The Truth About How To Grow Your Business
I am asked all the time about how to create business growth. I think the most common questions I receive from business owners are about growing their business. I certainly understand the pressing need and the concern. This article will give you the real knowledge you need for growing your business. First, let’s look at why your business might not be growing.
Lead Generation Mistakes
To grow your business you must have a constant stream of leads. Most businesses make the mistake of trying to build their business by using some type of attention-grabbing marketing and hoping will generate leads. This simply is not how it works. So their marketing is not functioning correctly. Growing a business doesn’t just mean leads it also means you need to generate cash flow. It also means you must generate profits, too.
There is a proven step-by-step recipe for making your phone ring, getting lots of prospects to your website and marketing your business successfully. I’ll give you those insights after I reveal the major lead generation mistakes most small business owners make.
The first mistake is not having a coach, consultant or mentor who actually knows what proven marketing is helping you.
The third mistake is not knowing how to use marketing to generate instant cash flow. Let’s explore these three in depth, and show you how you can easily and systematically overcome them all.
Let’s dig into each one.
Business Coach, Business Consultant, Business Mentor To the Rescue!
Not having a business mentor, business coach or business consultant is a huge mistake. Think of athletes like LeBron James. He has a coach. In fact, professional athletes, actors, and singers all have coaches. This is exactly what a small business owner needs. You must have professional help so you don’t make marketing and advertising mistakes that waste your money and your time
Right now look at any type of marketing you are doing. Your business card, social media pages, website, letterhead, ads, flyers… whatever you have. Was it created with professional help from a marketing expert so that it will bring you hot leads? Keep one of your marketing pieces handy as you read this article.
Only 1% of all marketing professionals really know how to market correctly. The rest are hit and miss or good at ideas and design but not at the conversion equation. The conversion equation is what we use to make sure your business stands out so you never ever compete based on pricing anymore. You get to charge for the value of your products and services and the outcomes you deliver on. When you make this one change you will have more leads than ever before plus you will convert a much higher percentage of those leads. This is how marketing should really work if you are doing it correctly.
Let me take a time out to ask you a really important question. Do you understand the true purpose of marketing? Only 1% of all business owners actually understand this.
Marketing needs to capture the attention of your ideal target market, then it must convince the audience that you alone provide the value they are seeking and can overcome their problems or bring them to their goals and finally marketing must remove the risk of buying through education. When marketing does all 3 things then your prospects will do business with you.
The sad news is that about 96% of all small businesses fail within their first 5 years and the number one reason is the business owner lacks the knowledge and expertise to generate leads. The business owner doesn’t understand what marketing is supposed to do and they don’t have a compelling and powerful Core Unique Positioning Statement developed in their business. Not having a strategic message and only implementing tactical marketing (like placing ads, networking, attending tradeshows, having a website, etc) will not make you money and grow your business. What you say and how you say it (strategic marketing) is the true money maker if you understand how to do it right.
I know that when a business isn’t generating enough leads they typically turn to the marketing medium. They believe they need to redo their website or rewrite a flyer or try a new networking group. In fact, the problem is always the strategic message and not the medium.
Unless you have been trained and have a lot of experience with marketing strategy as well as tactical execution you really don’t know how to generate leads and increase cash flow.
Look at any ad right now. It’s probably filled with platitudes like “best quality” or “lowest pricing” or “convenient parking”. Look at your own marketing. Are you using platitudes? This is the wrong way to market your business and won’t result in business growth.
When marketing is filled with platitudes it is hard to tell one business apart from another. Who do you believe? Is this one the best price or the other one? Is this one higher quality or another one? Prospects see this type of marketing and assume all these businesses are the same and therefore they resort to shopping price.
Unless you can communicate the real value and true outcomes your business offers you will always compete on price and most likely over time your business will fail. When you nail this with a great Core Unique Positioning Statement as the backbone of your strategic marketing you will rock your business. In fact the Core Unique Positioning Statement is the foundation for all successful marketing.
Let me give you a glimpse of how this works. You make a statement that interrupts your prospect. Why? Because you have to get qualified leads to stop everything and to actually pay attention to your marketing. We interrupt with the right Core Unique Positioning Statement. Next, we engage your prospect with a promise that the information they will now get will help them make the right buying decision. The engage is a promise that keeps their attention after you have interrupted them. Then you must educate with information that allows prospects to understand how and why you solve the problem they’re facing or help them achieve the goal they desire. Next you educate with detailed, quantifiable, and specific information that helps the prospect make their decision to buy. Lastly, you give prospects a way to take a next step with no risk. It might be to read a document, listen to an audio, grab a report or in my case watch a valuable webinar.
The conversion equation spelled out is: interrupt, engage, educate and offer. When you combine these together you have a powerful way to dominate your market.
