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| Volume 2, Issue 2/Newsletter courtesy of Electronic Document Service, Inc. |
August 2000 |
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Seven Marketing Rules
That Must be Broken
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By Jim Mullaney
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here are many marketing experts who tell us they have the answers on how to market your small business. In many cases their advice is based on past proven marketing techniques. Y2K is a completely different business climate, however, and methods that were effective in the 90's just don't work any more. It's time to realize there are new rules. Here are seven rules, still being taught, that are no longer true:
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Rule number 1: 80% of businesses will not buy from you. The point being made here by outdated marketers is that you should not get discouraged while making those cold calls and face rejection time and again. The truth is that those prospects in the 80% category will buy from you if the timing is right and the resources are available, provided they remember who you are. The new rule is to keep your prospect list up-to-date and stay in touch.
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Rule number 2: The only reason to go on a face-to-face sales call is to close the sale. That might be true of those sales people who "hit-and run," that is, those who make their living consummating the sale and walking away, possibly never to be seen again. The Y2K business environment does not allow that. We can't sell anything any more, we must let the prospect buy. In order to achieve a sale today, there must be a high degree of trust. The real reason to go on a face-to-face sales call is to build a rapport and start working on that trust relationship. What is needed is the establishment of a long-lasting business relationship that will continually benefit both you and your client.
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Rule number 3: Always make several contacts during business networking events. Have a specific number goal in mind and keep moving during the event. This advice couldn't be more off the mark! Remember, business is now done through relationships. Relationships count more in today's business environment then quality, service, and price combined. The objective for these events is to make a few contacts (this could be as few as one) and get to know them personally; establish a rapport. New business people often mistakenly think that the only contact to make at these networking events are those who could potentially buy from them. Well, I have news for you. Sales prospects are not the only important contacts to make in this day. Succeeding in business today requires a well-rounded network. Besides business prospects and clients, this network includes mentors, referral sources, door openers, and non-competing business partners. You are not going to recognize these other important contacts or make any kind of impression with business prospects if you flutter around the room trying to achieve your number goal. |
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Rule number 4: It's a numbers game. The more cold calls you make, the more business you get. A stockbroker I do business with, told a group at a breakfast meeting we attended recently that he used to believe in this concept. One time he committed himself to making 1,000 cold calls. He remained true to his commitment and made all 1,000 calls - and not one appointment! Today, your client and prospect list is your most important marketing asset. Keep your list up-to-date, communicate with your referral contacts regularly, and send a meaningful (credible) message to your prospects on a consistent basis. Do this properly, along with good business relationships, and business will come to you!
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Rule number 5: You must have a quality (expensive) logo and marketing materials to present a proper image. A client of ours shared with me the fact that he spent $29,000 a year ago on a logo design and expensive brochures that have added virtually nothing to his business. He was led down that path by a marketing consultant, and he is very angry! It's the product and the message that counts, not expensive packaging. There is no need to break the bank with expensive materials. The key to effective marketing is to identify the affordable mix of direct and indirect marketing methods that will get you the return you desire on your marketing dollars.
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Rule number 6: Telemarketing is effective. Telemarketing brings negative attention to your company. It only makes people mad and most telemarketers do a very poor job. Telephone follow-up on the other hand is effective. Before launching a telephone campaign, be sure you are working from a personalized contact list and send a mailer or other communication in advance of the calls. Make a promise in the mailer that you are going to call and simply follow up to review any interest you or your prospective client may have. And what is the purpose of the call? You got it! Establish a rapport. How many telemarketers do that?
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Rule number 7: Newsletters are not effective unless they are written to a specific audience and the content is directly related to your business. Newsletters must be informative, brief and unselfish. The "buy-from-me" variety of newsletter gets pitched. We are also told to exercise great care in choosing paper and color. Here again, that is bad advice. It is the readability, and interest the articles generate that count. The correct content, sent in the correct way, in a plain black-and-white format can get you tremendous exposure. Spend the time to get it right, not money just to make it look good. |
Jim Mullaney,
President
Electronic Document Service, Inc.
(513) 829-7101
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EDOCService-Impact Marketing Workshops 10/24 and 10/26
We keep your marketing program on track!
Electronic Document Service, Inc.
Marketing Support Services
5933 Coachmont Drive
Fairfield, OH 45014
(513) 829-7101 Fax (513) 829-5866 http://www.edocservice.com
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