Skip to main content
Select Language:

Category Archives: business

Older posts
Newer posts

The Real Problem is…

Posted on by 43
man with hands on face

Last month we explored how sometimes we just need to be able to identify what we’re frustrated at in order to begin addressing it. When there are consistent frustrations in a business, we can usually address them by putting systems in place that minimize inconsistencies and produce more of the results we’re really looking for.

It’s another one of those no-duh, no brainers that may not appear like much until those frustrations build to the point of blinding us from the most direct solutions.

But we now want to articulate the impact of that frustration on our business condition. How does this thing impact you? What results aren’t you getting? What’s happening? What’s not happening that you want to happen, or don’t want to happen?

We don’t want to be working on anything that doesn’t really matter. If you’re frustrated because your partner starts their day later than you do, does it really matter as long as the work is getting done? But if that lateness means missing calls from earlier time zones, that could have an impact, yes?

So it’s one thing to name a frustration, and it’s another to know exactly what that frustration translates into toward your bottom line. You’ve got to probe, measure, and quantify that frustration. You might find at the end of the day, you’re really getting bothered over something trivial—or you could find that your frustrations are indeed warranted.

If you have a complex system you’re looking at, this process can take months. So how about a more simple formula?

“The real problem in my business is the absence …” It could be a system that will cost effectively generate leads rather than be a costly guessing game every time. Or a system that staff can follow consistently rather than doing it their own way each time, producing mediocre or inconsistent results. Or it could be the absence of a system for strategic planning rather than primarily responding to a competitor’s moves.

It’s just a generic way of focusing. You’re not actually formulating a system yet. What you’ll find is some of these things that you describe can actually be purchased as software programs, or you can easily hire consultants who do them much better than you would. But once you’ve figured out what the problem actually is, reformulating starts to become easier.

“The real problem in my business is the absence of a system that will …” Fill in the blank with that generic system solution and then write down your original frustrating condition.

You should start to feel a shift in your energy in terms of some of these things that are frustrating you. The question that you simply have to ask now is: Is this frustration worth fixing? Is this frustration that you named—if it’s not stemming from within you—something you have to address quickly or is it lower on the priority scale?

Do you really want to remedy this frustrating condition or would you rather just live with it? That’s the question that you have to answer.

What do you think? What are some frustrating aspects of running a business that you’ve encountered, and how did you remedy them? Did you find value in naming and understanding the impact of those frustrations? Were some of them really nothing? Make sure to leave me a comment and let me know your experiences with frustrations in business (and how you handled them) – or even how you handled frustration and overcame it in other parts of your life!

For Your Freedom,

 harvsignature

The Money is in the Message

Posted on by 67
verizon guy

“Can you hear me now? Good!”

I’m a marketing fanatic as many of you know, so I try to appreciate great ideas communicated brilliantly when I see it. Verizon’s cell phone television ad campaign articulated and took advantage of a simple but powerful truth— with other cell phone carriers, lots of people were experiencing the frustration of dropped calls in the middle of important conversations.

You’ll never have to worry about that with us, Verizon basically said, with commercial after commercial of the same Verizon field test guy in the most remote areas of the country still being heard, still good.

The number of Verizon subscribers jumped from 32.2 million at the start of that campaign in January 2002 to 43.8 million in two years. They also poured billions into their network infrastructure; continually investing in what they said they would deliver on—fewer dropped calls anywhere.

I’m not a Verizon spokesman or advocate, I just use the example to illustrate the power of a simple message communicated to the tune of more customers, and more money. The money is in the message. Marketing and promotion is how you get customers to your business, and customers are how you get more money.

This is exactly the problem most businesses have, though—communicating clearly and concisely what they do and how it benefits their potential customers. It’s one thing for you to know what you do, who you help and how they benefit, but it’s quite another thing for other people to know the same thing.

One of the most essential skills you can have is the ability to articulate what you do in a powerful and concise way. Clarity leads to power, for both you and your customers. It empowers them to understand exactly what you can do for them and why they should buy from you. The reason most people fail in business is that they have a very poor message.

