If you didn’t make all the money you wanted last year… here’s 6 reasons why — and how to improve it for the coming year.
There are basically 6 reasons marketers don’t make money… or don’t make as much money as they should. Go over these 6 reasons and take some notes. If you want some help defeating these profit-killers… call me. As a consultant, I will guide you into greater sales and profits the coming year.
1. No planning, no timing.
Too many companies and entrepreneurs wing it. They wait around for a new idea. And the new ideas don’t necessarily mesh with the “marketing plan”. What? You don’t have a marketing plan? Planning is vital for success. Planning explores what your strengths and weaknesses are. Planning looks at opportunities and threats. Planning takes advantage of upcoming “known events” (like Christmas and the 4th of July). Planning lets you know if your winning or behind schedule. Planning measures your success in sales and profits and losses and liabilities. Planning demands PARALLEL THINKING, not just linear thinking. Parallel thinking solves problems before they show up. Linear thinking solves one problem at a time… as it shows up.
2. The “Honey Principle” kills your profits.
If you’re going to make maximum profits in minimum time, you’ve got to have everyone in management on board with the right principles. Over the years, I’ve been hired to create a new, powerful marketing campaigns for a client. After I do my research, creative thinking, concept development, consulting, etc… maybe a month’s worth of work… I turn in the ad or sales letter or web site design… and the client says “Wow, that’s great. I’ll call you in the morning.” Then, the client goes home and shows his wife the marketing piece and says “Honey, how do you like it?” And the Honey says, “Ehewww, it’s too salesy”… or some such. So she kills the project.
Again, if you’re going to make the kind of profits you want… you’ve got to have everyone on board.. and everyone has to understand the marketing principles of great profits.
3. You did not serve… because “all good selling is serving.”
There is a great misconception about selling. Too many folks think that selling is pushing something no one wants to buy. But no… it does not work that way. People only buy what they truly want. A good salesman merely discovers what you want. A good business is merely a marketing machine designed to discover what you want… and deliver it to you. “Serving” that results in sales, could take many forms. Service goes the second mile. Service means giving the buyer the right kind of information so that they can confidently buy what it is you’re selling. You see, most sales don’t happen because the buyer cannot justify the purchase in their own mind. They need reasons. They need reasons to justify the purchase to their spouse, their neighbor, their boss, themselves. Frito’s potato chips “serves” because they are restocked every day. Service could be the lowest price. Service could be the best quality, but you’ve got to convince them that this is the best, longest lasting quality product.
4. You forgot to sell BENEFITS.
Far too many marketers try to sell features. But no one buys features. They buy benefits. Paint is a feature. But–Beauty is a benefit. Thick steel is a feature. But–Safety is a benefit. A big car engine is a feature. But—quick pick-up and speed and power are benefits. A small light-weight engine is a feature. But—Good gas mileage is a benefit.
You cannot leave it up to them to figure out the benefits. Tell them what benefits they are getting. Take Macy’s dep’t stores. They’ll spend big bucks in multi-page newspaper advertising…. And show photos of clothing… and the only benefit? The price. But folks don ‘t just buy based on price. What, Dear Macy’s are some of the other benefits of this or that article of clothing? Hmmm? If you want to outsell Macy’s dep’t store.. sell more benefits then they do.
5. No one BELIEVED your benefits.
Belief and credibility are powerful concepts in advertising/marketing. Even if you’re SHOUTING your benefits in your marketing… it will sound hollow and empty… unless you have product features, proof and the back story which make the benefits to be gained BELIEVABLE. Yes, you MUST proclaim the BENEFITs your product or service will deliver… but those benefits must have the right features proving the benefits will be gained.
6. You believed that old adage that
“People Will Not Read Long Winded Ads.”
If you buy that old adage… you’ll lose money. Why? Because it may be true that “people” won’t read long ads… but get this… “PROSPECTS” will read your long ads. And THAT is the only one you’re advertising to anyway. What proof? If you’re a “prospect” for a safari trip to Africa, you now have a thousand questions. You have questions about costs, lions, sleeping accommodations, travel, and more. And it turns out that PROSPECTS will read ANY AMOUNT of advertising copy as long as it’s interesting and helpful.
Remember, your future profits start with proper planning and proper timing.
Call me. And let me say THANK YOU, in advance, for giving me the opportunity to contribute to your ongoing success.