Keep for crippling your business with these marketing mistakes, There’s about 20 marketing mistakes that many of us have gone through in the past maybe some of you are doing them right now
Dave Negri here with Contract Secret Weapon. Thanks so much for being with us today. I’m excited to start a new series that we’re going to be going through over the next five days. And I’m in the process right now of writing the report and it’s looking like it’s almost finished at about 60 or so pages of this report are going to be doing this podcast on over the next five days or so. Oh, the title keep from crippling your business with these marketing mistakes. That’s right.
There’s about 20 marketing mistakes that many of us have gone through in the past maybe some of you are doing them right now and we want to give them to you as a gift, but they won’t be available to episode number five.
So, stick around episode number five series and we’ll have this 60-page report ready for you in the show notes page so that you can take advantage that goes for the workbook and revisit the podcasts if you want or just go through the show notes.
An old sales trainer Reed Motley said nothing happens until something is sold. And of course, he was right selling or the process of getting goods and services into the hands of consumers and having them exchanged money for those goods and services. Our whole economy is really built on and the mere selling of a product or service someone does what is suggests that a job has been created in order to make manufacture or produce that thing that was sold and in order for that item to be purchased. Another job. Produced and sold product are offered a service of some type had to be in existence in order for the buyer to have the money to exchange for that item.
Well it’s that process that process what we call marketing is the bringing together of potential customers or we can call them prospects and certain products or services.
So that a person seeking agreement can be reached. Now that purchasing agreement is a sale so just not just regular marketing, but effective marketing is critical to the success of a business.
Of course, any business and in fact your business and mine with ineffective marketing our prospects may never find out about the product or service that you have to offer and that they may need. They may want or that they could even benefit from and consequentially a sale has never been made. That really sucks when you don’t make a sale because no one knows who you are. So, the statistics tell us and you’ve heard it over and over again 80 percent of small malt businesses will go out of business in the first year that are in business and those that remain 80 percent of those will not be in business five years from today so make no mistake These are alarming statistics.
Yet even with those incredible numbers people still. Take their dreams into the marketplace with little or no planning. That really is where we get hurt and with little or no regard to the harsh harshness and cruelty of what the market place can bring without proper planning. So, it’s all about planning.
Common sense coupled with resistance for others have done in the past should tell us that if a business is going to expect to succeed in today’s competitive market then that business is going to have to do a number of things right or at least better or perhaps differently than most other businesses that have gone on before.
You need to have your head above the crowd waving your hands. However, that may be so it takes more than low prices. We’ve said this over and over again for business to remain competitive in today’s market because even the person with the lowest price gets beat by someone who is even lower. I don’t know how they do it but that really sucks, and it makes no sense at all. So no longer is a possible for a business to maintain their competitive advantage for an extended amount of time because of the products or services they offer or the prices they charge. The availability and affordability for many businesses to take advantage of cutting and take cutting edge technology. Low Price skilled labor and more efficient delivery and distribution systems makes it possible for increasing number of businesses to enter and compete in the market place.
This just wasn’t that way just a few years ago. So even if a business can offer a unique product or a unique service or perhaps even lower prices on similar products or services that are currently being offered it won’t be long until competition finds a way to duplicate that or at least pretty closely match that business’s performance. And that puts an end to the competitive advantage of the original business help. So if a business can’t depend on its products its services or prices for their competitive advantage if they expect to survive and thrive that business is going to have to perform acts potentially in a number of critical areas. Marketing is a major key to success in business. Unfortunately, most people take their dreams harder and life savings into the marketplace in the form of a small business are not even aware of some of the most important factors that contribute to and can even sure their success.
If you’re like me when you first went into business, you just got an idea. I can do it. I’ve done it before. I’m going to go do it for myself I’m going to make more money and boom go do it. But luckily, I learned along the way before I went out of business. So contrary to public belief and much misconception designing creating and building and growing successful and proper enterprise that commands a dominating position in the marketplace doesn’t automatically require hard work.
Frustration and enormous costs there’s no question and you probably won’t get much debate that there more competition is stiffer competition than ever before in nearly every industry and profession.
