?”) The result is a BIG increase in sales, and an avalanche of new clients or customers! The ultimate aim is to guarantee the result or main benefit of your product or service, and add a ‘penalty’ should the service or product fail to live up to your promises. Here’s how it looks… - 28 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  29. 29. NOTES Guarantee the result or Perfect Penalise your business if Guarantee = benefit of your + result not achieved product/service Here’s a simple example of how risk reversal works: A man wants to buy a puppy for his daughter. He responds to two ads in the local newsagent’s window. He examines the first puppy and it seems ideal in temperament and looks. The owner says to the man, “If the dog isn’t right for your daughter, bring it back in one week and I’ll give you your money back.” Clearly he appreciated the value of risk reversal but he didn’t fully understand it! The man then goes to look at the second puppy… Again it seems ideal in temperament and looks. Only this time the owner says, “Your daughter is obviously looking forward to her new puppy and it’s important that she’s totally happy with it. Please take the puppy, let your daughter play with it, look after it, and get to know it. If after three weeks the puppy is not right for her, bring the puppy back, and I’ll refund your money in full and give you £25 for your time, effort and trouble.” Now this man really understands risk reversal. First he extended the ‘trial’ period. He knows that his puppy is a good dog. He also knows after three weeks the puppy and girl will be inseparable. He totally reverses the risk. You also need to understand this… The company that reverses the risk, automatically gains competitive advantage and wins more business – in fact much more! This competitive advantage is very significant when attracting new clients or customers to your business. Here’s another example. It’s one of the best we’ve ever seen. It’s from a pest control company called BBBK. Their guarantee is aimed at hotels and restaurants: - 29 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  30. 30. NOTES “You don’t owe one penny until all the pests on your premises have been eradicated…if you are ever dissatisfied with BBBK’s services you will receive a refund for up to 12 months of the company’s services…plus fees for another exterminator of your choice for the next year. If a guest spots a pest on your premises, BBBK will pay for the guest’s meal or room, send a letter of apology, and pay for a future meal or stay…and if your facility is closed down due to the presence of roaches or rodents, BBBK will pay any fines, as well as all lost profits, plus $5,000.” Although we don’t know for certain, it’s easy to assume several things about BBBK from this guarantee:  They are very good at pest control  They understand the concerns of their customers with regard to hygiene  They are very successful at attracting new customers!  They are probably providing very similar services to their competitors. However, they understand risk reversal. Their profits I’m sure will reflect this! Hopefully you now have a basic grasp of risk reversal and what it can achieve for your business. If you’ve given any thought to the strategy several questions may be entering your mind… “Won’t people try to abuse what I am offering?” “Won’t I lose a lot of money with this?” The key, of course, to successful risk reversal is this – if you offer a good product or service then you have nothing to worry about. Unfortunately we cannot say no one will ask for a refund or for their money back (or whatever your risk reversal states). What we can say is that for every one of these, you will attract many more prospects and customers by simply offering a risk reversal in the first place. Don’t worry about this. Your risk reversal strategy is usually the one thing that tips the scales in your favour. - 30 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  31. 31. Because you offer risk reversal your prospect thinks andNOTES assumes the following things about you… 1. If you’re offering this risk reversal, you must be very good at what you do 2. You would be ‘stupid’ to offer such a guarantee if you were poor at delivering your promises 3. In the prospect’s mind the risk reversal has ‘proven’ to him or her that you can give them exactly what they need 4. More importantly, when most people choose to buy a product or service, they choose it for perfectly good reasons and intentions. And they spend time making their decision. They wouldn’t choose you in the first place if they wanted to capitalise on the risk reversal Isn’t it time you put in place a risk reversal or guarantee for your business? SIDE BAR COMMENT: This is one strategy that should be mandatory for every business! The good news (as with the majority of these Suicide Strategies) is most businesses are failing to capitalise on the power of guarantees and risk reversal. We have a system for identifying THE most powerful guarantee for any business we work with. We call it the ‘Sales Barrier Demolition Workshop’ and when you see it all come together, you’ll be literally astonished to see the effect it has on your business. The Workshop typically lasts for two hours and is of course conducted with you – so you can see it come together whilst giving you complete understanding and input into it. We guarantee you won’t have ever seen anything like this before! - 31 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  32. 