SPEED2PROFITS BLOG

The 7th Buying Fundamental Every Business Must Understand

As I shared in the last 2 posts, today’s buyers are more sophisticated than ever. Therefore, to win the game of attracting and converting clients, customers or patients you must provide them with an experience that includes 7 key fundamentals. Fail to do this and you will never build the business you deserve. I covered the first 6 so far …

Fundamental #1 – Everyone wants the “best deal.”

Fundamental #2 – Always market to the negative.

Fundamental #3 – Prospects buy based on emotion.

Fundamental #4 – Make your business “unique.”

Fundamental #5 – Prospects buy what they want… not what they need.

Fundamental #6 – Be able to communicate your uniqueness and extraordinary value.

The 7th critical fundamental to understand is…

Fundamental #7 – Create “extraordinary value.”

Have you ever shopped for something and found yourself looking for the lowest price? Ever wonder why? As we stated earlier, all human beings, no matter who we are or what we do, we all want the best deal. But what is the “best deal?” Is it really the lowest price?

There’s that old saying that you get what you pay for. Would I shock you if I told you that your prospects could care less about price? They shop price because they’re forced to. Let me explain. What prospects really want is the best “value” for the price they pay. They’re more than willing to pay double the price if they perceive that you’re giving them four times the value. Now they know they’re getting the “best deal.”

So then why does price seem to matter so often? (more…)

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The 7 Buying Fundamentals continued

As I shared last post, today’s buyers are more sophisticated than ever. Therefore, to win the game of attracting and converting clients, customers or patients you must provide them with an experience that includes 7 key fundamentals. Fail to do this and you will never build the business you deserve. I covered the first 3…

Fundamental #1 – Everyone wants the “best deal.”

Fundamental #2 – Always market to the negative.

Fundamental #3 – Prospects buy based on emotion.

Let’s continue…

Fundamental #4 – Make your business “unique.”

One of the biggest problems business owners face when trying to make that emotional connection is that different prospects have different hot buttons. That’s why it’s critical that you separate your business from your competition. You must find a way to stand out from the crowd. The best way to do this is to create a “niche” market for your business. That means your business has to stop trying to be everything to everyone.

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The 7 Buying Fundamentals That Every Business Must Understand

Today’s buyers are more sophisticated than ever. Therefore, to win the game of attracting and converting clients, customers or patients you must provide them with an experience that includes 7 key fundamentals. Fail to do this and you will never build the business you deserve.

They’re based on fundamental human nature… still applicable today as they were 1000 years ago.

Fundamental #1 – Everyone wants the “best deal.”

Your prospects, no matter who they are or what it is they’re buying, always want the best deal. That doesn’t mean the lowest price… it means the most value for the price they pay. They will gladly pay twice the price… as long as they perceive they’re receiving four times the value when they compare it to the price.

(more…)

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The Truth About Selling Real Value…

All small and medium size business owners, at some point in time, are faced with the pressure to offer lower prices or greater discounts. This is especially true for those of you who sell, or want to sell at the higher end of your market. There are many schools of thought about dealing with this common sales objection, but the general consensus is to steer the prospect away from the conversation of price and toward a discussion of VALUE.

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The Power of EXPERT PERCEPTION Positioning

Who would you go see if faced with a life threatening medical diagnosis? A general practitioner or a specialist? You’d be drawn like a magnet to the expert, wouldn’t you? Well, this same decision making process works for selecting any business or professional your prospects trust with their business. The PERCEIVED expert has a massive competitive advantage in any marketplace.

So, are you the recognized expert in your niche and community? Do your customers and target prospect agree? Regardless of the business you are in – even in a business that is considered a commodity – there is usually a way to gain the EXPERT ADVANTAGE. (more…)

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How to Slash Your Marketing Spend and Increase Results Without Spending More Money [Part three]

3 Ways Profit Maximization Can Turbo-Charge Your Sales Growth

Marketing Spend Slasher #3 – Self Fund Your Marketing

What do I mean by Self Fund? By focusing your efforts on optimizing your profits, you can reinvest those “found” profits into advertising or other marketing efforts. Dr. D “saved” about $1,500 a month (see part two). So he could now reinvest “found money” into another form of marketing…PPC, SEO, direct mail, bigger advertisement, a tele sales effort etc. The new found profits literally pay for your “risky” marketing. It is like going to Vegas, winning big, putting your original money in your pocket and then gambling with the winnings…with no real downside whatsoever. (more…)

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How to Slash Your Marketing Spend and Increase Results Without Spending More Money [Part two]

3 Ways Profit Maximization Can Turbo-Charge Your Sales Growth

Marketing Spend Slasher #2 – Reduce Client Acquisition Cost

In coaching hundreds of companies, only a handful knew clearly what their cost per customer acquisition was…that is, the total marketing spend divided by the number of customers.

Why is this so important? Because, it enables you to significantly reduce your marketing spend, by first reallocating it towards lower cost alternatives.

