Do You Need To Change Direction?

March 4th, 2010

You’ve worked hard to define yourself and your business. You have distinguished your area of expertise and identified your niche – and business is good.

But, somewhere along the line, as you work within your niche, serving those specific clients who are benefiting from your services and products, your business may start shifting in a slightly different direction. Keep a look out for this shift in direction.  It can be a very positive step – presenting more opportunities available than you’d realized.

If this starts to happen in your business, it maybe time to reposition yourself. If you’re noticing that your skills and expertise lend themselves beyond the niche you created, don’t be afraid to refocus your vision.

For example, a client of mine initially established herself as an expert in helping working moms and moms who wanted to start a business.

She noticed the same things coming up over and again in her target market – guilt, confidence, work-life balance. She did a lot of research and gathered a lot of information because she was coaching, mentoring, and advising her clients.

Although she was very successful and very satisfied with her business, she uncovered an opportunity for corporate work. Though she is still working within her area of expertise by offering workshops and services for working mothers, the corporate niche is totally different.

What she is selling to companies isn’t mom coaching. She’s selling them the end result of retaining working mothers. This is a really important distinction. She isn’t abandoning what she’s been doing with her coaching of moms, but the corporate client is really a new direction. In essence, she has two clients – the corporation who hires her and the end user, the moms that she’s already been working with in the other part of her business.

In this case, the opportunity to expand and work outside her niche led her to reposition herself to accommodate these additional opportunities.

In some cases, you might find that certain aspects of your niche aren’t working for you. This is another instance of the need to reposition your business in order to find a more suitable direction.

Another of my clients spent more than 18 months putting large tenders together to submit to government organizations, where a particularly strict type of bidding process is required by law. It’s very difficult to establish personal relationships that lead to a sale in that type of environment. Though he’s had some success in his business, he began weighing whether it was worth the enormous amount of effort he was putting in. All of the bidders are essentially on the same level, with no personal rapport with the potential client to help win the bid.  He was essentially operating in a buyer’s market. And that is not where you want to be. To attract clients, you need to turn that traditional sales dynamic on its head so that you’re operating in a seller’s market. You want to be the one with all of the advantage, and position yourself so that there is no competition. In his case, looking to private companies with whom he can establish relationships would put him in a better position.

Look for markets where it will be easier for you to build those personal relationships, and where you can position yourself as an expert.

Whether you have noticed the opportunity for additional business, or recognized the need to shift from your current niche, repositioning is an excellent way to expand your options.

You can still work within your area of expertise, but by repositioning yourself, those same skills could be very valuable on a larger scale.

Bernadette Doyle is a small business marketing expert. Get more tips and advice at http://www.clientmagnets.com

Do You Need To Change Direction?

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Posted in Business Networking, Business Plans, Business Success, Marketing, Niche Marketing, Small Business Ideas, Success Secrets | 1 Comment »

Create Packages Instead of Customizing

March 3rd, 2010

When a potential buyer makes an inquiry, have you found yourself responding with an answer similar to this:

“Well, our process is that first, we find out about your needs. Next, we’ll put together a proposal and then we’ll let you know how much it costs. And then, you can take it from there.”

Why is this a mistake? The problem here is that you’re doing an alot of work – work that you’re not getting paid for – without even ensuring a sale. In addition to not closing the deal, this type of business practice also makes the sales process very labor-intensive for you. You have to take the time to find out the client’s specific needs. You have to write a proposal and you have to work up a cost for them. Then, they’ll decide if they want your product or services.

By customizing your approach for that client’s individual needs, you could conceivably put in a day’s work or more, and have nothing to show for it in the end.

So, the first thing you need to do is stop customizing. Instead, start creating packages of your services and/or products – packages that people can see and buy, right off the shelf.

This is a practice that can work really well for you. By creating a package, you are specifying what your product or service is, setting specific prices, and actually quantifying the benefits of your offer. It forces you to make your intangibles tangible. Customers are more apt to purchase when they can see, touch, taste and smell what they’re getting.

You can also create a variety of packages at a range of levels. Begin with a starter package. You might even consider creating a budget package, to make your services even more accessible.  In addition to your base packages, I encourage you to develop a first class program or product – call it The Rolls Royce program – for those people that want the absolute best.

