The Seven Pillars to Grow a Business

Many small businesses fail to grow in this nation of ours. What exactly causes this?

Well, there are three ways to grow a business:

1) Increase customer count.

2) Raise the average sale per customer.

3) Increase the conversion rate for sales.

Here is one answer as to why a business can fail in any or all three of the above business growth scenarios…

They lack in one of the seven pillars of business growth:

1) A well defined U.S.P. (Unique Selling Proposition). Ask yourself this put a question to…Why would someone want to decide to do business with me instead of my competitors? Your answer is the first part of your U.S.P. Many businesses fail to carefully define “who they are” in the business world, and simply continue selling their product or service until the money runs out.

A couple of examples of companies with high – quality U.S.P.’s are Fed – Ex and Dominoe’s in the 80′s. Do you remember? “Find fresh, hot pizza delivered in 30 minutes or less…or it’s free.” How about “If absolutely, positively, has to be there overnight.”

Those are just a couple of qualified examples of the Recent Selling Proposition. What is yours?

2) Integrating that U.S.P. into their entire business. Everyone, everything, and all messages have to live and breathe the U.S.P. that is developed. Sales training may be primary to ensure your staff is on board with your fresh message. If not, this will extinguish conversions…and decrease potential and future sales.

3) Databases and contact with that customer database. How often do you follow up with your customers that have bought from you? What about those potential clients that have not bought from you yet? Is there structure? Back end sales to current customers? A killer marketing system for generating referral business and additional sales? These are crucial to growth in a business. Lacking in this situation will mean that you constantly have to source new customers to make money in business…and that process is getting more and more expensive as we continue.

4) Joint Alliance marketing. Working together with similar, non-competing businesses that have access to resources that you do not is probably one of the biggest “secrets” to growing a business. One of the main resources is a large customer list, or list of targeted customers.

For example…in my business as a Marketing Consultant, I have partnered with an accountant (who knows the business of my clients) and asked them to send a mailing to their list of customers to conduct a seminar that I normally charge $495.00 to put on. As a gift to the accountant’s customers…I do this seminar on for only $29.95 per attendee, so the accountant was giving a gift to their list of gaining additional business for their clients. Also, I offered this accountant 25% of any initial fees I collected from new clients I gained from this partnership. As this accountant’s client’s businesses grow, the accountant benefits from additional business…less collections…etc…

No risk for the accountant, and all benefit. I gained modern clients for very slight cost, the cost of postage and postcards that I had developed for $19.95.

5) Community Marketing, or Public Relations. Can you create a news story that involves your business or related topic? Anytime you can deliver news to the media, whether it be radio, t.v., or the newspapers…and it is estimable, you score PR value for your business. The key here is not to directly promote your business in any way, or your press release will kill up in the trash.

6) Direct Marketing, single or multiple product. Here is where it gets pretty good…you can add multiple income streams or simply generate business directly using this pillar of growth. Direct Marketing is using a media make such as postcards, letters, or internet to generate a direct response to your business. This step requires that you master the art of copywriting, so that your client pool is persuaded to say “YES” to your offer.

7) Internet Marketing, and the business’ website. We are in the 21st century, so any business that fails to develop at least a lead – generating website will lose out on a very lucrative opportunity to manufacture money. Anything you can do offline…you can do online…so the opportunity lies to increase all three of the items listed at the very beginning of this article on the web.

Master all seven of these fundamental business – growth areas…and watch the cash start rolling in.

******************************************************************************************************************************************
Joseph Ratliff is a professional marketing consultant, copywriter, and author of The Profitable Business Edge.

Using a proprietary, step by step marketing system that uncovers hidden marketing assets in a business and exploits them for
quick increases in revenue…he is willing to share over 17 years of experience to pursue your business dreams.

You can visit Joseph on the web today at http://www.profitpartnersconsulting.com to investigate the Marketing Opportunity Analysis.

*****************************************************************************************************************************************