What Declining Sales Really Mean

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Many businesses are currently experiencing a decline in sales. Some owners and executives believe this is due to outside economic conditions. Although the economy may have some bearing, perhaps the real reasons for the decline are more fundamental issues that no one in the company wants to face. The economy has only masked the issues and helped sweep them under the rug.

Many in this predicament think, “If only we could increase sales, everything else would take care of itself.” Oftentimes, the declining sales pattern is not the real problem; it’s just a symptom of other underlying issues. Perhaps the issues are in management, staffing, or a lack of effective marketing and sales.

If your company is experiencing a sales slump, it may be time to do a little soul searching to find the real issues. If you decide to take this head on, here’s a four-step plan to help you lick the problems.

Step 1 — Assess your current situation. What strengths do you see? What weaknesses? Are there opportunities you might be missing? And what are your threats? The more honest you can be at this step, the better the foundation for the rest of the process.

Step 2 — Now that you have an outline of the problems, it’s time to make a diagnosis. What are the causes behind the problems and issues you’re facing? Look beyond the surface issues, and try to get to the root causes.

Step 3 — Now that you have the assessment and a diagnosis of the situation, it’s time to make a plan that addresses your diagnosis by taking advantage of the strengths you identified and establishing ways to correct the weaknesses.

Step 4 — This is where the rubber meets the road. All that analysis will lead to no good unless you follow up with action. It’s time to follow through and act on the plan by implementing the changes outlined in the previous step.

By following through on these four simple but powerful steps, you can not only turn around sagging sales but also position your company for long-term growth.

Effective Lead Generation From Your Local Business Chamber

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Your local business leads group and Chamber of Commerce can be great sources of leads for you and your company. Why can and not are? Because many business owners join and expect the leads to just fall in their laps without much effort on their part. Then they quit and decide that this type of lead generation simply doesn’t work for them. Nothing could be further from the truth.

Paying the monetary dues is only the first step in joining a chamber or business group. Showing up to the events regularly and showing your face is the next basic step. Being friendly and helpful is another basic prerequisite for success. But none of these are guarantees for bringing you prospects and customers. They are the entry ticket. Sadly, many stop with these steps and drop out before giving it a real chance.

What does work?

Consistency — The long-time members and those you would love to have as clients will quietly decide for themselves through your actions whether you’re someone they can trust. Caring enough to show up and be active will go a long way in building that trust. If you can’t commit to doing these basic steps, save your money and don’t join. If your sole purpose for joining is to find leads and someone to sell to, you’ve missed the main point of joining this type of organization. Sure, those are important reasons and by-products of joining, but they cannot be the sole or even the primary reasons.

Attitude — Go in with a truly helpful and positive attitude if you want to succeed. Proactively seek out opportunities to help other members in every way you can, through referring and introducing them to other members, even if those actions don’t directly benefit you. Do this, and you’ll be on the right track.

Active participation — One of the secrets to being successful with your membership is to join committees. Every group will have sub-committees for various needs and functions of the chamber. These may include groups like education committees or new member committees. Not only will you get to interact with other dedicated members in a smaller setting when you join these committees, but you’ll also get recognition and notoriety for your efforts, which will lead to more chances to get to know other members better. This takes time and is a sacrifice, but it’s extremely important to do.

To have real success from your membership, remember that you must give before you get. The more effort you can put in, the more success you can expect. It’s a long-term strategy that has a proven track record for those who can practice one of life’s golden rules.

What is Your Customer Hiding From You?

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In order to sell any kind of product or service, you first need to know the challenges your prospects face, so you can offer the best solution. On the surface, this seems like an easy problem to resolve. You send out a few surveys and questionnaires. You dig and do your research. You think you’ve found the answers. Yet when you build your pitch or presentation around what you think your prospect wants and needs, it falls flat.

Why? Because the prospect is hiding the truth from you.

It’s not done with malicious intent. They’re not even necessarily lying. They simply want to be liked and don’t want to hurt your feelings by telling you things they think you wouldn’t like to hear. Also some prospects don’t really know what they want. Emailed and online surveys aren’t the best at this type of information gathering.

That’s the reason most surveys don’t reveal many helpful answers. The problem isn’t with the surveys themselves, but with the questions and how they’re presented. Most survey questions don’t get to the heart of the matter in order to pull out the answers you’re looking for.

What can you do about this? Pick up the phone!

The best way to get the answers you’re looking for is to call your prospects and engage them in a conversation. But before you do that (and if you don’t want the phone slammed in your ear), do your homework first.

The responses will only be as good as your questions. Your questions need to be open-ended. You must be able to tap into the emotional and/or logical reasons why a prospect would (or wouldn’t) buy your product or service. The more you’re able to get them to open up and give you honest answers, the closer you’ll get to the heart of what you’re looking for. Keep good notes on the data you gather, and review it so you can make the next call even better at intelligence gathering.