I see more and more people in the line of work that I’m in new trucks better looking trucks new driving around on a road that I’m sure you see the same thing. But there’s also been even though there’s more competition and it’s more demanding. There are more opportunities especially for business businesses whose owners and interests understand a few basic fundamental concepts. You can get the edge. It really doesn’t matter if you head up the largest corporation in the country or if you run a weren’t one person home based business.
Or contracting company or window cleaning company is immaterial. There are just a handful of things you need to know to gain a competitive advantage in your marketplace. And mastering just three of the most important of these things will enable you to write your own ticket to success. So, you and I both know that this year in this country is Grace and most prosperous time the world world’s ever known a huge number of businesses and even large and well-established businesses are closed their stores never do business or provide the products or services to their customers.
Again, there are so many businesses billion-dollar businesses that have gone out of business overnight. Others say it’s because of poor business management practices. Another there’s another school that teaches that some businesses are started by the wrong people that certain people lack entrepreneurial skills and it would be better off working in their respective businesses as technicians or employees rather than trying to run a business.
That’s funny but when you get right down to it for a business to even be a business in the first place that business has to have customers some want to exchange for dollars for the products and services that the business sells.
You can have all the funding in the world you can have great management skills you can have a tremendous entrepreneurial mindset but unless and until you have someone new purchase what you have to sell in the form of products and services in sufficient numbers you’ll never have much of a successful business enterprise and you only generate an average income at best.
So here’s a fact worth considering. So most businesses fail because they don’t have enough customers buying from them on a regular basis. Most businesses don’t attract a sufficient number of new customers or they let their existing or current customers slip away. That’s a no,no. In most cases it isn’t always because of the owners, managers or operators of those businesses didn’t try.
Quite often it’s a result of not understanding and implementing effective customer getting and customer keeping strategies. Let me repeat that quite often it’s a result of not understanding and implementing effective customer getting and customer keeping strategy. The bottom line is if you really want your business to be successful you have to make getting and keeping customers your number one priority. Let me put it another way.
When was the last time you heard a company going out of business because they had too many happy satisfied customers buying from them? My guess is never. On the other hand, you can probably name quite a few businesses that are no longer around because they didn’t have enough people buying from them coming back for more. And referring others to them. And that’s where marketing comes in. But others know about what you have in such a way that they are compelled nearly force to find out more and then ultimately to buy the products and services you offer from you not your competitors.
Most businesses know, not most every business makes mistakes with their marketing efforts some mistakes are worse than others. Some can even be deadly and if done often enough or severely enough can put the very business out of business.
But so much for other businesses. What about you. What about your business what about your enterprise. How are you doing. What mistakes are you making that could be holding you back from making the income and enjoying the lifestyle you’ve always dreamed about. Matter of fact that’s probably the reason you went into business. So, we’re going to take a look at these 20 critical mistakes most businesses make. And as you go through them think about your business and see how you’re going see how you’re doing and each one of these areas remember marketing or the ability to get your message to others about the goods and services you offer in such a manner that it can Pelz them neutrally forces them to do business with you in one of the most fundamental yet misunderstood areas in business today. Properly you’d utilize effective marketing can skyrocket the business to new and dreamed of heights not understood or utilized.
The business can sink like a lead weight if you can get control of your business and avoid mistakes these costly mistakes you can expect.
Outstanding results if you can get a handle on just a couple of them.
You will still get much better results from your business than you’re getting now but if you fall short on any of the items that we’re going to talk about and your competition masters them watch out the lead you into dust and you can afford to have them do that.
You need to be number one in your marketplace. OK. Let’s go. Mistake number one marketing mistake number one failure to let your prospects and customers know the unique benefits they get from doing business with you and not your competitor. This question that goes through each of your prospects mind before they choose you to do business with you and through each of your customers mind before they return to buy from you again. And it’s a question you must take time to form an answer to. Without such an answer you become like every other business who sells the same product or service that commodity it doesn’t matter what product or service is being offered your customers can go nearly anywhere and find the exact same or very similar products or services offered for the same price perhaps even less money than what you charge. Okay think about yourself for a minute. Why do you shop at the same stores or eat at same restaurants over and over again? Most likely just because they offer you something you can’t get from their competitors.
