Make Millions and Make Change 18

Make Millions and Make Change! 170 Send marketing items to your prospects and customers consistently over the life of your relationship with the purpose of keeping your company name in your contact’s mind: i.e. printed brochures, concise PowerPoint presentations, specials, faxes, newsletters, business cards, calendars, and other ad specialties (like pens, shirts, magnets, mouse- pads, bumper stickers, relevant press clippings, and so on). Do not forget to work with them online too by emailing relevant links, press releases, and other information.  According to Jay Conrad Levinson, the author of business bestseller Guerilla Marketing, an average prospect needs to be exposed to your message nine times before he is amenable to become a customer. Since the prospect only sees or hears your message one out of three times when you attempt to reach them, that would mean it takes twenty- seven attempted exposures to begin to saturate a prospect effectively with your brand or messaging.  The greater quantity and variety of exposures the better—referrals, press articles, fax, mail, newspaper ads, radio, affinity groups, friends, and online articles are all helpful in getting your message out.  As always, spelling and grammar in marketing material is critical—do not get any of it wrong. Optimize your overall verbiage and word- flow, so your message can be fully absorbed by the highest proportion of prospects. Work with creative marketing people to help you out.  Get Off Your Tuchus and Sell 171 Copious notes on each sales call and meeting should be kept in your contact manager, so you can gauge the effectiveness of your sales process and use that information to tailor your future messages. Call clients back in a reasonable amount of time after meetings or send letters and faxes, so they do not forget you. Ask for good days and times to do follow-ups if they are generally hard to contact and ask gatekeepers for the same information. You must follow-up thoroughly on leads or else all the time and money used on your background and introductory work is wasted, and all leverage is lost! Reprioritize follow-ups according to your perception of the prospect’s likelihood of bearing fruit. In this case, your contact manager (often SalesForce.com and SugarCRM are the best modern tools) once again proves to be critical, particularly its calendar functions.    Do a lot of hand holding for demanding prospects. On average, this will be worth the cost and effort for you and will lead to future strong sales and referrals. If you can please the most demanding customers, then you can please the not so demanding ones even more. Establish long-term personal relationships with targets and clients to the extent that it aligns with your goals. Make it easy instead of overwhelming or overly complex for clients to buy what you are offering. Then make sure to ask for the sale by saying, “What do you think?”, “Are you ready?” and “Can I bring you the contract?” Then sit quietly and let them answer; above all, listen to any objections you will have to overcome. If the answer is “no,” you will have to accept the rejection and move on until your sales process suggests it’s time to call on that prospect Make Millions and Make Change! 172 later, if ever. Do not be discouraged if your offer fails. However, when a customer is ready to sign up, do not give him the opportunity to change his mind—make the arrangements by phone, fax, and email ASAP or setup a meeting with the contract in hand.    Statistical modeling will help you organize and analyze the tests of your business activities. This can be especially effective in Internet commerce where you can electronically measure the effects of new navigation, graphics, text, partner programs, contextual advertising strategies, and so on while dynamically improving your results on a real time basis. Profits generated from your successful advertising tests can fund additional, more permanent advertising investments. This is the ideal.    When you make proposals to sell your services, they should often be based on standard company templates, which are then customized to meet each specific proposal at hand. They also must reflect the accurate budgets involved as well as the reasonable timeframes for benchmark activities. Proposals must be good-looking and accurate, spell-checked, and grammatically correct. Make an estimate of what the customers can spend since often what a client wants may not be what she can afford. Detail her specific needs so she knows the proposal is tailored for her.    Hit lots of leads simultaneously since only a minority of deals will ultimately close, no matter how promising they look in the beginning. Get Off Your Tuchus and Sell 173 Know precisely which services you wish to sell to each person based on his likely requirements. Suggest solutions based on previous customers in similar situations. See what others in the prospect’s industry do for their solutions. Know who your existing clients are and how to use them as references. Consider doing a tag-team on deals, exposing the prospect to several trustworthy, friendly, capable coworkers. This is often very successful. When possible, use your prospects’ consultants to help close the deals. Likewise, consultants might give you access to additional business from their other customers if they appreciate your service. Consultants are, therefore, leveraged prospects who should be considered high- priority. Once you have made a sale, check up on your customers and try to sell them additional services while also attempting to get references. Plant lots of seeds that could grow into good deals and opportunities far in the future. Build a pyramid of referrals that will spin-off business indefinitely. Recommend add-on services. Say, “I will be in your building at two o’clock, may I stop in for ten minutes to show you/tell you about…?” This way, you will spread a wide net over various markets while still getting the most out of each individual contact. Consider offering your prospects a questionnaire, if that makes sense for your product, and then take their feedback seriously to help improve future offerings. Make Millions and Make Change! 