You don’t have to develop hundreds of packages. Two or three range levels are enough to begin with. By offering a range, you’re creating the illusion of customizing. People can basically ascertain their needs, look at your different packages and say, “Yes, that’s the one that’s right for me.”

When you develop your packages, design them so that your solutions match the client’s ideal end results. You want to highlight the benefits, not the features. Your clients don’t care so much about your process as they do about achieving their desired solution. If you’re a coach, for example, you probably focus on the coaching process, but your clients are interested in what that process will do for them.

Maybe they want to simplify their life. Maybe they want to find the confidence to apply for a promotion or find the support to start a new business. Or, maybe they want to find a new relationship or get through a difficult divorce.

There are many different things and many different end results. The important thing is to keep your client’s desired end result in clear focus when you create and describe your packages. Your packages need to clearly show clients how what you’re offering is so closely aimed at that desired end result.

You can still deliver the same quality results you would by customizing, but by turning your expertise into packaged information, you can spend a lot less time, get a lot more clients, and help a lot more people at the same time.

Create Packages Instead of Customizing

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Posted in Advertising, Business & Money, Business Networking, Business Plans, Business Success, Marketing, Money Making Ideas, Small Business Ideas, Small Business Marketing | No Comments »

How to Make Your Pitch To Corporate Clients

March 2nd, 2010

If you could put a figure on the net results your programmes, coaching services or training would have on a company, when implemented,  what would that price be?

How much money can what you are offering save or make your client? This is what larger companies and corporations want to know.

When you are pitching your product or services in a corporate environment, always emphasize and focus on what the net benefit to the company will be. Will your offering increase their overall sales? Reduce expenses and costs? Will it make their staff more efficient and productive, thus saving the company valuable time – and money?

It’s relatively easy to calculate straightway the cost that lost sales have on a company. However, there are other factors by which companies need to measure net results.

Maybe your business specializes in softer skills, such as leadership, management and employee development. To quantify that, you need to zero in on the tangible results the company will receive from your skills. Show corporations how they will be able to conduct more effective meetings because of your trainings; how they will receive more productive feedback because your workshops will teach staff to communicate more clearly.

Highlight the long-term implications that services similar to the ones you offer have on other companies. Gather statistics and give examples of how retention rates in companies improve because of the type of workshops you present and the skills you teach.

Statistics for all sorts of elements come into play here. Lost sales, sick leave, lack of focus, clique problems. You can gather research on many different challenges and problems that big companies face, then use that as a starting point and connect the dots to the cost savings for the company.

You can start gathering your statistics online.  Search relevant phrases and you’re sure to find that someone, somewhere did a survey and quantified the results that can be achieved.  Obviously, you should quote your source.

Here’s an example to demonstrate …

“This survey from _____showed that 45% of employees who leave an organization reported poor management as the main reason for leaving. When asked to clarify “poor management” it turns out that one of the things identified was poor feedback.”

After you state the facts, you then share the conclusion that poor feedback is costing their organization X amount of dollars.

Though you may deliver your product or service to a different end user than the head management of a company, in the end, your corporate clients will make the decision to go with you based on the impact your services will have on their bottom line.

That’s why when pitching your service or product in a corporate environment you need to spell out the net results that will be achieved.  Back it up with the data and statistics that support your offering. Show your prospect how they will benefit – bottom line -  and watch the sales flow in!

Bernadette Doyle is a small business marketing expert. Get more tips and advice at http://www.clientmagnets.com

How to Make Your Pitch To Corporate Clients

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Posted in Advertising, Business & Money, Direct Marketing, Guerilla Marketing, Marketing, Money Making Ideas, Sales Motivation | 2 Comments »

Convince Potential Clients To Hire You

March 1st, 2010

“Out of all the people I could hire, why should I hire you?” How would you respond, should a potential client ask you this question?

Simply telling them that you will work really hard and do a really good job isn’t really telling them anything at all.

You’ve got to be able to give clients practical, tangible and unmistakable reasons to choose you, and you’ve got to be able to pull those reasons out of your pocket at a moment’s notice.  Here’s how …

•  Identify the end results you have achieved for other clients. Whether your product or service can save a client thousands of dollars, help them to finally quit smoking for good, lose 15 pounds, or increase their business by 50 percent. Clients make their decisions based upon what’s in it for them. Spell out the benefits.

