Monday, July 13, 2009

Only three ways to grow business

There are only three way you can grow your business...that's it.

I didn't come-up with that, Jay Abraham did. And it changed the way I looked at marketing, sales and even business development (now if only someone could truly explain why they are different : )

They are:

1. Increase your customers
2. Increase repeat sales
3. Increase sales transaction price

Now all you need to do is test your marketing strategy and tactics against these three objectives. If they don't help you, they're useless.

Sounds easy?

It's not.

First you'll have to fight preconceived ideas about marketing. Yours and those of others. And such ideas are hard to get rid of. We fight to keep them especially if our future is at stake.

Second, they require discipline beyond what you're experiencing today. Good marketing is a day to day effort and can often be seen in the smallest things, not just the big posters.

Third, you need technology to know and understand your customers at that level. And many marketers are risk averse when it comes to this even though they'll be the first to talk about the latest online social tool.

Let's face it: No sales, no business.