174 Document the good ideas and solutions that you learn in the field and include them in your Best Practices or Standard Operational Procedures master documents, so they are easily at hand when you want to re-use them and teach them to others.    It is possible, despite your best efforts and investments in advertising trials, that you have been unable to prove the effectiveness of traditional advertising for your business. Advertising is a technique that should be abandoned in favor of other investments if not directly proven profitable; whereas, marketing is a broader process that includes how you and your product are presented, so it cannot be removed from your long-term business plan. You should have a sound advertising strategy, which might include not advertising at all. Since the advent of Google’s AdWords/AdSense platform and Yahoo’s Overture platform, both leveraging the very profitable market they have created for dynamic contextual advertising links, along with older school applications like Advertising.com (now part of AOL) and DoubleClick (now part of Google), traditional advertising has taken new, innovative forms. Now, businesses, even with small budgets, can more effectively reach their target markets and contend against larger competitors through Internet advertising, which is currently best done with text link advertising via online bidding processes. Google has been the primary force in the democratization of advertising. Suddenly taking brands global is not just for big corporations with large-scale marketing budgets and strategies. Keep your eye on a company called SpotRunner (.com) and its competitors, which melds the better aspects of the Google targeting and bidding platforms with more traditional, local television and Internet Get Off Your Tuchus and Sell 175 advertising. Do not be surprised if Google or its wannabe competitors pay enormous dollars one day to control SpotRunner, its competitors, and its future market. With democratized advertising campaigns, your ads can be created, participated in, and more controlled by the public through user- generated ads and results-orientated advertising, which allows you to precisely test and measure your marketing strategies. Aspiring ad networks beyond Google and Yahoo include Blue Lithium, Revenue Science, Valueclick, Bidclicks, Adbrite, Right Media, Tacoda, and Bidvertiser. With friends like these, traditional advertising might no longer be the best way to reach your marketing objectives. Most likely, each year you will be able to justify spending a greater portion of your marketing dollars on nontraditional Internet-centric media at the expense of traditional broadcast and print channels. For instance, with your own small advertising budget, you can effectively expose your company via the Internet using Google AdWords (www.adwords.google.com). You only pay when your ad is clicked on (Pay per Click/PPC), and you have granular control of your campaign to adjust details like budgets, keywords, and dates whenever you choose. You can make as many changes to the advertisements as you want until you get the desired results, without breaking your budget. Google and Yahoo sell text link ads in a bidding process, even for tiny sellers and buyers of ad space, and have exact statistical conversion data with a multitude of ways to adjust and precisely measure your customer conversions.     Make Millions and Make Change! 176 Conclusion 177   Conclusion Every business has a chance to succeed. Yet only 50% make it through their first year, and only 10% see beyond their fifth anniversary. These businesses cite hundreds of reasons why they have failed. In most cases, however, the truth is that management made fundamental mistakes. To reduce the risk of wasting time and money, make sure you have sound business plans and a willingness to put in years of hard work. Invest in the best people, including a team of professionals to help guide you. Adopt the Best Practices of industry leaders and improve on them daily. Be innovative and have customer centric values. Stay focused at all times. Learn from the blips in your progress; do not let them derail you. Finally, when your business is successful and you have made your millions, take the time to give back to your community and the world by engaging in the charitable causes that mean the most to you. We hope that some of the ideas presented in this document will help you build the business of your dreams and that you will become a catalyst for positive social change. Go for it! Make Millions and Make Change! 178 Appendix 179 Appendix Profitable Sayings Most sayings do not gain popularity because they are whimsical. They are repeated because they are usually truthful and meaningful. Below, we have gathered some relevant and inspiring sayings to help you succeed. Some of them are easily attributable to specific people, and others are not. Whether or not you know the source is less important than taking them to heart. “Cash talks.” You may know the second half of this saying. Anyhow, cash is the ultimate leverage. You do not have to prove your intentions like those on credit; just prove you can do what you want in business by paying for it. Cash liquidity will give you extra access to deals, which will in turn allow you to pick the best projects and the best people. Mixing those people and projects with your hard work ethic and good ideas will pay off indefinitely. Unfortunately, for the cash-poor, the “rich” do in fact “get richer,” and this includes businesses like yours that produce profits and protect their cash properly. . questionnaire, if that makes sense for your product, and then take their feedback seriously to help improve future offerings. Make Millions and Make Change! 174. the business of your dreams and that you will become a catalyst for positive social change. Go for it! Make Millions and Make Change! 178 Appendix 179