How to avoid a major marketing mistake at least 90% of all small business owners make! part Two
Who else reading this particular post hasn’t at some point, seen this major marketing mistake play out right in front of their eyes? First of all, you already realize that any time you can increase your overall response rate to any type of advertising and or marketing strategy, you just increased your business leverage.Right?
For ex: suppose you run a rather expensive display ad in one of the (offline) local small business investment club groups, that typically meet (once a month), usually on the first or second Monday or Tuesday of each month.
Let’s say you’re a small Mom & Pop CPA firm, that specializes in little known tax saving strategies for (both) LLC”s & S corporation filers.
You must totally come to appreciate the incredible marketing leverage available to you, simply by inexpensively testing (whenever possible, your main power headlines against another.
Try To Avoid As Many Of The Major Marketing Mistakes As You Can!
Because when you do, often times you’ll discover, that one main benefit laden power headline will out pull another one by significant margins. Case in point: You might have spent $250 dollars (or X) to purchase a quarter page ad in that aforementioned local offline newsletter, and it generated seven responses.
And simply by inexpensively testing and tracking, you discover another benefit laden main power headline that (for the exact same) amount of upfront out pocket cost, it generated a 228% better response, or a total of sixteen responses/leads.
One ad cost you $35.71 per lead. ($250/7=$35.71 per lead.) And the other headline approach (Ad B) if you will, basically cost you just $15.62 per lead! ($250/16=$15.62 per lead.)
So ad B, generated more leads, for less upfront cost. That in a nutshell is business leverage. And that’s what you’re constantly striving for,right? Me too.
And just as a side note: As a general rule (right off the bat), you should never make the most expensive ad and or marketing strategy, your first option, without testing on a smaller scale first.
Meaning- you shouldn’t buy a full page ad, before you’ve tested various main power headlines, and you have a pretty good idea which benefit produces the most bang for your buck.
How Often Have You Seen This Next Major Marketing Mistake made!(Even By The Big Companies!)
Q.) Do you (or a friend) have cable TV? Have you ever had the cable rep come out to your home and or apartment etc; and satisfactorily service (and or) trouble shoot your cable service?
Have you ever been so darn satisfied with a company’s response to one of your customer service request, that you find yourself complimenting the sales rep that made your cable system run properly again.(Or maybe it was the on site computer rep, that got your PC up and running again.
Wanna know “how to” maximize a little known (mega proven) marketing secret? Dude (or Dudette!) whenever that type of really positive experience happens to (either) you, your telephone (customer service) and or your sales reps, or your outside sales reps etc.
You should (going forward) do at least two things:
A.) First, ask (more like ethically bribe) your best customers and clients, and get them to (either) film or record their power testimonial. Or you write up a really nice testimonial, (nothing over the top mind you) and simply mail or fax a copy to them and have them sign it. That way you have a copy on file for legal purposes.
B.) But here’s the other thing about maximizing the power of positive customer feedback situations.Think in terms of your local cable rep. They come out to your home to trouble shoot a problem with your cable. And you’re extremely pleased with the results, and you mention it to (either) your cable rep and or on site computer repair tech.
In the case of your local cable repair rep, the rep should immediately leverages your positive comments, by offering some type of upgraded service for a substantial discount of 30-75% off, for the next 3-12 months!
Because statistically speaking; a certain percentage of your customers that give you positive feedback and are willing to (either) video tape it or record the audio.
Or sign (your reasonably written) testimonial statement, they’re prime candidates to systematically offer upgraded discounted products and services to.
Otherwise, you’re simply leaving a ton of money on the table! You start systematically taking advantage of that major marketing mistake and you want have to constantly spends tons of valuable cash on constantly trying to create outrageously expensive new first time customers and clients!
Isn’t It Past Time You Stopped Leaving A Ton Of Your Long Term Profits On The Table!
List at least two simple spin off concepts (in the comments section below) that you can apply to your business, product or service in the next 30 days or less!
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And if you’re currently registered on Linkedin or twitter,and you’re serious about about doing some type of power networking.Let’s get connected asap!
Extremely important note:And if by chance, you happen to know any of the lesser known podcasters,who also target,small business owners,service providers or aspiring startups entrepreneurs etc.
And they’re pro-actively looking for potential guest speakers.Please don’t hesitate to-either- pass their name and contact information directly
to me or vice versa!Thanks!
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