Exponential Business Growth
      Instructor: Jim Macdonald
        Direct Connect Business Solutions
        JX2 Technolo...
Introduction
 The key is in your Marketing Effort
  – Initial Sales
  – Fostering Customer Relationships
  – Residual Sale...
Types of Businesses
Offer great service and know it, but don’t know
how to tell it.
Offer great service and don’t know it ...
Ways to Grow Your Business
  How Many Are There?
 –   Hundreds?
 –   Thousands?
  There Are Only THREE ways!
      1. Incr...
Questions…
 Where is the origin of my business, or where COULD my
 business come from?
 Who stands to benefit more than yo...
What is Marketing?
1.   Continually educating clients (or prospects)
     throughout their relationship with your
     com...
Basic Marketing Concepts:
1.   People want you to lead them. They silently want to
     know more about your business' pro...
Marketing Mistakes:
1.    Not testing, or not allowing the dynamics of testing to work.
2.    Lacking a good Unique Sellin...
Marketing Basics
(Who, What, When, Where, Why, and How)
1.   Who will buy your product?
     (Your target market segment)
...
The USP(Unique Selling Proposition)
1.   First identify the advantage or result the
     client wants.
2.   Write down on ...
Ways to Grow Your Business
  How Many Are There?
 –   Hundreds?
 –   Thousands?
  There Are Only THREE ways!
      1. Incr...
Multiple Income Sources
 The Upside-Down Pyramid
 Building a Solid Structure
Business Growth Exercise
  Calculate number of clients: 1,000
  How much do they spend on each
  transaction? $100
  How m...
Marginal Net Worth of A Client
To calculate the lifetime value of your customers, do the following:
1) Compute precisely w...
Looking At The “Back End”
 You are in this for the LONG RUN
 Reselling
 Up-Selling
 Cross-Selling
Risk Reversal
 Move It To The Top!
 Take Away The Risk
Adopt & Adapt
 Keep Your Eyes Peeled!
 Creative Emulation
Talk to Clients – Teach and Learn
From Webster’s Dictionary:
  Customer –
  One who purchases a commodity or service
  Cli...
One to One Marketing
Requirements for creating a Learning Relationship:
1. Customization: The enterprise must be able to
 ...
Preemptive Advantage
 Put Your Clients “In The Know”
Residual Value
 Up Selling
 Add Ons
 Step Selling
Ask Yourself This…
1.    Where is the origin or my business, or where COULD my
      business come from?
2.    Who stands ...
Competition and S.W.O.T.
 Competitive Analysis
 Self Analysis
 Strengths
 Weaknesses
 Opportunities
 Threats
Positioning Statement
 Who: Who are you?
 What: What business are you in?
 For Whom: What people do you serve?
 What Need:...
Selling A Service
 Don’t overestimate yourself
 Think about the “butterfly effect”
 Ask customer how you can improve
 Ther...
Selling A Service (continued)
 PRICING – How do you know?
 BRANDING
 COMMUNICATIONS
 PRESS
 Sell Hope!
 Say Thank You!
 St...
Formalized Referral System
 Incentives
 Remember the “Net Worth”
Teaming Up…
 Partnerships
 Joint Ventures
 Endorsements
Branding
What is a Brand?
Brand name          Brand acceptance
Brand mark          Brand preference
Brand loyalty       Br...
Being First
1.   You can be the first to offer a product or service in your
     community.
2.   You can be the first to t...
Being First: An Exercise…
 Take a general description of what you do,
 such as sell insurance, consult, or give
 seminars....
Press Releases
 “Sell the Sizzle”
 Headlines and Deadlines
 Follow Ups
A.I.D.A. Commands a Response
The “AIDA” principle of advertising
 Attention
 Interest
 Desire
 Action
Ad Writing – Direct Response
  Say something that gets your reader's attention.
  Tell the reader why he/she should be int...
Testing
 Test Everything
 Spend Your Money Wisely
Winning A Sales Pitch
Say or do something that gets the prospects attention
Tell them why they should be interested in wha...
Contact Strategy
 Have One…
 Work Your Lists
 Follow Up
Getting Old Clients Back
 Out of sight, out of mind…
 Stay present!
Advertising (General Concepts)
 Personal Networking
 TV
 Radio
 Newspaper – Magazines
 Low-cost ads for Charitable Organiz...
Web Stuff
 Web Site
 E-mail
 Newsgroups
 Spiral Marketing…
 Viral Marketing…
Bartering
 Straight Bartering
 Triangulation Bartering
Putting It All Together
 Integration – The Key To Success
 Timing Is Everything
Writing Marketing Plan
1.   Write four or five paragraphs that summarize your
     business, including its philosophy, str...
Writing Marketing Plan (continued)
5.   For each goal you've outlined, create a strategy,
     complete with your key mess...
Exercise #1 To Help Your Business

