Why It’s NEVER the Economy, ALWAYS YOUR Fault

THAT’S a pretty broad statement, isn’t it?  After all, don’t you read pretty much every day how the Economy is struggling?  Now, before you get yourself on the defensive, read on…

“People just aren’t _______ (buying, eating out, playing, advertising, insert your product here) these days.  The Economy is tough.”

How many business people (or YOU?)  have said this as one of the challenges they are facing with their businesses?

But, the fact is, in just about EVERY case, it’s not a matter of some external “Economy” causing individual businesses to not do as well they had hoped; it is because the strategy and tactics to handle the situation were not sound.

Whether you are in IT or Interior Design, you are rarely the only competitor out there.   So, even if the pie is shrinking, you can increase your share of the pie.

How Do You Increase Your Share of a Shrinking Pie?

1.  Change your Marketing Strategy & Tactics

– Do the research on why your customers buy from you; why they buy from your competitors, and then adjust your marketing to make your offering more attractive to more prospects (NOT WITH PRICE).

 – Stop targeting “anyone who breathes, eats, has a house, etc” and start targeting your “Bullseye” customer.  This is in perfect harmony with the point right above; because almost everyone has ideal customers who are doing business with a competitor.

2.   Become more systematic in your Sales Process

 – Either learn how to sell better yourself (NOT ideal); or hire better Salespeople by actually having a process to understand their behavioral styles and motivations, rather than hiring them because they are a “friend,” “a friend of a friend,” or “just a doggone nice person.” (by the way, if you own a restaurant, your servers are salespeople. That is NOT bad, because a good salesperson ALWAYS has their customers’ best interests at heart)

– Even if you DO hire a great Salesperson/Server, have a script and a presentation that they use with leads and prospects.  Having a consistent script has been proven to increase productivity by 200% to 300% (yes, that’s right).

3.   Close your doors so customers stay with you longer and buy more.

–  Have a customer loyalty program based on data and research, not what YOU think will work.

– TALK TO THEM more.  The minute your customer gives you money is the WORST time to move on to the next prospect.  Instead, it is the BEST time for you to communicate with them about the amazing choice they made and then what else you can offer.

– Offer a better warranty/guarantee.  One of my clients was constantly hearing from his returning customers that the reason for their loyalty was his willingness to stand behind his product AND his work years after their purchase.  Considering how much it costs to get a new customer; we just chalked his warranty work up as marketing and the Return on Investment was AMAZING!

So, the fact is, unless you are on a remote island, with only  you and a few prospects; there ARE buyers out there who will buy your product or service.  Your job is just to get better at getting more of them to come to YOU, instead of your competitors.

————————————————————————————-

Besides helping business owners create a business that works on its own, without enormous time and stress from the owner; my extensive marketing education AND experience help me work with clients to create unique strategies and tactics that help them profitably increase their share of their target market.

More Sales + More Profits + More Free Time = VERY HAPPY and RELAXED Business Owner.  Last year, for example, a client of mine was able to sell his house, move to his vacation home, and still increase his business by 40%+.

Be ready to have your business TRANSFORMED from OK to Greatness.  Click here and schedule a free 15 minute Strategy Call; where you will get at least 2 new ideas for your business, and we will see if you are ready for the next step.

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