This article presents seven potent marketing strategies that are often overlooked by small business owners when they are crafting their marketing plans. Are you guilty of missing out on these tactics too?
The most effective way to outshine your competitors is to highlight a unique advantage that your customers can't get elsewhere. This is often referred to as your Unique Selling Proposition (USP). If you don't already have a unique advantage, it's time to create one. Add a new feature to your business that you're not currently offering. For instance, a network marketer managed to double her sign-up rate by offering free sales leads to her new distributors for their first four months.
Gather and utilize testimonials. Testimonials from satisfied customers act like referrals, providing prospective customers with evidence that your product or service has delivered results for others like them. Tests have shown that messages with testimonials can increase sales by as much as 65% or more. Don't wait for customers to volunteer a testimonial. Instead, follow up with them shortly after a transaction and ask for their feedback. With their permission, you can use their positive comments in your promotions.
Upselling is a tried-and-tested technique to increase revenue at the point of sale. Customers are most receptive to an attractive offer from you when they're already in the process of paying you. Offer them the option to upgrade to a superior product or service at a special price, or the option to add a related item to their purchase for a special combination price. An upselling offer can boost your average sale by 30% or more without incurring any additional advertising costs.
Showcase the affordability of your product or service by breaking down the price to its smallest time increment. For example, "$325 per year" might deter many customers, but "Enjoy all of this for less than 90 cents a day" highlights the low cost.
A feature is what something is, while a benefit is what it does. For instance, my favorite donuts now come in a resealable box - that's a feature. The fact that the donuts stay fresh for a week after I first open the box is the benefit. Always promote the benefits of your product or service before you promote its features. People don't buy something for its features; they buy it for the benefits those features provide.
Always include a headline with your ad, sales letter, or webpage. Incorporate your biggest benefit in the headline to capture your prospect's attention. If you don't, many potential customers won't read your promotional material. When creating a new promotion, test different headlines to find the most effective one before you test anything else. Once you've found a headline that attracts the most readers, you can then test to find the most motivating copy for them to read.
Never advertise without including an offer. An irresistible offer is the primary reason why people make a purchase. To significantly increase the response to your advertising, significantly improve your offer. Many small businesses advertise without including an offer, which is a costly mistake as it doesn't provide a reason for prospective customers to respond. The best way to get a big response from your advertising is to make an offer your prospects can't refuse.
Are you utilizing all seven of these strategies in your promotions? If not, it's time to revise your marketing plan to include those you've overlooked. You'll immediately see a significant increase in your sales and profits without increasing your expenses.
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