Write down everything you do for two days.
  How much time was spent working to
  achie...
Exercise #2 To Help Your Business
1.   Write down the names of your 10 best customers
2.   Contact them by phone
3.   Then...
Great Books!
 “Selling the Invisible”
  by Harry Beckwith
 “What Clients Love”
  by Harry Beckwith
 “The End of Marketing ...
Great Web Sites!
 www.demographics.com - American Demographics Magazine
 www.SBA.gov - Small Business Administration
 www....
Thank You And Good Luck!!
   Use Your Head…
   Follow Your Heart…
   You Won’t Need Luck At All!
Upcoming SlideShare
Loading in …5
×

Exponential Business Growth Exponential Business Growth

1,617 views

Published on

0 Comments
3 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
1,617
On SlideShare
0
From Embeds
0
Number of Embeds
5
Actions
Shares
0
Downloads
93
Comments
0
Likes
3
Embeds 0
No embeds

No notes for slide

Exponential Business Growth Exponential Business Growth

  1. 1. Exponential Business Growth Instructor: Jim Macdonald Direct Connect Business Solutions JX2 Technologies
  2. 2. Introduction The key is in your Marketing Effort – Initial Sales – Fostering Customer Relationships – Residual Sales Learn how to grow your business. Period. – It requires planning – It requires diligence and work – It requires follow-up
  3. 3. Types of Businesses Offer great service and know it, but don’t know how to tell it. Offer great service and don’t know it or tell it. Don’t offer great service… Won’t be around after initial offering. Offer great service, know it , and tell it… VERY RARE!
  4. 4. Ways to Grow Your Business How Many Are There? – Hundreds? – Thousands? There Are Only THREE ways! 1. Increase number of clients 2. Increase average sale per client 3. Increase number of times client returns to buy again
  5. 5. Questions… Where is the origin of my business, or where COULD my business come from? Who stands to benefit more than you by your being more successful? Customer, supplier… Who’s in a position that already has my customers and has spent money and action in their goodwill and would be in a position to recommend, endorse or make them available to me with a positive pre-disposition? What ways can they benefit from relationships I have with my customers? What ways can I better reduce the risk of the transaction for my customer – thereby lowering the resistance barrier to take advantage of my product/service for the first time?
  6. 6. What is Marketing? 1. Continually educating clients (or prospects) throughout their relationship with your company on the advantages and benefits your company, and no one else, brings them. 2. Creating a process for increasing a client’s demand or desire for your product or service. 3. Developing a strategy that convinces clients to complete an action. 4. Giving clients a reason to appreciate you and discriminate on your behalf.
  7. 7. Basic Marketing Concepts: 1. People want you to lead them. They silently want to know more about your business' product or service. 2. You must tell people what specific action to take. 3. Analyzing your marketing results is the ultimate financial leverage. 4. Advertising is nothing more than salesmanship in a particular medium. 5. You must educate people so they appreciate what you've done for them - or will do for them. 6. Bonuses and special offers can make a significant contribution to your overall sales proposition.
  8. 8. Marketing Mistakes: 1. Not testing, or not allowing the dynamics of testing to work. 2. Lacking a good Unique Selling Proposition (USP) as an integral part of all of your company’s marketing and your persona. 3. Not having a "back-end" for residual sales. 4. Failing to determine and address your customers' and prospects' needs 5. Not recognizing, that you have to both sell and educate your way out of a problem. Don’t just cut the price 6. Failing to make doing business with your company easy, appealing, desirable and even fun 7. Failing to tell customers "why." 8. Not sticking with effective marketing campaigns to realize the full cumulative effect. 9. Not focusing on the intended customer in your company’s advertising. 10. Running institutional advertising instead of direct response advertising.
  9. 9. Marketing Basics (Who, What, When, Where, Why, and How) 1. Who will buy your product? (Your target market segment) 2. What are you selling? (The product and the benefits) 3. When do you want to achieve goals? (Time frame-adjustable) 4. Where will you sell? (Best means to reach the target) 5. Why would someone want to buy it? (Are you better, cheaper, etc) 6. How will you reach the right people with the product? (Strategy)
  10. 10. The USP(Unique Selling Proposition) 1. First identify the advantage or result the client wants. 2. Write down on a piece of paper the following… “Most businesses in my industry do __________. But what we do is________.”
