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…

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.
• 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.

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