1 - Recession Proof Your Business Report

Copyright Notices Copyright © Andrew Ludlam 2009. All rights reserved worldwide. No part of this publication may be reproduced or transmitted in any form or by any means, mechanical or electronic, including photocopying and recording, or by any information storage and retrieval system, without permission in writing from the publisher. Requests for further information should be addressed to Andrew Ludlam andrew@maverickmarketingconsultancy.co.uk Legal Notices While all attempts have been made to verify the information provided in this publication, the author assumes no responsibility for error, omissions or contrary interpretation of the subject matter herein. The purchaser or reader of this publication assumes responsibility for the use of these materials and information. This report is for informational purposes only and the author does not accept any responsibilities for any liabilities resulting from the use of this information. The author does not guarantee any results you may or may not receive as a result of following his recommendations. Any perceived slights of specific people or organisations are unintentional. Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk “Imagination is more important than knowledge. For knowledge is limited , whereas imagination embraces the entire world, stimulating progress, giving birth to evolution.” Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk Introduction We are living in very uncertain times. In fact, a total of 5,651 companies here in the UK alone, faced critical problems during the last quarter of 2008. However, this continuous apocalyptic media frenzy, this diet of tabloid 'doom and gloom' doesn’t help much either! So it’s time to stop and focus... Critically focus on what you can do -- today -- to drive your business forward. Believe me, the only economy that matters is your economy. That’s it. Regardless of what you see, read or hear, the only economy that matters is yours. Even more so, as it’s the only thing YOU can affect, control... And change. And it starts with marketing... You see, marketing drives your business... And never more so in these uncertain times. If you can get good at something, get (very) good at marketing! So with this in mind, I have put together a very special (and timely) report that explores the fundamental KEY marketing strategies you must employ today, to ensure you and your business rise above this economic downturn. (And if nothing else, I genuinely want this report to be an 'injection of optimism' for you and your business!) “Recession-Proof Your Business: 10 Essential Marketing Strategies Needed To Ensure You Thrive During These Uncertain Times” not only details the ten immediately actionable steps that you can use today to drive your business forward, this report also contains the section “10 Quick - And Profitable - ‘Fixes’ That Will Immediately Improve Your Marketing”: an additional set of tactics you can use to tweak and turbo-charge your current promotional activities. Plus... An insight into the business-orientated mindset I want you to adopt over the next 30 days: a 4-week ‘road map’ to use and guide you towards better marketing what you do! However before we dive in, promise me something... Think about how the following material discussed can be applied directly to your business, or your role within the business. This report is not a one size fits all; the strategies are universal, however the tactics you employ will be dependent on your business. Don’t think ‘this won’t work for me’, instead think ‘how can I make this work for me?’ Okay, let’s begin with the first of my 10 Essential Recession-Proof Marketing Strategies... Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk Recession-Proof Strategy Number #1 Falling Foul of Price Reduction At first it seems the obvious strategy: when times are hard, cut back on your prices and offer your clients cost-effective appeals. The assumption is then that by cutting prices, volume will naturally increase. However this is not always the case. You see by adopting a price reducing strategy, you enter very choppy waters, because you are then chasing volume and not value. Consequently by reducing your prices, you then have to generate an even greater volume of sales to compensate for the reduced margins you now face. So, don’t be tempted to cut your prices: this not only devalues your product or service, but also sends out the wrong message. What do I mean? When times are tough, what do we ultimately want? Reassurance. The media is constantly and continuously full of doom and gloom. People want to limit risk, people want assurance. Essentially your clients do not want to make mistakes – especially – in an economic downturn! Your clients want value, results... And to reduce their risk. So think carefully: how you can demonstrate this? Even better, skew your business towards those clients that won’t not feel the recession. You might want to use a ‘Credit Crunch’ angle for a specific promotional strategy -- however - do not use the strategy of cutting prices as your only way out. Do it this way, and then you’re always chasing volume not value! Let me repeat, above all your clients want value, results... And to reduce their risk. If you can demonstrate all three factors, in a compelling and tangible way, then you have a very strong recession-proof strategy. Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk Recession-Proof Strategy Number #2 Don’t Ignore Stuff! There is a tendency, well, a strong tendency, to feel that if we ignore things ‘they will go away’. Unfortunately, as I’m sure you’ve noticed, this probably isn’t going to happen! I always urge clients to be ‘active not reactive’ (regardless of the state of the economic climate). As business owners you are innovators, you drive your business. So keep things moving! It can be difficult to maintain any sense of optimism, especially when all around us, things don’t look too good. Even iconic stalwarts of the high street are disappearing (Alas no more pick ‘n’ mix!) However, regardless of what is happening to others, the only economy that matters is your economy... That’s it. Regardless of what you see, read and hear, the only economy that matters is yours. Even more so, as it’s the only thing YOU can affect, control... And change. So appreciate that the outlook may not be great, and then plan ahead. Maybe this report can guide you in that sense. This may in fact be a good time to really take stock of what you do. To look at your business, critically, and examine every aspect of it. Time maybe to move away from the things that, as a business, you ‘do okay’ at and instead fire-up and market what you ‘do brilliantly’! Don’t wait for that light at the end of the tunnel, as it could be a train coming the other way! Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk Recession-Proof Strategy Number #3 STOP The Internal Rot! This is critical. If you have staff, then it’s very likely that they too, will also be worried about the current economic situation. Don’t forget... Your staff are also being fed this diet of doom and gloom from the media! Be open and honest with them. If your employees are seeing cutbacks, redundancies -- then given the current economic climate, they will naturally only think the worse... i.e. whose next?! You need to educate them. Create a climate of honesty, and not ‘backs to the walls’ staff meetings. Your staff can help you turn this around, but not if they are subjected to a stream of negativity either inside or outside of your office walls. Instead try this... Explain the current situation your business is in (either good or bad, or a mixture) and ask for ideas. You need to maintain a culture of optimism. You may remember earlier, I suggested that most of all your clients want reassurance, well so do your staff! They want to know that have a job to come back to. So again, I would strongly advise you organise a series of ‘recession proof’ staff meetings, where everyone can contribute suggestions and ways forward. Additionally you could also ask your staff to come up with cost saving ideas. They are on the front lines each and every day. What would they suggest you could do to ensure you cut costs, but also continue to thrive? Reward anyone that comes up with a great solution or concept. In other words, get your staff involved. Don’t ignore them. Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk Recession-Proof Strategy Number #4 Don’t Just Focus On Activity You see, if you’re not converting as many sales as you would like then you need to change what you do. Increasing the activity of your staff is not always the answer. Instead focus on coaching your staff. I suppose it’s the equivalent of banging your head against a wall, only a lot harder. If it’s not working, doing more of it won’t make much difference! There is always an emphasis, especially in uncertain times, to focus on closing, closing, closing... and quickly, quickly, quickly! However, let’s just stop and think about this for a moment. A raggedy, ‘this is how it’s done people’ selling approach from you, or your management team, will not work. Especially not long term. Instead, you must focus on getting better results from what you have, not doing even more with what you’ve got! Coach your staff. Maybe even coach yourself! Again it’s a strategy that should always be in place, however even more so these days: you must invest more time in training. You must get (very) good at marketing and sales. It’s skill that is critical, not just activity. Examine every part of the “prospect to client” process, and see how you can better enable you, and your staff, to improve. From a lead to a ‘sale’: how can you improve upon each step? There will be a tendency to close any and every sale, maybe even go for lots of small sales. However, don’t forget that you get out what you put in. So keep ‘filling the funnel’. There is always a tendency to concentrate on closing what you already have; however, your business will be better placed for long term survival through generating qualified and quality-based leads. Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk Recession-Proof Strategy Number #5 Lead Generation Is The KEY... So following on from the previous recession-proof strategy, never underestimate the importance of lead generation. It is very easy to get ‘caught up’ in the day-to-day running of the business, and the immediate concern at hand. However, quality lead generation is critical. And critical to your continued survival! Get into the habit of creating what I term ‘mini experiences’ for your prospects. You see many businesses -- especially service based industries -- make the mistake of trying to convert ‘strangers’ into ‘clients’ too soon; in other words they go for a ‘sale’, they don’t educate and nurture. And this is why many businesses fail. Why? Because initially it is too much of a leap of faith on your prospects part. Instead, you need to acquire leads, and then cultivate them. As Seth Godin writes in ‘Permission Marketing’, you need to turn strangers into friends, then friends into customers. The essence of a lead generation campaign is not only that it allows you to ‘fill the funnel’ with potential clients, but it also gets rid of suspects. In other words, eliminate time-wasters (as well as wasteful marketing and sales efforts) and pre-qualify leads. Okay, so how can a prospect ‘experience’ what you offer? Well, there are various ‘experiences’ you can create. For example: • • • • • • • Consultations Seminars Articles E-books Books Reports White Papers These are also important because prospects get to not only experience your material, but also your way of doing things: your take on things. Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk Recession-Proof Strategy Number #5 Lead Generation Is The KEY... Cont’d So why is lead generation such a critical strategy? Well there are various reasons, as follows: You Gain A Better Response To Your Marketing... It’s the perfect direct response devise. Believe me, there is no better way of gaining an excellent return on your promotional activities, than by giving away an offer or ‘experience’. As I’ve discussed many times previously, the majority of business advertising is appalling. Little more than a ‘blown-up’ version of the company’s business card. ‘This is us, this is what we do, contact us’. No... They... Won’t! However, make an offer to your potential market, and you will see a significant increase in the response to any advertising you do. Additionally, and most important of all you can test and measure the response to these offers. (See Recession-Proof Strategy Number #8) There Is Little Investment Needed... There is little, or no, investment . Neither you, nor the prospect need invest huge amounts of time, energy or money. Because I’m ‘sampling’ what you have to offer, I’m not taking a huge risk. And because I’m not taking a huge risk, I’m more likely to take you up on your offer! Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk Recession-Proof Strategy Number #6 Don’t Always “Stick To The Knitting” There are two parts to this strategy: One of the key and most profitable ways to grow your business, is to encourage the client to ‘buy more from you.’ However, many business owners will simply keep on trying to market their products or services to new customers. This requires a lot of time, effort and most of all... Money. Instead, go back to your existing client base with something new, or a new variation of an existing product or service. You already have an existing relationship with these clients, there is already a ‘dialogue’ going on, so profit from this! The second part of this strategy is particularly important given the business you’re in. What I mean is this; if your business cannot fundamentally continue to trade profitably under its current model then you may need to change things, and tap into a different market -- or -- tap into the same market, but through a different medium. For example... A company that offers interior design services is unlikely, given the current housing market, to find many clients wanting to move, and redecorate their new property. Instead, this company would be much better off, changing the focus of their marketing: perhaps targeting homeowners who are looking to make affordable improvements to what they’ve already got. Same service, different market. Literally sit down and brainstorm some ideas. Do not be concerned at this stage about the ‘how’, but instead focus on the kinds of additional products or services you can bring to the client; an existing client, who already values you. Or similarly re-assess what you offer, and see how you can re-position what you do, and make it more marketable. Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk Recession-Proof Strategy Number #7 Create The Optimum Client Experience I’m almost certain this is where many businesses go very wrong! You see, your clients are vital to your survival. Yes, a very obvious statement, but don’t underestimate this fact. Ever. Your clients are the only people that will ensure your business survives and thrives during the recession. Therefore... The client experience is everything. The client experience is critical, and should never be underestimated. Think about this for a minute... You may have invested time, effort and money in building a brand, in building a corporate profile. However, ultimately your client’s experience of your company is the brand. If you stand for ‘great customer service’, ‘reliability’, ‘efficiency’ etc, that’s great. But... If, as a client, my first experience of dealing with your company is to have been greeted by a surly receptionist, then that now becomes your brand. Your corporate image will forever be associated with this kind of customer service. Your brand, your image is always in the eye of the beholder, and it’s always established by your client. You have the ability to create greater value at every interaction with a client. The key is doing it. Okay, so how? Firstly, examine every stage of the client’s ‘experience’… That is: • • • Before the sale; During the sale, and; After the sale. Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk Recession-Proof Strategy Number #7 Create The Optimum Client Experience... Cont’d Plot every step, every point of interaction from the moment someone makes an enquiry, to the moment the client receives the end result, or benefit, of your product or service. Imagine a ladder, with a series of steps: how can you add greater value to every point of interaction? Give your clients more than they need – and more than they expect... And you will become the preferred choice. Now, the good news is that most of your competitors don’t or won’t care about this; most wallow in mediocrity. How often have you witnessed an advertisement campaign announcing a great customer experience, and yet the end result is something very far removed? Now imagine the client thinking the same of you and your company... Now imagine the client thinking that in these times, and then going elsewhere! One of the greatest recession-proof strategies I know of, is to optimise the client experience. Give your client more than they need, and more than they expect and you have a customer for life, in good times and bad. Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk Recession-Proof Strategy Number #8 Testing... 1... 2... 3. Another vital component of your recession-proof marketing plan is to test and measure all of your marketing. And if you’re working to a limited marketing budget, then this strategy is even more critical! How many of you reading this now, are using marketing strategies without truly knowing how successful they are? Or are simply using marketing tactics because, well, you’ve always done it that way? You must test and measure every form of marketing you do. That way, you will know what to improve... What to continue rolling out... And what you need to stop! So instead of committing to an extensive marketing campaign using, say, a specific sales letter, roll out the campaign to a small number, see what the response is, and then once you have discovered which layout/offer/call to action etc elicits the greatest response, market this extensively to the rest of your audience. That’s the great thing about ‘testing’, because I’m not advising you to commit to an extensive, expensive marketing campaign, but simply to test small samples, before rolling your campaign out. Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk Recession-Proof Strategy Number #9 NEVER Cut Back On Your Marketing... Instead Cut Back on INEFFECTIVE Marketing This strategy follows on very neatly from the previous one. That is, never cut back on your marketing, but do cut back on ineffective marketing! I urge you to stop running ‘institutionalised’ marketing. The kind whereby you simply plaster your brand all over the place: a flag waving exercise that doesn’t really amount to much, or lead to any demonstrable results. You see, if you simply plaster your brand all over the place, but there is nothing else demonstrated, then you can never create a reaction but only awareness. And I’m afraid ‘awareness’ without any form of action on the prospects part will never pay the bills. You need to practice the art of direct marketing; building a one-to-one relationship with your prospect by communicating with them directly, in a compelling and persuasive manner. You need to know what is working for you and what is not. So with this in mind: • • • Cut out any pretty, “institutionalised” advertising. Cut out any advertising that you cannot measure the results of. Create a reaction first and then awareness. In fact, I would go as far as to collect all your marketing materials together. Literally lay them out in front of you. Then firstly, examine how successful each of your promotional material has been (I’m a big believer in not reinventing the wheel: so if it’s working, keep on doing it). Secondly does it offer a strong and compelling call to action; do your promotional materials compel me to want to respond... Honestly? Thirdly, what can you now do to improve the effectiveness of your marketing that is falling short of the mark? I go through this process with private clients all the time, and I strongly urge you to do the same. Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk Recession-Proof Strategy Number #10 Can You Do It Online..? No, really... Is there any aspect of what you do, any part of your product or service, that could be promoted, or offered, online? Never underestimate the power of interactive marketing, such as email. This is an especially effective marketing tactic, as not only is it relatively cheap, but it is also measurable. So for a relatively small investment, you can achieve fairly demonstrable results. So once again, is there any part of your business that can be driven via online marketing methods -- or -- provided through online channels? This could be a very important question to ask yourself, especially, if you’re sensing that your audience is spending a greater time online, or seeking out your type of product or service via online activities. Here are a few ideas and examples to think about: • • • • • • Instead of offering a face-to-face service, such as training, can it be offered via online methods, such as a webinar? Rather than sending a ‘physical’ product, can it be downloaded or emailed? Instead of offering your clients an offline newsletter, can you send it by email? Would advertising in an online publication (such as an e-zine) be just as effective (and cheaper) than running an advertisement in a magazine? Would an email campaign be more successful than a direct mail campaign? Would an email offer to your client base generate some residual income? Would it prove more productive to just network online, as opposed to leaving the office to network offline? • These are just a few simple ideas to get you ‘thinking’. However, I would seriously consider the impact of utilising the internet to market and drive your business forward. Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk Recession-Proof Yourself The Next 30 Days... Okay, here’s a real challenge for you... Let’s now critically think about what you can do over the next 30 days to really get to grips with moving your business forward, and ensure it is ‘recession proof’... I’ve divided this ‘challenge’ into three very simple parts, as follows: Part One: Revisit, Revise and Apply Firstly, look again over each Recession-Proof Strategy. Some, more than others, will apply to your business. Examine each strategy and think about how you can implement what was discussed. What can you take-away, develop and most of all, apply to what you do? For example, are you consistently generating good quality leads? Or can you honestly say that you (and your staff) create the optimum client experience? Do you test and measure each aspect of your marketing? If you refer to pages 26 to 30, you will see I’ve taken out the ‘nuts and bolts’ of each recession-proof strategy, the critical point(s) I wanted to get across. I’ve also left you space, in which to write down how you make each strategy work for you. I would strongly recommend this tactic: Take at least an hour each day, to work through each recession-proof strategy. Just use 60 minutes to explore how you can apply the material to your business. I’m adamant that it’s the consistent persistence, and ultimately the application that will ensure at least 80% of your success. For most, the contents of this report will remain little more than ‘intellectual entertainment’. Don’t be in that mix. Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk Recession-Proof Yourself The Next 30 Days... Part Two: Do NOT Buy Into The Hype Whilst the media feeds you a constant diet of doom and gloom, it is all too easy to buy into this, and accept a ‘no can do’ approach. Instead, think thriving, not just surviving! Yes, we are entering difficult times, that’s a given, however, those businesses that will still be here for the foreseeable future, are those that don’t give in! The only economy that matters is your economy. That’s it. Regardless of what you see, read and hear, the only economy that matters is yours: it is the only thing YOU can affect, control... and change. This is an ongoing mindset you must develop, and it’s much more than just ‘staying positive’. Keeping positive is great, but without significant action it’s also fairly fruitless. So acknowledge the predicament we’re all in, but also realise that you must also adopt the critical recession-proof strategies discussed at length within this report. If you turn the page, here are just several headlines I pulled off the internet recently... Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk Recession-Proof Yourself The Next 30 Days... Now please explain to me how this ‘hype’ helps anyone? Okay, factually it might be correct, and I’m not asking you to ignore the facts, I’m just asking you not to let this kind of apocalyptic frenzy to limit what you do. A final thought... Who writes this stuff? Business owners buried in their company on a daily basis, living in the real world? Or, reporters that have only ever worked in an office and have zero experience of what it really takes to drive a business forward; reporters feeding you a diet of ill informed ‘advice’, that for some reason, some of us take on board and accept?! Okay, now for Part Three... Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk Recession-Proof Yourself The Next 30 Days... Part Three: ‘Fix’ Your Current Marketing Activities What follows are what I term the “10 Quick -- And Profitable -- ‘Fixes’ That Will Immediately Improve Your Marketing”. These are essentially a series of simple action points that I always work through with any client: 10 tactics you can now use to tweak and turbo-charge your current promotional activities. Again, read over the material and use it as a simple checklist -- are you doing this sort of thing? If not; great! It means you have a huge, and powerful, opportunity to grow and develop your business. Please turn over the page, for... Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk 10 Quick - And Profitable - ‘Fixes’ That Will Immediately Improve Your Marketing: Fix #1: If you are finding it difficult to attract clients -- if the marketing you’re putting out there is simply not doing the job -- then the first place to look at, is the advertising and marketing materials. Examine all of your marketing closely. Does it contain: • • • • A compelling headline Clear, benefit-laden and enticing copy A compelling offer A call to action. Use ‘Reason Why’ Advertising. Demonstrate a clear and unique benefit in your message. Do not fall into the trap of believing that branding alone works. It won’t. Be very honest with yourself: do your current marketing materials truly compel your prospect to want to respond? Fix #2: Your biggest expense will always be finding a new client. So once you’ve managed to get a client to part with his or her cold hard cash -- instead of running off and spending tonnes finding another new client -- Go back to your existing client and give him/her more of what they want. Remember this: you have already developed trust, value and credibility with an existing client -- they are “listening” -- so offer them an additional product, service or treatment. This might be more expensive... Less expensive... Or a similar price. However start to develop products that ‘fit’ with the initial sale. Additionally, now might also be a good time to go back to past prospects who originally said ‘no’ or ‘just not yet’. Look back through your database. Remember people’s circumstances change, so now might be a good time to re-visit old leads and follow them up. Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk 10 Quick - And Profitable - ‘Fixes’ That Will Immediately Improve Your Marketing: Fix #3: Do you communicate a clear and tangible difference? Okay, so you’re an accountant, with 25 years experience... ACCA accredited... Offering great customer service... At affordable prices... So What! You need to make it clear why you are the only one. What sets your company apart from the crowd? Tell me clearly and tangibly why I should use your business. Remember, unless you explain to a prospect what you do, how you do it, and every important and interesting facet of the product or service you provide, then they will make assumptions. (Usually wrong and usually price-based) Explain everything, and communicate this in a way that makes a real difference, and differentiates you. In other words, become the expert, and more importantly, demonstrate this! Fix #4: Do not take your lead from the big corporations out there, using pithy, clever, slogans and copy, simply aimed at creating awareness. Now is not the time for awareness, but action! The same principles that work face-to-face, are the same principles that work in print. You are still dealing with human nature; with a human being. Talk to your prospects as you would a friend over a cup of coffee. Don’t get fancy, don’t get all ‘corporate’... Deliver your pitch in a clear, concise and compelling manner. Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk 10 Quick - And Profitable - ‘Fixes’ That Will Immediately Improve Your Marketing: Fix #5: Test different prices and appeals. Very often business owners will go with a price because it works and, well, has always worked. Great. But what would happen if you suddenly tried increasing your prices? Very often this doesn’t cut response rate at all. Are you using the best price appeal? Could you sell your product or service for a greater price? If you’re not sure, well then test and measure the result. The same goes for any offer you might be rolling out. Could you improve on this? Could you offer the prospect a higher-value appeal, but one that is still low cost to you? Might this increase take-up? In other words, bundle more offers together. Or do both... Test an increase in price, with a ‘bigger and better’ offer. Fix #6: Establish joint venture partners. Look to work alongside non-competitive, but related businesses; broker a deal that would encourage them to promote your business to their list. For example: the owner of the list sends out a letter endorsing your services to his/her client base. This might elicit a far greater response, than any of your own methods. Why? Because this person is trusted and already has a dialogue with their customer base. You could then agree a commission paid to the list owner, based on take-up of your product or service. NOTE: it’s important that the list is being communicated to on a regular basis i.e. has frequent ‘contact’ with the business owner, in one form or the other -- and that they value and trust any endorsement made by this person. So list the kind of companies you could partner with. List all the types of businesses that might also look after your client base. Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk 10 Quick - And Profitable - ‘Fixes’ That Will Immediately Improve Your Marketing: Fix #7: Most business owners will tire of their advertising campaigns, long before their audience does. Or... Go down the route of re-branding, simply because ‘well, it’s time to do so’. Ultimately you should continue to run an advert, send out a sales letter, email campaign etc, until your audience decides they are no longer interested. Fix #8: Most business owners do not know what their clients want. Look at most marketing campaigns, and the emphasis is very much on the business and what appeals to them. Find out what your prospects want, and then offer it to them. I always say “Sell the product, then invent the product”. Okay, so how? Ask. Research. Find out. Remember this... Your client does not want your productive/service/treatment: they want solutions to a problem. Fix #9: Most business owners are intent on making that first sale -- with as little expense or outlay as possible -- and then move on. They don’t look at the big picture, or, how long that client is worth to them over the life time that they stay with the business. Try investing a little more in establishing that first sale, knowing that, your client may continue to buy from you over a long period of time. Work out the life time value of your client. How much they could potentially spend with you, during the time they continue to purchase your product or service. You will be amazed at how much income you generate from that client, so why not invest a little bit more at the front end. (If you would like more detail on LTV, then please email me) Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk 10 Quick - And Profitable - ‘Fixes’ That Will Immediately Improve Your Marketing: Fix #10: Be proactive not reactive. It doesn’t matter what business you’re in; essentially you’re in the business of marketing. Why? Because you can have the greatest product, service or treatment in the world, but if nobody knows you exist, then it makes no difference what you do! You need to be actively and consistently sourcing prospects and converting them to clients. So many business owners will realise -- often when it’s too late -- that they don’t have enough of a client base, and then begin their marketing. Be proactive not reactive. Go after your prospects, constantly. Create an offer that gets their attention; that fascinates them into wanting to contact you. So there you have it... The 10 quick and profitable ‘fixes’ for your business -- Read, learn, but most of all... Apply. Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk Recession-Proof Yourself The Next 30 Days... Checklist Recession-Proof Strategy Number #1 Falling Foul of Price Reduction “...Can you skew your business towards those clients that won’t not feel the recession? You might want to use a ‘Credit Crunch’ angle for a specific promotional strategy... Above all your clients want value and results... And to reduce their risk. If you can demonstrate all three factors, in a compelling and tangible way, then you have a very strong recession-proof strategy...” Notes: Recession-Proof Strategy Number #2 Don’t Ignore Stuff! “...Be ‘active not reactive’. As business owners you are innovators, you drive your business. So keep things moving! Take stock of what you do. Look at your business, critically, and examine every aspect of it...” Notes: Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk Recession-Proof Yourself The Next 30 Days... Checklist Recession-Proof Strategy Number #3 STOP The Internal Rot! “... Organise a series of ‘recession proof’ staff meetings, where everyone can contribute suggestions and ways forward... Additionally you could also ask your staff to come up with cost saving ideas. They are on the front lines each and every day. What would they suggest you could do to ensure you cut costs, but also continue to thrive...” Notes: Recession-Proof Strategy Number #4 Don’t Just Focus On Activity “...Examine every part of the “prospect to client process”, and see how you can better enable you, and your staff, to improve. From a lead to a ‘sale’: how can you improve upon each step? Your business will be better placed for long term survival through generating qualified and quality-based leads...” Notes: Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk Recession-Proof Yourself The Next 30 Days... Checklist Recession-Proof Strategy Number #5 Lead Generation Is The KEY... “...Get into the habit of creating what I term ‘mini experiences’ for your prospects... The essence of a lead generation campaign is not only that it allows you to ‘fill the funnel’ with potential clients, but it also gets rid of suspects. In other words, eliminate time-wasters (as well as wasteful marketing and sales efforts) and pre-qualify leads...” Notes: Recession-Proof Strategy Number #6 Don’t Always “Stick To The Knitting” “...Go back to your existing client base with something new, or a new variation of an existing product or service... Plus, if your business cannot fundamentally continue to trade profitably under its current model then you may need to change things, and tap into a different market -- or -- tap into the same market, but through a different medium...” Notes: Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk Recession-Proof Yourself The Next 30 Days... Checklist Recession-Proof Strategy Number #7 Create The Optimum Client Experience “...You have the ability to create greater value at every interaction with a client. The key is doing it... One of the greatest recession-proof strategies I know of, is to optimise the client experience. Give your client more than they need, and more than they expect and you have a customer for life, in good times and bad...” Notes: Recession-Proof Strategy Number #8 Testing... 1... 2... 3. “...Test and measure every form of marketing you do. That way, you will know what to improve... What to continue rolling out... And what you need to stop!.. Roll out the campaign to a small number, see what the response is, and then once you have discovered which layout/offer/call to action etc elicits the greatest response, market this extensively to the rest of your audience...” Notes: Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk Recession-Proof Yourself The Next 30 Days... Checklist Recession-Proof Strategy Number #9 NEVER Cut Back On Your Marketing... Instead Cut Back on INEFFECTIVE Marketing “... Firstly, examine how successful each of your promotional material has been. Secondly does it offer a strong and compelling call to action; do your promotional materials compel me to want to respond... Honestly? Thirdly, what can you now do to improve the effectiveness of your marketing that is falling short of the mark?...” Notes: Recession-Proof Strategy Number #10 Can You Do It Online..? “... Is there any part of your business that can be driven via online marketing methods -- or -- provided through online channels? This could be a very important question to ask yourself, especially, if you’re sensing that your audience is spending a greater time online, or seeking out your type of product or service via online activities...” Notes: Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk Maybe I Can Help You Further... I only work with those business owners who want to make a real success of their business -- and most important of all -- are committed to making that difference: “Success focused” business owners, keen to learn, develop and test proven client attraction strategies. It's all about the consistent -- and persistent -- application of proven client attraction methodologies... Combining both strategic and tactical applications, which are guaranteed to take your business to the next level. However... It's going to require an investment in both time and money. So if you sincerely feel you can make that investment, then please contact me. If you want more clients, then I can help you... If you want effective client attraction techniques, then I can help you... I have worked with: accountants -- life coaches -- security firms -- charitable organisations (25 to date) -caterers -- graphic designers -- personal stylists -- training providers -- event management -- nurseries -- beauty therapists -- massage therapists -- therapists -- interior designers -- wedding planners -- fitness instructors -- business consultants -- financial advisors -- printers -- carpet cleaners -- and many, many more businesses... If you would like to contact me: Email me directly at andrew@maverickmarketingconsultancy.co.uk or, call me on +44 (0)7734 862236. In the meantime, please visit www.maverickmarketingconsultancy.co.uk to discover more about what I do, the business owners I have helped, as well as details of my free weekly-ish ‘Maverick Marketing Newsletter’. Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk What They’ve Said... “I just wanted to say that I received an excellent service from you, concerning Marketing techniques for my business. As a result of your sound advice and training, my Nursery business is now at full capacity, and for the first time in our trading history we have a waiting list for places. Thank you also for your great insight, support and confidence building that you have given me to put a marketing strategy in place. And most of all thank you for your encouragement.” Oneta Letang – Giggles Childcare “My organisation was struggling to finalise a new strap line and, with time running out, I called in Andrew to work with us on the final stage of our journey. It was amazing how quickly he grasped what we were trying to encapsulate in a few words and in a matter of days had come up with a range of options, one of which was just right.” Lucinda Shaw – External Relations Director RedR UK “You must ask Andrew to write your copy. I was more than happy with the business seminar invitation I had drafted, but sent it to him anyway – however – a completely different document came back... It grabbed my attention and prompted me to read further... and I would have seriously considered attending had I not been organising it already! You need an expert for all key activities; otherwise you are taking a chance. If you can't afford to miss out, try Andrew. Like me, you'll be convinced.” Adrian Singer – Face to Face Finance “With Andrew I have gained the knowledge to take my business to new levels... And I am 100% content with the service that I have received... It’s brilliant!” Darrell Spencer – DNAinteractive Designs “Andrew helped me with general business advice and he suggested several terrific and innovative ideas for marketing purposes. These were simple to put into practice and very effective. I found our sessions creative and inspiring.” Lin Shwartzman “As a new small business Andrew provided me with support and expert advice when I needed it most. His knowledgeable and friendly approach was much appreciated and at no time did he make me feel like the novice that I was! To be able to draw on his experience and know that I can turn to him at any time is a great benefit and comfort to my business.” Rebecca Stoddard – Curves Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk What They’ve Said... “I was very uncomfortable about the whole notion of marketing which to me seemed to be about selfpromotion and I had huge issues with selling me, my service; basically I now realise I was battling against marketing me. Very quickly, you put me on the right track... With your superb and generous input, I know exactly what my next steps are and how to go about them. I feel truly energised. You outlined with me a clear plan of action as to how I need to proceed with targeting my niche group and the importance of developing expertise around this target group. Please do not hesitate to give my name to prospective clients as I believe you could help anyone on the right path, bearing in mind, you succeeded with me.” Alison Woodrow, Life Coach “Andrew provided some excellent ideas and really kick started the whole process. He understood immediately the way we work that involves everyone in our community and even offered ideas on how to get everyone to participate in the creative process. He has provided support by telephone and email proofing our copy, overseeing the creation of a tag line and giving us advice on how to make the most out of our current contacts.” Tessa Hazzard - Resource Development Manger Mosaic Clubhouse “We have in the past carried out a Direct Mail campaign with limited success for seminars and workshops it was a thankless task... Following the campaign via Maverick Marketing Solutions, particularly the work carried out identifying our niche market, and your style of copy was extremely successful... We continue to use your style in our Direct Mail letters and would like to thank you for dispelling many myths about marketing that had previously led us down a fruitless path.” John Lewing – Director PDP Training Ltd “After meeting several marketing people and being confused by their suggestions, I meet Andrew. I was overwhelmed by his ideas, suggestions and advice!” Caroline Howden, Interior Designer "I met with Andrew who was very professional and clear with advice. He has advised me on how to put together a strong marketing campaign. I gained so much from meeting with Andrew from the very first time. He encouraged me to write my first book... Thanks Andrew. Keep up the great work" Chyna Gordon (Alexander Technique Teacher) "Probably the most useful session I’ve ever attended in my life" Serena Britton “The advice was invaluable and worth every penny!” David Roskell TRU Office Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk Ideas... Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk Ideas... Copyright © 2009 Andrew Ludlam - Maverick Marketing Consultancy. All Rights Reserved. www.maverickmarketingconsultany.co.uk