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How to Get Clients in a Recession When No One is Buying 

RECESSION

 

 
 
Tags:  Make Money  Profit During Recession  Online Marketing 
Views:  49
Published:  January 30, 2012
 
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Slide 1: ==== ==== Fill Your Bank Account During A Recession: Click Below www.ElectrifyYourDreams.com ==== ==== Successful Marketing in a Recession Marketing in a recession really isn't that different. Maybe I should say SUCCESSFUL marketing in a recession isn't that different. As a business coach who's worked with lots of struggling businesses to help them not just survive this recession, but to thrive because of it, most business owners have started into this recession with the wrong belief about it. That has dominated how they react, which has actually caused them to fail faster. Just imagine... the recession didn't cause your problem... you... and every other consumer and business owner CAUSED this recession. Therefore, as long as you keep doing what you've always done you'll keep getting the same results, more recession, and loss of business. Lose Market Share or Gain Market Share During a Recession... That's a CHOICE During a recession most businesses actually lose market share. As your competition loses market share shouldn't you be gaining more of that market? Or do you keep playing the game just like the competition while losing market share? See my point? Let's play with some numbers to see what I mean. Design Your Marketing Outcome With the Marketing Formula You can actually DESIGN the number of clients you get weekly, or monthly, if you use the marketing formula. Or you can just let it happen as most business owners do. I call what they do, "Hope and Pray Marketing." They only hope and pray they'll get clients. Using the marketing formula we can design how many we get every week. Let's start with "the marketing formula". The "marketing formula" says that the number of leads, calls, sales we get equals the number of people who see our marketing message times the conversion rate of that marketing message. Number Leads = (number who see marketing message) X (conversion rate of marketing message)
Slide 2: Example: Let's say that you've been showing your marketing message to 100 people a week, and that your marketing message usually convinces 10% of those you touch with it to call you. That would be 10 calls Before the recession10 leads = 100 x 10% Always assume that the response rate, 10% in this case, is directly related to how good your marketing message connects with your target market. So, small businesses frequently get only 1 out of 1,000 responding, or 0.1%. But back to my original point using the formula above. So, what typically happens during a recession? Your buyer frequently tightens his belt, slows down on his spending. That's somewhat normal for a recession. To be expected. Many business owners see their business suddenly cut in half. Sometimes, half the customers isn't enough to pay the overhead. So, in pain, they start looking for places to cut back... and that's frequently marketing. Cutting back is usually the WRONG thing to do in a recession. If your marketing generates $10 for every $1 spent on marketing, then cutting back that $1 will ultimately cut your total revenue by $10, when you should be generating even more income. Let's follow through with our original thoughts about the marketing formula. We said that, during a recession, it's normal to see your business cut in half. It looks like this with the marketing formula. We started with a 10% response rate, and now have a 5% response rate (1/2 of where we started. Our market has been reluctant to spend money as freely, but there are still people buying.) During the recession... 1/2 response rate5 leads = 100 x 5% By now you may actually see the solution. However, if you are caught in this in real life, we have a built-in FEAR MODE which tends to make us "cut back on marketing" to save the cost of marketing. WRONG thing to do. But that's how most business owners respond... and die. The solution is quite simple. To get 10 leads just like we did before, we have two choices, the first is "turn the marketing up".not down. During the Recession... After fixing it10 leads = 200 x 5% By marketing to twice as many, even with the reduced marketing response, we maintained the same number of clients as before.
Slide 3: There is ONLY one time when this won't work. If your marketing message is not working; if the cost of your marketing isn't generating more dollars in sales than it costs. If that IS your problem, then fix the marketing message. There is no other option. In fact, if you are getting a very low response to your marketing, you have the opportunity to increase your marketing results by possibly 10 to 100 times by improving your marketing message. Marketing Response Rates... 0.1%, 1%, or 10%... Where Does Your Come In? Some business owners get 0.1% or so from their marketing. The national average for direct marketing runs in the 1% to 2% area, but the best marketers see 5% to 10% or even better. In other words, going from 0.1% to 1% is 10 times more business, more clients, and more dollars. Going to 10% is 100 times more clients and dollars. So, what response rate do you get, and is the problem your marketing message, or are you holding back on your marketing? If your marketing is producing several times what you spend, then let me challenge you with a thought. How many clients do you want to buy? The difference between successful businesses, recession or otherwise, is that the struggling businesses look at "the up front cost of marketing", while the successful companies look at "the cost to acquire a customer", and the investment needed to buy that customer. If you are worried about spending $1,000 for marketing, it's very likely you'll not spend it. However, if every $1 you spend generates a $10 customer, it's easy to go buy 1,000 $10 customers by spending $1,000. In that case $1,000 generates $10,000. No worries there about spending the up front money. Let's look at what typically happens. Let's say that you've got $5,000 in overhead monthly. During this recession you are getting only 4 clients worth $1,000 each. At the end of the month you have $4,000 in hand, and $5,000 in expenses. Most businesses will go into panic mode and look to see what they should cut back. But let's say that they are spending $100 in marketing to generate that $1,000 customer. For every $100 they save, they'll lose $1,000 off the bottom line. Certainly not the right thing to do... but it is how most business handle this situation. I do several marketing workshops a month, and always ask this question, "What would you do the first month that your sales won't pay your overhead?" And almost everyone answers, "They'd cut marketing." But what should they be doing?
Slide 4: If $5,000 is needed to pay the bills, and if you want to bring home another $10,000 a month on top of that you'll need to generate $15,000 a month in profits. If $100 generates $1,000, then we'll need to spend $1,500 on marketing, and we'll get $15,000. Simple. But most miss this simple fix. And IF their marketing isn't working that well, then we have to fix the marketing message. Some people look only at the cost of marketing, not on how many clients they could buy at $X each. In fact, I see them all of the time say, "I've got only $X to spend on marketing" so they spend that much and stop, even if they need more income. Let's go back to something I said earlier. A Recession Is an Ideal Time to Increase Business, and Increase Market Share Most businesses LOSE market share during a recession. As they lose 1/2 or more of their market share, shouldn't you be picking that up? During a recession you have the opportunity to become the top most dominant player. But only if you decide to not let your drop in marketing response rates be your only reality. If you increase your marketing you'll increase the number of people wanting your products or services, and increasing your market share while everyone else loses out. ================================================ Do you want to learn more about how to increase your business nearly overnight in any economy? Recession or not? In fact, shouldn't you be growing your business and dominate your market BECAUSE of the recession? I have just completed my brand new "Marketing Formula to Generate an Extra $10K Per Month" Get your ebook on how to add another $10K a month to your business with the marketing formula from Alan, a top Marketing Coach. Alan Boyer coaches small business owners who want at least another $100K within the next few months.....The reports have been "5-10 times more clients in just a few weeks, and still growing. http://www.100k-small-business-coach.com
Slide 5: Article Source: http://EzineArticles.com/?expert=Alan_Boyer ==== ==== Fill Your Bank Account During A Recession: Click Below www.ElectrifyYourDreams.com ==== ====

   
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