Jim's Marketing Blog

Marketing ideas to help you grow your business

Category: Business Development (page 12 of 99)

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.

6 Ideas to make clients fall in love with your business

Here are 6 ideas, to help you earn the attention and interest of your clients and prospective clients.

  1. People love to feel appreciated: What are you doing, to show them your appreciation?
  2. People love to save time: What are you doing, to help them get more done in less time?
  3. People love to talk: What are you doing, to give them a story worth sharing?
  4. People love to relax: What are you doing, to make their lives easier?
  5. People love to succeed: What are you doing, to help them achieve their goals or dreams?
  6. People love to learn: What are you doing, to educate them in a meaningful way?

Invest in your marketplace. Contribute. Don’t make the mistake of expecting them to care about you, until you have shown that YOU care about THEM, first.

Tip: This will help you get the balance right!

Here’s what to do, when clients say you’re too expensive!

Most small business owners still believe that their clients primarily care about fees or prices… and they are right!

However, this is only true because they fail to offer clients anything else worth caring about.

  • No, people will not pay you more than average, when your services are too similar to other similar priced services.
  • Yes, there are providers in every industry who earn 5X or 10X the typical fees. Why? Because they provide 5X or 10X the value.

Rather than complain that clients care too much about your fees, create something else for them to care about. It works. In fact, it can transform your business.

Tip: Here are some examples to help you sell on value and be in high demand.

It’s time for a powerful marketing tactic

Here’s an extremely powerful marketing tactic, which your competitors are overlooking. Get this right and you will give your business a very strong advantage.

It’s simply this: Meet your deadlines every time, no matter what it takes.

Why?

Because by consistently delivering your promises, on time, you set yourself apart from all or almost all your competitors. You tell us more about your professionalism, commitment and reliability, than a marketing message ever could.

It’s a wonderful way to build a great reputation.

It’s also a fantastic way to grow your business, because you give the marketplace a story, which they will want to share. That’s the key to attracting high quality, word of mouth referrals.

How to stop your business from becoming a dinosaur

If you want your business to become increasingly relevant over time, rather than fade away, here’s something you need to know.

Hipsters

Right now, there are lots of people walking around, wearing the Hipster look.

It’s fashionable. It’s in vogue. It’s very much of the moment. A trend, which has now gone mainstream.

Of course, the fashionistas have already dropped the look and moved onto the next new thing. Slowly, others will do the same. The Hipster trend then becomes something you look back on, just like every fashion before it.

Long term commercial success

When Groupon (remember that?) was the big thing, thousands of small businesses sprung up offering Groupon-like services. Then, when Groupon’s buzz died down, the trend those small businesses had invested in was gone.

Here’s the thing: Making long-term business decisions based on a current trend, is almost always a mistake.

Think long term. Focus on providing as much value to your marketplace as possible. What we know for sure is that value and quality are never out of style.

If you invest there, you can immunise your business from becoming yesterday’s news.

PS: Here’s some advice, with lots of examples, on how to build a successful business.

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