5 Tips For Success
On a recent visit to Wisconsin there was a local business expo where an old friend, former neighbor, and now marketing guru Rob Grede discussed marketing in the current economy. My thoughts immediately turned to ways I could apply his suggestions to my voiceover business as an entrepreneur. He said increasing your marketing presence poises your business to increase sales as the economy improves.
Also while times are a bit slower, your prospects might have a bit more time to meet or speak on the phone with you. Visibility is key!
Here’s another interesting statistic. Twenty-five percent of companies that advertise during a recession grow three years after the recession, and also increase their market share 2 ½ times.
Here are Rob Grede’s five ways to fuel growth.
- Sell more of the same “stuff” to the same people. Offer a sales incentive, increase perks, and take advantage of mass media and social networking.
- Sell more of the same stuff to different people. One must “hunt” for new business and continue to advertise, picking up new clients. Remember that new entrants into the marketplace offering what you offer at a cheaper price may not be able to sustain those low prices. After two years, many will raise their prices, lose market share, or go out of business.
- Sell different stuff to the same people. Rob call this “farming” or suggestive selling. It’s easier to have one customer that spends $100 with you than to have 100 customers that spend $1. Keeping customers coming back or trusting you enough to try new things you can do has to do with satisfaction. Let your clients know what you can do, and ask for their business. Grede noted, “The number #1 reason you may lose a customer is not price. It’s because 68% of them believe you don’t care.”
- Sell new stuff. Stay in touch with the marketplace. Grede said, “Remember, your competition is trying to make you obsolete”. Continue to innovate!
- Acquire new business. Now this involves mergers and acquisitions, and the formations of partnerships. Since, as voiceover folks, we are mostly single-person companies, there’s a lot to be said for having your team of “peeps” Seek agents, CPA’s , attorneys, web designers, voiceover coaches and others that share a similar culture and fit.
I’m ready to do some data mining. It’s going to get a little quiet between Thanksgiving and News Years.
Learn more about Robert Grede’s marketing tactics at www.thegredecompany.com