Imagine the life of a hunter…
You wake up in the morning, gather your weapons and head out to combat. Some days you come back with a boar, other days your family goes hungry. The pressure is on you every single day to make the ‘catch’. It’s a battle.
Now imagine yourself as a farmer…
You plant your seeds and wait for them to harvest. In the meantime, you nurture them and treat them like your baby. When they’re ready you simply start harvesting your crop.
which will germinate in the future
This became blindingly obvious to me when I created some copy for real estate agents a few years ago.
However if the sale didn’t come off right away… they would
NOT put them on a database
NOT follow them up
NOT nurture them
… even though they had responded to an ad which identified them as their specific target market.
… even though each sale was worth several thousand dollars
… even though it would cost less than $12 a year to keep in touch with them
Why not? Well, I believe it’s because we live in a world of instant gratification.
I remember reading a book, a long time ago now, by M.Scott Peck which said one of the keys to happiness was to be able to delay your gratification. In a marketing sense, that means…
Accept the fact people may not buy right away
Put them on a database
Mail them something every month to stay in touch and position yourself as an expert
And like a farmer, wait for that customer to harvest. (of course you can touch base with them by phone in the meantime and nurture your business by building relationship personally)
Most people won’t do it. It’s too much work. Writing letters & keeping in touch. They would prefer to knock their head against a brick wall cold calling and doing things the hard way because at least they feel like they’re keeping busy.
But by doing this… you’re being ineffective. I know because that’s how I used to operate. Heck, two of my first jobs were as a door to door salesperson (selling cleaning chemicals to businesses) and a telemarketer (selling hotel cards) and I can tell you that business gets a lot more enjoyable when you are…
-an invited guest (when others call you because you have educated them of the benefits of your services)
-an uninvited pest (where you cold call and use other archaic marketing methods)
The most important thing you can take away from this message is to become a farmer. How do you do this?
… and prepare yourself for a rich harvest in the near future.
If you turn on your television, open up the newspaper, listen to the radio or browse some of the major news site – the dreaded “R” word (recession) is almost certain to be crammed down your throat!
So what are you doing about it? Have you stopped spending… stopped moving forward… because you’re convinced that everyone else has too?
Or are you going to look the tiger in the eye and attack him with all your might?
Here’s my thoughts on the recession: The economy is like a stream. Sometimes the tide runs in the direction you’re heading. So everything is easy. In fact, you don’t even need a paddle to achieve your goals. Just sit in the boat and you’ll get to the bottom of the river.
But then the tide turns…
All of a sudden it becomes obvious that if you keep doing what you’ve always done, you’re going to go backwards.
So what’s the solution?
Paddle Harder. Paddle Faster. Do more of the things that work.
Or perhaps change your marketing campaign approach altogether and find a new marketing strategy – give your friend a call and ask him to bring his speedboat down to the river.
Of course, things are tougher. But if you work harder… work smarter… and get the right vehicle… I believe it’s truly possible to earn more in the recession than you did in the boom. You just have to learn how to market your business during such time.
1. Market to the people who are not affected by the recession: one sure way on how to market your business effectively during a recession is to change your business model or set up a direct marketing campaign which goes to the rich people and companies that are going to be least affected in tough times.
2. Improve your advertising: Most advertising is pathetically weak. If you’ve noticed a 30% drop in business, simply improving the copy in your advertisements could cause you to be doing better despite the slow economy.
3. Address the recession upfront in your marketing: Have a sale because you’re trying to help people cope with the recession and figure that if the cost of food, petrol and mortgages is rising so much… you’ve got to help offset it by offering some substantial savings. Your customers will love you for it!
4. Contact your existing customers: That’s right. It’s five times easier to sell to an existing customer than to create a new one. So send out letters or jump on the phone to your existing customers and pay them a “how’s things” call
5. Study marketing: If you’ve got some spare time, use it to soak in and study more information about marketing and how to market your business more effectively. After all, just learning a few new tricks could make you that much richer in the months ahead.
6. Do joint ventures: Find other business owners who have similar clients to you and recommend each other. It costs you virtually nothing and is probably the most effective and profitable method of promoting your business.
7. Apply the power of 10: Contact 10 times as many new prospects. Follow up 10 times as many existing customers. Make 10 times as many “touches” with your client base.
8. Measure everything: Make every ad… every marketing campaign… and everything you do 100% accountable. This is one of the most effective ways on how to market your business. If something is working for you and profitable, run it more. If an advertisement or marketing campaign is losing you money, get rid of it quickly.
In closing, remember that your competitors are going to PANIC and SCRAMBLE and this represents an enormous opportunity for anybody who holds their ground and finds the speedboat they need to get ahead despite the turning tide.
So what is that speedboat? The metaphorical speed boat is more effective to market your business and stronger copy so you get more leverage from everything you do. If you need any help in finding your speed boat and getting the leverage you need copywriting that sells. And if you have any other ideas or strategies you’d like to share on how to market your business in tough economic times? I’d love to hear your thoughts.
Recently, I pulled out a copy of my book from the winner of Donald Trump’s Apprentice, Bill Rancic.
Now on page 111 of Bill’s book, You’re Hired, he talks about his cigar business and how he had built the business up through radio advertising.
However, when the sudden flush of dot-com advertisers came into the marketplace , advertising rates skyrocketed. Because of course, the rates were all based on supply and demand. The more demand – the higher the prices went.
Of course, that was great for the radio station, but not good for Bill’s business.
Now to cut a long story short, it was no longer viable for him to advertise. And he had to change his entire business operation.
Through some smart thinking, they moved the way they did business from mail order to on-premise sales.
However, it’s a very tough situation to end up in. And it could happen to any business that relies on one advertising strategy.
My point is this. If you rely on one of anything, you are leaving yourself in an exposed position. Imagine building a house which balances on one pole. If that pole gets weak, down goes your house.
And it’s the same with your business.
And anything else you can think of. That way… if the laws change… if the advertising rates go up… if all of a sudden one of these marketing strategies stops working as well as it used to…
Your business will be safe.
And you are the one that has the power because you are not reliant on any particular advertising strategy.
Right now, write down the types of marketing strategies you currently use to generate business. And then write down a few other ideas you can test, so you have 5 marketing strategies to draw people into your business.
And let me know how you go…