95% of small businesses are stuck growing their businesses. They’re leaving a lot of money on the table by not being strategic. While the other 5% are being strategic using strategies they don't want you to know about, which gives them an unfair advantage over they're competitors.
Small business owners who think tactically are leaving millions of dollars more on the table for they’re competitors to claim.
By being tactical. They do things in they’re industry in the same way that everyone else in that industry does things. So they end up with mediocre results.
However, when you change your marketing efforts from tactical to strategic thinking. You rapidly increase your results exponentially.
One example of this is taking a strategy from another industry that’s never been used in your industry and applying it. Doing this can have the impact of an atom bomb, but in a good way.
Most small and medium sized businesses don’t spy on they’re competitors.
What I mean by this is that they don’t see what things they’re competitors are good at, and what makes them good so they can do what they’re doing, but do it better by making improvements.
They don’t investigate what they’re sales processes are like. They don’t investigate why they get more customers, clients or patients. They don’t investigate the successful marketing campaigns that their competitors run, and they don’t buy their competitors products to see how good or bad they are, or what they're sales processes and funnels look like, so improvements can be made to further their own growth and increase revenues.
One of the easiest things you can do is to reverse engineer your competitors successful sales funnels and use it. To do this you have to purchase the product and go through their sales funnel to see exactly what offers are being made, and how it's being presented.
This will significantly increase your own sales.
Ignoring just these few important strategies is guaranteed to cost you millions in lost sales if you continue to be tactical instead of being a strategic marketer.
Tactical marketers don’t think long term. They think only about the present. They do things that are short term that provide only short-term results. They don’t think outside of the box, because they only know how to do things they have always done what they do, and what’s considered the norm in that industry.
Unfortunately if you fall into that category you have the opportunity to do something about it today, and start growing your business.
You can get a bigger share of your market with increased revenues for less effort, but you need to know the strategies to use to achieve those results.
How To Ethically Steel Your Competitors
Top Performing Sales People
There are top performing sales people in both small and medium size businesses that are responsible for large portions of sales. You could contact those people and offer a better compensation deal to get them to work for your business.
Just think how much of an improvement that would be and the additional sales that would be made for your business, if you got the top sales person from a rival competitor to work for you.
This happens with sports teams all the time. The best players are always head hunted with an offer of a better deal to leave they’re current team.
That single player is considered a high valued asset worth many millions to whoever that person decides to go and join.
A perfect example of this is when the late Nikki Lauder in formula 1 approached Lewis Hamilton to join Mercedes for the 2013 season. At the time Lewis drove for Mclaren. Mercedes were not the leading team. Red Bull were the currant champions and remained at the top for 4 years.
Mercedes offered Lewis a better deal. Lewis joined Mercedes in 2013, where Mercedes became unbeatable for the following 6 years in a row. Lewis became world champion on 4 occassions during his time with Mercedes, winning his 6th world championship in 2019.
While Lewis was at McLaren, he was their best driver. He's also the most successful driver Mercedes has ever had, and the 2nd most successful driver in the history of formula 1.
So going back to business. You can do the same thing by head hunting the top performing sales people of your competitors, and get them to work for your business.
They could be worth many millions of dollars in sales that could be generated for your business. Ignoring a move like this, for sure will cost your business millions in lost sales.
You can even go one step better and go to the top 5 or 10 biggest competitors in your industry. Try to recruit their top performing sales people. Then you will have a mega sales force, and be pretty much unbeatable.
How powerful would that be, and what could it do for your business when you have 5 or 10 of the top sales people?
I’ve only provided you with a few strategies that you can apply to your business to significantly grow it.
I’ve not even scratched the surface yet as to what you can achieve with your business with the strategies I can give you.
Continue reading to discover more strategies you can use to get ahead of your competitors with less effort for greater yield.
How To Find Out Exactly What Products Your Customer, Clients & Patients Want To Buy
Without Guessing And Wasting Money
on Products or Services
When your competitors have an advantage over you. Find out exactly what you are competing with, and do what they do better.
What products or services are they selling to their customers, clients and patients?
Instead of selling the same products or services, do a survey and ask those people what products and services they want. They will tell you exactly what they want. They will tell you whom they buy from, why they buy from that business, and what they may or may not like about what they receive.
That right there is marketing gold.
Instead of giving them what you think they might want. By asking the people who vote with their own money. You no longer play the guessing game, because the people that will buy what you have to offer will tell you exactly what they want, so you just have to give them what they want.
So how do you reach those people?
You will find them on Facebook. Facebook has the biggest congregation of people anywhere. Over 2 billion people are actively on Facebook.
Your ideal customer is on Facebook. With a little targeting you will find the right people to buy your products and services. All it takes is for you to ask the right questions, and then go back to those people that you targeted with an offer for the things they said they wanted. You can do the same thing on YouTube and Instagram.
If you sell anything online this strategy is huge, because you will not be losing money on products or services that are not selling, or wasting money on advertising wondering why your products and services are not selling.
If you’re not selling online you need to start now. When you ask the right questions and are given the answers. You can provide your market with the thing they asked for, instead of playing the guessing game.
