Marketing strategies to overcome the current economic trend
The most "expensive" part of running a business is normally employees, so typically firing under-performing employees or external contractors is the first step most businesses take to reduce cost and therefore reduce risk.
Typically the second thing to go is the marketing budget. If you're small, this might mean reducing your Google AdWords budget or letting go of your outsourced public relations company...
In this month's newsletter I want to demonstrate practical examples of how you can survive (and even prosper) during a recession by putting various online marketing methods to work for you.
Yes, some of the ideas I'll discuss do involve our products, but when used correctly you'll generate an ROI significantly higher than what you've invested, and can continue to do so at will whenever you need more sales.
Think about it this way - if your competitors are reducing their marketing budget and you're not, who do you think will have more reach and a better shot at winning more customers?
Building Trust With Autoresponders
Product required - Interspire E-mail Marketer or other autoresponder software
If you're a small business then you might not be able to demonstrate the level of trust that your larger competitors can. What you can offer, however, is useful information which is relevant to your prospects - which will lead to an increased level of trust and therefore sales...
Most people will only buy from businesses they trust, so if you can't boast that you have thousands of customers or a best selling product, then you can build up trust over the period of a few short weeks using autoresponders.
To do this, you need to write a series of about 10 emails which will be sent out automatically to people on your email list over the period of about 2-3 weeks.
Your main focus with these emails is NOT to sell or promote your products or services. It's to provide your subscribers with practical, useful information which they can get immense value from.
Over the period of a few weeks they will use and hopefully implement the valuable information you're (automatically) sending them. The law of reciprocity will kick in, and they will want to "return the favor" by doing business with you.
Compare this to the way most companies go about trying to win new customers, and you'll see why it works. It's "selling without selling", and your prospects will be grateful that you've taken the time to provide them with useful information instead of simply pitching your products or services to them like everyone else does.
Here are the exact steps to take:
1. Come up with a compelling reason for people to join your list
In order to send emails to someone, they first have to join your list. You need to come up with a strong reason for them to do so, and the best way to do this is to ask yourself "what one thing can I offer to prospects that will bring them the most value?"
Use this one thing as the anchor for your "join my list" page, and try to evoke curiosity by mentioning the benefits they will receive when they join your email list.
2. Create your series of 10 or so autoresponder emails.
The emails can be short, but should be personalized with the subscriber's first name and include useful information which they can use. For example, if you sell web design services then you might send a series of emails with advice on how to build a professional web site affordably.
3. Talk about your products or services in the FINAL email only
Your subscriber has received 9 emails from you over the last 2-3 weeks, and the information you sent them is useful, so they look forward to hearing from you...
If you've done it correctly then they've started to trust you, because you've given them valuable advice for nothing - something 99% of businesses don't do because they don't understand the psychology of the buying process...
Your final email should still include a heap of useful, non-sales-pitchy information, but you should add a "P.S." after your signature which subtly mentions your products or services.
Over a 2-3 week period we've provided this subscriber with a wealth of useful information without mentioning ANYTHING about our products or services and without asking them to buy anything.