Your message has to cut through like a knife to the core. You have to be very selective and specific about what you say. You might have lots of different things to offer, but you can’t put them all in a 30-second sound bite. Don’t try to be all things to all people. Keep it simple. Less is more. You want to leave people saying, “That sounds interesting.”

What’s your “thumbprint”? What’s unique about you? Why should someone do business with you versus the person next door?

If you don’t have this, you are chopping your income in half. As soon as you have a strong sound bite, and deliver on your promise, you can double your income.

The only way you’ll ever know what works is to try something out and see if it works. You always test first, and then you sprint out of the gate when you have a winning proposition.

How about you? Have you experienced a difference in success when you changed your persona—your “calling card” so to speak—as you sold yourself or a product? What was it that specifically made a difference? Was it how you perceived yourself or how others perceived you? Let us know in the comments below!

To Your Success,

harvsignature

Customers for Life, Set for Life

Posted on by 27

A lifetime customer value is absolutely critical to your success online.

Here’s a straight fact. A study conducted by Bain & Company last year showed that repeat e-commerce buyers spend more money, refer more customers, and buy a broader range of products than one and done shoppers. Other studies have shown figures as high as 34% for average repeat shoppers buying similar products.

That means once you get them in by fulfilling the want that wasn’t previously available in that market you can start offering your competitor’s products. Your customers are practically guaranteed to buy something again as long as it’s similar and in the same kind of industry to what they’ve bought already.

You’ve built credibility and rapport. They believe in you. They’ve given you their credit card number.. Hopefully you’ve done your job and they’ve had a good experience with you. You haven’t ripped them off. You haven’t lied to them or failed to deliver on a promise.

You took care of them. You gave them good customer service. You gave them great value for the dollars they invested in you. Are they going to buy from you again? Absolutely! They qualified themselves to do business with you. It’s easy to sell them again. It shows you the power of backend marketing.

When you treat every prospect visiting your webpage as a potential lifetime customer, you don’t care what they’re buying from you today. You should even be willing to lose a little money on your first sale, because it’s all about the backend. You make all the money on the repeat sale, and it costs nothing to mail to them for the rest of their www.ncmh.info/ativan-lorazepam/ lives. So if you even lose money on the front end, you’re going to make that money back by selling them again and again and again.

Don’t worry about the $20 you’re making today. Think about that customer that may be worth $2,000 over the next two years to you.

Now think about the ways you can more easily develop multiple streams of income from the internet. You find niche; passionate small markets that only take a few weeks to monopolize, and you build a website and a business that has small profits, but combined with others equal large profits.

The process moves faster because you can test your efforts quicker and easier. You know exactly if things are going to be successful even before you launch them because you can test smaller segments in 24 hours. You send emails to 1,000 people, and you know exactly how much money it’s going to make you based on that response. If it responds well, you send the email to the whole list. That’s a launch.

Before, you used to advertise in a magazine and to get results back in 30, 60 days minimum! Now, you can get results in 24 hours.

There’s no magic wand here. There’s no genius to it. This is easy, no brainer type of stuff. It’s so easy you can walk away after you’ve set things up and earn an incredible month’s income very, very quickly.

The internet’s open 24 hours a day, seven days a week. You know this already — are you taking full advantage of it?

 

Leaning on the Back-End

Posted on by 24

When people are at your website, you’ve gotten through the creation of interest, credibility, and rapport. They believe in you. They’re ready to order from you, trusting enough to give up serious information. You’re not some guy in boxer shorts in some basement stealing credit cards. They don’t know who you are. You’re a webpage, but you’ve satisfied that most important question to the casual web surfer—what’s in it for me?


Now you have to convince them to buy something. Make an incredible, compelling offer, and then get them to fill out an order form or checkout or whatever. You have to ease understandable objections but having a secured site (Whatever the costs do it! You don’t want to be the site that was hacked or broken into for credit card info. It’s hard to recoup from that if you’re not one of the giants).

Once they’re convinced, you want them to fill out the whole order form that’s user-friendly, simple, yet detailed. What did they order? Is it a product that is used consistently? If so, about when would you expect this customer to be most open to buying this product again, and maybe something else, something that costs even more?