Start your call with a very brief description of why you’re calling, then quickly turn your attention to the prospect. Let them know you’re not trying to sell them anything (so it brings down the wall and barriers they automatically put up). State that you respect and value their opinion, which is why you chose them to call. Make them feel respected and special before you dive into your questions.

Once you have your answers, take the time to carefully review all the information. Look for common themes or threads in the answers. If you don’t find any, go back to your questions and reword them to get better answers. Yes, this takes real work. But the end result will be well worth your time. After you analyze the information, it will make your job of creating an irresistible offer that your prospects can’t refuse much easier.

Forget Me Not!

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Just because a customer buys from you a few times doesn’t mean they’ll immediately think of or even remember your business again the next time they need the kinds of products you sell. Here are a few ways to increase front-of-mind awareness for your company in the minds of consumers:

  • Educate your audience about the ways your products are better than the competition. Consider creating a comparison chart to make the differences stand out in people’s minds.
  • Send thank yous for past purchases, and offer future discounts or coupons that are too good to ignore. For example, one might read: “Use this coupon anytime during December to receive 50% off any single item!”
  • Encourage customers to reorder supplies before they run out. A reorder form placed near the bottom of each package you ship is one way to accomplish this. Periodic email reminders and promos based on past order history are another.
  • Provide knowledgeable tips, tricks, and other industry-related information in a newsletter or periodic mailer that will leave recipients asking for more.
  • Invite customers to open-house celebrations, hands-on training classes, or exclusive customer appreciation events.
  • Create a customer loyalty program that rewards visitors for repeat purchases.
  • Offer promotions or giveaway contests that spark interest in the products and services you sell.

Let us know if we can help you create direct mail pieces that will help ensure your business isn’t forgotten!

Promote Your Company’s “EST” Factor

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In today’s competitive marketplace, it’s important that you determine your company’s “est” — the differentiating factor that gives you a competitive edge. Whether your business strives to be the biggest, fastest, strongest, lowest, or oldest at something, the “est” factor will help you push to be the best and become the go-to business for that area of expertise.

Here are a few ways to find your “est”:

  • Ask your customers. The customer voice is a great way to pinpoint areas where your business truly shines. Encourage customer feedback through comment cards, surveys, testimonials, or simply by asking customers their opinions when you meet with them.
  • Identify and enhance your strengths to add greater value to your business. For example, if your business is known for the fastest delivery services in town, you may consider opening a second location, adding additional delivery drivers, or upgrading your computer system to ensure you continue providing the fastest services possible.
  • Accept your weaknesses, and don’t become discouraged by areas where your business falls a little short. For example, if your prices aren’t the lowest, you might say, “We may not have the lowest prices in town, but we offer the longest warranty in the industry to provide greater value for your dollar.”

If you’d like help spreading the word about your “est” factor, we’d love to help. Our professional team can help create some of the greatEST marketing materials with the fastEST service you’ve ever seen!

Is Direct Mail Really Dead?

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You may have heard the hype that direct mail has died and gone to junk mail heaven. Don’t believe it. That talk comes from people who have never learned how to use direct mail correctly and effectively or who have a vested interest in spreading false and misleading information.

Why use direct mail? Because it works.

  • It works in getting clients.
  • It works to get your foot in the door.
  • It works for lead generation.
  • It works for growing traffic at brick-and-mortar (and even online) businesses.
  • It works at differentiating your company from those who rely strictly on online communication.

Direct mail marketing is extremely reliable and extremely precise. It can be inexpensive and personalized. In fact, direct mail arrives more personally than any other medium and can deliver a message with 100% exposure.

In addition to all of this, direct mail…

  • Requires virtually no tech skills
  • Can be leveraged using shared advertising space
  • Is what nearly all recipients prefer for unsolicited advertisement
  • Can bring in business without someone actively searching for it
  • Can be scaled infinitely
  • Has worked for over a century without fail
  • Has always been the king of all advertising
  • Can take almost any business to any level of success desired
  • Can be felt and not just seen
  • Has an infinite shelf life

To be clear, “junk mail” is NOT what we are referring to as effective direct mail. Some companies with large marketing budgets can afford this type of “spray and pray” mailing.

Effective direct mail marketing takes some thought, planning, and strategy. It needs to be memorable, and it needs to stand out. Businesses of all size that are utilizing this powerful tool are still reaping the rewards.

No, direct mail isn’t dead. It’s alive and kicking. If you haven’t tried it in a while, try it again. You won’t be disappointed by the results.

Sometimes Less Really is More

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“There are many things of which a wise man might wish to be ignorant.” -Ralph Waldo Emerson

Your mother probably admonished you as a youngster: “You need to finish that plate of food because there are children in Africa starving right now.” So we have been conditioned to eat even when our stomach is full or even if we don’t really like the taste of the food. The negative side effects surround us everywhere.