32. NOTES SUICIDE Strategy 9 Not Using ‘The Acres Of Diamonds Principle’ e can go into almost any business and release W thousands of pounds of revenue and profit, literally overnight. We can do this NOT because we’re expert marketers (we are), but because we tap into ‘The Acres Of Diamonds Principle’ that every business possesses. Often the difference between people like us and anyone else is that we know where to look, and we know what to do What is this ‘Acres Of Diamonds Principle’? Let us explain… One of the most interesting Americans who lived in the 19th century was a man by the name of Russell Herman Conwell. He was born in 1843 and lived until 1925. He was a lawyer for about fifteen years until he became a clergyman. One day, a young man went to him and told him he wanted a college education but couldnt swing it financially. Dr. Conwell decided, at that moment, what his aim in life was – besides being a man of the cloth, that is. He decided to build a university for unfortunate, but deserving, students. He did have a challenge, however. He would need a few million dollars to build the university. For Dr. Conwell, and anyone with real purpose in life, nothing could stand in the way of his goal. Several years before this incident, Dr. Conwell was tremendously intrigued by a true story – with its ageless moral. The story was about a farmer who lived in Africa and through a visitor became tremendously excited about looking for diamonds. Diamonds were already discovered in abundance on the African continent and this farmer got so excited about the idea of millions of dollars worth of diamonds that he sold his farm to head out to the diamond line. He wandered all over the continent, as the years slipped by, constantly searching for diamonds, and wealth, which he - 32 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  33. 33. never found. Eventually he went completely broke and threwNOTES himself into a river and drowned. Meanwhile, the new owner of his farm picked up an unusual looking rock about the size of a country egg and put it on his mantle as a sort of curiosity. A visitor stopped by and in viewing the rock practically went into terminal convulsions. He told the new owner of the farm that the funny looking rock on his mantle was about the biggest diamond that had ever been found. The new owner of the farm said, “Heck, the whole farm is covered with them” – and sure enough it was. The farm turned out to be the Kimberley Diamond Mine...the richest the world has ever known. The original farmer was literally standing on ‘Acres of Diamonds’ until he sold his farm. Dr. Conwell learned from the story of the farmer and continued to teach its moral. Each of us is right in the middle of our own ‘Acre of Diamonds’, if only we would realise it and develop the ground we are standing on before charging off in search of greener pastures. Dr. Conwell told this story many times and attracted enormous audiences. He told the story long enough to raise the money to start the college for underprivileged deserving students. In fact, he raised nearly six million dollars and the university he founded, Temple University in Philadelphia, has at least ten degree-granting colleges and six other schools. When Doctor Russell H. Conwell talked about each of us being right on our own ‘Acre of Diamonds’, he meant it. This story does not get old...it will be true forever... Opportunity does not just come along – it is there all the time – we just have to see it. So how does this relate to you and your business? Any ideas? Well, by far and away the most lucrative part of your business is your customers… It’s your customers who are your own ‘Acres Of Diamonds’. - 33 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  34. 34. Yes, no surprise there, but tell us why 99% ofNOTES organisations don’t ever tap into the most lucrative part of their businesses? Once a new customer is acquired it’s your duty to enrich their life by giving them more value. More services. More products. More benefits. This is known as ‘Back-End Selling’. And when this is carried out successfully (it isn’t hard when you know how!) you’ll release so much cash for you, you’ll wonder what to do with it. Strategies such as up-selling and cross-selling, for example, will enable you to increase the profitability of each customer. As long as you look after your customers, they’ll keep buying from you – but you must keep selling to them – or someone else will! SIDE BAR COMMENT: We use a number of tactics, media pieces and strategies to make sure our clients tap into this extremely lucrative part of their businesses. Some of the main ones are…  Moments Of Truth  The Customer Penetration System  Referrals  Collecting customer details With the right application all these strategies and several others, work together to help you get much more share from your customers’ wallets. This is THE easiest way to grow any business. With our in-depth knowledge of understanding how to extract money out of customers, combined with how to apply the strategies, tactics and media pieces, this one area alone can give you unprecedented increases in sales and more importantly profits! - 34 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  35. 