  • Should you increase or decrease your Pay Per Click budget or pay to get higher in the rankings?…or drop back into a lower position?
  • Is SEO really paying off?
  • How about your tradeshow spend or
  • Display advertising?
  • Or what about the sales rep you hired?

All of these will result in different costs to get a customer.

REAL WORLD EXAMPLE:

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How to Slash Your Marketing Spend and Increase Results Without Spending More Money [Part one]

Leveraging Profit Maximization In Order to Accelerate Your Sales Growth

At a live Internet Marketing Event I conducted a 90 minute workshop for the 600 attendees… from around the world. The audience survey results, over $32 Million in added profit by optimizing their current customer and prospect profits…without spending any money!!!

Now $32M should be reason enough to want to focus on optimizing profits (95% of the attendees said they uncovered at least $10,000!). Yet most businesses choose to want to focus on getting more customers… even though most have way more upside from optimizing their current business.

Therefore, I thought I would share 3 Keys of Profit Maximization over the next few blog posts.

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The “Problem” With 97% of Referral Systems

We have all heard that Referral Marketing represents one of the lowest cost and highest-leverage strategies on the planet. Why? The answer is simple. The cost to obtain a new customer from outside marketing is 500% to 1000% more expensive than a referral customer. Business owners can increase profits by 10% to 30% with an effective referral program.

But There is a BIG Problem

Unfortunately, this powerful business building strategy has been nearly put to death by many “business trainers” that touted its merits without teaching the HOW. As a result, business owners routinely make 15 common, totally avoidable, mistakes that keep them from having a continuous stream of high quality referral customers every month.

The Key is to “Activate” Your Customers

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The Buyer Decision Drivers Part 2

In my last post I shared the first 4 of the 7 buyer decision drivers.

Here are the final 3.

BUYER DECISION DRIVER #5 – Create “extraordinary value.”

Have you ever shopped for something and found yourself looking for the lowest price? Ever wonder why? As we stated earlier, all human beings, no matter who we are or what we do, we all want the best deal. But what is the “best deal?” Is it really the lowest price?

There’s that old saying that you get what you pay for. Would I shock you if I told you that your prospects could care less about price? They shop price because they’re forced to. Let me explain. What prospects really want is the best “value” for the price they pay. They’re more than willing to pay double the price if they perceive that you’re giving them four times the value. Now they know they’re getting the “best deal.”

So then why does price seem to matter so often? It’s because so few businesses are actually “unique.” They all look the same… and they all say the exact same things. They say things like “we’re the best, we have the lowest prices, the highest quality, the best selection, the most convenient hours and locations and we’ve been in business since 1431 B.C.”

We call these platitudes, and they mean absolutely nothing to your prospects. That’s because everything just mentioned was about the business, and your prospects don’t care one bit about your business. All prospects care about is themselves. They want to know how they will benefit from what you sell. How will their life improve if they purchase your product or service? (more…)

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The Buyer Decision Drivers Part 1

There are 7 buyer decision drivers every business must understand to become successful today. Fail to do these and you will never build the business of your dreams.

It’s critical that you commit these to memory. They’re based on fundamental human nature… and will be as applicable 100 years from now as they were 100 years ago.

BUYER DECISION DRIVER #1 – Everyone wants the “best deal.”

Your prospects, no matter who they are or what it is they’re buying, always want the best deal. That doesn’t mean the lowest price… it means the most value for the price they pay. They will gladly pay twice the price… as long as they perceive they’re receiving four times the value when they compare it to the price.

The key words here of course are “perceived value.” So what exactly do prospects value? They value finding the solution to their biggest problem, frustration, fear or concern. And that brings us to…

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Scientifically Get More Leads and Customers

Ongoing lead flow and a constant stream of new customers are critically important to the ongoing profitability of any business. In this issue, I want to share one simple strategy for getting more leads and turning them into customers – lead optimization.

As I’ve stressed in many of my messages to you, continual marketing optimization in all areas of your business will boost profits, often without spending additional money. To get more leads, better qualified leads and convert them into more customers, you must establish and monitor key lead metrics. Only by monitoring can you continually optimize your lead development activities.

Here are the lead metrics to measure:

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Taking a “Success Inventory” To Discover Hidden Profits in Your Business

Today I am going to share with you the first step in dramatically improving the results of everything you ALREADY do well – marketing campaigns, sales processes, lead generation techniques, upsells, referrals, collections, inventory management and so on.

I am talking about adding 5%, 10% or even 20% improvements to things like increasing your sales conversion rates by 20% or shaving 10% off the time it takes to perform key tasks.

Perhaps the best part is that none of these incredible added streams of profit will cost you a dime to implement, and you will meet little or no resistance from your staff, and only praise from your customers.

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The Power of Packages

How To Turbo-Charge Conversion and Skyrocket Profits by Finding “Sweet” Spots in Your Product or Service Offerings.

We have been having enormous success with teaching clients how to use packages – that is a combination of products or services that create greater perceived value and allows you to reach different price points in the market place.

Here is one of the three ways we teach on how to use The Power of Packages to instantly increase profits without spending a dime.

Tony Robbins Gets it – To the Tune of $1.7M Per Event

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