Tag Archive for: David Lee-Schneider

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How To Do Marketing – 30 Ways To Grow Your Business

It’s a simple question: What is marketing?

The answer, however, isn’t always so obvious. Most business owners I speak to have a very different idea of what marketing really is. For some, it’s simply advertising (in print or online). For others, it’s ​​Social Media, PR or even just ‘word of mouth’.

Everyone’s got a different idea of what marketing means and how to best market their business. Here’s how I put it. 

“Marketing is everything you do to GAIN and RETAIN customers.”

So, when I think of marketing, I think of it as a lot more than just running ads or posting on your Facebook​ page. If you’ve watched some of my videos or visited my marketing blog before, you would have probably already heard me talk about the 3 pillars of business success. 

1. Attract
2. Convert
3. Deliver

In this blog post, I will give you a list of marketing strategies you can do within each of these pillars to grow your business, increase sales and leverage your time better.

Attraction – How to attract more potential customers

Attracting new customers is a crucial element of any business. It’s what fuels business growth and something that many business owners struggle with. Here are ten ways that will help you attract new potential customers continuously. You should be using a combination of these things in your business.

1. Have a great website

Seems obvious, right? The truth is though that many businesses don’t utilise their website enough. In most cases, it’s an online brochure that merely talks about them, when your website can be so much more (here are some examples). There are certain elements every business website needs in order to convert visitors into leads and actual buyers. You can find a checklist of these 17 crucial elements here.

2. Be on Social Media

Again, this seems like an obvious one, however, many business owners don’t explore social media to it’s full potential. When I say be on social, I don’t just mean go create an account for your business on Facebook and Instagram. You need to be active and use these platforms to drive potential customers away from social and back to your website (where you are not competing with cat videos).

The problem with social media is that, if done well, it can be incredibly time-consuming. The answer to this problem is automation. Luckily, these days we have the tools and technology to allow for a hands-off social media strategy that allows us to post as often as we choose to on autopilot. Here’s a complete guide to automating your social media posts so you never have to worry about what to post ever again.

Social media is an incredibly powerful tool when it comes to engaging with your customers. Don’t dismiss it and use it to your advantage.

3. Run print ads

Even though I’m a digital marketer, I still believe print ads have their place. But it depends on your business, the audience you are trying to attract and what print media you have available in your particular market. The key to making advertising work is to track your success. The key to making advertising work is to track your success. Yes, I just said that twice.

Don’t just have your logo and a little blurb printed in a generic magazine or newspaper. Make sure you have a clear call-to-action (CTA) for readers to follow. Coupons work great in most cases, as they will allow you to track the success of your ads and calculate the exact return on investment.

Know your numbers:

  • How much does the ad cost you?
  • How many leads (i.e. coupons) did you receive as a result?
  • How many of these leads actually purchased?
  • What was the total revenue generated from the ad?

Example:

Say you invest in an ad that costs you $300. Your ad results in 100 enquiries, meaning your cost per lead is $3. If out of these 100 enquiries, 3 people end up buying (3% conversion rate) with a value of $200 per transaction, you generated total sales of $600. That’s a 100% return on your investment.

These numbers will, of course, vary depending on the type of business you’re in. In most cases, even if you just break even, it’s still worth advertising in the long run, as you will be building your list of potential buyers, which is the biggest asset in any business.

4. Run online ads (Google, Facebook, YouTube)

Even though online ads are very similar to print ads, I like to list them separately. The great thing about online ads is that you can be so much more specific with your targeting and only put your ad in front of people that are highly relevant. This will help you reduce ad costs and increase your conversion rates.

Say, you own a beauty salon in Sydney and decide to invest in a print ad in a local magazine. Now you are paying for the number of readers the magazine tells you they reach. However, out of everyone who reads it, only a very small fraction of readers will actually be based in your area. Out of the people in your area, only a fraction will actually be potential customers (not everyone needs a beautician). And out of those potential customers, only a fraction will actually notice your ad and even less will take you up on whatever offer you presented them with.

In comparison, a Facebook ad will allow you to run a much more targeted campaign. Going with the above example of a beauty business, you could choose to only put your ad in front of women between the ages of 30-50, who live in your local area and also have shown an interest in beauty businesses. Even though your audience is now much smaller, it is also a lot more targeted, meaning you will reduce your ad costs significantly and increase your conversion rates.

Again, print and online ads can both be great ways to attract new customers. The important thing is that you track your success and never invest in advertising that can’t be measured. Oh, and did I mention, never invest in advertising that can’t be measured? (you may want to write this one down)

5. Partner with other businesses

Business partnerships – also called joint ventures – are one of the fastest ways to grow your business and are heavily under-utilised. It’s important to understand though that not all business partnerships are worth your time. Try to only focus on businesses that will have a significant impact on your marketing.

I recently helped two of my clients join forces, who are based in the same city. One is a local café with a huge customer database of over 10,000 people; the other is a massage business that had only started out a year earlier. Most massage business owners would go around putting flyers in local cafes and other places, which is incredibly time-consuming and will get you little or no results.

But instead, we wanted to leverage the huge database of people the cafe already had, so we sat down with the owner and explained that we would like to send a complimentary $25 massage voucher to every single customer on their list. And to put the focus on them, we wanted to make it look like it’s coming from them as a gift to their customers. They look good for spoiling their customers and the owner of the massage place was putting her business right under the nose of 10,000 locals.

All we had to do was write one email that went out to 10,000 people. And to take things even further, we even made this email a part of the café’s automated email marketing. That means that the gift card did not only go out to everyone on the list at that time but every future customer will receive it, too!

As a business owner, make sure you value your time and only focus on marketing strategies that have the biggest impact on your bottom line. Business partnerships are one of the best forms of leveraging your time and resources.

6. Write a blog

Ok, this one probably sounds boring to most business owners and, at first, you may not see the value in doing it. Let me try to change the way you look at blogging.

As business owners, we have conversations with customers daily. They ask us questions about our products and services, they voice their worries, hopes and fears. They want to feel heard and we want to show them that we know our stuff. A blog allows you to do all of that at the same time and in a much more leveraged way.

