Jim's Marketing Blog

Marketing ideas to help you grow your business

Author: Jim Connolly (page 11 of 187)

Are you giving your business the sunshine it needs?

small business, advice, resources, investment

What single investment would result in the biggest improvement for your business?

For example:

  • Hiring an exceptional copywriter to rewrite all your marketing material, so people take action when they read it.
  • Moving your business to a better location.
  • Working to a professionally developed marketing strategy, which lets you build the kind of business you always wanted.
  • Getting your website redesigned, so that it looks amazing and instantly gives your business a professional image.
  • Improving the customer service offered by every member of your team.
  • Hiring a better accountant. One who can help you improve the profitability of your business, rather than just count the beans and keep you compliant.
  • Developing a great new product or service for your existing clients.

I’m sure you can find examples, which apply far better to your business, but you get the idea. Now pick one… and put a plan in place to make it happen.

We wouldn’t expect a seed to grow without sunshine. Equally, we shouldn’t expect a business to grow without giving it the resources it needs.

Determination, drive, persistence and the other thing!

Determination, drive and persistence are essential for business success. However, without a strategy they are useless. That’s why toddlers don’t run the world’s most successful businesses!

Doing the wrong things, even with determination, drive and persistence, leads to nothing but frustration. It’s the mistake made by every business owner, who works hard, yet makes little progress.

The answer

If you are following a strategy and it isn’t working, either improve the strategy or replace it with one that works. If you don’t know how to build the right strategy for what you want to achieve, hire someone who does.

Remember: Working hard, for too little reward, is a choice we make. We are free at any time, to start doing the right things, correctly.

Tip: Here’s how to make better business decisions.

Yes, they can afford your fees. Here’s what’s really stopping them!

When a prospective client tells you that they can’t afford your services, it’s seldom what they really mean.

No.

What they really mean is that they think your service is too expensive — that the fee is higher than the value.

Lower the fee or increase the value

The average business owner lowers their fee, in order to be more affordable. The lower their fee, the higher the perceived value. If they lower their fee enough, they will gain lots of low value clients and build a low profit business.

The most successful business owners increase the value they provide. They then make sure that the value is clear to their prospective clients. If they increase the value enough, they will gain lots of high value clients and build a highly profitable business.

BONUS: Here’s a FREE, 3 part series on how to sell your services to the best potential clients, for the highest fees:

How to attract the best clients and the highest fees – Part 1.

How to attract the best clients and the highest fees – Part 2.

How to attract the best clients and the highest fees – Part 3.

How to create a new, extremely profitable income stream!

Would you like to develop an additional, extremely profitable income stream for your business? If you would, here’s a great place to start.

Clients who pay you massively higher fees

Imagine your clients were paying you 3 times your current fee:

Here’s a suggestion: Consider building a new, exclusive version of your current service, which offers all those amazing advantages.

Why?

Because there is an extremely profitable subset of every marketplace, who are very happy to pay a premium, for a premium service.

You deserve clients like that.

Don’t let this mistake crush your business!

marketing, copywriting, value

There is an extremely common marketing error, which is ruining small businesses. Right now, I’m going to explain what it is and also show you how to avoid it.

I was prompted to write this after being contacted by a personal development coach with a marketing problem. She explained that she’d hired several copywriters over the past year, to rewrite the pages on her website, which sold her products and services. On each occasion, the results were the same. Very few inquiries and even fewer new clients or product sales.

Why didn’t it work?

Simple: The problem wasn’t the copywriting. Allow me to explain.

Focusing on the wrong thing

She told me a bit about her business and it was clear that the problem isn’t the copy she is using. The problem is with the predictable nature of what she offers. Her services sound just like hundreds of thousands of other personal development coaches.

So, when someone sees what she has to offer, there’s absolutely no reason why anyone should hire her, rather than one of the others.

Here’s the thing: If your marketing messages are not generating enough inquiries, clients or customers, it could be a sign you need to invest in creating a better (more valuable) service, rather than a better marketing message.

