The interesting thing about growing your small business is that it does not happen by accident. If you want to double your profits and grow your small business you must do a few things differently. The challenge for most business owners is that they have good marketing ideas, but no plan to implement the right ideas on a consistent basis. With the daily challenges that spring up for them, it is difficult to stay focused with sticking to a successful marketing plan over the long haul.
From my work with my clients, along with my research, I have come up with several time tested ways you can earn more customers and double your profits. Here are three of them.
The first thing that will help you get more business with your marketing efforts is to have a plan to measure your results. It doesn’t matter what ideas you are using. If you cannot measure what works and what doesn’t work, you are flying blind.
“As Ed King, Small Business Consultant, once said, “If you can’t measure it you can’t manage it.” As Mr. King went on to say, “you can measure anything.” The problem is, many small business owners do not have a system or the patience to test their marketing efforts. A simple way to assess your marketing efforts is to use the four step TMET formula.
T – try the idea. Actually use the idea to see how it works.
M – measure the results.
E – evaluate the idea, compare it to other things you have used.
T – tweak or toss the idea. Change it as necessary to get it to work or if it is no good, simply get rid of it.
The next free thing you can do to grow your business and double your profits, is to have a strong guarantee. As Jay Abraham, noted marketing consultant says, your prospects don’t want to risk their money. The more you can reverse the risk with your product or service the better. One good example of this is Belle Tire’s famous guarantee that will match any price for the tires they sell. Their slogan is “the lowest tire price period.” They are making it easy to make the decision to purchase their tires, because you are assured of the best price on the market.
The third free thing you can do to make your business more profitable is to have a unique distinction. Identify that something special, that separates your company from your competition, and publicize it. It might be your location or your friendly, well trained service staff. It could also be your free consultation or no pressure approach to helping your customers. It could be your promise of helping them solve their problem or referring them to a company who can.
So, in summary, by using these three ideas, you can begin the process of earning more customers and doubling your profits. Make a commitment right now to set up a time to start using these ideas. Remember, they will only work when you make them a priority and then you take action to implement them.