Use short articles to answer your customers’ burning questions, help them to understand what you do and how it will help them in their own life or business. Even with just one good article, you can attract plenty of traffic by sharing it on social media, on other websites, in your email marketing, and even in your ads. Everywhere!

Your customers are already looking for the information they need online, so you might as well be the one giving it to them and position yourself as the expert in your industry.

I like to compare blogging to renting vs. owning real estate. You can pay for traffic each month (renting) or you can provide value on your website that people come back for (owning real estate). Every article you put on your website becomes a timeless asset you can use to generate traffic for years to come.

Tip: Hire a writer to help you come up with and write 12 quality articles to put on your website. Then share these articles on social media each month and link to them in your email marketing. You’ll see your traffic increase significantly (and improve your search engine rankings as a result)!

7. Optimise your website for search engines like Google & Bing (SEO)

Despite what many business owners think, SEO (search engine optimisation) is not dead. Search engines just have gotten a whole lot smarter!

SEO is no longer just about having a bunch of keywords on your website that your customers are searching for. These days, search engines like Google scan your website for a lot more, such as readability, quality of content, how long visitors spend on your site, which pages are shared frequently on social media, the list goes on.

So, how do you take care of all this yourself? Simple. Focus on quality content on your site that people actually want to read, watch and share. That’s why the previous point (blog posts) is so important. Engaging videos are also a great way to connect with your visitors and keep them on your site longer.

There are plenty of resources on how to do great SEO out there. If you have a WordPress website, be sure to install the Yoast SEO plugin to help you optimise each page and article for search engines.

8. Run a competition or giveaway

Giveaways are a great way to reach new potential customers, and they are a lot cheaper to run than other forms of marketing.

The idea of a giveaway is to ask people to enter their details for a chance to win a prize. This is a fast way to build a list. You want to make sure that the prize actually attracts potential customers and not those who are just in for the freebies and who were never going to buy from you.

I see many business owners make the mistake to give away an iPad or similar as a prize. That’s way too generic. Anyone who wants an iPad will enter, which is not what we want. You want to use your give-away specific to your product or service in order to attract the right kind of people.

If you are an accountant who focuses on Xero, for example, don’t give away a free Netflix subscription. Instead, consider the prize to be a free Xero Setup and Consultation to streamline your accounting (valued at $495). That way you are only attracting business owners who would actually be a good fit.

The mistake I see many business owners make ist that they run the giveaway simply for the engagement. But engagement doesn’t equal sales. The whole purpose of a marketing activity like this, especially if you invest the time to set it up properly, is to build a list of qualified leads that you can reach out to afterwards. So don’t stop at the giveaway – think about the offer you can send to all those who entered but didn’t win. This is where you really turn your giveaway into profit.

9. Run a survey or quiz

A quiz or survey is another great way to build a list fast and gain valuable insights about the needs of our customers. You’ll want to come up with a set of questions that helps you improve your product or service and identify what may be missing.

If you don’t have an audience at the moment that you can send your survey too, consider partnering with a business that shares your target market and could also benefit from the data generated. You could incentives the survey, which may help to increase responses but could also result in lower quality leads and dishonest answers from people who just took the survey for the prize.

If you would like to learn more about how to use surveys effectively, I highly recommend reading the book ASK by Ryan Levesque. You can download a free copy here.

10. Send a press release to media outlets

A press release can get you lots of free publicity in major newspapers, magazines and news websites. Once you discover this magical strategy, you’ll never want to pay for print advertising again! How much would a full-page article in a major newspaper be worth to you? Exactly? And it’s so much more powerful and memorable than any ad you paid hundreds, maybe even thousands of dollars for.

The key is to have a good story that journalists can pick up and elaborate on. Before you write a press release about a new product you launched or a sale you have going, put yourself in the shoes of a journalist. What would their readers want to read about? Tell stories that are not directly about you, but in which you or your business play a role somehow.

Which story would you rather read?

  1. Local roofing company launches new website and is open for business
  2. Local roofer helps the homeless have a roof over their head for Christmas by handing out free tents

There is no way a journalist would pick up the first headline. Because, frankly, nobody cares. The second story is something they can actually work with. Be strategic about the story you want to tell. The first rule of writing a press release is to NEVER SELL your business or products. Focus on helping the journalists to find the story they are so desperately looking for to hit their quota of articles they need to write each week.

Download my free press release template here to have your press release written in no time.

Conversion – How to turn browsers into buyers

11. Create a lead magnet

If you want to accelerate your email list growth, a lead magnet is your friend. A lead magnet is anything you can offer your subscribers for free in return for signing up. This could be:

  • a discount or value voucher
  • an ebook 
  • a checklist
  • a template or time-saver
  • a helpful video
  • a free trial
  • or anything else of value to your audience.

The key is, it needs to be highly valuable to your ideal target audience and it needs to be free. It should be a first step people can take into the transformation your offer them. 

12. Use email automation to educate and engage with your audience

To this day, email marketing has remained one of the most profitable marketing activities out there. It’s a great way to keep in touch with your audience and create sales opportunities. But let’s be honest… who has time to sit down to send out weekly newsletters anymore? 

That’s where automated email sequences come in handy. Rather than growing your list to send out the occasional email blast, think of email marketing as taking your subscribers on a journey. From the day they join your list, you can map out an entire sequence of emails, each designed with a specific purpose in mind. 

You could include emails that ask questions to learn more about your customers’ needs, showcase your testimonials, answer frequently asked questions, invite them to leave a review, make them aware of other channels you’re on, like social media, and so much more.

This is one of the best ways to leverage your time and frequently engage with potential customers to connect, educate and move them closer to the sale.

13. Use a chatbot to help people find what they are looking for faster

Chatbots have become a lot more common in recent years and they’re a fantastic tool to help you streamline customer enquiries. You can program a chatbot to directly answer specific questions, such as pricing, location, or opening hours, or to direct people to relevant pages on your website for example. 

If someone starts a chat and asks if you have appointments available this week, you could direct them to your booking page where they can check availability and book themselves in, all without the need to interrupt your day.

You can think of a chatbot much like a phone options menu, where when you call are asked to press certain numbers for different types of enquiries. Except a bot allows us to design a much more natural conversation and flow.

Some chatbot software providers I have personally used and love are Chatfuel and ManyChat. Both integrate with social media platforms like Facebook and Instagram, but there are many other tools out there that let you integrate your bot directly with your website and other platforms. 