•  Make it clear that what they see is what they get. State the fact, in your marketing material and at sales meetings with potential clients, that the person they meet will be the same person who will deliver the service to them or their end users.

•  Stake Your Reputation. Make it clear that since you are quite literally staking your reputation on the services you provide, your standards, your efforts and your attention to detail are far greater than a provider who draws a paycheck from a larger company.

•  Be able to give the implications of the results your client can achieve in terms of time and/or money. For example, your ability to help other clients quit smoking saved them the cost of a pack of cigarettes a day; over the course of one year, they save X amount of dollars. Or, by purchasing your product, another client gained valuable hours of time, which he used to implement other practices that netted him X amount more dollars.

•  Cite statistics. Potential clients want to know that you are well-informed. Keep up on the latest trends and happenings in your industry. Be able to routinely give examples of studies that show the need for the type of product or services you are offering and the difference the implementation of them made to users.

•  Declare your expertise. The broader you claim your skills to be, the fewer clients you will attract. Clients want assurance that you are the authority on their area of need. Once they know you are, they will view you with confidence and place greater value on your knowledge and skills.

By the time you’ve finished answering their question, the only question potential clients should have left is why they haven’t hired you sooner.

Bernadette Doyle is a marketing specialist who helps entrepreneurs become client magnets and attract a steady stream of their ideal clients. She publishes a free, weekly newsletter for trainers, speakers, coaches, consultants, complementary therapists and solo professionals. If you’d like to receive invaluable tips and advice on how to attract clients with ease, register at http://www.clientmagnets.com

Convince Potential Clients To Hire You

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Posted in Business Plans, Business Success, Customer Retention, Marketing, Sales Motivation | 1 Comment »

Help Clients Make The Decision To Buy

February 25th, 2010

You may be fully aware of the tremendous difference that your services make to an organization or an individual, but you have to find a way to link that difference to end results.

One of the really important things you need to do in your business is identify the results you achieve.

One way that you can ascertain the results you’ve helped a client achieve is to go back and ask them. If your contact has told you that since they used your services or product, they got X number of results, find out the implications of those results – in terms of time or money.

I did some negotiation skills training for a client, who told me, “it really made a difference.” That’s all fine and good, but I asked them to quantify what difference it made.  In their case, they were able to measure what their goodwill budget had been the year before compared to the current year, and I was able to get a statistic from that.

If you’re a coach, and you’ve been able to save a particular client 2 hours every week in their work week, that’s valuable time over the course of a month or two. But, if you factor those hours at the rate that client gets paid, it could work out to your helping the client make additional thousands of dollars a year.

You have to look at what you’re doing in terms of increasing sales, or reducing cost, or saving time, and then work through it that way. Calculate what the net benefit is for the client. Always remember, clients make the decision to buy something based on the benefits.  You may need to do a bit of research to make those connections.

Think of yourself as a salesperson who is putting together a presentation that quantifies all the benefits. Or, as a bit of a lawyer, arguing in court and putting together a case. You have to bring together different pieces of information and statistics to make your argument.

It’s not that you’re stating you are definitely going to help a client save this amount of time or money, but you’re getting people to think in terms of end results for their business.

To get your potential clients those results, you must first prompt your existing and satisfied clients for a specific answer about how your service benefits them. Be willing to go back to your contacts and talk to them about the difference you’ve been making. Ask them to quantify it.

They won’t think about it until you ask them. But, by asking the question, you’re also raising your value in their eyes too.

Bernadette Doyle is a marketing specialist who helps entrepreneurs become client magnets and attract a steady stream of their ideal clients. She publishes a free, weekly newsletter for trainers, speakers, coaches, consultants, complementary therapists and solo professionals. If you’d like to receive invaluable tips and advice on how to attract clients with ease, register at http://www.clientmagnets.com

Help Clients Make The Decision To Buy

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Posted in Cash Flow, Closing The Sale, Marketing, Sales Motivation | 1 Comment »

Make More Sales By Gaining Trust and Confidence

February 22nd, 2010

You know that you’re the best, but your customers need to believe that too. There are several ways for you to gain their confidence and trust so you can earn their business.

Sway potential clients in your favor by taking away the risk of doing business with you and making your offer irresistible.