  11. 11. Ways to Grow Your Business How Many Are There? – Hundreds? – Thousands? There Are Only THREE ways! 1. Increase number of clients 2. Increase average sale per client 3. Increase number of times client returns to buy again
  12. 12. Multiple Income Sources The Upside-Down Pyramid Building a Solid Structure
  13. 13. Business Growth Exercise Calculate number of clients: 1,000 How much do they spend on each transaction? $100 How many transactions per year? 2 Total Income: $200,000.00 ADD 10% to each segment = $266,200.00 ADD 25% to each segment = $390,625.00
  14. 14. Marginal Net Worth of A Client To calculate the lifetime value of your customers, do the following: 1) Compute precisely what a customer costs you to obtain, by dividing your current marketing budget by the number of customers it is now producing. 2) Then compute the cost of a prospect the same way. 3) Then compute how many sales you get for so many prospects (the percentage of prospects who become your customers) and the cost of converting those prospects into customers. 4) Next, average the cost to generate an outright sale, and the cost to generate, then covert, a prospect. This is your average cost for producing a customer immediately. 5) Then subtract the amount determined above from your customer's average initial purchase. This will give you your profit on their first purchase. 6) Then compute your average repeat sale and your average profit on that sale. 7) Then compute how much additional profit a customer could be worth to you over their lifetime of patronage by determining how many times most customers come back, and multiply that by the average profit per repeat sale. Be conservative.
  15. 15. Looking At The “Back End” You are in this for the LONG RUN Reselling Up-Selling Cross-Selling
  16. 16. Risk Reversal Move It To The Top! Take Away The Risk
  17. 17. Adopt & Adapt Keep Your Eyes Peeled! Creative Emulation
  18. 18. Talk to Clients – Teach and Learn From Webster’s Dictionary: Customer – One who purchases a commodity or service Client – One who is under the protection of another
  19. 19. One to One Marketing Requirements for creating a Learning Relationship: 1. Customization: The enterprise must be able to customize its product or service. 2. Design interface: The customer must be able to specify his needs both effectively and cost- efficiently (as with a PC interface) 3. Memory: The firm must maintain a memory of these specifications.
  20. 20. Preemptive Advantage Put Your Clients “In The Know”
  21. 21. Residual Value Up Selling Add Ons Step Selling
  22. 22. Ask Yourself This… 1. Where is the origin or my business, or where COULD my business come from? 2. Who stands to benefit more than you by your being more successful? Customer, supplier… 3. Who’s in a position that already has my customers and has spent enormous amounts of money and action in their goodwill and would be in a position to recommend, endorse or make them available to me with a positive pre- disposition? What ways can they benefit from relationships I have with my customers? 4. What ways can I better reduce the risk of the transaction for my customer – thereby lowering the resistance barrier to take advantage of my product/service for the first time?
  23. 23. Competition and S.W.O.T. Competitive Analysis Self Analysis Strengths Weaknesses Opportunities Threats
  24. 24. Positioning Statement Who: Who are you? What: What business are you in? For Whom: What people do you serve? What Need: What are the special needs of the people you serve? Against whom: With whom are you competing? What’s different: What makes you different from those competitors? So: What’s the benefit? What unique benefit does a client derive from your service?
  25. 25. Selling A Service Don’t overestimate yourself Think about the “butterfly effect” Ask customer how you can improve There is no Marketing Department! – Improve points of customer contact Your prospects could be competitors Service is “Chemistry”, “Feelings” Stand for ONE thing
  26. 26. Selling A Service (continued) PRICING – How do you know? BRANDING COMMUNICATIONS PRESS Sell Hope! Say Thank You! Stay Present!
  27. 27. Formalized Referral System Incentives Remember the “Net Worth”
  28. 28. Teaming Up… Partnerships Joint Ventures Endorsements
  29. 29. Branding What is a Brand? Brand name Brand acceptance Brand mark Brand preference Brand loyalty Brand insistence Brand recognition Brand rejection Brand equity
