3 ‘PROFIT TWEAKS’
That’ll Help You Elevate Your Business In 2020!
The holidays are now upon us. It’s a time for many small-business owners and entrepreneurs to take it easy a little bit and allow themselves to be immersed in seasonal festivities. But the last thing you want is to find yourself on Jan. 3 wondering, “How in the HECK am I going to grow my business in 2020?” That’s why I’m going to give you three of my best tips that you can implement right now so you’ll be well positioned when your prospects and customers return to “real life” after the holidays.
You’ll want to speak to these segments in different ways. For example, the business owner who wants to scale would be more interested in information and products that show them how to hire “A-players” to their team. A business owner who is just starting out wants to attract their first critical mass of customers and would be more interested in products or information that helps them get more exposure. A great way to segment your list is to create different lead generators for CDs, white papers, books, webinars, etc. I recommend inserting a free-standing insert (FSI) like this one in a newsletter with a free offer that goes out to your customers and prospects. For example, you could send out an FSI for a free report on how to attract more customers to your list of business owners in the scenario above. People who are in “growth mode” in their business will respond and be perfect candidates for a higher-end offer that helps them attract more customers. You can then run a different FSI the next month targeting business owners who are ready to scale by offering a free report on how to hire top people for their team. They’re already attracting all the customers they can handle, unlike the business owners who are just starting out. Their biggest goal is to put the right people and systems in place so they can keep growing while keeping operating costs down. Using a newsletter bundled with an FSI to segment your list is smart business. By the middle of the year, you’ll have a better understanding of who’s on your list, and you’ll be able to create specific offers for these different segments. All this is bound to boost your profits.
2. COLD MAIL YOUR NEWSLETTER
I’ve seen this work over and over again for different industries. All you have to do is create a list of prospects who would be an ideal fit for your business and send out a monthly newsletter. This is a great way to generate new leads and business. You’ll also come across as a “welcome guest” to your target audience because you’re sending out a newsletter that’s chock-full of awesome content. This is more effective than sending out a sales letter, postcard, or other marketing material designed to get your target audience to respond immediately. Now, mind you, the direct approach does work, and you’ll get a small percentage of people who need your product or service now to respond. But mailing a newsletter for a period of, say, 12–24 months to your ideal prospects will keep you top of mind so they’ll think of you when they need your product or service. So, essentially, mailing a newsletter every month to cold prospects is more of a long- game approach to attract more business without coming across as pushy. It allows you to build a relationship with your target audience so they’ll trust and like you. And, after all, people buy from individuals and businesses they know, like, and trust.
1. SEGMENT YOUR LIST It’s amazing how many business owners and entrepreneurs don’t segment their database. The best they’ll do is create a “prospects” and “buyers” list, but you can improve the customer experience and increase their chances of converting. The truth is that the people on your list have different interests and needs. For example, if you’re selling information products to business owners, there will be people who are just starting their business and others who have an existing business and want to grow and scale.
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