14. Create a strong offer people can’t refuse

Sometimes, the difference between failure and success in business is the way you structure your offer. Just like McDonald’s did when they went from selling individual items to selling packaged meals. The famous line “would you like fries with that” added billions to their bottom line. 

Could you add something to your offer for added value? 

15. Run retargeting ads

Running ads online is a great way to increase brand awareness and attract new customers. However, it can be difficult to convert an audience at the first point of contact. A retargeting campaign allows us to follow those around that have expressed interest in our business before. Retargeting ads are also a great way to reactivate past clients or target specific segments of your audience.

If you have a webinar funnel, for example, you could show ads only to those who have previously watched your webinar. If you run workshops, you could target only those who have attended a previous workshop of yours. With a little creativity, the possibilities with retargeting ads are endless.

16. Find a way to help more people (when you do that, you will naturally sell more)

Seems like an obvious one, but sometimes simply by shifting our mindset we can create opportunities on a whole new level. 

I like to do a little thought experiment and ask myself what I’d do if I had to help ten times more people than I currently am. 

Could you change your business model and shift from selling 1-to-1 to 1-to-many? Could you offer a DIY option to serve more people at the same time?

Thinking about 10Xing your business can bring up some important questions that will put your business on the path of growth:

  • Where would you find 10 times more customers?
  • Would you have to change your processes to accommodate that growth?
  • Would you have to hire new people to help you?
  • What impact would you have on the world by helping more people?
  • What impact would it have on your personal life?

To get you thinking about these things, I can highly recommend the book “The 10X Rule” by Grant Cardone. It will open your mind up to new possibilities.

17. Run ‘limited time only’ offers

Creating offers that are only available for a limited time can be effective in creating a sense of urgency and temporarily increasing sales. If your business operates in retail or e-commerce, you could purchase a small batch of a new product and promote it as ‘limited time only’ to increase sales over a short period of time. 

It’s also a great way to test the market response to a new product before adding it to your regular offering. A café, for instance, could offer a new product for a limited time to measure its popularity and collect customer feedback. Then, if it performs well, make it part of their regular menu. 

18. Be easy to do business with (I had to add this one)

It always surprises me how difficult some businesses make it to do business with them. As business owners, we should be focused on reducing as much friction as possible. 

Make it easy for customers to pay using their preferred payment method. If it makes the decision for them easier, consider offering a payment plan or AfterPay. 

Make it easy for customers to get in contact with you using their preferred contact method – whether it’s by phone, text message, social media, email, or through a contact form on your website. 

Make the process easy and fun. You’ll be surprised how much impact ‘being easy’ can have on your bottom line. 

19. Get to know your customers better and understand exactly what they REALLY need, want, and do not want

Never assume that what you have to offer (no matter how awesome it is) is what your customers need and want right now. Listen to their needs. Every customer is different and comes to you for a different reason. 

Find out what their underlying motivation is for coming to you and try to meet their unique needs. Listening attentively can go a long way. And if you feel like your offer isn’t a good fit for you, don’t be afraid to let them know. The reality is, most people will respect you more for your honesty than for trying to make the sale at all costs.

Maybe they need something else first?

20. Make sure your website has all the right elements (just a page online won’t cut it)

Many business owners treat their website much like an online brochure. A little blurb about how long they’ve been in business, a contact page, some generic description about their products or services, and maybe a pricing page.

But your website can be so much more than that! Try looking at your website as your piece of real estate online. A well-designed website will:

  • Establish your business as an industry leader
  • Attract new potential customers
  • Capture leads 
  • Book appointments
  • Help sell your services or products
  • Showcase your competence 
  • Educate your audience and answer pre-sale questions
  • Act as a valuable resource 

 

Delivery – Ways to grow your business during and after the sale

21. Provide great customer service

This should be a given, however, it’s astonishing how many businesses neglect this part of their business. Providing excellent service is a great way to build repeat business and increase “word of mouth”. 

When you impress your customers, they are also much more likely to leave a positive review on Facebook or Google, which in turn will result in more organic traffic and a better reputation, helping you stand out from the competition. 

22. Ensure people only buy something they actually need

As a business owner, it’s tempting to try and sell your product or service to anyone coming your way. However, selling to the wrong person can impact your business negatively. Make sure you only sell to people who will genuinely benefit from your product or service.

Similar to the previous point, this will only strengthen relationships with your customers, increase trust, and result in more referrals.

While it may benefit you in the short term, selling to the wrong kind of customers may result in an increase in refunds, mediocre reviews and decreased customer loyalty. 

23. Offer good quality products and services (you want people to rave about it, not complain about it)

24. Overdeliver and exceed your customer’s expectations by offering something extra

25. Follow-up with your customers after the sale to see how they are going

26. Invite customers to leave positive reviews on Facebook, Google, TripAdvisor etc.

27. Add customer testimonials to your website

28. Send a thank-you note after the sale

29. Offer upsells and cross-sells

30. Consider offering a subscription/membership type product

 

This list is far from complete and you could certainly write a book about each point. But I hope that it will spark some ideas for what you can focus on in your business to grow and take it to the next level.

The biggest challenge most business owners face is finding the time to do marketing well. I can say from experience that this is only possible when automating the majority of your marketing processes. To help you do that, I have created a free step-by-step guide on how to completely automate your Social Media posts, as this is often one aspect my clients struggle with the most.

 

To your success,

 

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How To Write a Business Vision: Gain Clarity & Motivation In 3 Easy Steps

Running a business is a lot like navigating a ship. We move forward into the deep unknown, conquering small currents, big currents and all kinds of obstacles. And more often than not, we do this without a lot of guidance. We simply keep moving forward, learning as we go, in the hope that somehow we will arrive at our destination. 

The big question is, however…

Do we actually know what our destination is? Do we have a clear idea of where we are heading? And do we know when we have arrived?

When running a business, day in and day out, it’s easy to get caught up in the operation, without ever really thinking about where we want to end up. Maybe you never had a clear idea of what your destination is, taking it one day at a time. Maybe you did have a clear direction at the start but simply lost track. Or maybe your dreams and goals have changed completely and it’s time to redefine them.

