It’s extremely important to build relationships with your vendors and those around you can bring in new customers/clients and increase awareness of your company branding.
The people you work directly with on your products and services are really the ones with the most to gain when you find success. By taking the time to get to know them, you’ll find a whole host of opportunities you didn’t realize were there.
Look for great ways to offer your vendors rewards for helping grow your business and everyone wins. One of ways you can do this is by offering performance based incentives that are much larger than their normal charges.
Here’s the step-by-step process to putting together a partnership with a vendor:
- Approach all the vendors you work with and offer an incentive based on performance.
- Put the generous incentive plan together from their perspective, even take suggestions.
- Develop a clear, concise and easy to track incentive plan, this will increase competition between vendors and therefore higher performance levels.
- Encourage subsequent sales instead of focusing only on the initial sale. By doing this you can give away more of the profit from the initial sale to your vendors and make higher profits off the back end products. Encourage:
- Future sales
- Upsell better and more profitable products/services
- Cross-sell to additional products
5. Create an incentive plan that’s irresistible to your vendors by offering generous, exclusive compensation.
Think of all the vendors you work with and the creative ways you can put together an incentive plan that entices them to be part of your business. Use their talents, capabilities and connections and you’ll both be winners.
Putting together an incentive plan doesn’t have to be a complicated process. Use our GUIDED TOUR to come up with some great ideas and put your incentive plan together for maximum results. https://roberttuckeruniversity.com/myguidedtour/
There are 5 major components to good advertising copy: (The order of these is essential to success)
- Command Attention
- Showcase Benefits of Products/Services
- Prove the Benefits
- Persuade People to Embrace the Benefits
- Call to Action
Advertising is sales in print. So, you need to think about the unique benefits your products/services offer and showcase that in a persuasive way. You need to emphasize results, not features.
Let’s take a minute to talk about each of these components:
- Command Attention: This is usually accomplished with the headline. You need an attention-getter that makes people want to know more about your products/services. The best headlines give a vivid portrayal of the benefits or show how a problem can be avoided with your products/services. The headline is the advertisement for the advertisement.
- Showcase Benefits: You have to showcase the benefits of your products and services and, more importantly, show how they will solve or prevent a problem. They need to know what’s in it for them. Include useful, factual and clear information to show precisely what the benefits are and how they are going to help the customer.
- Offer Proof: This is where you prove what the advertisement is offering. You need to establish you have a method to deliver. Consider information that establishes credibility and past performance.
- Persuade: You need to add compelling reasons for your potential customers to purchase your products/services. Use a hard sell approach and create scarcity. This will enact your potential customers to feel like they have to act now. Which leads into the last component.
- Call to Action: You need to compel your potential customers to DO something. They need to check out your site, sign up for your newsletter, purchase your products, contact you about services…something. Offer a freebie-a booklet, sample, product, bonus, demo, consult, limited time price…the list goes on. There are lots of ways to get potential customers excited about ordering and help them feel like they are getting an amazing deal.
Good advertisements include all of these components and are not complete without any of them. You can sit down and think through any one of these components, then figure out how to best place them together for the most effectiveness. We can help you with this too. Try our GUIDED TOUR to learn how to put together great advertisements from some of the best in the business.
Direct response marketing is a marketing that demands a direct response from your potential customers. This type of marketing is used to answer questions, present your branding, products and the reason you do what you do. Customers love this, as they are offered the opportunity to response, whether that be in the way of signing up for a newsletter, posting a comment on your site or blog, or purchasing a product from you.
So, what does direct response marketing look like? Well, it comes in many forms, including:
• Direct mail
• Print ads
• Radio and TV ads
• Coupons or other incentives
Some of the advantages of direct marketing are:
• A great way to use free time during lulls in business
• Productive way to communicate and empower you to create more relationships
• Great way to up- and cross-sell to current customers
• Low cost way to rustle up new business
• Used as leverage to turn small sales into large sales
• Supplement your current marketing program
• Cost-effective way to reach target markets
• Offers measurable results
• Reach outside your local area for new business
• Increase the effectiveness of your sales force
These are all great things that can come from just taking a few simple steps to putting together a direct response marketing plan and executing it.
“I honestly don’t think you’ll ever find a safer, lower-risk, higher-profit method of increasing your business or profession than direct-response marketing.” Jay Abraham
Direct response marketing is one of the best ways to launch your business on a large scale and reach out to everyone in your target market whether they are in your local area or not. Our GUIDED TOUR can help you put together a great direct response marketing plan and get you on your way to heightened success. Click the link below to take a tour:
Today I’d like to teach you about the three most important start up marketing tools you need to get and keep new customers.
- In person: It’s essential you meet with customers/clients in person whenever possible. This shows you respect them and take the time to work with your clients to give personal attention to each of them.
- Follow up letter: Always take a moment to send a follow up letter about what you talked about, new agreements or partnerships made and to thank them for taking the time to meet with you. Likewise, you should always send thank you letters or small gifts to partners you find success with.
- Phone call: Use a telephone call to follow up with them to talk again about the matters you talked about in your meeting and offer any assistance you can to help their business run smoothly and more successfully.
None of these will work if you don’t have a quality product/service to back you up!
Here are the key steps for putting together your start-up marketing tools:
- Research potential customers, buyers, competitors and their preferred methods of distribution.
- Talk to potential customers. Take a hard look at your product from a customer’s perspective and see what it needs to be successful.
- Follow up with your 3-step process from above.
- Develop systems for contact follow through, quality control standards and customer service.
- Develop post-sale follow up system to keep lines of communication open is customers and build on your current relationship which increases future purchases.
“Marketing and innovation produce results; all the rest are costs” Peter Drucker, management consultant
Here’s another one I love from an icon:
“If there is any one secret of success, it lies in the ability to get the other person’s point of view and see things from that person’s angle as well as from your own.” Henry Ford, Founder of Ford Motor Company
This lesson has offered you the tools to put together a start-up marketing plan that can be used over and over again to help your customer base and business grow in a manageable way. The tools offered in our FREE test drive offer these very same things.
Today you’re going to learn how to find a target market of potential customers so you aren’t wasting precious resources on blitz marketing. So, the two questions you have to ask yourself are:
- What do people really want to buy from me?
- What related products are they already buying?
Once you figure this out you will know who is more predisposed to purchase your products/services. Then, you find other businesses with the same customer base who you can customer share with. Come up with an incentive and great arrangement to encourage both of your customer bases to shop at both of your stores.
The basic concept is this:
You want to find existing businesses who have the customer profile that you are looking for to market your products/services to.
Then strike up a relationship with those business owners to work out an incentive for customers to purchase from both businesses.
As a result, you have an audience to market to and they generate an added value from their current base.
So, how do you figure this out? There is a great formula from Jay Abraham you can follow with great success.
LV = (P x F) x N – MC
Here’s what it all means:
- LV is the life time value of a customer
- P is the average profit margin from each sale
- F is the number of times a customer buys each year
- N is the number of years customers stay with you
- MC is the marketing cost per customer (total costs/number of customers)
Once you know how much you need to spend to attract a new customer, you will know how much of an incentive you can offer to a business to help attract new customers.
So, here’s your step-by-step process:
- Find companies who already have the customer base you are looking for.
- Negotiate an incentive for them to share that customer base with you.
- Focus your marketing resources to this group of predisposed customers.
If you need help working through this process, check out our FREE test drive for the most comprehensive system of marketing tools and resources.