Case Study: Chiropractor
Let me give you an actual client example. A chiropractor hired me who was on the verge of going out of business. He was spending about $3,000 per month for a full page ad in a local business magazine. He was actually generating about 50 calls per month, but was only about to convert about 10% of them into patients. So out of every 50 calls every month he was only adding 5 patients a month. This was not enough to cover his office and staff expenses and certainly not enough to support himself and his family. I looked at the ad and the ad simply said “call us…” with his phone number. He had no interrupt at the top of the ad. Can you guess what he had? The name of his chiropractic business. Then he listed services that any chiropractor would provide and did not stand out. At the bottom of the ad he gave his phone number again.
Is this what your website, flyer, ad, etc, also look like? With your business name at the top and a long list of your products and services with a lot of meaningless platitudes thrown in?
If you want to get your business into high growth then you MUST follow the conversion equation of interrupt, engage, educate and offer.
I re-did his ad and this is the result. I asked what the biggest pain was that people came to him for and he said it was migraines. We created all his marketing around that one key issues. Not all chiropractors have special certifications in migraine care and this one had 5 different certificates and years of training. His certifications and training and specialty dealing with migraines became his Core Unique Positioning Statement that led to his market -dominating position.
Then I implemented the conversion equation. I created a headline that went on the top of his ads and website and social media pages that truly interrupts. It addressed the hot button his prospects wanted solved – migraines. Then I engaged his prospects by promising a solution to the problem. And then we offered them education explaining that most chiropractors did not have migraine certifications like this. We educated the readers that this chiropractor as not like the rest in their community and stood alone if you wanted treatment to relieve your migraines.
Here’s what happened. Instead of averaging about 50 calls per month their new ad averaged 376 calls per month. His phone was ringing off the hook and his website was finally alive. With my help and scripting instead of a 10% conversion rate, his rate jumped to 57%.
He had so much business he brought on 3 other doctors part time to help him with the increased amount of patient volume.
All we did was change his strategic message. That’s it. If your business isn’t growing you have the wrong strategic message. Notice I didn’t have him spend a penny more. This is why your Core Unique Positioning Statement combined with the conversion equation is critical to your success.
When seeking a marketing coach, consultant or mentor be certain they know the equation and if they don’t do not waste money hiring them.
Ok, I just taught you the fundamentals of marketing which will overcome one of the mistakes I mentioned. This will help you crush your competition. Today, you must create a Core Unique Positioning Statement for your business and then you must use that by following the conversion equation 100%.
Do you recall I said that business owners did not how to generate cash flow. Well, the conversion equation solves that as well.
Case Study: Parent Coach
Let’s use my client, a parent coach, helping families with ADHD children. His website was generic with no real specific appeal about what these parents main problem was. Parents we interviewed said their main issue wasn’t that their kids were hyper it was that the didn’t listen and they were tired of screaming at them. Once we knew the hot button I created a headline for his website using the hot button. Remember these parents want a solution to their problem. Check your own website. Do you begin with an interrupting headline that’s focused on the problem your prospects are experiencing?
His site, before my help, had people leave after only a few seconds. seconds. Research shows that typical prospects visiting websites linger on the site for just three to five seconds. You must quickly get them to see the value of your site by educating prospects way beyond your competitors. I had my ADHD parent coach do this with a brief video that then gave the prospects the ability to download a 7 minute solution to their problem. Of course the prospects were excited to receive this as it addressed their problem. So they entered their names and emails in exchange for this valuable report.
Then my client just sent all of the prospects additional educational information by autoresponder and soon more and more of them would engage in his services.
Look At YOUR Business (Honestly)…
Take a look at your own business right now. Are you making the lead generation mistakes? Do you have professional help? Do you know the marketing fundamentals needed to successfully market your business and attract as many new clients as your business can handle? And do you know how to use your marketing to generate immediate cash flow?
The conversion equation contains the fundamental components you need to insure your business is successful from this point forward. It really is what makes your website collect leads and makes your phone ring and it also positions your business as the dominant force in your market. The conversion equation provides the marketing foundation that will enable you to generate immediate cash flow.
When you overcome these 3 lead generation mistakes you are on the road to generating all the business you can handle. Are you tired of not having the business of your dreams? Sick of struggling to grow your business?
Answer this one question… if I could provide your business with a lead generation system would you be interested in a 10 minute phone call with me?
I’ll provide you my professional help backed up by a proven track record and I’ll teach you the basic fundamentals that will allow you to market your business successfully and help you to attract as many new clients to your business as you want and show you how to develop compelling marketing that will generate immediate cash flow for your business.
Give me just 10 minutes and I’ll prove to you that everything I’ve said in this article is truth. I promise you won’t be disappointed. Give me 10 minutes and I’ll show you how to out-think, out-market and outsell your competition.