  30. 30. Being First 1. You can be the first to offer a product or service in your community. 2. You can be the first to tailor a general-use item for a specific audience. 3. You can be the first to market a product at a new price point. 4. You can be the first to offer an alternative to an existing product or service. 5. You can be the first to tap into a soon-to-be major market that larger companies have overlooked.
  31. 31. Being First: An Exercise… Take a general description of what you do, such as sell insurance, consult, or give seminars. Add a qualifier that exactly describes your major product, service, or competitive advantage… You've instantly repositioned yourself in a new category.
  32. 32. Press Releases “Sell the Sizzle” Headlines and Deadlines Follow Ups
  33. 33. A.I.D.A. Commands a Response The “AIDA” principle of advertising Attention Interest Desire Action
  34. 34. Ad Writing – Direct Response Say something that gets your reader's attention. Tell the reader why he/she should be interested. Tell the reader why he/she should believe that what you're saying is true, Prove it's true. Itemize and describe all the benefits of your product or service. Tell the reader how to order. Tell the reader to order now.
  35. 35. Testing Test Everything Spend Your Money Wisely
  36. 36. Winning A Sales Pitch Say or do something that gets the prospects attention Tell them why they should be interested in what you have to say Tell them why they should believe what you say is true Prove it’s true List the benefits of your product or service Tell them how to order Ask for their order
  37. 37. Contact Strategy Have One… Work Your Lists Follow Up
  38. 38. Getting Old Clients Back Out of sight, out of mind… Stay present!
  39. 39. Advertising (General Concepts) Personal Networking TV Radio Newspaper – Magazines Low-cost ads for Charitable Organizations Press Releases Mailings/Direct Mail Internet – Web site, e-mail, newsgroups, spiral & viral marketing Newsletters FAX Blasts Inserts - Card decks, etc. Point of purchase displays Print – Brochures, Business Cards, etc. On-hold Customer Testimonials Sponsorships
  40. 40. Web Stuff Web Site E-mail Newsgroups Spiral Marketing… Viral Marketing…
  41. 41. Bartering Straight Bartering Triangulation Bartering
  42. 42. Putting It All Together Integration – The Key To Success Timing Is Everything
  43. 43. Writing Marketing Plan 1. Write four or five paragraphs that summarize your business, including its philosophy, strengths and weaknesses. 2. Outline each of your goals, and be specific. Be optimistic, but stay grounded. Prioritize goals if there are many. 3. Define your niche markets as clearly and specifically as possible. Rank them in priority order. 4. Research your target to determine the best way to reach them. Write a detailed profile of your audience segments. Include all the demographic and psychographic information you've gathered.
  44. 44. Writing Marketing Plan (continued) 5. For each goal you've outlined, create a strategy, complete with your key messages and steps that will help you accomplish the goal. 6. Write out each strategy, and beneath it, list key messages and tactics. 7. Allot a segment of time and a deadline to each. 8. What you now hold in your hands is probably the most effective "to do" list you'll ever write.
  45. 45. Exercise #1 To Help Your Business Write down everything you do for two days. How much time was spent working to achieve your goal? How much was wasted? (on to the last exercise…)
  46. 46. Exercise #2 To Help Your Business 1. Write down the names of your 10 best customers 2. Contact them by phone 3. Then send a follow-up letter 4. 1-2 weeks later send them a note offering… A one-time preferential price To buy in advance of the crowd To buy a limited supply item To buy in advance of a price increase A combination of the above
  47. 47. Great Books! “Selling the Invisible” by Harry Beckwith “What Clients Love” by Harry Beckwith “The End of Marketing as We Know It” by Sergio Zyman “Power Promoting” by Jeffrey Sussman “How To Market A Product For Under $500.00” by Jeffrey Dobkin “Who Moved My Cheese?” by Spencer Johnson “Guerilla Marketing” Series of books by Jay Levinson and Company “Getting Everything You Can Out Of All You’ve Got” by Jay Abraham
  48. 48. Great Web Sites! www.demographics.com - American Demographics Magazine www.SBA.gov - Small Business Administration www.wilsonweb.com - Dr. Ralph Wilson’s Web Marketing Site www.gmarketing.com - Guerilla Marketing Web Site www.cyberatlas.com - Interesting Marketing Advice www.marketingtips.com - from Corey Rudl, a controversial, yet successful direct marketer www.intuit.com - The makers of QuickBooks offer business advice www.netbusiness.netscape.com - Netscape’s tips for businesses www.abraham.com - Jay Abraham web site www.dobkin.com - Jeffrey Dobkin web site
  49. 49. Thank You And Good Luck!! Use Your Head… Follow Your Heart… You Won’t Need Luck At All!

×