When I first started out in business, I always heard business coaches and successful entrepreneurs talk about the importance of having a clear vision. It all sounded great, but nobody told me how to actually create one. It has always been this abstract thing that every business owner needs, but nobody knew how to go about it. 

It wasn’t until one of my business mentors taught me how to create a clear vision for my business that I truly understood how powerful it really is.

A clear vision is a compass in your business. It’s the guiding force that keeps you on track when you are sailing through rough waters, you’ve lost your way, or when you feel pulled in different directions. So, how do you get clear on what you want in your life and business and turn it into a compelling vision?

How to write a business vision

Here are 3 steps to creating a vision for your business that will help you gain more clarity, increase your motivation and ultimately live a happier life.

1. Define Your Values

You can’t write a great vision without first getting clear on your core values. What are core values? They are the things that you care about deeply and that are absolutely uncompromisable.

Take some time to think about everything that matters to you. Write everything down. Don’t leave anything out. You might want to ask yourself these questions.

  • What really matters to me?
  • Why am I in business?
  • What do I stand for?

Write down all the answers you can come up with. Try to aim for at least 30 answers or more. When you really can’t think of anything else, it’s time to group what you have written into 3-6 words that will represent and encapsulate all your answers. 

Here’s an example of how you can group your values

You might have gone into business because you are looking for financial freedom. But also because you wanted to travel more or spend more time with your family. In order to do that, your business needs to be able to run without you. You’ll need to be able to physically remove yourself from the business. Because ultimately, all three things mean “Freedom”, you could make that one of your core values.

Once you grouped everything that’s important to you into 3-6 words, order them by significance and write a short paragraph for each of your core values outlining what it encompasses and means to you.

You now have a set of core values that you can refer to every time you need to make a decision in your life or business to make sure it aligns with what truly matters to you. I suggest you print out your values and put them somewhere visible, so you can refer to them frequently.

2. Start Dreaming Big

Step one was about your needs. Needs that need to be fulfilled in order for you to be happy and live a balanced, purposeful life. Step two is about your wants. Make a list of everything you can think of that you want to have, do or experience in your lifetime. Do you want to skydive (I highly recommend it)? Are there any particular places you want to see? Any special people you want to meet? Any particular achievements you want to make happen?

It’s important that you don’t limit yourself when doing this exercise and simply allow your creativity to flow. Get creative. Don’t overthink. Don’t get caught up in your beliefs of why you can’t have or do a certain thing. If you dream about it, put it on paper!

Here are two questions that might help you.

  • What would I do if I knew I could not fail?
  • What would I do/have if I had all the time and money in the world?

3. Write Your Vision

Now that you are clear on your core values and allowed yourself to dream for a while, it’s finally time to craft a compelling vision for your future. A story that you can read to yourself from time to time (or daily) to remember what you are doing it all for. 

Keep in mind that this is your personal vision for your life, so make sure it speaks to you. As you learn and grow, your goals and vision might change, too. That’s perfectly fine. Take some time each year to review and rewrite your vision, add anything of importance to you and take out those things that don’t really matter anymore.  You can simply start like this:

“It’s 3 years from now and…”

Then describe in detail what you want your life to look like. Use present tense and write as if these things have already happened. Describe how it makes you feel. Feel into the moment as if you are already living this life. The clearer the picture you paint, the more powerful it will be when you read over it again in a few months. 

Have you ever tried to identify your core values or written a vision for your business before? What’s your experience? How has it helped you? Do you find the above exercises helpful? Leave me a comment below! I’d love to hear your thoughts.

 

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4 Smart (Not So Obvious) Ways To Grow Your Business

In essence, there are only three ways to grow your business. Increase the number of customers, increase the purchase frequency, and increase your average transaction value. However, there are a number of not so obvious ways to increase sales and make your business more profitable. Here are four of them. Ready? Then let’s go!

1. Automate processes to increase efficiency and reduce cost

Today, there are thousands of tools out there to help you automate repetitive business processes. Simply automating a few things can help you significantly reduce wages and free up valuable time. When looking for ways to grow our business, we often overlook areas that don’t directly contribute to your profit. Here are a few things you can automate quickly and easily that could put money back in your pocket.

  • Social Media Posts
  • Invoicing
  • Email Marketing
  • Online Advertising
  • Lead Generation
  • Sales Processes & Follow Up
  • Internal Task Management
  • Review Management

Tools like Zapier and Integromat can help you connect various services and software to make processes even more efficient. 

Some examples:

  • When you have a new lead -> automatically add a contact to a list -> then send a follow-up sequence
  • After a customer makes a purchase for the second time -> send an invitation to review on Facebook
  • When a purchase is made on your website -> automatically create an invoice in Xero

2. Launch a re-targeting ad campaign

Many business owners already use ads to attract new customers and generate new business. However, if you only run direct ads, you are missing out on a huge chunk of potential customers by ignoring this simple strategy. Re-targeting ads are a powerful tool that allows you to show specific ads to people who have already interacted with your content in the past, adding continuity to your customer experience and significantly increasing the chances of turning them into customers.

Se if you can offer them something of value in relation to certain pages or blog posts they have visited on your website. 

Example: A yoga studio might show a re-targeting ad for a free yoga pass to people in their area who have read blog posts on the benefits of yoga on their website. When people see the ad, they can enter their email address to claim the free yoga pass and automatically be subscribed to an evergreen campaign. (See next point)

3. Stop focusing on one-off promotions and develop an “Evergreen” campaign instead

The majority of business owners think of marketing and promotions in terms of one-off activities. It might look something like this:

  • January -> Promotion #1
  • February -> Promotion #2
  • March -> Promotion #3

While this might work well, it also requires you to continuously come up with new promotions, which can be exhausting and feel like you’re always running behind.

Instead, create an “evergreen” funnel that sends new leads or customers a series of pre-designed offers from the moment they join your list. Then keep adding new offers to that sequence. Over time, this strategy allows you to develop a marketing machine that continuously produces sales without ever having to worry about what your next promotion is going to be. You just need to make sure that offers in that sequence are timeless and not seasonal.

All you need is a good email automation tool, like Mailchimp or ActiveCampaign, and there are many more options available. 