35. NOTES SUICIDE Strategy 10 Not Keeping In Touch With Customers And Prospects At Least Once A Month H ow often do you keep in touch with your customers and prospects? If your answer is less than once every month, then you’re missing out on an untapped goldmine. You must keep in touch with your clients or customers because…  You want to keep them for as long as possible (increase the length of time they remain clients or customers)  You want to get as much profit out of the customers as possible (by selling more products and services to them, and other complementary products and services from other suppliers – known as ‘endorsed’ or ‘host beneficiary’ relationships)  Marketing and sales is all about timing. Just because someone isn’t interested in buying the product or service today, it doesn’t mean they aren’t going to be interested tomorrow Let us explain this further… Let’s say that at the moment you’re really happy with your car. You’ve got no intention of changing it. Therefore every advert, every mailing or any contact you have with a car dealer or car manufacturer is wasted on you. Letters go in the bin without a second thought. You pick up your newspaper when the adverts come on TV. You simply aren’t interested. And nothing will prompt you at this stage to even consider changing your car. However, three months later your circumstances have changed. You need to do more travelling, and so you decide it’s time to look for a more suitable car. Now every mailing, advert, or communication to do with cars is instantly given attention by you. You’re ‘in the market’ for a new car, and you develop an insatiable appetite - 35 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  36. 36. to find out as much as you can about the cars which wouldNOTES suit you best. This happens every single day when people are buying products and services. If you don’t keep in touch regularly with your prospects you’ll never get ‘lucky’ with the timing (this is also known as ‘The Moving Parade’ – people move in and out of the market depending on changing circumstances). By keeping in contact once a month, the chances that you’ll hit the prospect at the right time are increased tenfold. You will get ‘LUCKY’! Do this one thing and your sales and profits will increase. Do NOT take this lightly. Keeping in touch (or ‘follow-up’ as we call it) is one of the simplest yet most rewarding marketing strategies you can apply to your business. SIDE BAR COMMENT: We have a proven method called the ‘Customer Penetration System’ which we use to ensure customers are regularly sold on products or services they don’t currently have. This ingenious system helps all our clients generate staggering increases in sales from their existing customers. Remember, the ‘easy’ money is generated by focusing on your customers – that’s why the ‘Acres Of Diamonds Principle’ is key to your success. We have a stable of literally dozens of proven letters and offers (such as ‘The Anniversary Letter’) which create instant sales with existing customers. Our Specialists are all real experts in this vital area and with their ‘box of tricks’ they ensure all our clients maximise the value of every customer. - 36 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  37. 37. NOTES SUICIDE Strategy 11 Not Charging The ‘Perfect Price’ For The Product Or Service W can say quite confidently that you are not charging the right price for your product or service. Pricing is the quickest and easiest way to grow any business with massively increased profits. This is how most people go about pricing their products or services… 1. Look at what their competitors charge (many people don’t even do this simple step!) 2. Decide ‘where’ they want their customers to view them – are they ‘low priced’, ‘middle of the road’ or ‘high end’? 3. Price their product or service based on the results of the two scenarios above This is what’s known as ‘price positioning’ and to a certain extent it does serve a purpose. What it means is the price is based on where people (prospects and customers) see their business positioned in the market, in relation to what their competitors charge. You might be saying to yourself, ‘Well that’s fine – isn’t that how I should be doing it?’ But that’s WRONG! Very wrong. This is a huge Suicide Strategy. People rarely buy on price. Sure there is a small percentage of people who buy the cheapest, but this is a minority. What people are buying is based on ‘VALUE’. And ‘price’ and ‘value’ are two very different things. Let us explain… As a rule, people automatically value a product or service more if it’s charged higher (unless it’s viewed as a commodity). The opposite is also true! This may surprise you, but think about this simple example… - 37 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  38. 