Here’s where the backend marketing starts. Great customer service and reliable producers and movers are musts, but your marketing costs are absolutely zero in terms of your ability to follow with hundreds, thousands, hundreds of thousands of people (depending on the product/service). By having a system in place that captures key information, that database becomes your genie for when you are most likely to make your next sales. You can literally predict about how much money you’ll make at intervals you determine.

Let’s say you have a repetitive product like vitamins.  You sell a bottle of Vitamin C to one customer that amounts to a 45-day supply. Guess what they’re going to get 30 days later? On your order form you’ve captured name, email, product, date, all the key data you can manipulate any way you like to automatically kick a personalized email to that customer when they’re most likely to by that again. Throw in a 10 percent discount. Make them an offer hard to refuse.

Now think about the up-sell, and the limitless people you can reach on the web. And what did that cost? Zero. Nothing. Nada. Zilch. No time at all. It’s done automatically. If 10,000 people order today, 10,000 people are going to get an email 30 days from now to remind them of that.

Think you’re going to get any extra business from that? And even if you don’t, so what? It’s free! It didn’t cost anything to do it. If it didn’t work, just fix the content of the email, go back and do it again. It’s so easy and simple, the power of Net. That’s backend marketing.

Once you have that email address, it’s free to market to them forever. Backend marketing is the key to online business. The old way of backend marketing meant sales aggressive sales calls or mailing catalogues, both expensive. By email, you can reach as many people as you can bear and do it free all the time.

And this doesn’t just apply to strictly online businesses. Next month we’ll look at how a few extra seconds of effort with your in-store customers means the beginnings of a database and more sales!

Target Surfing

Posted on by 2
businessman using tablet in ocean

To know the importance of having a website for your business is one thing. Knowing the purpose behind having a Web presence is a whole other thing.

If your business is already up and running, you’ll have to cater your strategies to what you already have in place, particularly in terms of your pre-existing customer base. That means getting them to fill out cards in your physical business, or otherwise enticing them to your website with special offers. Then follow-up emails. We’re still talking basic marketing and backend selling–making money on those who are the easiest to sell to–those you’ve sold to before.

But if you’re still unsure of what kind of business you’d like to create, take a good, long look at creating an online business.

What works in your favor is that the easiest way to make money online is to focus on a specific market, find a product that they want, and give it to them. Searching for your best prospects online isn’t that much different than offline.

How do you do this? The same way you look for anything else online: surf. Just type it in–for example, maybe you have a passion for scuba diving that you’d like to turn into a business. You find all the news groups, forums, and websites regarding scuba diving. Is there anything that they’re talking about a lot? Any patterns where something is wanted but not easy to find?

That’s how you find your target market. It may take you a day, a week, a month, maybe longer. It depends on what your market is and what you’re trying to find, but whatever the niche, there’s a large enough market that’s relatively easy to get to. You know where they are, and after some research you’ll know that they want something specifically. All the gamers are hanging out in one market. All the sports nuts are hanging out in one market. All the people that are interested in holistic medicine are hanging out in one market. All the doctors are hanging out in one market. It’s easier to get people than you might think.

Try getting those people through the local newspaper. If 20,000 people view your ad (theoretically), you’d be doing great to get 10 of them to show interest. Online, you can go right to where all of your target market hangs out. Your target market is sitting right in front of you.

There are tons of people who know enough about the money-making potential of the Web and ask, "So what do I sell online? What’s going to be a hot seller?" It’s the most common and most fatal mistake.

You never decide on the product. You find an easy, targetable market, find out what they want, and you give it to them. It’s the easiest method in the world. You have an instantaneously successful business. It is a no-brainer. It doesn’t take any smarts to figure that out.

Anybody out there discovered the power of doing business online recently (I know you’re there)? What did you find frustrating, or powerful, or even profound? Did you incorporate a Web presence into an existing business? What have been your greatest learnings? We want to hear from you!!!

https://bit.ly/UltimateInternetBootcamp

https://bit.ly/ClickAndBeFree

Older posts
Newer posts