4. Make Partnerships “evergreen”, too

Partnerships and joint ventures with other businesses that complement yours is a powerful strategy. You might have already partnered with another business in the past to run a one-off campaign promoting your products or services. Maybe you’ve asked the other business to hand out vouchers to all their customers.

See if you can turn this strategy into an evergreen campaign, too, like in the previous example. Look for businesses that already have an evergreen funnel and see if they are happy to plug your offer right into it, while you can do the same for them. 

Example: One of my clients owns a massage clinic, while another owns a yoga studio. I got both of them to add an email to their existing evergreen sequences promoting the other business. Now, everyone who receives a massage at the massage clinic also receives a complimentary yoga gift card, and everyone who joins the yoga studio receives a discount voucher for a massage a month later.

There you have it. Four (not so obvious) ways to grow your business over the next few months. All four are “set and forget” strategies that you only have to set up once and will benefit from forever.

 

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3 Things Your Business Needs BEFORE Spending A Single Cent On Ads

The biggest challenge most of my clients face is knowing what to focus on in their marketing. It can be incredibly overwhelming with all the different options and tools out there – social media platforms, advertising platforms (print and digital), search engines, autoresponders, tech tools, productivity tools – the list goes on and on. How do we know what’s right for us, and at the stage, we’re currently in?

The big mistake many business owners make is that they focus on lead generation BEFORE getting their conversions right, only to realise that they’re spending way too much money and time on marketing without getting the results they’re after.

In my 90-Day Marketing Transformation, we follow a clear marketing roadmap to help you focus on your marketing activities in the right order, so you can maximise results while minimising cost and effort. It’s divided into three pillars.

  • ATTRACTION
  • CONVERSION
  • AMPLIFICATION

 The order in which you focus on your marketing activities is crucial. As you will agree, it doesn’t make sense to launch an ad campaign (amplification pillar) before knowing that you can actually convert these people. It would be like increasing the amount of fuel you pour into a car that only has 2 wheels. More fuel won’t make it go any faster unless you have a working vehicle.

The Marketing Roadmap – 3 Ways To Grow Your Business in 2024

First things first. Most business owners would like to jump straight in and throw money at ads (either print or online) before having laid a solid marketing foundation. You wouldn’t start building a house before having a solid plan and foundation to build on. In the same way, you need to address your marketing activities in the right order. Here are 3 things you need to focus on BEFORE spending a single cent on advertising or other costly marketing activities.

1. Create a Lead Magnet

A lead magnet is a tool to help you build a list of potential customers. It’s something of value to your target audience that you can send them for free but in return for their name and email address. This is a crucial part of any marketing strategy and should be the very first thing to decide on, as it gives people a way to connect with your business even before they’re ready to buy. Here are some examples of lead magnets you could use in your business.

  • Free guide or ebook
  • Free video or tutorial
  • Discount code or value voucher
  • Free checklist or time-saving template
  • Free report with information that’s highly relevant to your customers

I – for example – offer a free 17-point website checklist, as that is something most of my clients struggle with. You may also find these free downloads helpful as examples for strategic lead magnets.

2. CRM & Email Automation

Once you decided on your lead magnet, the second step is to choose a CRM (Customer Relationship Management Software) and an email marketing provider that you will use to build your list. Some CRM’s already have email automation built-in. There are loads of options out there, some very basic and some with more advanced marketing automation features that you probably won’t need at the start. The important thing is to just get started.

When starting out, a free service like Mailchimp may suffice (they offer a free plan until you reach a certain number of subscribers). Here are two options that I personally recommend for small businesses and which I have used myself.

Other popular CRM systems include:

3. Map Out Your Customer Journey

Once a potential customer opted in for your free lead magnet, what are the next steps you want them to take? What information will they be looking for before they are ready to become your customer? It’s important not to treat every person as if they are ready to buy from you right now. Instead, focus on building a relationship with them first, so that when they are ready to buy your product or service, your business becomes their natural first choice.

Here’s what that customer journey looks like in one of my other businesses (a yoga studio).

  • Step 1: Claim a FREE Yoga Pass
  • Step 2: Send Introductory Offer
  • Step 3: Upgrade to 10-Class Pass or Membership
  • Step 5: Offer Workshops & Retreats

For most people, it’s too much of a stretch to go from never having tried yoga before to committing to a membership or a yoga retreat. But a free yoga pass will help them get started and move towards that goal.

This is a natural progression that eases people into their journey of becoming long-term customers, slowly moving them from free to higher-priced products. Timing is a crucial element in marketing. Make sure that the messages you send people are relevant to the stage they’re currently in. This can be automated using email automation software (see the previous point) or using a messaging bot.

The key is – always focus on educating and connecting with your customers more than you focus on selling.

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3 Simple Metrics With The Power To Transform Your Business (And How To Track Them)

Today, it’s easier than ever to collect vast amounts of data in our business. There are many low-cost POS (point of sale) systems out there with some fantastic reporting features that you can take advantage of to help you grow your business and make better management decisions.

And if you think data and metrics are boring, I want to encourage you to reconsider. Because once we know what to look for, these numbers can become very exciting!

For small business owners, every dollar counts, which is why it’s so important to track our progress and keep an eye on various metrics. Of course, there are countless metrics we can measure, some more important than others depending on the type of business you are operating.

But let’s keep it simple for now with these three metrics that have the power to completely transform your business. If you know you could do better when it comes to numbers, they will provide a great starting point.

Average Transaction Value (ATV)

The average transaction value (ATV) is pretty self-explanatory. It gives you the average of how much your customers spent per transaction on average. Simply by focusing on increasing our ATV, we can change the entire course of our business. 

How to calculate Average Transaction Value

Simply divide your total sales on any given day by the total number of transactions on the same day.

Example:
$5000 turnover / 100 Transactions = $50 ATV

We can increase our ATV through:

  • Upsells (“Would you like to make that a large?”) and
  • Cross-sells (“Would you like a camera bag to protect your new camera?”

No matter what business you’re in, there is always something extra you can offer your customers. Let’s take the above example and assume we trade for 340 days per year. If we increased our ATV by just 5% (i.e. by $2.50), our daily turnover would go from $5000 to $5250.

Doesn’t sound like much, right? Well, by the end of 340 trading days, we would have increased our turnover by $85,000. Not a bad result with a few upsells. 

