ARE THESE 7 MARKETING & SALES MISTAKES CRIPPLING YOUR BUSINESS GROWTH? FIND OUT NOW.
Business is more competitive than ever, there are copycats everywhere so you need more than ever an integrated strategy to grow your business. If you are making these mistakes then you are losing your opportunity. Growing your business is all about creating momentum. Momentum is grown from all the parts of your business working synergistically together. This means you can’t afford to have leaks and gaps in your marketing and sales processes.
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NOT USING TRACKED DIRECT RESPONSE MARKETING - Do you know where your most profitable marketing is? - Do you know which adverts work the best for you?
If you are using branding or image advertising you are wasting money and losing potential leads. The first part of direct response marketing means using a headline and strong call to action offer focused on solving the problem of your potential customer. Audit all of your adverts and marketing materials to ensure you are using direct response marketing. The second part of direct response marketing is tracking the effectiveness of your marketing, this means measuring and tracking phone calls received, emails captured and of course ultimately sales converted from this marketing channel. This means you need to setup and organise your marketing funnel.
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NOT HAVING COMPELLING LANDING PAGES OR LEAD MAGNETS - Do you know where your most profitable marketing is? - Do you know which adverts work the best for you?
If you don’t offer people something of value on your website for them to give you their contact details then they won’t do so and they will then go somewhere else. You need to offer an interesting and valuable report that will help your target customer understand their problem and solution better and then how you can help them solve their problem. Just having this in place will dramatically increase your effectiveness. The second part is having focused landing pages, this means having pages with a single purpose to educate, motivate and capture leads regarding a specific solution. A good landing page dramatically increases your effectiveness at capturing leads and the systematic improvement of the lead capture percentage is known as conversion rate optimisation, this is an essential continual task to improve on.
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NOT COLLECTING POTENTIAL CUSTOMER CONTACT DETAILS - If you don’t get contact details then how can you keep in touch with them? - The average customer is looking for multiple solutions and we need to make sure we can keep in touch with them.
If you have no contact details you can’t keep in touch. If you can’t keep in touch you can’t build a relationship. This is so fundamental. Without this you can only sell to people who want to buy immediately which is only 8% of the potential market. A tiny percentage and then you are wasting all your marketing investment as you paid to capture their attention, but you were unable to maintain it. This is a business growth killer.
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NOT HAVING A BEHAVIOUR BASED FOLLOW UP & EDUCATION SYSTEM TO IDENTIFY SALES QUALIFIED PROSPECTS - Do you send everyone the same messages regardless of their interest level? - Do you allow people to self select their preferred information? - Do you have a system to identify the hot leads - people interested in potentially buying now/soon?
So you collected some contact details. Great, but how much more do you know about your target customer? Do you know exactly what they are looking for, do you which version they are most interested in? Do you know what their main issues are? Do you know who is most interested about all your materials now? Without measuring and tracking who is opening your emails, watching your videos and how frequently they are doing so you cannot match your messaging content and frequency to their behaviour and responses. This is the difference between sending out general marketing messages and having personalised communication with people. Personalised communication always wins and converts more. You need to use this to boost response and conversion.
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NOT HAVING A DIAGNOSTIC SALES PROCESS TO PRECISELY IDENTIFY THE FULL CUSTOMER PAIN POINTS & PROBLEMS - Do you have a thorough systemic assessment process to identify all the possible problems a customer has? - Do a thorough diagnosis so that you can then offer a comprehensive solution.
Selling is providing a solution for someone. To be most effective at sales you have to provide the best most tailored solutions for your customer’s needs. Do you know how to identify their needs? Do you know how to identify their potential objections? Do you have a systematic process which goes through all of this to understand their situation, position, implications and needs? Without having a systematic process you won’t know who they are buying for, what they are looking for, what the ideal solution is for them and what their main concerns and issues are. Then if you don’t know that you can’t then recommend or sell effectively. A huge mistake is also to not ask if there was anything else they were interested in thus missing out on upsells and cross sells. Improving this one process can dramatically boost sales.
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NOT HAVING UPSELLS OR PREMIUM PACKAGE TO ADDRESS THE PAIN POINTS AND PROBLEM FOR DIFFERENT BUDGETS - The most profitable sale is the sale to an existing customer as there is no marketing cost. - By having additional items or services to offer you can solve the customers problem better and more comprehensively. - By not having a premium option you are leaving money on the table as some customers just want the premium option.
If you aren’t providing premium solutions and add-ons as options you are missing out on revenue. A percentage of the population will always choose the most expensive or best option. If you have nothing for them you are losing out. Also many people have specific needs and without optional customisation extras you are depriving them of the very best solution for their needs and depriving your business of the potential profit from additional revenue.
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NOT HAVING A SYSTEM TO ENSURE AN OUTSTANDING CUSTOMER EXPERIENCE & REFERRAL INCENTIVE SYSTEM - The best new customer is a referral from a delighted existing customer. - Do you have a system in place to ensure your customers get a great result from your product / service? - Do you have a referral incentive system in place? - If you have no system in place to ask for referrals then you are missing out on the number of referrals you will get.
The cost to acquire a customer is high. It is much easier and more profitable to sell to existing customers than to get new customers. So you need to ensure existing customers are delighted with their purchase and the results they get, you also need to ensure you have a systematic process to address this. The best new customers are always referrals from existing happy customers so if you don’t have a system in place to turn delighted customers into referring customers and you don’t offer incentives / opportunities for them to refer you are missing out big time on growth. A person referring someone can easily double or triple their lifetime customer value to you and the name of the game is increasing lifetime customer value so you have to pay attention to this.
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HOW MANY OF THESE MISTAKES ARE YOU MAKING? TO FIND OUT HOW MUCH YOU CAN GROW YOUR BUSINESS.
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