Market demand

There’s no demand in the marketplace for a provider who offers something, which is just a little better, bigger, smaller, faster or less expensive than the competition. That’s not enough to attract your prospective client’s attention or interest.

As a marketing professional, I spend lots of time with business owners, helping them make subtle changes to what they provide, so that it becomes distinctive and massively more attractive. I suggest you do the same, especially if you work in a competitive industry.

Tip: This will help you. It shows how to make your product or service stand out in a competitive marketplace.

How to be a millionaire. Yes, seriously!

I’d like to share what I believe to be the easiest way, for a small business owner to make a million (pounds, dollars, euros etc).

How to make a million

Mathematically, there are lots of ways to achieve your million. Here are 3, starting with the worst and finishing with what I believe is the best option for a small business owner, with limited resources.

  1. You can make £1 from a million people. Possible, but incredibly hard. You need an extremely large reach, to connect with the millions of people required, in order to find 1 million who will pay you £1.
  2. You can make £1000 from 1000 different people. Easier than the first option. It requires a far smaller reach.
  3. Alternatively, you can make £10,000 from just 100 clients or customers. The balance here is a lot easier for you to manage. If you provide a product or service that has massive value, it’s extremely achievable to attract just 100 clients. Equally, if you’re marketing to the correct type of people or businesses, they have zero problem investing £10,000 in something, which they value enough.

These are not exact numbers. The best option for you may be somewhere between number 2 and number 3. The key is to get you thinking about how to make your next, or first, million.

An achievable, realistic target

Whilst many people struggle to believe they can become a millionaire, everyone in business knows they can attract 100 high value clients or customers, if they use the correct strategy. This totally changes how you feel about becoming a millionaire. Now it’s an achievable, realistic goal.

So, what are you going to create, which 100 people or organisations will pay you £10,000 for? Spend some time thinking about that. Give it the time and effort it deserves.

It could change your life.

Tip: Here are some useful ideas, on how to create a great new product or service.

To improve a business, let go of the Failing Familiar!

A reader asked me a great question earlier. She wanted to know why she isn’t making the changes her business needs, even though she is, as she put it; slowly losing her business.

Here’s part of the advice I gave her. I want to share it with you, in case someone you know needs to hear it:

“Start by accepting just how urgent your situation is. A failing business is unsustainable. The time to act is now… today. What stops most people doing what’s required, is that it means making a big, scary commitment. It means stopping your current strategy, which put you in this situation. It means letting go of the failing familiar.”

The hardest part of turning a business around is making that initial commitment, to let go of the failing familiar. After that, your mindset shifts. You start looking for answers, rather than hoping things will somehow, just improve.

Whilst hope is absolutely essential, it isn’t a business strategy.

Tip: Here’s a heartbreaking email, which every small business owner needs to read.

How to avoid wasting money on advertising

Here’s how to avoid a common advertising mistake, which loses small business owners a fortune.

Who (not how many) are you reaching?

The next time you are thinking of advertising, remember that the numbers come second.

Most small business owners buy advertising, based on the number of people who will read, watch or listen to the advertisement. That’s how to buy ineffective advertising. You see, it’s not about the number of people who will potentially see or hear your ad. It’s about who those people are.

The ad reached 125,000 people for just $475!

I was prompted to write today’s post, after a reader emailed me to say she had recently paid for an advertisement that went into a newsletter, with a readership of 125,000 people. She explained that whilst the readership “wasn’t an ideal fit”, she thought $475 to reach all those people was a bargain.

Her advertisement generated 9 responses and no sales.

Here’s what she got, in return for $475:

  • 7 responses came from pushy advertising salespeople, trying to sell her more ads.
  • 2 responses came from people who were totally unsuitable for the service she was advertising.

Like most small business owners, she was seduced by the number (or reach) of the advertising, rather than who the advertising was reaching.

In short: Before you invest a penny on advertising always, always find out who your ad will reach, before you concern yourself with how many it will reach.

Tip: Here’s some useful information, with examples, on how to get your advertising right.

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