Would you consider an underperforming sales force an asset?

Do you believe there are assets within your business that could be leveraged and optimized for more profits?

Would you consider an underperforming sales force an asset? How about advertising that doesn’t get results? How about your database of past and present customers, do you regard it as an asset?

There are many things that can make your company unique. Why was it that you went into business in the first place? Do you have a unique set of skills or experience? Does your staff have unique experience/skills? Do you have good relationships with vendors and suppliers? Do you have a high percentage of satisfied customers? Do you have comprehensive knowledge of your industry including your competitors? A great story to tell? A “leading edge” product or service?

Do your customers know why you went into business? Do they know what makes you unique and why they should continue to buy from you?

If they don’t, they probably won’t be customers for long.

If you don’t have a unique selling proposition (USP), or if it’s not clearly and consistently articulated, then you have probably reduced the buying decision down to price. If you’re set up to win a low-price battle, you might be alright for a while. If you’re not winning, or interested in winning the low-price battle, what do you do?

All of these questions, individually and collectively, represent marketing assets that are already within your business, that can be leveraged and optimized for more sales and profits.

Just knowing what your conversion ratio of prospects to paying customers could be considered an asset. Knowing how much your average first-time customer spends, and how often they return can also be an asset.

A great way to make sure your marketing is as efficient as possible is to focus “in-house” first. Make sure you have identified and leveraged all the “assets” you already have. This is what we help companies do. Before you spend money on advertising, or any efforts that get you in front of more prospects, make sure your closing ratio of prospects to paying customers is respectable. A small increase in closing ratio alone can bring about dramatic results. Also, make sure you understand the true lifetime value of a customer.

Make sure your USP is truly unique, and clearly and consistently communicated, and then your efforts to get in front of more prospects will be much more effective. Your underperforming sales team is an example of an asset you have already invested in! Now, without getting into the psychology of whether you have the right people in the right seats on the bus, your current team can be leveraged for more sales and profits. And it can be done without taking them out of their areas/away from their customers for expensive sales training. One way to do that is in the formation of a solid USP. Arming your underperforming sales force with a carefully crafted and clearly articulated USP, alone, can dramatically increase their results.

Forming a USP, the first step in our system, is often so successful, that the companies we work for don’t know if they can handle the growth!

I’d love to hear of other success stories in the formulation and communication of USP’s!

Best,

Get Beyond Cutting Costs and Start Building Your Business

“Position Yourself For Real Growth: 6 tips to help you get beyond cutting costs, and start building your business.”


A great article by Andrew Abend on Entrepreneur.com


http://bit.ly/5excNk


Tip # 3 is: Share your customers.


It doesn't mean you have to give up your hard-earned customers. You simply partner with non-competing, complimentary businesses that have similar client bases, giving you access to a huge number of potentially new customers at virtually no cost.

We have had incredible success doing this in the past, and at our recommendation many of our clients have experienced success with it as well.

Why do so many businesses refuse to even consider it?

The Best Industries for Starting a Business

According to Inc:

The nation's fastest-growing industry is niche business consulting! It’s workforce is expected to increase by 5.9 percent through 2016.

If this interests you, we can show you how!

One Lesson From the Crisis: It's Time to Create Your Own Economy

The following is a link to another great article by Tyler Cowen,

author of:

"Create Your Own Economy."

Enjoy!


http://www.fastcompany.com/magazine/137/create-your-own-economy.html

How do you define marketing?

The traditional definition of marketing has been the introduction of your company’s products and services to prospective customers. By reason of this definition, business owners have pursued the “traditional” avenues of marketing. These include (but aren’t limited to): Advertising, hiring more sales people, prospecting, direct mail, referral programs, internet marketing, and many more.

All of these traditional marketing methods can work – but many times they don’t (don’t create a paying customer) and this leaves business owners frustrated. Sometimes they have invested thousands of dollars in these traditional methods only to find out they didn’t work or that in order to REALLY work, they need to invest thousands more.

The business owners then go back to the providers of these traditional marketing methods and ask for accountability. The reply is usually something like this:

“Did the (marketing method) bring in more prospects?” “Yes, but they didn’t buy anything” says the business owner. “Well, if they don’t become paying customers, we can’t control that – that is your responsibility” is the reply.

In other words traditional marketing method providers are not paid and do not concern themselves with what happens after a prospect is generated. Indeed there may be plenty of new prospects generated, but if they don’t become customers, it hasn’t helped the business owner! And, the frustration only grows.

The frustration grows partly because the definition of marketing is short-sided and inadequate. It is about time for a new one. Now granted, I have heard MANY vastly different definitions, and each will probably continue to change over time, but for our purposes:

21st Century Marketing Systems has redefined marketing to be:

The introduction AND SELLING of your company’s products and services to PAST, PRESENT, AND PROSPECTIVE customers by first leveraging and optimizing ALL of your company’s marketing assets.

Let me know what you think!

10 Biggest Marketing Wastes

The following list is essentially the table of contents of the FREE report available from our main website: http://www.21st-centurymarketing.com/ Follow the link, enter your email, confirm, and enjoy.

Waste #1: Failure to Define Marketing Correctly and Not Identifying Marketing Assets Already in the Business.

Waste #2: Failure to Execute Marketing Inside Before Going Outside!

Waste #3: Failure to Build a Marketing Plan Around the THREE WAYS TO GROW!

Waste #4: Failure to Have a USP - Unique Selling Proposition.

Waste #5: Failure to Communicate and Integrate the USP - Ongoing Sales Training

Waste #6: Failure to Understand the TRUE Lifetime Value of a Customer.

Waste #7: Failure to Make Advertising Direct Response.

Waste #8: Failure to Leverage Relationships: Inside and Outside the Business.

Waste #9: Failure to Implement Direct Marketing

Waste #10: Failure to Start Marketing the Web.


See our website: http://www.21st-centurymarketing.com/ for your free report. Include your email, confirm, and enjoy!

LEAN Marketing: Just for Manufacturers?

I have yet to meet a manufacturer who is not familiar with LEAN manufacturing principles. Aren’t they absolutely essential to surviving as a manufacturer in today’s competitive marketplace?!

LEAN Manufacturing and processes are all about reducing and eliminating waste and creating the most optimal “flow” in value production. “Value” could be defined here as any action or process that a customer would be willing to pay for. There are many companies and consultants who specialize in delivering supply chain and cost savings, helping manufacturers be as efficient as possible.

But with our current economic outlook, wouldn’t it be nice to be able to create the most efficient top line revenue growth resulting in the creation of more jobs, rather than simply cutting costs and ultimately jobs?!

Doesn’t it make sense to have a LEAN Marketing plan to go along with your cost savings and supply chain plans? Make sure you have eliminated marketing and sales waste and optimized your existing marketing assets!