You’re guaranteed to make sales and sell a great deal more than what you’re selling now, because you’ve asked the market what they want and they told you. Therefore your sales conversions will be higher. The higher the conversion, the more buyers you’ll have, and the cheaper your ad costs will be, because you'll have a higher conversion rate.If you would like Paul Jones International to successfully run your marketing campaigns, complete a short form here to see if you qualify.
When your ads are cheaper you can afford to outspend your competitors, because they’re conversion rates will be lower, making ads more expensive to buy.
They won’t be able to spend as much on ads as you can to acquire a customer. Therefore they end up spending less and reaching a smaller audience, which means less potential customers will see their ads. This is great news for you.
Look at it like this. Think of a parade. Parades happen all over the world. Large amounts of people attend them. So imagine a parade is happening soon. It could be the Notting Hill carnival in London, the Brazilian carnival, or the Thanksgiving parade in the states.
People will need to drink but you don’t know the type of drinks they’ll want. So the typical person will think tactically and buy various drinks.
The problem with this is, yes they will sell some drinks, but they will also waste a lot of money buying drinks that won’t be sold.
Now, when you think strategically. You can do a survey and ask people that will be attending the parade, what drinks they would like. You can give them a choice of 5 or 10 options. They will tell you exactly what they want.
Then you go and buy the top two drinks that the majority said they want.
Between the tactical and the strategic person. Who do you think will sell more drinks?
If you said the strategic person you’re right. That person asked what most people wanted. With the data obtained. The strategic person instead of guessing what people might want.
He knows exactly what most people will buy, so now more money can be spent on stock, knowing that the stock will be sold, therefore, this allows for more money to be spent to purchase products for a greater return on investment.
Therefore the strategic person can spend more on products, because they have actual data provided from those that will buy the product.
The differences between being tactical or strategic are that when you’re tactical you do things for the moment and only short term. This is bad, because you only get rewarded with a fraction of a fraction of what you could otherwise be getting in terms of results and growth.
But when you think and act strategically. You do things to benefit your business. Everything you do enhances, maximizes and advances your marketing efforts long term.
Most small and medium businesses don’t understand strategy. For the few that do, when you change your marketing, your strategy, and your value proposition. You change the result. The rewards are huge.
Not selling enough is one of the biggest marketing sins most small and medium businesses do. You should never finish selling until the customer, client or patient has finished buying.
Just 5% of small and medium businesses get this right. Which means 95% of them sell just one thing and that’s it. You are doing a great disservice by not offering more products and services to your buyer.
The reason for this, they do not have any sustainable systems in place to offer, up-sales, downs-sales, cross-sales, more combinations of the same thing that was just purchased, or packages that can provide the buyer with a greater experience of what they just purchased.
There’s a misconception amongst business owners that only sales people should do the selling. They are a trained on the product, features and specifications, and once a sale is made that’s it. Even if the person only purchased a single item.
That’s not selling.
Every person within your company that has any interaction with potential buyers should be adequately trained in consultative advisory selling. This is extremely important.
It’s been clinically tested and proven that those who have been trained in consultative advisory selling as a team. Performance increases by a minimum 10% with a maximum of over 100%. These figures are sustainable and repeatable long term.
When you get involved in consultative advisory selling. You have the buyer’s best interest at heart. This isn’t just for sales people, but for every person in your organization that has any interaction with potential buyers.
Receptionists, customer service advisors, delivery drivers, cleaners, tech support, etc. They need to be trained on consultative advisory selling to all potential buyers.
When you do this. Your business will grow exponentially.
Using Sales Funnels To Consistently And
Predictively Increase Sales Month After Month
When you have erratic sales, meaning one month your sales are mediocre, then the next month sales are low and the following month sales are lower. This is a sign that you do not have in place a sales funnel that consistently and predictively acquires new leads, turning those leads in to sales month after month.
The purpose of a sales funnel is to get a large number of potential prospects to enter the top of the funnel. The easiest way to do this is to make an irresistible offer, just to get them into your funnel.
Then as the funnel gets narrower towards the bottom, you filter out the prospects that are not going to turn into serious buyers. So these are the people who were only really interested in the irresistible offer.
What you’ll be left with will be serious buyers. Those buyers will go through different stages of the sales funnel as you make offers to them.
You have a duty to your buyers not just to sell them one thing and that’s it never to be sold again, but you must sell multiple products and services to increase the sale, and constantly make offers until they say they are done buying.
When you offer additional products and services at the point of sale, meaning the buyer has already purchased something. At that moment in time is when you should increase the size of the transaction, by offering more things the person can buy.
40% of people will increase the size of their transaction when they are presented with additional offers, and when you continue to present offers to those people. They will continue to buy again and again.
How To Prevent Your Costs
Reducing Your Profits
If you find that your making good sales but your costs are reducing your profits. There’s a clever way to fix this.
You can hire people and pay them on a performance basis as opposed to a fixed fee. The reward must be good enough for the person to be encouraged to work and be paid for the amount of expertise they bring to your business, and the results they provide.
They could be an expert in cost savings, sales, marketing, advertising or another field of expertise. They will either make you more money or save you money.
Another way you can save money is to stop spending money on ads that don’t work. Many businesses fall into the trap of increasing they’re advertising spend on adverts that don’t convert into sales.
If you would like help implementing these strategies or setting up new automated sales funnels, to consistently and predictively grow your business and makes sales month after month. Paul Jones International can do this for you.
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