Advertising & Referrals -The Two Big Punches of Marketing
Advertising & Referrals -The Two Big Punches of Marketing
1. To reach new customers.
2. To keep your name before current customers. The National Retail Merchants Association states, “Mobility and non-loyalty are rampant. Businesses must promote to get former customers to return.”
3. Because it pays over the long-term. A 5-year survey of more than 3,000 companies found that advertisers who maintained or expanded advertising over a 5-year period saw their sales increase an average of 100%, and companies which cut advertising experienced sales decreases.
4. To generate traffic. Continuous traffic is the first step toward sales increases and expanding your base of customers.
5. To increase sales and profits. Businesses that succeed are usually strong, steady advertisers.
Never advertise for the wrong reasons:
A. Because your competition is advertising.
B. Because the media representative tells you to.
Advertise for the right reason.
To make a sale.
I think I first started looking for a way to compliment my media advertising when I heard my father telling one of his colleagues, “I know half of my advertising works, I just don’t know which half.”
Knowing it would be a sales disaster to eliminate advertising from my marketing plan, I looked for a means of marketing that would compliment my advertising and enable me to gain new customers, retain present customers and lower my marketing cost.
I discovered the top sales producers increase their sales and profits by complementing their advertising with ‘referral marketing.’
It is as true now as it was when the very first commerce began. “The more referrals you get, the more sales you make.”
Use Referrals because:
1. People like to make purchases from businesses where others they know have been successful and satisfied.
2. The cost of gaining referrals is a fraction of the cost of an advertising campaign.
3. All referral marketing costs is the short time it takes to ask for them and an occasional lunch or thank you gift.
4. One satisfied customer can give you a lifetime of referrals.
You do the math. How many satisfied customers do you have? Put your numbers in.
Example:
You have 1000 satisfied customers.
Let’s say only half of your satisfied customers give you referrals. That would be 500. Now you ask all 500 for five or six referrals, but they only give you two.
2 X 500 = 1000 new quality prospects.
Okay, let’s say you are not all that good at closing, so you only close 25% of the referrals. You still have 250 new customers, and it did not cost you a cent. Plus, after you make your new customer happy by solving their needs and problems, they will give you referrals, if you ask them.
5. Most people love giving referrals when they have been satisfied and have had their needs and problems solved by your products and services. People like to help others.
It’s a no brainier:
Combining Referral Marketing with your Advertising is a Big Win.
Gaining and using referrals,
Cuts your marketing cost
Increases your sales
Increases your profits
So why isn’t everyone in business using referrals? Why are only the top sales producers using referral marketing?
I think for a couple of reasons. One, and the most prevalent, is most salespeople don’t ask for the sale, and asking for a referral is much like asking for a sale, although much less stressful because the person already knows and loves you. After all, you have solved their needs and problems. And second, most salespeople, 80%, are just plain not aggressive. Not aggressive because somewhere along the way to modern day selling someone made aggressive a four letter word. Perhaps it was the loudmouthed, pushy prototype salesperson we all dislike and dislike being compared to. But you do not have to be loudmouthed and pushy to be aggressive. All you have to do is make sure your aggressiveness is a benefit for the customers. I call it professional aggressiveness.
Advertising Referrals The Two Big Punches of Marketing - To learn more about this author, visit Bob Janet's Website.
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5 great reasons to advertise:
1. To reach new customers.
2. To keep your name before current customers. The National Retail Merchants Association states, “Mobility and non-loyalty are rampant. Businesses must promote to get former customers to return.”
3. Because it pays over the long-term. A 5-year survey of more than 3,000 companies found that advertisers who maintained or expanded advertising over a 5-year period saw their sales increase an average of 100%, and companies which cut advertising experienced sales decreases.
4. To generate traffic. Continuous traffic is the first step toward sales increases and expanding your base of customers.
5. To increase sales and profits. Businesses that succeed are usually strong, steady advertisers.
Never advertise for the wrong reasons:
A. Because your competition is advertising.
B. Because the media representative tells you to.
Advertise for the right reason.
To make a sale.
I think I first started looking for a way to compliment my media advertising when I heard my father telling one of his colleagues, “I know half of my advertising works, I just don’t know which half.”
Knowing it would be a sales disaster to eliminate advertising from my marketing plan, I looked for a means of marketing that would compliment my advertising and enable me to gain new customers, retain present customers and lower my marketing cost.
I discovered the top sales producers increase their sales and profits by complementing their advertising with ‘referral marketing.’
It is as true now as it was when the very first commerce began. “The more referrals you get, the more sales you make.”
