Tag: Small Business Promotion

Stop Wasting Your Marketing Budget!

Today you’re going to learn how to find a target market of potential customers so you aren’t wasting precious resources on blitz marketing. So, the two questions you have to ask yourself are:

  • What do people really want to buy from me?
  • What related products are they already buying?

Once you figure this out you will know who is more predisposed to purchase your products/services. Then, you find other businesses with the same customer base who you can customer share with. Come up with an incentive and great arrangement to encourage both of your customer bases to shop at both of your stores.

The basic concept is this:

You want to find existing businesses who have the customer profile that you are looking for to market your products/services to.

Then strike up a relationship with those business owners to work out an incentive for customers to purchase from both businesses.

As a result, you have an audience to market to and they generate an added value from their current base.

So, how do you figure this out? There is a great formula from Jay Abraham you can follow with great success.

LV = (P x F) x N – MC

Here’s what it all means:

  • LV is the lifetime value of a customer
  • P is the average profit margin from each sale
  • F is the number of times a customer buys each year
  • N is the number of years customers stay with you
  • MC is the marketing cost per customer (total costs/number of customers)

Once you know how much you need to spend to attract a new customer, you will know how much of an incentive you can offer to a business to help attract new customers.

So, here’s your step-by-step process:

  1. Find companies who already have the customer base you are looking for.
  2. Negotiate an incentive for them to share that customer base with you.
  3. Focus your marketing resources to this group of predisposed customers.

If you need help working through this process, check out our FREE test drive for the most comprehensive system of small business marketing tools and resources.

Houston-Based RevSherpas LLC Announces New Strategic Consultancy for Small Business Owners

Global CRM strategic advisor and author launches boutique customer experience management consulting agency to aid in the adaptation of more remote business operations

HOUSTON, Texas, May 20, 2020 (SEND2PRESS NEWSWIRE) — As many small businesses face uncertainty surrounding restructuring and are being forced into new operating paradigms like remote commerce, one consulting firm has launched to fill the desperate need of a revenue growth acceleration strategic advisor.

As a new consulting and coaching agency, RevSherpas LLC aims to assist business owners by utilizing their deep experience in strategic customer relationship management (“CRM”) and customer experience (“CX”) transformation to deepen client loyalty and elevate business performance.  The Houston-based agency is now offering consultations and services through remote servicing via phone, video conferencing, and screen shares. Unlike other generalist consulting firms, all service offerings specialize in advancing the customer experience and CRM systems and processes for companies.

Founder Kevin Wessels leads the company with 10+ years of strategic sales and marketing consulting experience. His expertise focuses on accelerating revenue growth and optimizing cash flow for business owners via customer engagement strategies and tactics in client attraction, acquisition, retention, and reactivation. Proficient in Spanish, he is also uniquely qualified to serve a vast array of clients with unique customer bases.

We specialize in helping business owners or sales and marketing executives overcome the myriad challenges currently presenting themselves during this COVID-19 epidemic,” states company founder Kevin Wessels. “Our mission of being client-focused is something we stand by.”

He adds, “Not a day goes by without small businesses closing and global brands adjusting their future quarterly – even annual earnings forecasts significantly down due to widespread supply chain disruptions and dampening customer demand. We have the tools in place to address these challenges head on.”

RevSherpas’ goal is to support business owners and marketing executives who need to overcome the specific challenges presenting themselves in the wake of the current pandemic. They help their clients achieve the aforementioned benefits in order for their companies to be sustainable, adaptive, and excel in a more remote environment.

About the Company:
RevSherpas LLC is a Houston, Texas-based boutique consulting agency focused on educating, empowering, and enabling small to mid-sized businesses to exponentially outperform in any economy, transform from industry laggards to leaders, and dominate their competition. The company’s customer experience consulting and business elevation coaching services accelerate revenue growth and increase client retention for business owners, CMOs, and CIOs throughout the US, Canada, and Latin America.

For more information regarding RevSherpas, please contact Founder & Managing Director, Kevin Wessels directly at 1-800-569-1374 or via email at kevin@revsherpas.com.

To learn more about the company and the remote consulting services being offered, please visit https://revsherpas.com for more details.

Franchise Prototype 101

In our  last post we talked about the first three of the seven specific areas you need to consider in your franchise prototype process. As a refresher, here are all seven again:

  • Primary Aim
  • Strategic Objectives
  • Organizational Strategy
  • Management Strategy
  • People Strategy
  • Marketing Strategy
  • Systems Strategy

These seven pillars form the foundation for the growth and ongoing success of your business. Now, we are going to cover the last four.

Think of constructing your business model like planting a tree. At first, it’s so small and weak you wonder if it will even make it through the night. Yet, you keep watering, fertilizing and nurturing it. Your ideas will grow the trunk and each of these strategies will extend out as the branches of your now strong tree. Finding the perfect support staff, employees, vendors/suppliers and other relationships will make your tree flourish with leaves and flowers.

Management Strategy
The way you structure your management team is not only essential to your growth, but the happiness of your employees and, ultimately, your customers/clients. This strategy is results-oriented and doesn’t depend on the people, but the actual system that’s in place.

A management strategy is, in short, a set of standards that includes goals, rules, a mission statement and other concrete guiding principles that tell your employees how to act, your management how to grow your business, and your customers/clients what to expect. These should all be in perfect alignment with your business goals.

