Marketing Ideas to Grow Your Company

 

Business is about exchanging time and money for something of value for both parties.  Significant business occurs through building a valued and trusting relationship and it starts you’re your relationship with yourself.   Successful marketing is first and foremost about who you are and what you are becoming.  Here are a few ideas for you to consider.

 

1. Begin with yourself

Ask yourself three questions

1.            Do I like myself?

In brief, do you want to become more of yourself and refine the gifts which you have been given instead of trying to imitate someone else?

2.            Do I believe in my company and product or service?

Unless you are sold on your own company how can you build advocates for you and your company, that is, people who will feel that doing business with you moves them to a better spot with products or services from your organisation?

3.            Am I willing to pay the price and count the cost to stay the course?

Most people are not willing to give up what they are to become what they can be.  Never give up!  Be persistent!

 

2.            Redefine your business

Think of the end before the beginning.  Do a size-up of your business and work on it and not just in it.  Research the following basic questions about marketing your business.

1. What business are we really in?

2. Who, specifically, are all of our potential clients and how are they segmented?

3. What do they perceive their needs to be in relation to the products or services which we can presently or potentially provide?

4. How can we meet these perceived needs? What is our positioning strategy?  What do we stand for in the marketplace?

5. How can we best communicate effectively with these identified target groups?

Do this exercise with your top team.  If you can’t work it out go and ask some of your top clients - they will be able to tell you.  You may be surprised.

 

3.            Build lasting relationships in your business, especially with clients

Your relationships with your clients must always come first. Your existing clients and all the new people that you come into contact with are key in building business because they will enjoy referring their friends and associates to you.  Nurturing your clients or customers comes before your product or service.

 

4.            Develop an extensive data base and classify it A, B, C, or D

It’s not only who you know that counts, but who your clients or customers, associates and friends know that really makes a difference.  Imagine if you had a data base of 250 people that you know, and they each knew 250 people - that is over 62,500 potential clients!  If you don’t have 250 in your data base then you need to develop a relational farm.  These people become the referral base for your business

 

Once you have a good data base, then A, B, C, D it

A are your advocates, your cheerleaders - probably about 10%.

B are people who will refer if you educate them about how you work - about 20%.

C are people in your data base whom you are not sure about but you will want to keep communicating with - about 70%.

D are the people that are synonymous with delete or defer.  These are individuals that you are certain you do not want to work with.  It’s a no thank you list.  Remember you are not only judged by the people that you do business with but also by the people you choose not to do business with.

The most important thing that you can do is to build a referral culture in your business.  Most businesses are sitting on a gold mine which they could mine if they focused on it.

 

5.            Analyse your client data base, products and services

The pareto principle states that:

  • 20% of your products and services provide 80% of your sales and gross profit; and
  • 20% of your clients provide 80% of your sales and gross profit.

Review your products and services and rationalise the range.  Focus on profitability and not sales.

Print out your client data base by sale and gross profit.  Classify them as A, B and C.  Work out a way to service C-type clients in a cost effective way, e.g. by monthly telephone calls.  These are important as they can grow and become A-type clients and they do contribute to fixed costs.

 

6.            Visit your clients in a scheduled way weekly

Allocate time every week to visit some of your clients.  This will be a sacrifice of time but it is an investment that will pay off.  The ideal amount of time is 20% or the equivalent of one day per week.  If you can’t do this, start small and build up.  Visit one client per week every week.  Consistency is the name of the game.  Here are five questions to ask your clients.

6.1            What have we done in the past that impressed you; something that exceeded your expectations?

6.2            What have we done in the past that upset you or that your people complained about strongly?

6.3 What would you recommend we change and by doing so we could serve you better?  Is there something that you would like to see that we have not done?

6.4 In terms of the service we are not providing you, what is the most important thing we must do to keep your business?

6.5 Who do you know that you would be willing to refer to us and contact so that we could present our business to them?

 

7.            Visit some prospects every week

Remember the old rule of the universe:  You reap what you sow; you reap more than you sow; and you reap longer than you sow.  It’s all about sowing and reaping.  I recommend that you visit weekly one new prospect that has been referred to you by one of your customers.  Remember that a referral is not just a name, but someone who has been contacted by one of your customers or centres of influence who knows you well.  Here are five questions which you can use with prospects.

7.1            What have suppliers done in the past that impressed you, something that exceeded your expectations?

7.2            What did they do in the past that upset you or caused problems for you that your people complained about strongly?

7.3 If you could wave a magic wand, what would you like to have as the ideal situation?  What goals would you like to achieve?

7.4 In terms of servicing you, what is the most important thing a company must do to keep your business after they have earned it?

7.5 Are you totally happy with your present suppliers?  If not, would it be okay if we continued to keep in touch?

This last question is called permission marketing and it gives you permission to build a personal relationship so that you can help them.

 

Conclusion

The implementation of these simple ideas will help you to grow your business and improve your life.