Jim's Marketing Blog

Marketing ideas to help you grow your business

How to find windfall profits within your business, starting now

There could be a fortune in hidden, windfall profits in your existing business, just waiting for you. In today’s post, I want to help you find it!

I need to begin with one of the fundamentals of marketing…

marketing maximizer

You never get marketing right, the first time

No one gets their marketing right, the first time. The best marketing comes from testing each element and then measuring the feedback. You then make the required adjustments and test and measure again. You repeat that test and measure process until you can’t wring another 1% of improvement from it. Then, when you have maximized that, you move on to the next element of that piece of marketing.

For example, if I were helping you massively improve the success of your marketing emails, I’d start by testing and measuring each of the following areas, one at a time:

  • The headline or subject line.
  • The call to action.
  • The number of links within the email.
  • The language used. (Phrases like ‘click here’ or ‘amazing results’ within the text of your emails can result in them being filtered as junk mail)
  • The same is true of using characters in your subject lines, which are not letters, such as exclamation marks (!) and percentage signs (%) etc.
  • The length of the email. Most are at least 300% too long.
  • The font style and size.
  • The size of your paragraphs.
  • The day you send your emails out.
  • The time of day you send your emails out.
  • The form of distribution you use. Do you send them yourself or use a 3rd party? If you use a 3rd party, do they have a solid reputation for getting emails through filters?
  • There are many, many more elements we’d need to work on in addition to these obvious ones.

Small changes can lead to massive improvements

Even seemingly small changes to your marketing can lead to massive improvements in your results.

Let’s take the example of the first item on that list above. Something as simple as using a better headline in your marketing emails, can see your open rates increase by hundreds of percent or more. Most small business owners find a headline they like, then just use it because they like it. By testing open rates with different headlines (or subject lines) and then measuring the results, it’s possible to uncover headlines, which your prospective clients find irresistible and have to open.

By testing and measuring just that one element of your email marketing, you can see amazing results. Now imagine the potential, when you leverage all the elements!

One word of warning here: Only test and measure one element at a time. Otherwise, you will not know what change created what result.

Other areas to maximize

Every area of your marketing can and should be fully maximized, not just your email marketing. Here are just a tiny number of examples:

  • Test and measure the call to action message on the sales pages of your website, blog, mail shots and advertisements, etc.
  • Test and measure different locations for the email capture box on your website. Time and time again, I have found the top right hand side to be the most effective – even out performing annoying pop-up boxes.
  • Test and measure different voice mail messages. Subtle changes can increase the number of people who leave you their number.
  • Test and measure different advertising vehicles.
  • Test and measure different window displays.
  • Test and measure different guarantees within your marketing.
  • Test and measure sending out your mail shots, marketing emails, catalogues, newsletters, etc., with different frequency. If your newsletter is sent once a month, try sending it out every week or every 10 days. If you offer a catalogue and it’s sent twice a year, consider sending it 3 or 4 times a year. I’ve seen this double a company’s turnover and profits.
  • Test and measure different order amounts. If people currently buy from you one item at a time, test selling your product in batches of 3 or 6 or 100. If you sell individual blocks of your time, test offering your time in batches of 3 sessions or 5 sessions.
  • Test and measure different prices or fees. Start by testing increases as these tend to have the best results.
  • Test and measure offering an elite version of your service or product. There is a highly profitable section of your marketplace, who will happily pay more for a more exclusive service or product.

Uncovering your windfall revenues and profits

No small business owner can afford to leave a fortune in windfall revenues and profits on the table. However, that’s exactly what most of them do, by failing to maximize their existing marketing assets. Test, measure, maximize and start enjoying massively better sales results.

Please check out this post’s sponsor: Clarity For The Boss.
“Get rich quick” doesn’t exist. If you want to learn to create your own success, build a business with sustainable profit and growth, and are
willing to commit 4 hours per month, click here.

About Jim Connolly: I help small business owners grow their business, make more sales and boost their profits. To see how I can help you and your business, read this.

8 Comments

  1. Shannon Buckland

    February 12, 2013 at 14:02

    THANK YOU for a fantastic post Jim.

    There’s so much information here I cannot wait to get my teeth into it.

    Shannon X

  2. Jim,

    You have me curious how much I have wasted or lost by neglecting this opportunity to fine tune everything. I better get working on this. Thank you.

  3. So, I’ve heard people talking about measuring and testing but this is the first time I’ve understood it.

    You demystify, Mr. Connolly :)

  4. Hi jim,

    I couldn’t agree with this more. Testing is crucial, the use of different types of language and phrasing can make all the difference.

    How do you test? I mean what programs are you using?

    One thing that has really been working for me on our blog, is that I’ve been using my most popular re-tweets (tweets I wrote) as blog headlines. It’s really working.

    I try and tell my clients that content creation is research and research is content creation. If you have a big enough following on Twitter it can be a great place to test.

    Thanks
    Geoff

    P:S: Blogging and commenting in Seven Sentences

  5. I do the same, Geoff, using feedback from Twitter and my main network, Google+, to help me measure the effectiveness of topics / headlines.

    The tools I use for measurement depend on what I am measuring. Email providers like Mailchimp, for example, usually come with tracking software, which shows you very clearly, everything you need.

    Thanks for the comment, Geoff.

Comments are closed.