•  Offer a  guarantee. Personally, I have a guarantee when I’m offering my products or workshops. There is some grey area here, however. Some of my higher-value coaching services are more time intensive for me and don’t include a guarantee. The reason I don’t offer one is that I don’t want to give people an opt-out clause. When these high-caliber people step up in a big way and want to get the results that a high level coaching from me can deliver, I want to know that they’re fully in the game.

It’s a big challenge to make a massive transformation or a big leap in business. You don’t want clients like these to be running for the door or the emergency exit the moment the going gets tough. So, in some cases, guarantees are counter-productive and could actually end up helping clients resist what you’re offering.

So, you have to decide whether or not a guarantee is right for your market.

•  Alleviate their fears. Sometimes people won’t sign on or purchase something because they’re skeptical that what worked for other people won’t work for them. You need to show them how, even if they may have failed in the past, this time they will succeed. Include additional follow-ups or features that your competition doesn’t provide to show that you can help them accomplish their goal or fulfill their need. Be creative and really give some thought as to how you can remove the risk for your potential clients.

•  Make your offer irresistible. Pile on so much value that there is just no way they can lose. Include all the things your targeted clients could possibly want so that they just can’t pass your offer by.

There are few different ways to do this. Quantify the benefits of your services. For example, if you’ve got a program where for a $1,000 investment, your client will be able to make or save $10,000 in the next three months, you need to tell them that. Don’t assume that they will figure that out. Quantify the benefits specifically.

If there isn’t an easy financial comparison in your business, you do need to dig a little because this can really help you and help your clients. They will be able to wrap their heads around what you’re offering and make an informed decision because you’re giving them all the information they need.

The more you quantify, make your offer irresistible, and remove risk, the more successful you’re going to be.

Bernadette Doyle is a marketing specialist who helps entrepreneurs become client magnets and attract a steady stream of their ideal clients. If you’d like to receive invaluable tips and advice on how to attract clients with ease, register at http://www.clientmagnets.com

Make More Sales By Gaining Trust and Confidence

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Posted in Business Success, Cash Flow, Closing The Sale, Customer Loyalty, Customer Retention, Marketing, Money Making Ideas, Strategies To Keep Good Customers, Success Secrets | 2 Comments »

Get A Better Response From Your Joint Venture Partners

February 21st, 2010

You’ve chosen your potential joint venture partners. You’ve sent them a compelling email that gives them all the information and creates lots of excitement about your promotion. Now you’re waiting for the positive responses to come in.

But what if they don’t?

There will be people who say no, who aren’t interested in the partnership. There may also be some who don’t respond at all – maybe they didn’t receive the email.

Don’t be discouraged. They aren’t necessarily lost causes.

If someone says no, or doesn’t respond, try to maintain the personal connection you established in the email. Phone them and say what you put in your email.

During the call, outline your idea. If they express interest, get into the details of how the promotion works. And then just ask them, “Are you onboard?”

Don’t assume the answer is negative if you don’t get a response. You’ve got to follow up. This is your business. This is you thinking big and wanting to partner with big players. So you’ve got to act big to do that, and you’ve got to take what you’re doing really seriously.

There are also times when a little creativity might help. For example, you may work in an industry where there aren’t many potential partners, and those you would like to approach are really “big fish” who might be too busy to work with you. Sending an email probably won’t make much of an impression on them. So be creative about how you get their attention.

You could mail them something catchy. I’ve seen people mail things like fake money or fake checks with a note saying, “This is play money but I’m hoping to send you real money soon. All the details are inside.” Wrap it up in a box so it stands out from the other mail and gets noticed.

I don’t recommend sending an actual product without permission. Some people get totally bombarded with products that they haven’t asked for and that take up space in the office. You don’t want to do something that will be a nuisance to them.

Also, some people may want to view your product before they endorse it. But do ask permission. Don’t just send it to them unannounced.

Unfortunately, you are going to get some no’s. Not everyone you contact will say yes. But don’t get discouraged. Just keep going and don’t give up.

Expect that some people will say no.  Aim for more partners than you think you’ll need. Update and add to your jv list constantly in order to be sure you’ll have enough joint venture partners on board.

Once you get the ball rolling the excitement will really begin. The promotion and partnership will build momentum.  And it will become a self-fulfilling energy that will keep you inspired to continue with future partnerships.

