Turn on any news station, pick up any newspaper, search any news site on the web and I guarantee you that they all will be talking about the down economy. The media seems to be focusing all their attention on how much money consumers don’t have.
What about focusing on how much money consumer do have? The figures don’t lie. Ninety percent of all American mortgages are being paid regularly and on time. Businesses, especially targeted niche businesses are continuing to push ahead, growing and expanding everyday. Consumers are still spending money.
How does this affect you? It’s simple. Most small business owners and entrepreneurs are losing money everyday simply because they aren’t picking it up off the table. Your leads and prospects want to work with you, they want to give you their money and you aren’t giving them enough opportunity to do so!
Here are the top three reasons you are losing money and how you can stop it right now:
Your prospects are invisible
Let’s face it, when it comes to doing business online, it is all about traffic. All of your efforts in social media, blogging, search engine optimization, advertising, link building and article writing all have the same two end goals in mind:
- To get more qualified website traffic
- To get site visitors to take action
If visitors are not ready to buy immediately, you need them to take action by opting-in to a list, usually for a free giveaway. By doing this, they are giving you permission to contact them with future on-topic marketing messages and you are growing your database of prospects who told you they are interested in your products and services. If you are not actively capturing your prospects information for future marketing, you are squandering an opportunity to convert that prospect who wants to work with you into a customer.
You are letting your prospects slip away.
Once a prospect has opted-in to your list, there is an expectation that you will be contacting them based on your original sales pitch. This is your time to shine.
- You know they want to hear from you.
- You know they want to know more.
- You know they see your offer as valuable.
These are qualified leads. By keeping in touch with them regularly, through email marketing, direct mail, telephone and video, you are positioning yourself as an expert and go-to resource. By combining relevant, personal, and valuable information with a killer call to action your rate of conversion from lead to customer will skyrocket.
You are forgetting who matters most
As entrepreneurs and business owners, you always need to be scouting for and engaging future customers, but at the same time you can’t forget those who matter most – your current customers. Your current customers are have already committed to you and invested in you. The relationship has been created and now it is up to you to nurture and build that relationship. Your time and money were spent to convert that customer. The worst fate would be that they purchase from you one time and then never come back. Don’t waste your investment.
Here are some ways you can use your marketing to engage and retain your customers.
- Promote their business and link to their website with case studies and testimonials.
- Add a customer feedback form to your website. By responding and taking visible action on suggestions you are showing you customers that you value their opinions.
- Show your appreciation! Send them a handwritten message on branded note card, a small gift around a holiday, a branded bookmark, a special customer-only discount on a service or products. Make them feel special.
- Give them props in your social media chatter. You know it is helping your business. Help them out too by giving a shout out and linking to their website.
Now that I have identified for you three ways you can turn your lost opportunities into increased profits, I urge you to take action and make the necessary changes to your website and sales collateral now and stop giving away your profits!