Marketing: How to Grow Your Business - Part 3: What Should You Offer?

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Marketing: How to Grow Your Business - Part 3: What Should You Offer?
By: June Bachman ~ 5/17/2017 9:00:00 AM

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View Previous Parts:

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STEP THREE: OFFER SOMETHING OF VALUE FOR FREE!

Offering something of value for free, you are creating an irresistible bribe that gives your prospect a chuck of value in exchange for their contact information.

The “Something of Value” offer supports the overall goal of increasing the number of your customers.

BWYSEBLOG_MarketingP3_WelcomeMat.jpgSTEP FOUR: CREATE YOUR WELCOME MAT OFFER

The Welcome Mat offer is generally extended to those who have already received your “Something of Value” offer.

The goal of the Welcome Mat offer is to change the relationship from prospect to customer … regardless of how small the sale may be.

  • Try to make these offers impossible to resist.
  • Consider selling your product or service at a loss.

You aren’t trying to get rich by selling your Welcome Mat offers. Rather, you are trying to build your customer base.

BWYSEBLOG_MarketingP3_ProductsServices.jpgSTEP FIVE: CORE PRODUCT & SERVICE OFFER

Traditionally, it is extremely difficult to try to sell your core products and services directly to cold prospects … especially if they are higher priced items.

There are many businesses that until this step to add profit into their margin. And some, such as Amazon … don’t worry about large profits margins at this step. They simply view this as part of the process of growing their customer base.

BWYSEBLOG_MarketingP3_profit.jpgSTEP SIX: ADD PROFIT MAXIMIZERS TO YOUR OFFERS

Steps three, four and five focus on reaching the goal of ‘Increasing the Number of Customers that You Have’. While, step six supports the goal of ‘Increasing the Average Amount each Customer Spends with You’.

For example … McDonald’s has practically NO profit margin on its hamburger sales … they make their money on the fries and Coke. The Fries and Coke are the profit maximizers.

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Computer stores do the same thing … practically no profit margin on the sale of laptops or tvs … but make the money on their warranties, installations and Geek Squads.

STEP SEVEN: DO IT AGAIN ….

The final step supports the revenue goal of ‘Increasing the Number of Times a Customer Buys from You’.

Have a plan for routine communication with your customers and prospects, so they’ll have both the reason and the opportunity to continue to purchase from you.

This is the primary reason why you should be blogging, working Facebook, and perhaps even Tweeting. Folding this strategy into your Social Media plan provides the structure of not only what you should be communicating with

 

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PUTTING IT ALL TOGETHER

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