When I’m working with a client to plan their marketing action list, one of the things I always do is take a campaign they’re currently doing that IS working and see how I can increase the payout. Unfortunately, most people don’t have this ability, simply because they never put their mind to it.
For example, when you meet with a prospect, do you ask for a referral? How about after they buy, in exchange for some gift or slight discount? When closing the sale, do you offer an up-sell of some kind? How about a warranty on new equipment or a phone system? How about the opportunity to PREPAY for the year for a 5 percent discount?
When you go to a trade show, do you also make a point of visiting with (prospecting) the other vendors when folks are in the session? Maybe they could be a good joint venture partner or a referral source. They could even become a client for you too. You’re already there, so why not make the most of it? What do you have to lose? Meet with the hotel manager and staff. Walk around other events going on. In almost every case, whatever you’re doing can be added upon if you simply sit and think about how to maximize the opportunity.
Constructing the offer
At a recent Rapid Implementation Workshop, a member told me about a trade show he does every year. He routinely gets 300 leads and about 30 clients, which led me to ask several questions. What are you doing in advance of the show to get more people to your booth? A room drop or maybe pre-event mailing? Next, what are you doing to draw people into the booth? Fresh treats, like a popcorn popper or baked cookies? He WAS springing for a coffee station/barista, which is smart. While people are waiting for their double-foam, extra-hot latte, they’re selling.
Next, what are you doing to get people to buy? What’s the offer? We focused on a camera device (that was a best seller) that he could include a year’s supply of protective sleeves if bought at the show.
What could we offer as an up-sell? How about a second camera for half off or installation and support? IT support? (That’s what he was gearing up to sell.) What do you do with the 240 leads that DON’T buy? Do you follow up with a specific campaign to reiterate the offer? Do you use phone, e-mail, and direct mail coordinated to a specific offer with a deadline? What about collaborating with the event host to see if you can do a post-event mailing or with the other exhibitors to see if they’ll do a promo to their list, in exchange for you doing one to yours?
He wasn’t doing ANY of these things. It took me all of 60 seconds to come up with that list above and I’m sure I could identify many more if I gave it some serious thought. I’m confident he could bump each sale significantly and convert another 10 percent of leads just with those simple strategies. To his credit, he was writing furiously, taking careful notes. My hopes are high for that one!
Now, back to YOU. How about thinking of every marketing campaign you’re doing and brain-storming 5, 10, or 20 ways that you could squeeze more juice from that orange? You’re already there, committing the time and the effort. Why NOT force yourself to come up with a list of ways to multiply the results?
Photo: pathdoc / Shutterstock