38. NOTES You go to two different restaurants on two different nights… The first restaurant has a low-priced menu. Although you may think “Great, a cheap meal”, you will start having some doubts about the quality of the food and the service – even before you enter the restaurant. You keep these doubts hidden until you wait ten minutes to be greeted. You pass this off as “one of those things” but your doubts are starting to come to the fore. You are seated at your table. The table is still dirty from the previous diners. The waitress comes and takes down your order. She has to keep asking you to repeat what you wanted. You really are now worrying. Not surprisingly your order comes and it’s all wrong, and so on. The point here is, as soon as you saw the menu the doubts started, purely because the price was low. If you had a good experience (added value) then you’d be surprised and you’d definitely go back. The second point here is this – the restaurant should charge more if they serve you well and you have an enjoyable experience (the value is greater!). The second restaurant you go to is different – very different. The menu is very expensive. In fact you’ve never been to a restaurant with prices so high. However, you automatically think, “It must be good if they charge these prices.” As long as you are treated exceptionally well and your food is excellent, you would never quibble about the bill. The point is that as soon as you saw the prices you perceived the restaurant to be good even before you entered! If you had a bad experience you’d never go back and pay those prices (poor value). The point here is this – although the restaurant charged high prices, they demonstrated to you with their service and food why they charge high prices. In other words the VALUE THEY PROVIDED AT THE VERY LEAST MATCHED YOUR EXPECTATIONS. - 38 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  39. 39. It’s exactly the same with the prices you charge. If youNOTES charge too low, your prospects will automatically think you can’t be that good. On the other hand if you charge high prices you had better make sure your customers receive excellent value from them – because that’s what they’ll expect. Ultimately what we’re saying is that you cannot determine how much people are prepared to pay – you must let your customers decide what the perfect price is. You could be lucky and get the price right, but the odds are stacked against you. What you’re looking for is a price point that gives you the biggest PROFIT (not revenue!), over the lifetime of the relationship. The only way you can come to this ‘perfect price’ is by testing. In simple terms this means having one price for the first 10 customers, another price for the next 10 and another price for the next 10. You can then calculate which price generates the greatest profit. That doesn’t mean the highest price automatically wins. What you may find is that more people buy at a lower price, which means you make more money because you get more clients or customers. The Ultimate Principle On Value And Price What we hope you’ve gained from this so far is that as long as you provide excellent value – people will flock to your business and pay you handsomely for the privilege. Often many people make the mistake of thinking that price is the main issue in the mind of their prospects or clients or customers. But what you’re missing is that if everyone is viewed by the prospect as ‘the same’ – i.e. companies don’t take the time or effort to differentiate from others and add considerable value – the only way they can choose is based on price. But when you add so much value to your business – substantially more than your competitors, you leave the prospect with little choice. - 39 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  40. 40. NOTES And often they’ll pay you much more than anyone else. Why? Because you’ve added so much value! Also when a customer decides to leave you and turns to one of your competitors, often they’ll say, ‘Your price/fees are too high.’ What they’re really saying is this… ‘Your products or services are not worth what you charge. I’m just not getting value for money!’ There’s a big difference! If you add so much value to what you offer, people will be prepared to pay much more for your product or service. Or equally as important, you’ll be able to charge the same price, but because you’ve added so much value, more people will choose you rather than the competition because they’re getting so much more value. Does that make sense? Here’s a great example… One of our clients was a professional wedding and portrait photographer (he’s now retired and living in Dubai). When he first met us he was charging between £350 and £450 for a wedding. After just 12 months he charged a minimum of £2,995 right up to £4,995 for his weddings. All we did was add value to his services. Build extra value and you’ll be surprised how high your ‘perfect price’ climbs! SIDE BAR COMMENT: We would say the expertise we have in terms of charging the right price and building real value in any business is unparalleled. Adding value to our clients’ business to make it irresistible to customers, is in many ways the culmination of many things we do for them. - 40 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  41. 