Direct Marketing, Mail Order, and E-commerce News from the National Mail Order Association

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Tough Detroit Business Marketer Shares a Diversification Secret

How many eggs are in your basket?

How many different marketing campaigns are you implementing
right now? It is much too risky for a wise business owner to
rely on only one type of marketing.

What would happen if it failed? A business owner could lose his
or her shirt and be driven out of business!
Even a very successful single marketing campaign can have
pitfalls.

If a business owner clings too tightly to a single campaign (no
matter how successful), then s/he might never find out what
other methods of promotion could prove to work as well—or even
better—than the one upon whom s/he is relying.

It’s far safer and wiser to devote a portion of your precious
resources (money and time) to each of several different
marketing projects. Channeling your resources to various
promotional efforts allows you to have multiple points of
marketing “impact” at the same time.

If any one effort fails, the remaining projects can continue
working to keep the flow of new prospects and ongoing business
coming through your door.

Many businesses use only one or maybe two ways to attract new
clients. Sometimes, when a business first opens its doors, the
owner will place a few mediocre advertisements in the local
paper and then expect that they will generate a lot of traffic.
This rarely is the result.

People don’t go out of their way to shop somewhere unfamiliar
unless the business offers something so unique or valuable that
it would succeed regardless of the marketing effort used.
Believe me, this doesn’t happen very often!

Here’s what will work together to produce greatly increased
profits for your business: Four or five programs designed to
bring in new customers; six or more marketing efforts designed
to sell to existing clients; and the use of “up-sell” and
“back-end” product offerings.

The Seven Musts of marketing include personal contacts, direct
mail, Internet marketing, company brochures, advertising, public
relations, and the education of clients. Don’t rely on just one
single program. Diversify and grow!

Who is in your sights?

Understanding that you can’t market to everyone is very
important. You don’t want to waste your valuable time and
marketing dollars.

There are people who won’t want what you are selling and perhaps
others who can’t afford it. It is a lot easier to sell to people
who already have bought a similar product and either want more
of it or want a different or improved version.

Known users of products/services like yours are easy to locate
in your library’s reference database. They also can be located
on the Internet, in the many news groups, “list serves,” or
blogs to which people with specific interests belong.

Look at the magazine racks at you local bookstore for subject
specific publications. Folks buying these magazines are hot
buyers, they want everything they can get their hands on
relating to their subject of choice.

Is your product or service complimentary? Is someone else
approaching these folks with ads in those publications with a
similar product or service?

Find these groups. The people who belong to them are
“high-purchase probability” prospects. Buy a contact list and
start your marketing process. Do whatever it takes to reach
these contacts.

How many things are competing for your attention right now?
In today’s world, we are overwhelmed with far more information
than ever before. TV (both network and cable), radio, the
Internet, hundreds of newspapers and magazines, faxes, e-mails,
cell phones, PDAs, multiple 24-hour news and sports channels,
newsletters, etc., etc., etc. Even worse, each source of
information is screaming louder and louder to get our attention.


All of this information and “noise” makes it very important that
you target your marketing precisely to the people who actually
want to receive it.

I am totally convinced that precise, targeted marketing is
indispensable for every business. When you know exactly who will
buy your products or services, you can save thousands of
marketing dollars by directly contacting only those people who
have an ‘affinity’ to buy what you are selling.

Target your marketing where you know that your typical customer
will be looking.

Example: I wrote a marketing plan recently for a group of
financial planners who had developed a system of advice for
couples who are going through a divorce.

We did some research and found out that over 14,000 couples
divorced every year in the metro Detroit area, where we are
located.

Even if we were only to sell the planners’ services to 1.25% of
these couples, at an average profit of $750.00 for the services
and materials involved, the revenue in the first year would be
approximately $273,750.00.

That’s just the tip of the iceberg. The real income is made on
the “back-end” financial planning commissions from the insurance
and investments that are made for the divorcing couples. Since
divorce typically is a very private issue, we are planning to
market using a referral system.

Divorcing couples can locate my clients’ services through
religious organizations, community and government organizations,
business organizations and associations, real estate
associations, hospital and medical organizations and
associations, arts and humanities organizations, CPAs and
enrolled accountants, family marriage counselors and
psychologists, and estate planning specialists. Typically, these
are the groups that divorcing couples go to for advice. We hope
to be ready for them.

Do you know who your ideal clients are and where to find them?
What can you do to target your clients and prospects precisely?

Copyright © 2005 Sanford Jay Barris
Sanford Jay Barris-President
Business Marketing Services, Inc.
Author: 97 Marketing Secrets to Make More Money: Your Secret
Guide to Growing Your Business Right
10 W. Square Lake Road. Suite 214
Bloomfield Hills, MI 48302
Direct: 248-361-2306
Office: 248-335-8080
Fax: 248-335-8446
e-mail: sjb@97MarketingSecrets.com
http://www.97MarketingSecrets.com
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