Tap Into Larger Profits With Your PromotionWritten by Joe Bingham
The Promotion of your business is NOT about your business.It is NOT merely an announcement that your business exists. It is NOT simply about attracting new customers. And it is NOT your greatest source of generating profits. Promotion IS, however, active portion that fuels sales cycle of your business. It is last domino to be placed in line, and yet one that starts chain reaction bringing them all down. Let me explain. IT'S NOT ABOUT YOU Before you can focus on increasing your customer base, you've got to start out by defining exactly what it is you are offering them. However, don't make fatal error of describing your product or service in terms of what you do, but rather in terms of how your customers benefit. Your products cannot simply be items, but rather solutions for your customers problems, answers to their questions, improvements to their lives, savings on their time or money, or deliverers of their dreams. By first defining those distinct purposes you then have power to promote using subjects people actually search for, read about, and pay attention to. DON'T ANNOUNCE, INFORM No one really cares about your business but you. Others only care about what it can do for them. So when it comes time to do your promotion, focus on providing exactly that type of information. You'll attract more attention by focusing on end result provided to your customer than you ever will describing how your product or service works. MORE THAN JUST ADVERTISING Most view promotional efforts as a process for attracting new customers. While that is a large part of it, there should be far more involved. Not only can promotion attract attention of new people, it also: *brands your name on minds of customers and non- customers alike. *demonstrates continued activity of your business *reminds existing customers of your products and services *establishes credibility *furthers existing business relationships or partnerships *and reinforces your business's position in your industry A COMMON MISTAKE Focusing solely on attracting new potential customers is actually a common mistake among businesses. A greater source of continued revenue, and fastest way to increase profits, is through retention of repeat customers. All promotion should be aimed, right from beginning, at not only attracting new clients, but in keeping them around. Getting new customers is most expensive aspect of business. Continued selling to existing customers, however, is most profitable. Retaining more repeat customers, in fact, increases value of each customer to your business. With that added value, you can then afford to put more into attracting new people. This gives you a distinct advantage over your competition.
| | It's EQ, Not IQ, That Will Make You More MoneyWritten by Joe Bingham
The Promotion of your business is NOT about your business.It is NOT merely an announcement that your business exists. It is NOT simply about attracting new customers. And it is NOT your greatest source of generating profits. Promotion IS, however, active portion that fuels sales cycle of your business. It is last domino to be placed in line, and yet one that starts chain reaction bringing them all down. Let me explain. IT'S NOT ABOUT YOU Before you can focus on increasing your customer base, you've got to start out by defining exactly what it is you are offering them. However, don't make fatal error of describing your product or service in terms of what you do, but rather in terms of how your customers benefit. Your products cannot simply be items, but rather solutions for your customers problems, answers to their questions, improvements to their lives, savings on their time or money, or deliverers of their dreams. By first defining those distinct purposes you then have power to promote using subjects people actually search for, read about, and pay attention to. DON'T ANNOUNCE, INFORM No one really cares about your business but you. Others only care about what it can do for them. So when it comes time to do your promotion, focus on providing exactly that type of information. You'll attract more attention by focusing on end result provided to your customer than you ever will describing how your product or service works. MORE THAN JUST ADVERTISING Most view promotional efforts as a process for attracting new customers. While that is a large part of it, there should be far more involved. Not only can promotion attract attention of new people, it also: *brands your name on minds of customers and non- customers alike. *demonstrates continued activity of your business *reminds existing customers of your products and services *establishes credibility *furthers existing business relationships or partnerships *and reinforces your business's position in your industry A COMMON MISTAKE Focusing solely on attracting new potential customers is actually a common mistake among businesses. A greater source of continued revenue, and fastest way to increase profits, is through retention of repeat customers. All promotion should be aimed, right from beginning, at not only attracting new clients, but in keeping them around. Getting new customers is most expensive aspect of business. Continued selling to existing customers, however, is most profitable. Retaining more repeat customers, in fact, increases value of each customer to your business. With that added value, you can then afford to put more into attracting new people. This gives you a distinct advantage over your competition.
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