Maybe they’re closer to where you live or work or maybe you like the way a particular restaurant prepares a certain meal. Perhaps it’s the environment or the people who work there or maybe you just feel comfortable almost like you’re at home while you’re in their place of business. It may not be one single thing that influences you but rather a combination of several factors. Nevertheless, the businesses you continue to frequent give you something special something unique something you just can’t get anywhere else. It’s that uniqueness that keeps you coming back. Over and over again and most likely has nothing to do with the price if you expect people to do business with you rather than your competition. It’s imperative that you have something to offer your competition doesn’t have preferably something your competitors can’t offer something that sets you and the products or services you offer.
From everyone else in your type of business that’s what’s known as your unique competitive advantage. Or you ca you have heard the concept refer to the USP unique selling proposition U.S.A. Unique Selling advantage to PTF personal differentiating factor unique personal appeal that keeps going on and on for just descript.
In any case the name or what you call it is not important no matter what you choose to define your unique factor is the most critical, yet most often overlooked marketing tools in business today without a clearly defined factor that difference you and sets you apart from a warehouse who offers the same or similar products or products prospects will encounter. There will be no reason for others to do business with you.
Rather than your competition why on the other hand a well thought out carefully identified U.S.A. which we said was unique competitive advantage doesn’t have to be difficult.
It’s simply a matter of identifying what you have to offer to your clients your customers and your prospects beyond what the products or services you can provide. Let’s say you’re involved with a product or service that is so similar to others in the marketplace that there’s no significant difference between them.
You’re a window washer painting contractor pressure washer in that case here U.S.A. must be something you or your firm or business can offer.
Exclusive of the features or benefits of the products or services you sell even if even if the advantage you offer has to do with quality service dependability convenience professionalism cetera just to say those facts are not enough.
You must find ways to quantify or identify specifically how those items benefit are provided Fannings is to the end user.
When you use phrases like top quality the best most reliable service is dependability delivery. We offer top of the line products the best service and the lowest prices.
They ring hollow in the ears of your prospects and clients. They’ve heard them over and over and over again and they are vauge. If they’re vague they are meaningless. Not only can most of your competitors say the same things they do say them instead you want to be very ,very clear about how the advantages you offer will benefit your customer.
Tell them exactly what they can expect from you. It may be that you only offer your customers clients and prospects the highest quality. The top headline products. If so great but tell them in a very specific definable quantifying terms so that they understand exactly what the highest quality the top of the line means for them and how they will benefit.
Maybe you have the lowest price in the industry or your market area if so that’s good but how much lower are you.
How much can your prospects of customers save by buying from you. Perhaps the support you offer them in terms of education or service or marketing assistance is superior to that offered by your competitors.
Maybe you go a step further than your competitors in your services. Let them know. Here’s a really cool example. That was used for years and years and years go by.
Schlitz brewery,they wanted to become they were number four in the marketplace and they wanted to become number one. They really didn’t know how to do it. And so, what happened was they brought in.
I can’t remember who the copywriter was they brought him in and they wanted him to go through their plan put a marketing campaign and when he went through the operation they went through where they were they were I think a fresh body of water all the water was filtered five or six times it came in all the bottles were made and then they were steam clean and pasteurize whatever the case may be and it went through a long list of what they actually did to get that beer out and McCaskill and this is pretty awesome. This is really amazing. And the owner goes everyone does this. He says Yes everyone does this but no one knows that you do this. You have to tell your potential customers exactly the step by step process and what they did that and it was a short matter of time that Schlitz became number one in the marketplace and held them for like four or five years. Unbelievable because they took the simple things and they let their customers know what they did.
Yes every painter basically does the same thing every window cleaner does the same thing. But if use pacifically line it out item by item every carpet cleaner does specifically. Probably the same thing. But if you let them know Step 1 remove all your furniture.
