Have you ever asked others in your field what the response rates are to their advertising dollar?
If so, I can guess a common answer.
How about, “I have no idea, most of my business comes from referrals and recommendations”? (More on that later).
Now, if you’ve been listening carefully to what I’ve said up to now, you realise what’s most important to your success is:
The problem? We’re too often taught the wrong things about business, in the wrong order!
Various courses teach rules and regulations, but they fail to help people attract the right clients/customers/patients. Most sales training programs focus on training and staffing, but not on effective marketing. “Getting your name out there” messages identify businesses, but they don’t call for client/customer/patient to respond to you. “Professional” ads enhance “image”, while failing to make people respond. Cold marketing is taught and suffers miserable failures time and time again.
Is it any wonder that 75% of new businesses and salespeople fail within five years? Is it any mystery why over 95% of all small business owners and salespeople who manage to stick around make less than $75k a year … and less than 1% of these make more than $125K a year? That salespeople nationwide average less than $35K?
Most business owners are skilled technicians who struggle for each and every client/customer/patient. Why? Because they’ve never had the kind of “real world” training in marketing, psychology and advertising needed to make people respond and bring in business. Instead, there’s a myth floating in business minds that says, “Once you get your name out there, people will seek you out.”
Sorry, that’s a pile of garbage!!
Yes, I’ll admit, having your name recognised never hurts. But I must ask does it really help?
In the previous secret, we talked about how name recognition can get business, but only after long periods of time and incredible amounts of money are spent. Your time and, especially if you’re in business for yourself, your money.
If you want image marketing to be your primary source for attracting business, be prepared to spend thousands of dollars each year. (Oh and make sure you have a back up source of income from another job or a spouse will come in handy … for three, four, even five years or more)!
Why? Because that’s how it works. To get name recognition, you have to pour money into advertising and personal promotion. Big Money! Then, you sit and wait for the people to respond. And sit. And sit. And sit some more.
And while you’re building this name recognition, how do you pay your bills? Will you make mortgage payments in the meantime?
If you have name recognition, how much money to you spend to get it?
These are important questions. If you learn nothing else from me, I hope you come to realise that every dollar spent on marketing or advertising – regardless of form or medium – should return you immediately with profit added to it. If not, it’s a waste of money … Your Hard Earned Money.
So, unless you have a thick bankroll and all the time in the world, you need to know how to generate responses and get clients/customers/patients immediately!
Just to note – “immediate” in marketing terms means within a month or two, not the next day! Now you can and should, get responses the next day, but it takes more time for a follow-up system to get underway. And, people need time to think about things, even when they’re interested in what you’re offering.
The key, then, is to generate responses immediately. Doing so will dramatically improve business. And hopefully your life! I’m serious … it’s like nothing you’ve ever experienced. Having new clients/customers/patients roll in, day after day, your business will never be the same.
So, can you, or should you, spend money on image or personal promotion? That’s entirely up to you. Honestly, I have clients who have been in business for years, who completely abandoned old image ads when their first prospects came in from an ad you’ll see later. They never looked back.
Never again will they spend hard earned $$$ on an image ad that generates no response. Why should they? They’re spending the same money running direct response ads and receiving a dependable, predictable, reliable stream of responses … who turn into paying customers/clients/patients all of their own volition!
No cold prospecting, no image building, no waste, no time delays measured in years.
You know, it’s hard to feel good about spending money with no hope of receiving qualified responses. It’s even harder to feel good about it once you’ve experienced the joy of getting responses every time you run an ad! That rush of excitement – it’s hard to describe. But it’s there each and every time the leads start flowing in. Like other members, you’ll have a problem going back to “wish-and-pray” marketing.
Now, if you’re different from me and you want to continue with image ads and personal promotion, fine. It really is your money. When you spend it, however please realise that the only people making money off image advertising are printers and agency people.
Enough said? It’s time to move on to the next secret about what’s on your clients/customers/patients’ mind!
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