marketing Archives - Page 3 of 3 - Dr. Ivan Misner®

Results Talk. Everything Else is an Excuse.

I had a conversation with a franchisee a few weeks ago and I’ve been thinking about it for some time since.  We were talking about a marketing strategy that has proven to be very successful for many franchises within his company for many years.

When I asked the franchisee why he wasn’t participating in the program he said, “I don’t want to do that.  I don’t think it works.”  I said, “Really?  The top three franchisees around the country use it– just what about the technique is it that you don’t think works?”  He said, “I think the technique reduces client retention.”  I pointed out that the retention of the top three franchisees mentioned above was HIGHER than the client retention of his franchise.   He said “Yeah, but I just don’t think it would work in my area.”

I still can’t believe he really said that.  This is an intelligent individual who gave me one of the lamest answers I’ve ever heard for not doing something that works.

The bottom line is that the marketing strategy in question is in fact, hard work.  I believe that he just didn’t want to do all the hard work necessary to implement the strategy and he rationalized his position with half-baked excuses.

When a strategy works in many places and yields big results then all the excuses in the world for not implementing the strategy are just that–excuses!

Have you ever had a conversaton with someone like this?  If so, I’d love to hear about it and find out out how you handled it.

How Soon Should You Expect Profitability from a Relationship?

Over the past couple of weeks, I’ve written a few blogs on the VCP Process® of networking and, since I’ve already covered visibility and credibility in detail, today I’m going to tell you what you need to know about profitability, the third and final phase of the VCP Process.

The mature relationship, whether business or personal, can be defined in terms of its profitability. Is it mutually rewarding? Do both partners gain satisfaction from it? Does it maintain itself by providing benefits to both? If it doesn’t profit both partners to keep it going, it probably will not endure.

The best piece of advice I can give you in regard to when to expect to get to profitability is to be patient. The time it takes to pass through the phases of a developing relationship is highly variable.  It’s not always easy to determine when profitability has been achieved: A week? A month? A year? In a time of urgent need, you and a client may proceed from visibility to credibility overnight. The same is true of profitability; it may happen quickly or it may take years, but most likely it will be somewhere in between. It will depend on the frequency and quality of the contacts and especially on the desire of both parties to move the relationship forward.

Shortsightedness can impede the full development of the relationship. Perhaps you’re a customer who has done business with a certain vendor off and on for several months, but to save pennies you keep hunting around for the lowest price, ignoring the value this vendor provides in terms of service, hours, goodwill and reliability. Are you really profiting from the relationship, or are you stunting its growth?  Perhaps if you gave this vendor all your business, you could work out terms that would benefit both of you.  Profitability is not found by bargain hunting. It must be cultivated. And, like farming, it takes patience.

Visibility and credibility are important in the relationship-building stages of the referral-marketing process.  But when you have established an effective referral generation system, you will have entered the profitability stage of your relationships with many people–the people who send you referrals and the customers you recruit as a result. It’s an essential part of successful relationship marketing and networking.

Why Word of Mouth?

One of the most important things I’ve learned over the years is that the secret to success–without a little bit of hard work–is still a secret!  Word of mouth marketing is a solid foundation for building any successful enterprise and, like anything else that brings great rewards, it takes time, effort, and dedication (a.k.a.–a “little bit of hard work” ;-)).

Developing a word-of-mouth marketing program is an effective, potentially lucrative way of generating more business.  The reason I said it takes “a little bit” of hard work is because it’s not even hard work when you consider the alternatives:

1.  Increase your advertising budget

2.  Develop an effective public-relations campaign

3.  Pick up the phone and start cold-calling

The first two alternatives can be ridiculously expensive and the third is time-consuming and frustrating.  However, a structured word-of-mouth marketing program is also personally empowering: it’s one of the few things that you, or someone who works for you, can do (other than cold-calling) that directly affects your success.  Why wait for people to walk in your door?  Why sit idly by, hoping that your existing clients or customers will refer you to others?  With a structured word-of-mouth program you don’t have to wait for the results of your last PR campaign to kick in.

A word-of-mouth program will give you control and allow you to take ownership for the business development of your company.  Such a program has worked for thousands of people in all types of businesses and will work for you as well.

Learn Teleseminar Secrets from Alex Mandossian

I’ve mentioned my good friend Alex Mandossian in a couple of previous blogs. But in case you don’t yet know who Alex is, he is one of the world’s most respected experts on marketing, and his knowledge, background and track record of unbelievable results are truly amazing.

I’m going to be hosting a free call with Alex on Tuesday, Dec. 1  (4 p.m. Pacific / 6 p.m. Central / 7 p.m. Eastern), which will be a preview for Alex’s Teleseminar Secrets Training Series. I encourage you to call in if you want to learn more about how to boost sales and profits without spending a penny more on advertising.

Alex has generated more than $233 million in sales for his partners and clients via “electronic marketing” such as teleseminars, radio, TV and the internet . . . Listening to a free call with advice from him is, in my opinion, a no-brainer.  It’s an amazing opportunity to learn from someone who can seriously help you grow your business and prosper regardless of economic fluctuations.

CLICK HERE TO FIND OUT MORE AND SIGN UP FOR THE CALL.

Related Posts Plugin for WordPress, Blogger...
1 2 3
   Follow Me

Get every new post delivered to your inbox