41. NOTES We have proven solutions for highly competitive markets, price-sensitive markets, premium markets, and of course commodity-type markets. Your business, no doubt, fits into one of these ‘boxes’, so to speak. And if it does, we can make a huge difference to your sales and profits, even if all we do is to focus on adding value and making sure you’re charging the right price. - 41 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  42. 42. NOTES SUICIDE Strategy 12 Not Testing Your Marketing Strategies Or Using The ‘Minimum Risk-Maximum Return Formula’ e have yet to come across a business that fully W tests their marketing campaigns. Here’s what we mean… Let’s say you decided to send a sales letter to your target or niche market. You’ve bought a list that has 10,000 names on it. You’re certain that out of 10,000 you’re going to get many orders, so even though sending 10,000 letters costs you well over £5,000 (postage £2,400, the list £1,250, fulfilment (printing and packing) £2,000), you have to do very badly to NOT make a profit. You then sit back and wait for your windfall. Unfortunately the response was just 0.1%. You received just 10 orders at £500 each, and each order has a 50% gross profit. That means based on this first order you made a loss of £2,500. Now depending on the amount of profit you can extract from these new customers over the lifetime of their relationship with you (Lifetime Customer Value – Suicide Strategy 17) this could be either awful or very good for you. However, we’ve seen several businesses go bust using this approach, because they were so sure their product or service would be sold by the bucket load, only to find that people simply weren’t interested – or more likely the marketing strategy used just wasn’t effective. This approach is very risky and will never yield the sort of results you can expect when you start TESTING. This is where it gets interesting… When you test, you automatically apply what we call ‘The Minimum Risk-Maximum Return Formula’. This means you limit your financial exposure whilst maximising the return (isn’t that what we all want?). Using the same example above, here’s how it works… Instead of mailing everyone on the list with one sales letter, you mail just 3,000 people. And instead of using one - 42 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  43. 43. sales letter you send one version to 1,000 people (selectedNOTES randomly), another version to the next 1,000 people, and a third version to the final 1,000 people. You’ve now got three tests running against each other. The key is this… Since you know that a headline change can increase response by 500% or more (see Suicide Strategy 19), you keep the same letter except the headline is different on each version. Here are the results… Headline 1: 1,000 sent. Response 0.2% (2 sales at £500) Headline 2: 1,000 sent. Response 1% (10 sales at £500) Headline 3: 1,000 sent. Response 0.6% (6 sales at £500) Now that looks better. Headline 2 returned 10 sales. This headline and letter now become your ‘control’ (the best performing one) so you mail the last 7,000 names on the list and now here’s what you get… Headline 2: 7,000 sent. Response 1% (70 sales at £500) From the same list of 10,000, your testing enables you to generate 88 sales (2+10+6+70) generating a revenue of £44,000 and a profit of £22,000 against a loss of £2,500 (without testing). Also let’s say that even after testing (to the initial 3,000), your figures looked awful – you made a loss. At least you can cut your losses right now. You’ll have saved 70% of the costs you would have spent if you’d mailed 10,000 people in the first place! That’s what testing can do for you – it maximises your return and minimises your losses! Here’s a true-life example (these headlines were ones we tested for the direct response ad you saw previously)… Headline 1: Revolutionary Creasing Device Totally Eliminates Fibre-Cracking, And Takes Just Minutes To Set Up – Even By Inexperienced Operators - 43 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  44. 44. NOTES Headline 2: They Laughed When I Put The Tri- Creaser On My Folding Machine, But When They Saw The Results… Headline 3: The END Of Cracking Problems Which headline do you think pulled an extra 350%, and has been used in ads for over six years to generate millions of pounds? (The answer is on the ad on page 23.) And here’s another simple example showing the virtues of testing… On the next page are two small ads for a restaurant. Which ad do you think worked best? - 44 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  45. 45. Ad - 1NOTES Ad - 2 - 45 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  46. 