Living in this age of access to unprecedented amounts of information, we must be careful not to overindulge there, too. Just as it is harmful to overeat, it is perhaps even more detrimental to consume the incessant amount of unrelated and useless information that fills the web, the airwaves (TV and radio), and print. Just because it’s free to access doesn’t mean it comes without another kind of cost.

This type of cost is more precious than the monetary kind. It’s your valuable time. Unlike money, time can’t be replaced once it’s gone. Like the youngster who becomes conditioned to eat too much, we are becoming conditioned to consume too much information, most of it the useless variety. Many of us need to go on an information diet! How many minutes and hours are wasted daily on email, Facebook, and various news/entertainment websites? Too many.

“Reading, after a certain age, diverts the mind too much from its creative pursuits. Any man who reads too much and uses his own brain too little falls into lazy habits of thinking.” -Albert Einstein

Not all reading or information is harmful, of course. But it is time to stop reading negative and time-consuming information that is not helping you advance toward your goals. If you start reading an article that turns out to be less useful than you thought, no need to keep reading it. Do you have to constantly check your email? Not really. Start taking your time back by going on an information diet today. You will be much more productive and will like the new you the next time you look in the mirror.

Be a Drama Queen!

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Yes, being a drama queen is typically a negative. But there is one instance where it is actually a big positive.

Imagine you are in a stadium filled with your most ideal prospects. You have one chance to present and pitch your product or service. Say the right thing, and every one of them will become a client. Say the wrong thing, and you’ll lose them all. That’s the potential power of communication.

There are many ways to get your message across. You can bore them to death, or you can entertain them. The chances that a prospect will stick around and listen are much better if you do the latter.

People are drawn to those who can share, teach, and even sell something useful. They are most attracted to the ones who can entertain them while presenting.

Like it or not, we live in a society that needs and wants to be entertained. If you want to stand out and succeed, you have to be able to give them what they want.

This is where injecting drama into your sales copy, blogs, direct mail, social media presence, and sales presentations has a powerful and magnetic effect. The best drama has some action and intrigue to draw the audience in. The same is true in business communication. If you take the time to package your thoughts and ideas in an entertaining way, you will be better received. Your audience will want more. The cycle of attraction, conversion, and consumption will begin. And it will continue as long as you are able to inject enthusiasm and some drama into your messages.

Think Small!

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For many years, “think big” has been the theme for many businesses, as they try to compete in a sea of retail giants. However, the tables are turning, and large organizations realize that their audience is looking for more personalized, customer-focused attention, causing businesses to “think small.” Here are a few ways to leverage your natural small business advantages in your marketing efforts:

  • Personal attention. Small businesses are more likely to recognize their customers and provide sincere, personal attention, without customers feeling like they’re just another number in the company’s statistics.
  • Industry experts. Many small businesses develop a narrow market focus and develop a premium reputation for serving that niche market effectively.
  • The power to change. While large companies generally take several months to change company policies, small businesses usually have the ability to make decisions on the spot and implement changes quickly when they feel it is appropriate.
  • Flexibility. Small businesses are more willing to work with customers and do whatever it takes to earn their business, including filling customized requests at a moment’s notice.
  • Customer satisfaction. Because it takes more effort for a small business to build a strong customer base, they also work harder to keep their current customers happy.

When it comes to marketing, don’t hide the fact that you are a small business. Instead, take the opportunity to promote it proudly and show customers the many advantages of thinking small.

Encourage the Customer Voice

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One of the best ways to promote your business is to get your customers talking about you, whether on the streets, via social media, or in product reviews. Here are a few ways to encourage customers to voice their opinions:

  • Create a message board, chat forum, or guest book where customers can create an online community and share their opinions and feedback.
  • Ask key customers to participate in a “customer spotlight” section of your newsletter. Use this feature to help customers promote their business and elaborate on their relationship with your company.
  • Add product review capabilities to your website that allow customers to rank and review your products or services. Send customers a link to an online opinion survey they can take shortly after making a purchase.
  • Start a blog and encourage feedback, questions, suggestions, and sharing of your posts.
  • Offer valuable incentives (coupon, discount, free gift, etc.) as a reason to fill out a survey, and keep surveys short and sweet. This will encourage customers to complete your entire survey… and to answer future surveys when you ask them to.
  • Encourage customers to contact you any time they have questions, comments, or suggestions — and make it easy for them to do so. Include your contact details in your email signature, post your phone number prominently on every page of your website, and send a business card with every letter or mailing.
  • Engage with customers every chance you get. Ask them about their experience, seek their opinion on industry-related topics, and garner their feedback and suggestions regarding your business.
  • Don’t discourage negative customer comments. Negative feedback provides credibility and tells customers the business is confident enough to show a range of customer opinions. Honest feedback and suggestions can also help improve your business.