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Greetings!
Essential Principle #2 was about communicating the benefits
to your customers. For anyone who missed this, you can find #2 here. From now
on, all previous Essential Principles will be included at the bottom of the
emails.
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So; Essential Principle #3 is this; don't be dependent on
one or two marketing methods. To achieve astonishing growth, you want to turn
your business into a multi-level marketing machine.
This is such a simple idea, but so many business owners fail
to capitalise on it. 9/10 businesses use just one or two forms of marketing to
grow. With so many different marketing methods out there, there is no reason
you can't test a few.
The reason you want to use so many different methods is
this; are your competitors? No. What do you think would happen if you tested,
and then implemented, say 3 new strategies for marketing your business? Let me
tell you; your competitors would be blown away. They wouldn't know what to do
with themselves; while you are storming your way to the top.
It is not unusual to see businesses that do this grow by
hundreds of percent; and it's such a simple concept. However, I can hear what
you're thinking; the obvious question is 'Well, that's all very well, but how
do I do that?'
Well, imagine if this
time next year you had built your business into a multi-level marketing
machine, but you done it without risking large amounts of cash and you came
away with several, proven ways of growing your business that gave you a
rock-solid foundation. What would that do to not only your bank balance, but to
your entire quality of life? All of that is achievable with this principle, which is you must test all of your
marketing.
I can't exaggerate the importance of this principle; if you
don't get this, understand it, or implement it, you will spend the rest of your
business life living at a fraction of your potential. If you do get it, and
build it into your business life forever, your competitive advantage will be
incredible.
This principle of testing is what separates incredible marketers,
entrepreneurs and business professionals from the masses. When it comes to us
growing our business and marketing, it's easy for us to spend hours sitting
down, trying to discover what will work. Doing it in this way is actually
fundamentally flawed; why? Because at the end of the day, nobody knows exactly
what marketing approach is the best for a particular business at a particular
time until you go out into the marketplace and test it. It's only your
customers, or prospective customers, that can give you the answers on what
marketing works; so try it small-scale to start.
If you were to ask
me for the most powerful formula for building an incredibly successful
business, I would tell you to, every month, try out 2 to 3 new marketing
methods, on a small scale. Never spend more than you can afford to use. If
something doesn't work, stop it. If it does work, start rolling it out on a
larger scale, while it still remains profitable. Do this for a year, and if
just one of the methods works each month, you will have 12 new marketing
methods, all driving your success and profits.
Don't forget; you
don't have to test different marketing methods; you can test tweaking your
current marketing; for example, speaking in a different way on the telephone,
or writing a letter differently, and see what increases the response rates.
Now; if you are
starting a new business, there is something very important that you need to
test first. You need to find out whether people actually want what you're
offering, and they will want to pay the price you are asking for it. There are
two types of business in the world. The first is a proven business model, a
restaurant or an accountant, selling tyres of whatever. If you start with a
proven business model, offer a great product or service, and implement all
these great marketing strategies, I can pretty much guarantee you'll have great
results, because your competition just won't have a clue what hit them.
The second type of
new business is the 'wacky idea' business. It's the amazing product/service
that no-one's seen before. Now, the upside of this is that you could end up
like Bill Gates. The downside is that even if it's a great idea, the cost of
getting it to the public can be very high, and the truth is that 9/10 people
who start these types of businesses will fail. Now, I do not want to put you
off your dreams, and if you're passionate about what you're offering, great.
One last thing whilst we're speaking about testing;
Test an increase in your
prices, and then make sure that you explicitly explain the benefits of your
service; a lot of people believe that people buy mainly on price. They do not;
if you think about it, if you had the choice of a fire alarm that was £5 but
not very reliable, or one that was £50, but was guaranteed for life, which one
would you choose? People buy primarily on benefits, and then price.
So here's your
action step; decide today to test 1 or 2 new marketing methods. By the end of this
programme, you will have loads to choose from, so pick a couple, test it on a small
scale, and watch your business grow.
Essential Principles #4 onwards will be concentrating on the various methods themselves and how to make the most of each and every opportunity, so watch this space; this is where it gets juicy!
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