Use Referrals because:
1. People like to make purchases from businesses where others they know have been successful and satisfied.
2. The cost of gaining referrals is a fraction of the cost of an advertising campaign.
3. All referral marketing costs is the short time it takes to ask for them and an occasional lunch or thank you gift.
4. One satisfied customer can give you a lifetime of referrals.
You do the math. How many satisfied customers do you have? Put your numbers in.
Example:
You have 1000 satisfied customers.
Let’s say only half of your satisfied customers give you referrals. That would be 500. Now you ask all 500 for five or six referrals, but they only give you two.
2 X 500 = 1000 new quality prospects.
Okay, let’s say you are not all that good at closing, so you only close 25% of the referrals. You still have 250 new customers, and it did not cost you a cent. Plus, after you make your new customer happy by solving their needs and problems, they will give you referrals, if you ask them.
5. Most people love giving referrals when they have been satisfied and have had their needs and problems solved by your products and services. People like to help others.
It’s a no brainier:
Combining Referral Marketing with your Advertising is a Big Win.
Gaining and using referrals,
Cuts your marketing cost
Increases your sales
Increases your profits
So why isn’t everyone in business using referrals? Why are only the top sales producers using referral marketing?
I think for a couple of reasons. One, and the most prevalent, is most salespeople don’t ask for the sale, and asking for a referral is much like asking for a sale, although much less stressful because the person already knows and loves you. After all, you have solved their needs and problems. And second, most salespeople, 80%, are just plain not aggressive. Not aggressive because somewhere along the way to modern day selling someone made aggressive a four letter word. Perhaps it was the loudmouthed, pushy prototype salesperson we all dislike and dislike being compared to. But you do not have to be loudmouthed and pushy to be aggressive. All you have to do is make sure your aggressiveness is a benefit for the customers. I call it professional aggressiveness.
Advertising Referrals The Two Big Punches of Marketing - To learn more about this author, visit Bob Janet's Website.
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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Jeff FosterWebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. We specialize in internet consulting & internet marketing. - Visit Jeff Foster's Website |
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Stephanie RobeyStephanie Robey is President and CoFounder of Pivot Positive, LLC - an Internet marketing business focused on helping people start work at home ventures. Previously, she was employed at The Search Agency with over 20 years experience in graphic design and 10 years experience in online marketing. She was responsible for launching the Conversion Path Optimization (CPO) unit where she and her team have conducted hundreds of optimization tests for online companies across multiple verticals. She is a successful entrepreneur having started and sold 2 companies and remains on the board of directors of the third, PhotoSpin.com Stephanie began her career in the direct marketing realm creating and producing direct mail for many of the major cable television companies and directly attributes her understanding of Internet marketing to those early offline experiences. Stephanie is a graduate of San Diego State University with a BFA in Graphic Arts and also holds an Executive MBA from the Graziadio School of Business and Management at Pepperdine University. Read Steph's Blog Meet Steph and Dave Sign up for our Free 7-Day BootCamp: Self Employed & Rich - Visit Stephanie Robey's Website |
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Joe DagerJoe Dager is President of Business901, a progressive coaching company providing no-nonsense direction in areas such as Lean Six Sigma Marketing and organized referral marketing. What others say: In the past 20 years, Joe and I have collaborated on many difficult issues. Joe’s ability to combine his expertise with “out of the box” thinking is unsurpassed. He has always delivered quickly, cost effectively and with ingenuity. A brilliant mind that is always a pleasure to work with.” - James R. If you want to learn more about Business901, start a conversation with us. We can be found @ Web/Blog: Business901.com Web/Blog: FundingYourNonprofit.com LinkedIn Profile Follow me on Twitter - Visit Joe Dager's Website |
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Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) In five years, Canadian-born entrepreneur Jay Kubassek went from selling mufflers at a Midas franchise to revolutionizing Internet marketing with the 2004 launch of CarbonCopyPRO, a online marketing education company, now worth over $20 million with customers in over 160 countries.
As an independent film producer, his upstart film fund Aliquot Films is currently producing a films with Spike Lee and Abel Fererra (starring Ethan Hawke and Dennis Hopper.)
Jay's entrepreneurial spirit is irrepressible. He’s the owner of five companies, a professional speaker and trainer, international real estate developer/investor, extreme sport enthusiast and emerging philanthropist. Jay resides in NYC with his wife Jamie, son Milo and dog Cooper. Visit Jay's official website: www.JayKubassek.com - Visit Jay Kubassek's Website |
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