Bernadette Doyle is a small business marketing expert. Get more tips and advice at http://www.clientmagnets.com

Get A Better Response From Your Joint Venture Partners

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Posted in Advertising, Business Networking, Business Plans, Business Success, Internet Business, Joint Venture, Marketing, Website sales | 1 Comment »

The Key To Setting and Getting The Right Price

February 20th, 2010

If you want to have a successful business that serves clients, sooner or later money has to change hands. And that means sooner or later you’re going to have to say, “This is what I’m offering you and this is the price.”

If you have a problem with that, you’re not alone. I see a lot of people missing this step when they map out their business plan. You shouldn’t misstep here though, because it is an obvious and necessary detail. Without it, you are not going to be putting any money in your bank account.

The only thing that will put money into your bank account is you showing up and saying to that customer, “Here it is. Here is what it costs. Here is how to pay.”

This can be a difficult thing for people to do sometimes. But, really, there is no reason that you should be afraid to ask for the money. Maybe you’re frightened of the possible rejection. Maybe you’re frightened of negotiation and the possibility that you’ll have to say no. Maybe you’re afraid to actually set the price in stone.

If you set up your price before you even begin taking on clients, there isn’t anything to be concerned about.

Approach this detail from its end point. Design your total client-getting system so that it takes you all the way through to collecting the money. In fact, what I really want you to do is start with collecting the money and then work backward – detailing all of the steps that need to happen in order to get to that point.

You simply cannot deliver outstanding results for your clients if you’re worried about money.

So, it’s important that you begin with the end in mind. Be focused on your end point.  What type of clients do you ultimately want to attract? From there you can begin to develop lead generation systems that will attract the right type of people. People who will be raising their hands, wanting in on your offerings. They won’t be haggling with you about price because you’ve done your research. You know that your services are valuable to them.

This pricing determination has to start before you generate a single lead. By the time you begin your lead generating, you should know how you are going to convert clients and how much you are going to charge them.

So, in essence, you are making decisions from your destination, not from your starting point. This is something that I’ve learned in my own business. When I’m evaluating anything now, I make my decision based on where I want to be 12 months from now.

Something might look like a huge investment to me today. But I know that I’m growing and stepping into something bigger and that I’m going to be in a completely different place 12 months from now.

I know this because I’ve doubled or tripled my income every year for the past three years. When I view something from that destination, something that might look like a huge investment now is actually quite miniscule.

So, make decisions from your destination. Know how much you will charge for your services. Know how you will bill your clients. Get good at asking for money. It is in your best interest and theirs. You can’t treat your clients as well if you’re constantly worried about money.

Start with the details of collecting the money and you will no longer wonder, “How can I ask for this much money from a client?”

The Key To Setting and Getting The Right Price

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Posted in Business & Money, Business Plans, Business Success, Cash Flow, Marketing, Money Making Ideas, Success Secrets | 2 Comments »

How To Win Big Business

February 19th, 2010

You can compete with the big name players in your market. You can attract corporate clients to buy your services, whether they involve negotiation skills, presentation skills, sales skills, or dealing with difficult clients and colleagues.

Sometimes, the idea that you’re at a disadvantage to the big companies is more in your own head than it is in your potential buyer’s eyes.

Here’s a simple formula to follow when competing for big business:

Be confident in your ability to deliver your product or service  +
Distinguish yourself from the competition =
Clients will jump on your offering rather than you having to compete for their business.

Don’t be intimidated by the larger businesses who offer services similar to yours. Don’t let the heavy hitters in your area give you an inferiority complex.

Your business actually has a massive advantage over these bigger players…

•    Many of these larger structures tend to offer fixed programs and fixed courses. There’s usually not a lot a room for customized, pick-and-choose type training. You’re not restricted in a way that a larger company would be. That actually means you can have a lot more flexibility for your client. You’re much more able to be responsive to their needs.

•    Big companies tend to send in a very charming and persuasive sales person to close the sale. They go in with all the glitz, pretty brochures, maybe they even take the client out to lunch. Then they outsource to the most inexpensive person they can find to deliver the service, still charging the client a premium rate. Clients soon discover that the person who is actually put in front of them to deliver the training, do the consulting, or whatever the service is, doesn’t have that experience, that credibility or that authority.