What upsells, cross-sells and package deals could you offer in your business?

Customer Lifetime Value (CLV)

The Customer Lifetime Value indicates how much the average customer is worth to our business over the course of their patronage. It’s a simple metric with big implications and one that’s often overlooked by small business owners.

Knowing the lifetime value of a customer is a crucial part of understanding how much is reasonable to spend on acquiring a new customer. Measuring CLV is also a good way to determine whether your business is taking full advantage of its customer relationships.

In many, if not most cases, it costs less money to increase revenue from existing customers than it does to acquire new ones. Still, most business owners are more focused on acquisition than retention.

How to calculate Customer Lifetime Value

CLV = Average Transaction Value * Customer Frequency * Average Customer Lifespan

Example:
$50 Average Transaction Value * 1 purchase per month * 12 months average retention = $600 CLV

Your CLV will determine how much we can afford to spend on acquiring a new customer and subsequently, which marketing channels make sense for our business.

How much is a customer worth to you? How much do they spend each time? How often do they visit? And how long do they stay your customer? Improving each of these 3 variables will have a huge impact on your bottom line.

Cost of Customer Acquisition (CAC)

What does it cost you to acquire a new customer? While the importance of knowing the cost of acquiring a new customer is obvious, surprisingly a lot of business owners don’t pay as much attention to this metric as you’d expect them to. Keeping customer acquisition costs top of mind can benefit your business in numerous ways.

For starters, many companies spend more than they estimate on customer acquisition, and in many cases, they continue to invest in marketing channels that make little sense given the lifetime value of their customers.

How to calculate Cost of Customer Acquisition

CAC = Total Ad Spend / Number of New Customers

Example:
$500 Facebook Ad Spend / 50 New Customers = $10

If our Customer Lifetime Value is $600, it makes sense to spend $10 to acquire a new customer. However, if our CLV would only be $20 we might need to look for a new strategy to acquire new customers or first focus on increasing your Average Transaction Value, Purchase Frequency and Retention Rate.

What metrics have you tracked that have helped you grow your business and make better decisions in your marketing?

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10 Changes You Can Make to Improve Your Business Dramatically

Every business owner wants their business to thrive. But to Improve your business, you can’t just rely on sheer luck. There are certain fundamentals of running a business that simply can’t be skipped. Here are a few changes you can make to running your business to dramatically improve performance and push you to the top of the pack.

1. Giving Back to Improve Your Business

While this may sound a little counterintuitive, one thing you can do to improve your business is to give back. Ensure you have a life mission reflecting your need to make a difference in the lives of others. Money should not be the main motivation because it’s usually a non-monetary purpose that will help you keep going during challenging times and bring you the self-satisfaction, and happiness that you are looking for. Giving back to your local community will also increase support for your business. What are some ways in which you can give back? Can you contribute to a good cause? Donate products or services? Provide guidance to other local businesses?

2. Practice Physical Activity

This may not seem business-related, however, engaging in physical activity is one of the best ways to improve your quality of sleep, boost brain chemistry, become more creative, and clear your mind. It also helps to boost your longevity, happiness, and health. This will have a direct effect on how you think and operate your business, so you can be more productive in growing your business.

3. Self-coaching

When we think of coaching, we usually think of being coached by someone else. But becoming your own coach and maintaining a positive inner dialogue can be one of the most significant changes you’ll ever make in your life. It’s easy to slip into negative self-talk and go down the slippery slope of self-blame and self-pity. But if we want our business to be successful, then we need to develop a positive outlook on things, become our own best friend and coach ourselves through the tough times.

4. Be Willing to Do What It Takes

True success rarely comes without sacrifices. So, make it a habit to show up every day. Commit to the long haul and be willing to devote your energy and time to work toward your goals. Identify time-consuming distractions that take your focus away from your business and life. Do at least one thing every day to move you closer to your goals. Of course, in order to do so, we need to first get clear on what our goals are. Click here to learn how to write a business vision to gain clarity and motivation.

5. Love What You Do

I’ve found that the most successful business owners I work with have dedicated their lives and businesses to what they do best and love most. As a result, they create wonderful businesses that bring joy and add value to their customers. Are you creating a business that you truly love or are you merely focused on making an income? The good news is, it’s possible to do both!

6. Start a Journal

Another thing you can do to improve your business is to start journaling. Regularly write down your thoughts and ideas, so you can translate them into tangible form. Writing offers us a different perspective on our desires, our current state, our goals and helps us reflect on our mistakes. Don’t just get busy going down the wrong path. Make time to reflect and redirect your efforts to ensure you arrive at a place you actually love.

7. Improve your Business by Making Lists

Lists are amazing. They help us capture goals we want to accomplish and stay on track when we feel a little lost. Learn to work with different lists for the upcoming day, week, month, and year. Be sure to prioritise the items on your lists, so you can allocate your time and effort to what’s most important to you at any given time. When we write down our dreams and desires we turn them into goals, which significantly increases our chances of actually achieving them.

8. Learn to Listen

Listening is an important skill in business. Whether it’s our customers, partners or the people we work with, actively listening will offer us a deeper understanding to ultimately make better decisions. Regularly collect honest customer feedback to truly understand their needs and tweak your business accordingly. Learn to use their language, rather than jargon. No one wants to buy from someone they don’t understand.

9. Practice Clearing Your Mind

As business owners, we often have to wear multiple hats, which can become quite overwhelming at times. It’s important to make time to clear our minds every now and then to stay focused. Learn to make quick decisions that are conclusive to avoid cluttering your mind with unfinished business. The habit of constantly delaying our decision-making can have a huge impact on our well-being. While it may not always possible, try to make it a habit to never leave work without a clear mind. Lots of small unfinished decisions can quickly build up and prevent us from focusing our energy and headspace on the truly important ones.

10. Find Ways to Leverage Your Time

Lastly, find ways to make better use of your own time. Just because you do something better than anyone else, it doesn’t mean that it’s the best use of your time. Today, many business and marketing processes can be completely automated. In his book ‘The Four Hour Work Week‘, Tim Ferris suggests we delegate any tasks we can to free up our own time and headspace. But before delegating any tasks, we should see if it’s possible to automate them instead. Automation allows us to save vast amounts of time and significantly reduce operating costs. Automation not only helps us simplify running our business but also be more profitable.

