1) A customer database. If you do not have a database of your past and present clients – you are throwing your money out the door each and every month you are in business. You MUST collect names, address, phone, fax, email, purchase history of every person who buys from you, expresses interest in what you do, refers people to you, and used to buy from you but doesn’t anymore.
Any time you want to increase your cash flow you can contact those people and have cash in your hands within days – even hours.
I use ACT – but Excel or any spreadsheet will do. Collect names, address, phone, etc – everything you have on them. If you have names on paper – hire someone to convert them or do it yourself while watching TV.
2) The number 2 thing you need is a list of other businesses that sell to your same market. First, you need to know who your perfect client is (work, income, hobbies, live, clubs, etc). Then you need to find out what else and who else they buy from.
Contact those business owners with a proposal. If they recommend you to their clients and you recommend them to yours – you would like to split the profits that are generated.
Make the offer special – one they cannot get anywhere else (special price, guarantee, bonuses, payment terms, education, etc). Explain to them that this was so outstanding that you knew they would want to know about it.
NOTE: make sure the products you are recommending are top quality and the company behind the products delivers and guarantees.
I know people that do this every other week to their clients – the clients love it – and so does the business owners bank account.
3) You must have a computer and a website! In this day and age – consider it a necessity for marketing a business. The internet can make your job much easier and will help you increase your cash flow. But, this can be intimidating and very costly if you over complicate things. People want help, solutions and answers to their deepest needs and wants.
And that doesn’t need to cost you much. A web site name – $8.95 An inexpensive place to put your web site – $5.95 a month and inexpensive web design for $500 or less.
4) People want to buy packages, bundles, unique things. They don’t want to buy a product – they want something special. If you don’t have enough products and services to bundle together – buy complimentary products and bundle them; books, CD’s, special services. Make holiday packages – back to school specials – you name it you can bundle it. When you make a package unique – you eliminate competition because no one else has a package like yours.
Send out a heartfelt letter to go with it – and watch what happens. If you put your personality into that letter – your customers will love you for it and will respond in kind.
5) The message you send to your clients is critical. It is the make or break point on all your marketing success and failure. Yet less than 5% of companies I talk to put much thought into this. They copy what their competitors are doing and word it like their competitors word it. Wrong, wrong, wrong.
When you master the power of words in communicating with your customers – they will actually look forward to hearing and seeing your next promotion. They will tell their friends about the awesome stuff you are doing. They will get personal with you and feel like you are a good friend. And they will buy almost anything you ask them to buy.
One of the best ways is to imagine your perfect client as a best friend. In your mind, picture sitting down with them next to a fire, over a glass of wine or a cup of tea. Imagine them absolutely fascinated with what your company is doing and what new products and services you have to offer them. What would you say to them to get their attention? To hold their interest? To get them passionate about buying more from you? What could you say to them that would get them to take action and give you their credit card right then and there while sitting at the fire?
Now put that on paper! Even easier – record the “chat” you would have with your friend. Have someone transcribe that chat, turn it into a personal letter – and start sending it out to your clients.
The personal feel to it will be a welcome relief compared to all the corporate speak junk they see from your competitors – and all other companies they buy from in an average year.
You will soon see how cash flow can be a problem you USED to have – yet need never worry about again. If you ever need help getting started, the Marketing Results Mentor program may be exactly what you need.