People Strategy
You need to put together a people or “employee appreciation” strategy that shows your employees how you feel about their job performance and dedication to your business. They also need to understand “why” they are doing specific tasks. This helps them to personally connect to their job which, in turn, leads to better production and a happier workplace.  There are a number of strategies you can use to keep work interesting and to heighten and maintain employee engagement:

  • Short-term Performance Reward Contests
  • Long-term Performance Incentive Programs
  • Employee of the Month
  • Performance/Holiday Bonuses

These are just a few of the ideas you can use. One of the best ways to appreciate your employees is by calling a meeting and asking them how they would like to be rewarded.  Think about it for a while and put the best idea into play. Keep it fresh and change up the reward and recognition program you use from time to time to keep your employees guessing. Once they get used to the prize, it’s time for a whole new approach.  You need to build a community within your company. There needs to be support, appreciation and respect. The more “at home” an employee feels, the better they will perform and the more loyalty they’ll have.

Marketing Strategy
Marketing is, of course, essential to the success of any business, but it also must work cohesively with the other strategies you’re using. There are two major components of a successful marketing strategy:  1) the demographic profiles and 2) psychographic profiles of your customers.  The psychographic tells you what your customers are most likely to buy and the demographic tells you who they are, which can help you learn why they buy specific items. Without this information, it simply doesn’t matter how good your business prototype is.

Systems Strategy
There are three types of systems in every business:

  • Hard Systems
  • Soft Systems
  • Information Systems

Hard systems refer to inanimate system or systems that have no “life”, such as computers, in-house servers, storage devices, or other capital equipment.  Soft systems are those that could be living. Information systems which are, of course, everything else, including customer data, product information, financial…anything with data and numbers.

The most important of all three systems is the soft systems because it includes the sales and training systems your business uses. In your sales system the two keys to success are: structure and substance. Structure being what you sell and substance being how you sell it.

All three systems are essential to the success of your business.  While they all have their own very specific roles, they all must work together to get the job done. This also goes for your entire business development program.

On that note, I want to take a moment to recap the main themes we’ve covered in the recent business development lessons from our blog.

First, we explored the entrepreneurial myth, or e-myth, is an assumption that anyone can succeed at business with:

  • Desire
  • Some capital
  • A projected targeted profit

Next, we covered the essential three key roles that need to be filled to set your business up for success:

  • The Technician
  • The Manager
  • The Entrepreneur

Then, we highlighted the four different stages of a business life cycle are:

  • Infancy
  • Adolescence
  • Growing Pains
  • Maturity

Also, we illuminated the three core concepts of the franchise model, if you are considering that path to expand your business:

  • Business Format Franchise
  • The Franchise Prototype
  • Franchise Prototype Standards

Additionally, we addressed the three main areas of business development:

  • Innovation
  • Quantification
  • Orchestration

Lastly, we specified the seven areas you need to consider in your franchise prototype process:

  • Primary Aim
  • Strategic Objectives
  • Organizational Strategy
  • Management Strategy
  • People Strategy
  • Marketing Strategy
  • Systems Strategy

We can help you define, design, develop, and deploy the appropriate business model and business development strategy and processes to turbocharge your business and leapfrog your competition. Please contact us to learn more about how our innovative, proven e-Marketing platform and business elevation coaching services can take your business to the next level.

Lessons I Learned from Kim Kardashian

Today we’ll talk about shameless self-promotion. That’s right, I said it! Shameless! After all, we are learning from Kim Kardashian here.

It’s all about self-promotion! Self-promotion comes in many forms and you can use different tactics to get your name out there. Look at politicians! Talk about self-promotion and in some not so discreet ways, at that. But, seriously, consider some of the major superstars and public figures we all know. Lady Gaga, Donald Trump, Oprah, Elon Musk, and LeBron James, just to name a few.

We all self promote. Did you raise your hand in class to show the teacher you knew the answer? Of course! That’s self-promotion. This is the kind of self-promotion we are talking about. With dignity, class and the knowledge to back it up. If you self-promote only to prove you don’t really know what you’re talking about, you’re going to lose business.

Natural self-promoters are the former and I want to tell you about the three major traits they have and use to build themselves and their businesses.

  1. The first is position. You need to position yourself around people who can make a difference in your life. You need to do this frequently. You need to wake up every morning and ask yourself “Who can I meet today who will make a difference in my success?” In fact, go a step further, write it in big, bold letters and tape it on your bathroom mirror.

Also consider:

Who can help me meet my goals?

Is it a prospective customer/client? A colleague with contacts? An association with key members who may become prospects?

Don’t settle into interacting with the people who are the easiest to access. You need to reach outside your comfort zone and there you will find a wealth of new connections that will bring you great success.

  1. Now, let’s talk about Style. No, this doesn’t mean you need an Armani suit to bring in more business (though, let’s be honest-it wouldn’t hurt). What this really means is how are you different from your competitors and others in your industry. What makes you memorable with customers?

If you are meeting a lot of people and they don’t remember you once you leave the room, you have a serious problem! This means you have an opportunity to present yourself in a more memorable way.

There are lots of little subtle changes you can make. Reassess your:

  • Business cards
  • Company message
  • Your picture
  • Your wording

Maybe even, your hairstyle (of course, now we’re back to the expensive suit, but it really works!)

You get the idea. There are lots of little ways you can work on making your image and business more successful. Also, consider how you sound on the phone and how you greet people at meetings or other events. Think about your 30-sec elevator speech.

  1. The third trait of natural promoters is repetition. You can’t say it once and leave it at that. Successful self-promoters say it as many times as they need until they get a response. Would you remember a commercial for Coca-Cola if you only saw it once, no! You see it over and over and eventually you head out to the store.

You, also, have to make multiple impressions on those you are networking with in order to build brand awareness. Repetition is in direct connection with positioning. Once you find people to network with, reach out and find hundreds more who can help in your success as well.