As a marketing consultant, I help business owners to automate all of their marketing activities, so they can focus on running their business without worrying about where new customers are going to come from. If you would like to have a chat about how you can grow your business faster and more effectively, book a free strategy call with me here.

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Seven Things to Emulate from Successful Entrepreneurs

Have you ever wondered how some entrepreneurs get so much work done in a single day? It can even leave you wondering what it is you are doing wrong when apparently we all have the same 24 hours as Richard Branson or Oprah. For starters, working smarter and harder may not be the formula for success after all, which leaves you wondering what is. Here are 7 ways in which successful entrepreneurs do so well to make sure they get to the top.

1. Successful Entrepreneurs Love Their Work

A smart and successful entrepreneur is in his or her element when doing work they are passionate about. Inspiration and passion are very powerful when combined and the only way you can do excellent work is if you love what you do. Find something you are passionate about and stick with it regardless of distractions or being sidetracked.

2. Successful Entrepreneurs are Focused

Smart entrepreneurs know to stay focused and have a clear vision of what they want, which helps to actualize this vision. Visualization is quite powerful because it is not simply about seeing what you want but also about feeling them. Smart entrepreneurs feel what it is like to be at the top and not the journey it will take to reach there. They view their journey as one that embodies greatness while transporting them towards their destiny. Smart entrepreneurs connect with their visions daily through meditation, quiet walks, mantras, or vision boards, whatever works.

3. Successful Entrepreneurs Set Realistic Goals

It is great to have big goals but they can be harder to achieve. Smart and successful entrepreneurs accept their current position and start with smaller steps while maintaining focus on the ultimate vision. It is easier to achieve your goals when they are broken down into workable phases such as weekly goals or 3-month challenges. Establish daily activities that are relevant to taking you closer to your goals.

4. Successful Entrepreneurs Have a Deep Desire to Succeed

Smart entrepreneurs have the drive to achieve their goals and succeed at what they do. It is what sets successful entrepreneurs apart from the rest of the crowd. This hunger fuels them and keeps them energized to push their businesses to the top.

5. Successful Entrepreneurs Keep Learning

Successful entrepreneurs rarely stay the same as they were when they started out. It is important to invest in developing your business and yourself so you can become a successful entrepreneur. Their passion to grow, expand their businesses, and learn, is naturally in their blood. You can learn through seminars, summits, coaching, books, programs, or furthering your education. You can also learn from entrepreneurs who have gone before you on ways to develop and grow your business to help you also become a source of inspiration.

6. Successful Entrepreneurs Have Mastered Their Minds

Mastering your mind is perhaps the most important way to keep growing. You will not be able to flourish and expand until you become comfortable doing things that challenge you. Your thoughts have the power to become a reality as long as you gain some perspective on them and speak positively to yourself. Face your fears head on so you can move on to greater things.

7. Successful Entrepreneurs Network with Like-Minded People

Smart entrepreneurs choose their company very carefully and they have great support from like-minded people who offer inspiration and keep them accountable. Surrounding yourself with like-minded individuals is a surefire way to drive your business towards greater heights.

If you are looking to join a network of like-minded entrepreneurs, check out Entrepreneur Network Australia – a website that features hundreds of helpful articles with tips on how to better grow and operate your business. Be sure to join their Facebook group to join the conversation! 

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Seven Marketing Assumptions That Can Hurt Your Business

In order for your business to succeed, you need a clever marketing strategy. Unfortunately, most companies hold some marketing assumptions that can restrict their ability to promote their services and products in a cutthroat marketplace. The idea of marketing is quite obscure because marketing is the base for various methods of business promotion. Therefore, it is easy to confuse the real purpose of marketing with the concept of it. There are many reasons why companies seem to think marketing is not the right move for them. If you do not work in the profession, marketing can seem expensive and exotic, with creatives whose aim seems to be to throw money at different projects. Marketing is actually crucial to a number of strategic initiatives. If you have growth goals for your business, be it for market expansion, an extension of your product line, or diversification, then you need to have a proper understanding of what marketing can do for you.

7  Common Marketing Assumptions:

Listed below are the assumptions that can restrict the efficiency of your market plan causing you to miss out on sales opportunities.

1. Small Businesses Do Not Require a Marketing Plan

A marketing plan gives you a master plan for how you will introduce your business to the market. It helps you outline your target audience, budget, offers, tactics, channels, and messages. If you do not have a cohesive, integrated plan, you may be wasting your prospects money if not confusing them. Any business, no matter how big or small, should plan its marketing to ensure the best return on investment.

2. Running Ads is the Only Marketing Plan You Need

Even though an advertising campaign can be relevant as a marketing tactic, it is only but a tactic. Ads are just one of the various ways you can convey your message to your target audience. You should have an integrated plan spelling out different tactics and how they will work harmoniously to help you achieve, sales, lead generation, and awareness.

3. You Already Know What Your Customers Think

People similar to your current customers are your ideal prospects so you need to understand the customer completely. You can gain insight on your customers by conducting customer research courtesy of a professional, independent resource.

4. There is No Need to Market to Your Customers

You should never assume that just because you have customers they are yours for the keeping. Your customers need to be reminded constantly of why they should keep buying from you and not your competitors. Promote to your customers and your prospects too.

5. That Marketing Channel is Too Costly for You

Marketers usually make wrong assumptions about the cost of marketing avenues like direct mail or advertising. You should not cross out a channel because you assume it is too costly. Explore all your options intensively and you might discover that you can access channels that you thought were unaffordable.

6. You Do Not Need Social Media

Regardless of what you sell, the one thing you can be sure of is that your competitors, prospects, and customers are using social media actively. If you do not participate, you will be left out of conversations that could be shaping your marketplace.

7. You Need to Cut Your Marketing Budget because Sales are Down

This is one of the marketing assumptions business owners usually do. They say tough times call for tough decisions but cutting your marketing budget should not be one of these tough decisions. Effective marketing may actually help you come out of a slump with your sales so if you do not continue engaging with prospects and customers, one of your competitors will be ready to take your place.