A lot of whatever the case maybe you give it to them so that it looks like that you are very meticulous and tedious and it’s a benefit that they’re not taking from somebody else. You need to be the number one person in your marketplace. So you know it could even be course better trained people. You could have certified people Sales people or sales advisors you know great things to offer but in themselves they don’t say much to use these features. Like I said to their fullest advantage you must quantify them burning them out lay them out so that it yes, it’s a pain in the neck for you.
But to the customer they think they’re getting something more than they’re getting from someone else it becomes a benefit. We try to shortcut to many things spelled exactly clearly and specifically what advantage and benefits your customers will gain. Whatever you choose to make your U.S.A. remember it must be perceived as desirable to your prospects and customers in other words they have to consider it to be of value to them. So you can make your proposition that’s something exclusive to you and your business operations the most. A more exclusive or proprietary you can make it less competitive competition you’ll have even by changing the name of a process that you do to make it your own process instead of industry standards. You can do that. There’s something then.
Oh whatever it is becomes your unique competitive advantage. U.S.A.. That’s the thing. The reason the advantage that will make not only worthwhile but beneficial and advantageous and advantageous even desirable for others to do business with you. Now here’s what you can do. Make a list take out a sheet of paper write it down every fantasy you can think of on why someone should do business with you. Get a big list don’t worry about whether or not your competitors can offer the same advantages or not. At this time just get some points on the paper thinking in terms of how your business might fit in the following categories. The name of your business has a say what you do. The proposition in such a way that there can be no mistake can’t be any doubt about the type of business like remember the hair club for men. What is this was the hair club for men. So what does your business does your name tell what you do and as another example if you didn’t know it was meant men’s clothing.
What would you think of the Men’s Wearhouse sold men. What about your business. Can you use the name to your advantage in exclusive niche? Are you trying to be all things to all people or do you occupy and dominate or at least have the potential to dominate a certain market? A tighter group that you can cater to more control you’ll have and the more opportunity you can have to dominate and control it. Expertise do you have some type of specialized understanding of the particular market segment, so you can become recognized a recognized expert. If you do when people look for you for help and expertise they can’t get anywhere else. You’ll have a tremendous advantage. Okay guarantee if you have an unusual guarantee you can use that as a competitive advantage. We’ll discuss later on the concept of risk reversal and guarantees later your marketing position.
How are you viewed in your marketplace? How do you stack up against your competition? What is your market perception of you versus other competing businesses? Domino’s didn’t go ahead to head with other pizza shops trying to make a better pizza instead they went after the quick in-home delivery or delivery and nearly completely dominated the market in a very short time. Because they changed how other people saw them and last price. How are your prices compared to those charged by your competitors? Do you have the lowest price for your product and operate as a discount operation or do you take the higher price point position and operate at a more exclusive level either position can be an advantage depending on how you position your business and the products and services that you sell around them. These are just a few of the areas that you may want to consider as competitive advantages.
Of course there are more but at least this will get you thinking. So, step 2 segregate your list into three groups those exclusive to you and your firm something your competition cannot offer be those that can be offered by both you and your competition and see those currently offered by both you and your competition but which they are not capitalizing on presently. So, if you know they do but they don’t advertise it could be a plus for you. The best advantage you can gain will be from choosing to group a exclusivity. Those areas in which your competitors cannot perform these are the things that you can do for whatever reason and you will want to capitalize to your foolish advantage. Group B. There’s things that are offered by both of you.
The last group can be used to real advantage, but you have to be careful on how you do it formulates your UPC develop that effective UPC and tomorrow will go into mistake number two on your marketing. Remember stick around till day five. We’re going to go through the rest of these pretty quickly and on day 5 we’re going to give you free download this whole 60-page report that will help you be grater you see and grow your business more effectively.
There are so many ways to do almost free marketing you just have to think about it or you could just go to the web site and pick up the free download.
If you have a story to tell and would like to be a guest on this podcast email my assistant Shell at Shell@contractorssecretweapon.com and she will send you our guest sheet.
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