Make it obvious, in your marketing material and also in your sales meetings, that the person the client meets going in, is going to be the same person that their end users meet. Without actually saying anything negative about the bigger company vying for their business, you’re planting a seed of doubt. You’re not badmouthing the competition, but you are giving the client something to think about that they may not have before. Where possible, you always want to sell yourself on your strengths as opposed to just going in and knocking the competition.

•    When your business card is basically your name, you can sometimes feel, “I haven’t got the weight. I haven’t got this huge impressive organization behind me.” But, you have to start seeing that as a real advantage. Don’t underestimate a client’s ability to appreciate the fact that your business success hinges on your delivering the very best. You’re not just following some automated process. You’re really engaging with them and really getting to understand their business, so you can make recommendations based on your expertise and what you’ve uncovered as their real need. You’re literally staking your reputation on your service.

So, just because you’re not as big or as famous as some of the others, doesn’t mean you’re at a disadvantage. You’ve got to start to think about, “What do I have that these guys don’t have?”

Bernadette Doyle is a small business marketing expert. Get more tips and advice at http://www.clientmagnets.com

How To Win Big Business

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Posted in Advertising, Business & Money, Business Plans, Business Success, Cash Flow, Marketing, Money Making Ideas, Presenting, Sales Leads, Sales Motivation | No Comments »

Automatically Close More Sales

February 18th, 2010

If there’s one challenge new entrepreneurs share, it’s the need to close more sales. They work very hard, but never seem to meet with enough people to reach their desired goals. There’s a better way to meet your goals and it’s called “sales automation.” Once you learn to automate some or all of the sales process, your closing ratio, and your income, will increase dramatically.

Getting Past Your Objections to Automation

When we’re talking about “sales automation,” it simply means putting your sales process into a format that doesn’t require your physical presence. That may mean writing a great letter that causes prospects to want to buy without needing to meet with you. It could also mean setting up a website and email system that reaches out to prospects and makes your offer in a compelling way that leads them to buy.

Right now, you might be saying, “Oh, no, selling my product requires face-to-face interaction!” Here’s the thing— there are only so many hours in a day and so many prospects you can meet with personally. If your company’s success remains tied to your ability to shake hands with every prospect, you’re severely limiting your future income.

Instead of being the bottleneck to your company’s success, find a way to package what you’re offering so that the sales process can be automated. When you do, you’ll be on the path to a big jump in income. Learning to use automation tools like sales letters, webpages and brochures as your sales force will increase your closing percentage exponentially.

Packaging Your Offer for Automatic Sales

The first step, is packaging your product so it fits in an automated process. Even if you’re the product, as coaches, consultants and other professionals often are, what you’re offering the client can still be packaged.

What do you say when sitting face-to-face with a prospect? Pull that together into a package that can be presented over and over without your actual involvement, and you’ve got the key to automated sales.

Get started by creating a sales letter that focuses on your product and the need it meets in your target audience.

There’s a lot of discussion about how long online sales letters can be, but it’s important to remember you must answer every question when you aren’t physically in front of the prospect. Otherwise, they’ll simply move on to the next offer.

So, practice writing your prospects a letter that answers every possible objection and points them toward a sale. Open that letter on your website, and make sure the sales process is completely automated. A well-written online sales letter can become a powerful “sales force,” automatically selling your product without any involvement on your part.

There are other ways to make sales more automatic. A carefully written brochure that moves the prospect from initial interest to “I’m ready to buy!” can eliminate the need for personal sales call.

Moving the people toward a sale really doesn’t require being eyeball-to-eyeball with them. It simply takes packaging what you do in a compelling message. Move past your own objections to sales automation and let it help you grow your business.

By putting your products in front of more people, without requiring your own time and effort, a good automated sales process can increase your sales dramatically. Find a way to package your product and increase your exposure dramatically through sales automation.

Bernadette Doyle is a marketing specialist who helps entrepreneurs become client magnets and attract a steady stream of their ideal clients. She publishes a free, weekly newsletter for trainers, speakers, coaches, consultants, complementary therapists and solo professionals. If you’d like to receive invaluable tips and advice on how to attract clients with ease, register at http://www.clientmagnets.com

Automatically Close More Sales

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Posted in Direct Marketing, Email Marketing, Internet Business, Marketing, Niche Marketing, Online Marketing, Sales Motivation, target audience | No Comments »

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