Archives For Marketing Tips

A very important number in your business is the lifetime value of your customer.

The lifetime value of a customer is how much profit you’ll make from the average customer over the time they will shop with you.

Here is how to figure that out.

What is the average initial purchase they will make with you?

Subtract the expenses and you get the profit from the average customer.

How often do they buy each year?

How long will they stay with you? One year, three years, five years?

Always figure on the low end.

There are four essential elements you need to try and squeeze into every marketing message you put out to the public. This Cheat sheet will help you remember what is important.

1. Get Attention.

Use a headline or something that will catch the attention of your prospective customer. If you are selling to housewives then use a headline the starts with: “Attention Housewives…” or  if business owners: “Special Report For Business Owners in Jackson County”

It’s good to use a benefit laden headline: The two words “How To….(whatever solution you’re offering)” are very effective in catching attention.

7. Servant Mindset

 What can I do to serve this customer? What will benefit them best even if it cost me more than I thought?

 Or to put it this way . . . It’s not about you it’s about them.

 “Let this mind be in you which was also in Christ Jesus, who, being in the form of God did not consider it robbery to be equal with God, but made Himself of no reputation, taking the form of a bondservant, coming in the likeness of Men.” Philippians 2:6

3. Problem solver mindset

You are selling solutions to problems, you’re not selling products or services. This is a very important distinction. I’ll be spending more time on this in another chapter. But it needs to be mentioned here so you can begin to think about it.

If you can accurately identify the pains, problems and issues of your customer and then present a solution you’ll be doing great.

People hate to be sold but they love to buy. When you present solutions to their problems they will sell themselves and enjoy giving you money to solve their problem.

2. Empathy

 Rejoice with those who rejoice, and weep with those who weep. Romans 12:15

 “People will forget what you said, people will forget what you did, but people will never forget how you made them feel.” – Bonnie Jean Wasmund

Having a genuine empathy for where your prospect is and what they are concerned about is essential for marketing success.

A lack of empathy is the primary cause of unhappy customers. In a customer service survey some interesting statistics came out when asking why customers stopped shopping at a given store. Here is why you lose customers.

In this chapter will be looking at the mindsets you need to be successful. To have the wrong ideas about marketing can cost you a lot of money. To think incorrectly about marketing will also waste a lot of time.

1. Marketing is not an expense it’s an investment.

Marketing makes you money and it’s the easiest part of your business to improve without spending a lot out of money. As a business owner your main focus should be marketing. You are not a plumber you are a marketer who sells plumbing of a you’re not a lawyer you’re a marketer who sells law services.

Battling procrastination

 Sometimes it’s the overwhelming picture of what we need to get done that causes us freeze up. Here are some simple steps to help you overcome that problem.

1. Take your big project and break it down into 5 to 10 minutes tasks, choose a task and do it right now. Often doing something simple and easy will motivate us to keep moving and before you know it, you’re half way there.

2. Learn how to make the pain of inaction greater than the pain of action. Visualize the pleasure and satisfaction of accomplishing the task that is intimidating you. How will you feel once it is done?

What keeps us from taking action?

 Some people are just lazy so they never get around to doing what they know they need to do. “The lazy desires and yet has nothing”. (Proverbs 13:4) But in the business world, as far as owners go, this is a rare condition.

Another more common condition is they are too busy to take action. You can be too busy doing so many urgent tasks that you don’t take action on the important tasks that will have the greatest impact on your business.

We need to learn how to set priorities and say NO to many things so we can do the most important things.

Another common reason for inaction

Imagine you want to fix a nice dinner for someone special. You really want to impress them. So you run to the store and start picking up whatever sounds good, from cold cereal to spinach, bacon and cottage cheese, you grab whatever catches your eye.

Then you head home, dump everything on the counter

Who is your market?

April 3, 2011 — 1 Comment

If you try to reach everyone you’ll reach no one.

(A business owner sent me a list of who their market was
and in response I sent this email)

One of the pillars of marketing is knowing your market.

As you pick your target market always be looking to narrow
your niche, that is,