Monday, August 30, 2010

BIG COUPON SECRET


You see coupons everywhere, in every type of business. Consumers clip and use them, and they must be a part of your advertising, too. But, here’s the BIG secret about coupons . . . (Shhhhhhh) . . . most people forget to use them at the time of purchase. For proof of this look at your refrigerator, if you’re like most consumers, you’ve got a pizza ad there with the coupons still attached at the bottom, but you’ve ordered pizza several times!

So why use coupons if people forget to redeem them? First, people sort their mail over the trashcan and attractive coupons with valuable offers keep your mailers from going there. Second, coupons used as a part of magazine & newspaper-display-ads do attract attention and get clipped. Basically, coupons make your ads “keepers.” People really do intend to use them, and some will pick up the phone and call you to place an order. But, at the point of purchase most simply forget to redeem the coupon. Incidentally, the national average of coupon redemption is a meager 3%.

So, what should YOUR thinking be about designing coupons that will actually get used? Next tip, I’ll tell you how smart business owners think.

Monday, August 23, 2010

UNDERSTAND YOUR CUSTOMER’S LIFETIME VALUE


Do you know the value of your customers? You MUST! Most are busy trying to get NEW customers without understanding that it is less expensive and more rewarding to keep a customer than to get a new one.

To start, you will need to know the average sale per customer, the average number of times per year they purchase, and how many years an average relationship lasts. You may not know the exact amount of the acquisition and maintenance costs, but I recommend estimating on the high side. The number of referrals will vary over the life of a customer based on the industry.

Example:

- Average Sale: $100

- One sale per month for a year: $1,200.00

- 10 years average relationship: $12,000.00

- Acquisition cost: less $100 = $11,900.00 remaining

- Maintenance cost: less $100 = $11,800.00 remaining

- 5 referrals and their value - $59,000.00

Those who really understand the Lifetime Value of their existing customers will work the hardest on customer retention, customer service programs and they will do a lot to stay in touch and reward their existing customers. Do YOU?

You see coupons everywhere, in every type of business. Consumers clip and use them, and they must be a part of your advertising, too. But, there’s a BIG secret about coupons that you don’t know. Next tip, I’ll tell you the secret!

Monday, August 16, 2010

KNOW YOUR ADVERTISING OBJECTIVES


Direct response marketing guru, Dan Kennedy, points out what your thinking should be regarding your advertising objectives. Objectives should be:

1. To attract immediate, measurable response (affordably).

2. To sell or directly, measurably lead to the sale of products and services (profitably).

3 To clearly and memorably communicate a marketing message engineered only to facilitate #1 and/or #2.

4. Possibly to “set up” additional, future response from follow-up advertising or marketing (as a secondary dividend).

5. Possibly to ad to name/brand identity (as a third dividend.)

Do you know the value of your customers? You MUST! Most are busy trying to get NEW customers without understanding that it is less expensive and more rewarding to keep a customer than to get a new one. Next tip, I’ll give you a formula that will determine a customer’s true lifetime value. You are going to be SHOCKED!!

Monday, August 9, 2010

HIDDEN MESSAGE EMPLOYEE PHOTOS


Your employee photos are sending subliminal messages! This is known as body language and it is sending a message all by itself that most people will subconsciously pick up on -- it could affect their buying decision.

Here’s the rule to remember: When a subject is leaning toward the viewer, he appears more dynamic, more assertive, more positive, and appears to have a leadership quality. On the other hand, if he is leaning away he appears just the opposite, and if his head is cocked to the right he appears insincere, unsure of himself, less intelligent, and even unprofessional -- all this because of poor cropping. Most don’t know this secret however; so don’t feel bad if you’ve missed it until now.

Next tip, what your thinking should be regarding your advertising objectives.

Monday, August 2, 2010

7 “MUST” RULES TO REMEMBER


Remember the rules for designing a direct response ad that is more than a tax deduction (in other words, it works!):

1. You MUST STOP your prospects with a compelling self-interest headline.

2. You MUST Hold their interest through the entire copy.

3. You MUST create desire by offering them as many benefits as possible.

4. You Must prove that your offer is filled with value.

5. You MUST make it easy for your prospects to act.

6. You MUST give your prospect a reason to act immediately!

7. You MUST eliminate your buyers fear by giving them a strong guarantee!

Your employee photos are sending subliminal messages! Most people will subconsciously pick up on these messages -- it could affect their buying decision. Next tip, I’ll tell you how to spot them and what you must do.