46. Any ideas which ad secured the most bookings?NOTES Ad 1 generated 186% more bookings. That’s nearly double. You never know unless you test. Just think if the restaurant hadn’t tested, and just stuck with ad 2, how much money they’d be losing each week! What this shows is that if you don’t test, you’ll never be able to get the best possible return on your marketing. Test your lists (target market and different media/readership), headlines, and offers – these three elements will give the best returns. Plus by testing, you adhere to our ‘Minimum Risk- Maximum Return Formula’. Before you invest any significant amounts of time, money or effort in any marketing or promotional drive, you must test the effectiveness of your campaign. That way, if it doesn’t work the way you thought it would or should, you haven’t wasted unnecessary resources. Plus it gives you the opportunity to maximise your returns. SIDE BAR COMMENT: Everything we do for our clients can be measured, tested and improved. We NEVER use a strategy that can’t be measured in terms of results. And if it can be measured, it means we can test alternatives to elevate the success of that particular media piece. The marketing we apply really is a ‘science’. Yes, some of it is creative, but our Specialists follow a strict regime of applying the rules and the techniques that have been proven, not just in our lifetime, but over a hundred years. Believe us, it really is a myth that marketing is about being ‘creative’. Ad agencies make their living by convincing clients that being more creative is better. They convince their clients that if they’re running an ad campaign, they have to keep running the ads for months to build brand awareness. They convince their clients that the sales will come once the ‘brand’ becomes familiar. - 46 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  47. 47. NOTES Yes, this can happen – if you don’t run out of money. But wouldn’t you rather use proven marketing strategies, tactics and media pieces that you can measure within hours, days or (worst case) weeks? Wouldn’t you like to generate sales from the first ad you placed? And if that’s the case, using strategies, tactics and media pieces that can be measured and tested has to be your only choice. - 47 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  48. 48. NOTES SUICIDE Strategy 13 Not Checking Communications For Spelling Mistakes And Other Simple Errors e have got three files full of letters/adverts/fliers W etc that haven’t been checked properly. They’re riddled with mistakes. Basic mistakes that could and should have been avoided. (We’ve included a couple of great examples below.) Remember this… Every marketing activity you activate has an upfront cost. Some activities such as advertising and direct mail can cost thousands – hard-earned money that must not be wasted, so don’t make simple and avoidable mistakes! Mistakes in any form can be very costly. They make you look sloppy. They make you look amateur. They make you look like you don’t care. Are these the feelings you want to portray? When you’re writing the material for your marketing, it’s often very hard to see the mistakes because you’re too close to the project. That’s why you must get someone else – even your partner or someone else in the business – to check your work before it gets released. Irrespective of the tight deadlines you may have – you must never, ever launch a marketing campaign (no matter how small) until you’ve checked and double-checked for mistakes. Here are a few examples – can you spot the mistakes? - 48 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  49. 49. NOTES - 49 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  50. 50. NOTES SIDE BAR COMMENT: This is just basic ‘housekeeping’. Just make sure you proofread everything. - 50 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  51. 51. NOTES SUICIDE Strategy 14 Sending Brochures/Catalogues Out Without A Sales Letter his is one of the ‘dreaded sins’. You must NEVER T send out a brochure or catalogue, or allow your staff to send out a brochure or catalogue, without enclosing a sales letter. If the reason you send a brochure to a prospect is to secure a meeting, for example, then the sales letter must ‘sell’ the meeting, and explain why the prospect should give up time to meet with you. This is absolutely critical. Sending a covering letter like the one below will NEVER give you the sort of result you can achieve… And we could have shown you hundreds of similar letters! If the purpose of the brochure/catalogue is to secure an order, your sales letter must push for the order. Sending a brochure out without a sales letter is like throwing money down the drain. And if you think a one- or two-line covering letter will do the trick – think again. - 51 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  52. 52. There’s a well-known saying we use relating to thisNOTES Suicide Strategy… ‘Your brochure tells, your letter sells’ Brochures/catalogues cost hundreds even thousands of pounds to produce. Most are written so badly you never ever cover your costs, but a good sales letter will often ‘save’ the brochure/catalogue and generate a good profit for you. And just in case you were wondering what you should do if you can’t afford a brochure/catalogue… Send a sales letter instead! SIDE BAR COMMENT: If you’re in an industry where sending brochures or catalogues is important, you’re really missing a trick if you don’t put a sales letter and some kind of ‘order form’ with them. This one simple change will transform your sales. Once again you need to know what to write and how to say it, but when you get this right, anything is possible. Our Specialists have dozens of proven templates to choose from, depending on your objectives and the type of industry you’re in. They all come with our truly amazing ‘Up-sell’ and ‘Cross-sell’ offers, adding even more value to the sale! - 52 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  53. 