…that will grow your business IN ANY ECONOMY

Is bringing in new business becoming more of a struggle these days? Wish you could generate more leads and clients without having to deplete your cash reserves in the current economy?

Whether you’re just starting out or have a well-established business, the truth is that some of the most powerful ways to grow your business can be had for free! And these work whether you’re netting $50,000 a year or $10,000,000 a year in business.

Here are three no-cost, high return ideas you can take to the bank in any economy:

1. Give Away Something For Free:

I use this strategy in my prospecting, my sales and in client retention strategies for my service business.  It can be as simple as a free report targeted to a specific audience (pet owners, home buyers, allergy sufferers,  product X owners etc.).  Each week my list of qualified prospects grows. I spent a few days writing the reports, making them look pretty and turning them into an ebook but after that my lead generation costs went to virtually zero using some of the free online and low cost offline lead generating systems.

To generate targeted new client sales and also in our client retention strategies we use free giveaways from simple produce samples all the way up to completely free services to persuade customers to try us …or try us again  (NOTE: it’s then our job to implement our Extreme Client Experience process so they can’t help but purchase other services and become Rabid Referral Resources… but that’s a topic for another day.)

Consider this article that ran in Business Week last year about Chipotle’s successful giveaway marketing strategy. The fast food restaurant chain has handed out tens of thousands of free burritos and tacos as way of building a loyal clientele.  In just one day Chipotle gave away 6,000 burritos when they opened a mid-town location in Manhattan.

This customer-satisfying strategy cost them $35,000, just about the same amount they would have spent for a half page black and white ad in The New York Times.

Let your prospects sample your ideas or your products. It’s the fastest way to help people understand the value of what you provide, to trust you and to want to do business with you. Chipotle has leveraged this strategy to become one of the fastest growing restaurant chains in the US. Imagine what this marketing strategy could do for you!

2. Create COMPELLING Offers:

Your offers need to grab your prospect’s interest and prompt them to act right away. As we have stressed, people buy your products and services based on THEIR perception of value. Whether you are charging 20 bucks or twenty thousand, your prospects need to be convinced that the benefits you provide will outweigh the cost.

Creating a compelling offer can sometimes seem like more of an art form but rest assured it is pure science, and the basics are all you’ll probably ever need to dominate your market.

An absolutely essential book to read on the subject is Claude Hopkins “Scientific Advertising” first published in 1923. We have provided an ebook copy available to our members in the members’ only resource center on The Marketing Maniacs . com website.

To stimulate sales you must place your offer in the context of your target market’s concerns. Once you’ve clarified how your product or service meets their concerns the value of your offer will be apparent.

Consider master copywriter Gary Bencivenga’s Persuasion Equation when crafting your recession busting, compelling offer.

You need:

  • AN URGENT PROBLEM:
    an already perceived fear or anxiety that you can help solve
  • A UNIQUE PROMISE:
    Tell them how your service or product is uniquely capable of solving their urgent problem. Talk in the terms of the BENEFITS your product or service offers from the customers perspective as opposed to the features it has.  Remember people don’t buy new shoes because they want xyz stitching or the new space aged material on the sole. Nope, they want the benefits that the new shoes will bring – things like; pride of looking good, to be in style, to keep their feet dry, to be comfortable when walking –running – hiking… you get the idea.
  • UNQUESTIONABLE PROOF:
    This usually comes in the form of real, honest, signed testimonials, celebrity endorsements, and you free resources and advice.  Theses all help to show your authority and your specific expertise so that the prospect can begin to build trust in you and your offering.
  • A USER-FRIENDLY PROPOSITION:
    That goes back to your free trial, free added gift, added features or package upgrades at no extra cost, complimentary assessment and solution report etc. This is a matter of A/B testing to find better and better propositions that hone in on your target audiences key psychological triggers. Your “HOLY CRAP THAT’S FRICKIN’ INCREDIBLE” guarantees also help make your propositions User-Friendly.

With each of the above items in place you can create an offer that will sell in almost any economic environment

3. Get Others to Promote Your Business for You

The goal in marketing is to reach more prospects, get them to trust you and understand the value of your products and services. What’s the fastest and least expensive way to do this?

GET OTHERS TO PROMOTE YOU!!

I know we stress this a lot but it’s worth repeating…

“No matter what you’re product or service there are other businesses that offer non-competing products and services to the same target market.”

So go out there and join forces with them in a joint venture (JV) relationship and get them to promote your company.  You’ll instantly extended your reach, leverage the trust and relationship they have with their list so all you need to do is clarify the value of your service or products.

So how do you find other businesses willing to promote yours?

Well, we obviously have developed specific campaigns for our members that will add a steady stream of JV referred work in the door but you should always be on the lookout for simple JV relationships to add to your marketing mix as well.

Let me give you a few examples to get your juices flowing.

If you’re an athletic trainer for example, why not ask around to see who in the sports massage or nutrition counseling business are possibly worthy JV partners. Make a list of possible candidates in each category, give them a call and see who is interested in partnering with you to promote each other to your own house lists.

Or if you own a web site that sells shoes, you could offer a $25 discount coupon with each sale over $75 that your customers can use at another site that sells socks, and vice a versa. You both generate more sales and make more money without actually spending a penny.

Each time you partner with a business that has a broad customer base, you’ll dramatically increase your sales and profits and you both could literally double your clientele …oh and you’ll do so virtually for free.

There are obviously dozens of other strategies we teach to position and expand your business. Strategies that work whether you’re just starting out or you’re growing a well-established business but the three listed here should, in our opinion, form the backbone of your marketing plan because they will go a long way in helping you continue to aggressively grow your business regardless of what state the economy is reported to be in.

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