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Nine Things Successful Business Owners (Who Are Actually Happy) Do Differently

While some business owners struggle to keep their businesses afloat, others appear to flourish even in the most difficult times.

For some, a common complaint seems to be that referrals simply aren’t enough to drum up business anymore. The interesting thing is that most of these same business owners are not trying anything different to market their businesses even though the market clearly seems to have changed. On the other hand, there are business owners who have seen exceptional business growth all through the year and not just any kind of growth either; I am talking about stellar growth.

So what are the things that set successful business owners apart? Here are nine things successful business owners do differently.

1. They Don’t Focus on the State of the Economy

Instead, they focus on how it alters buying behaviours exhibited by their customers without letting the despondency of it depress them. If your services or products are genuinely useful or helpful, then you will definitely find people who are willing to buy from you regardless of the economic conditions.

2. They Offer their Customers Something New

If you find that people aren’t buying what you’re selling, even though they used to, this could be an indication that you need to change things up. The obvious reaction would be to cut your prices, but this will devalue what you are offering. Instead, try adding value by developing new packages out of services and products you already own or updating your current offerings. You could go as far as to offer something entirely new such as training programs, new product bundles or products, an eBook, or even a workshop. Be creative and don’t be afraid to think outside the box. All successful business owners do.

3. They Don’t Just Guess

Successful business owners don’t guess. Conduct a survey and collect customer feedback to discover what they want, so you can offer products and services that are in high demand. You can use free or low-cost online surveys or provide your customers with an in-person questionnaire. Honest customer feedback will help you make better decisions in your business and reassure you when you are on the right track. Be sure to always rely on facts and numbers and stop guessing.

4. They Take Advantage of New Technology

The digital space has grown rapidly in recent years and I am sure you have used one tool or another in your own business. So why not use it to improve your online presence? The social networking tools at your disposal also make it cheaper for you to effectively market your business. Social media allows you to expand your reach and maybe even have fun in the process. However, it is crucial that you actually have a game plan. Download your free social media blueprint to put your entire content strategy on autopilot.

5. They Constantly Grow Their List

Ensure you have a list of your current and previous customers that you keep in touch with, not to mention new prospects. This will help them remember and get to know your business better. Of course, you can collect contact information in your office or over the phone and send out print materials. But to truly leverage your time and tap into your list’s full potential, you should have an offer and sign-up system on your website as part of your marketing strategy and then keep in touch using smart email automation. Why restrict yourself? You can even use both methods to supercharge your list growth.

6. They Offer Value

People expect more value for their money and time today than ever before, so focus less on selling your services and products and more on offering helpful solutions in your marketing strategy for better results. The more value you give, the more people will want to buy from you.

7. They Do Mixed Media Marketing

Develop a marketing plan and strategy that allows you to use multiple tactics or media channels to reach your target audience instead of focusing on just one. Ask yourself where your ideal customers hang out and how to best engage with them on their preferred platform. Then develop a strategy to direct them onto your own list.

8. They Never Stop Learning

Times are changing and you need to stay updated on what is new and working currently but you cannot do this if you are always busy in your business. Successful business owners understand the importance of taking time out of their business to learn and grow. Network, take part in seminars or read new material to meet new people and learn new things about the industry. Check out this list of 6 TED Talks every business owner must watch.

9. They Don’t Do It All Themselves

And finally, you probably don’t have time to learn about everything it takes to run, grow, and promote your business, particularly online. You may end up hitting a wall whereby your business will cease to grow; you will burn out, and feel exhausted. Hire an employee or virtual assistant to help you with repetitive tasks. Engage a professional marketing consultant or digital agency to help you develop and implement a sound marketing strategy that will save you time and headspace. If you’d like to have a chat about how to best grow your business, you can book a free strategy call here.

There you have it. Nine things that will not only help you become more successful in your business but happier as well.

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Five Things That Your Business is Overspending on (and How to Fix It)

Every coin you waste in your business is precious and can be directed towards improving services and products, or reaching more customers. Most companies face the problem of funneling their money towards irrelevant expenses and often it is because they do not take time to reassess their way of “doing things”. If you keep doing the same things over time simply because you have been doing them this way, you could be wasting a significant amount of money. Here are some of the areas in which businesses spend too much money and how you can fix it.

1.  Hiring More Employees than Necessary

Today’s era is one of independent contractors and virtual assistants, so businesses do not need to hire salaried full-time staff to deal with daily tasks. Businesses can outsource these duties to freelancers who can work on a per-project or hourly basis. Your business needs to monitor their salaried workers constantly to make sure their positions genuinely require a full-time employee and only add new positions when the workload calls for it.

2. Indirect Marketing Campaigns

Data analytics have come to play a significant role in everything that businesses do and any company that fails to measure its marketing efforts can find itself left behind. Before purchasing paid advertising or posting on social media, ensure you monitor how your efforts are faring on first. The results of your current email blast could affect your decisions on future marketing campaigns for a long time so it may be worth it. Each dollar you spend could bring in more money for your business.

3. Failing to Monitor Business Expenses

Wining and dining your prospects or clients can be essential for a growing business but you should watch out for those fancy eateries (yep, I know). You could be spending more money than you need to in this area if you do not pay close attention to things. There are various expense- monitoring apps available to help you keep track of your business expenditure. If you are using professional accounting software, like Xero, you can also pull reports at different intervals to show you where exactly your money goes.

4. Is Your Business Overpaying?

If you do not hone your negotiation skills, you may end up spending more money than is required on equipment, supplies, office space leases, manufacturing, and other resources you use to run your business. Learn how to negotiate with your vendors so that you can save money which can be directed toward business growth. You probably spend a lot of time negotiating with your clients to make sure you get the best prices for your services or products, so why not use the same skills on your budget expenditure? Use the 80/20 rule to identify which 20% of your business expenses have the biggest impact on your overall expenditure.

5. New Technology

Businesses usually feel that they should invest in the most up-to-date technology, be it operation management software or devices to help them utilize this software. In addition to spending too much money on software and devices, you could also be investing in building a better marketing foundation and building systems that will allow you to scale your business.

As an independent marketing consultant, I help business owners to design and implement cost-effective marketing strategies that more than pay for themselves. If you are looking for a way to scale your business reliably, using proven strategies, I look forward to having a chat.

To your success,

 

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