53. NOTES SUICIDE Strategy 15 Not Having A Referral Process Or System f your product or service is half-decent then you’ll I automatically receive referrals or recommendations from your customers. The better you are – the more ‘unsolicited’ referrals you’ll get. That’s what good business is all about. However, if you actively go after referrals and you put in place a referral system for them, you’ll generate many, many more referrals. This can be as easy as asking your customers for the name of someone who, like them, would be interested in receiving some information about your product or service. You’ll be surprised at the increase in sales, just from referrals, if you put in place a systemised approach to get referrals rather than waiting for them to happen. And don’t forget, referral business is the best type of business. You rarely compete on prices or fees and these people tend to be people you enjoy working with! Better still… you’ll find that you convert a much higher percentage of referrals into customers. If you got just one referral from 50% of your customers every year, what sort of difference would that make to your business? HUGE! Here’s a proven example of a very successful referral program we created for one of our ‘Client Partners’ – a portrait photographer. Here’s how it works… Once the customer has chosen their photographs, one extra photograph is printed (the customer is not aware of this). Then when the customer returns to collect their photographs, it is explained to them that if they give the names and addresses of at least two people, they’ll be gifted a free photograph (worth £45 or more). The customer is then given the following referral sheet (see next page). - 53 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  54. 54. NOTES Introduce A Friend... For Your FREE 8 x 6 Photograph Worth £45.00 We do very little advertising. This money we feel is better spent to ensure all our customers have the best possible experience when they come for their portrait. Money that could be allocated to advertising is invested back into the studio. As a result almost 70% of our business comes from happy customers just like you who recommend us to their friends and family. To receive your FREE photograph simply give us the name and address of at least one friend or family member who may be interested in having a portrait taken. The person or people you recommend will benefit too. We’ll give them 60% off our sitting fee. All they pay is £24, which includes a complimentary 8x6 photo. We can’t be fairer than that! Customer Name: Address: Please write the name(s) and address(es) below: 1) Name: Address: 2) Name: Address: 3) Name: Address: Thank You <Name of Studio, address and contact details> - 54 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd
  55. 55. Here’s the real clincher. Once the names and addressesNOTES of the referred people are given, the following letter is printed and sent to them… Good Morning Mrs Jones Good news! Dave Brown has recommended you to us. As a result he has secured you the following gift: ***Save £71.00*** If you book a portrait sitting with us before (30 days from date of letter), well give you 60% off our normal sitting fee of £60 and include a complimentary 8x6 photograph worth £35.00. You just pay £24 for your sitting, saving a total of £71.00 Your portrait can be you on your own, with a partner, or with your family. This offer is only available when a person recommends a friend, family member, or business associate to us. No one else can get a saving of £36 off our sitting fee. Why should you have your portrait taken at Stu Williamson Photography If you’re asking yourself this question I’d like to point out why there really is no other choice…  Getting high quality photos that last a lifetime comes from working with the best. I currently hold more Kodak Gold Awards than anyone in the UK - 23 in fact. A Gold Award is given to a photographer for “excellence in photography”. The awards are only held once a year!  I have won the ultimate prize – Master Photographer of the Year. Getting this award of Master Photographer is the pinnacle of achievement for any photographer. My winning portrait was selected ahead of over 3,000 other photographs taken by the UK’s most accomplished photographers.  My book entitled “Stu Williamson’s Concept to Print” has sold thousands of copies worldwide.  I have given lectures on photography for the likes of Ilford, Kodak, and Fuji. Please turn over… - 55 - 19 Business Suicide Strategies Copyright  Go4 Results Ltd

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