"Change Is Threatening Your Business"
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Change Is Threatening Your Business
Copyright 2005 Bob Leduc
You cannot grow a business today by simply repeating what
you did successfully in the past ...or even recently.
Clever competitors and new technology are producing changes
that will reduce the effectiveness of your current
marketing efforts. These 3 strategies enable you to
overcome this threat - and continue to grow your business.
1. Keep Testing New Advertising Methods
The first impact of change is often a shrinking return on
your response from proven advertising methods ...followed
by a decline in the sales they produce. Don't wait for this
to happen before taking action.
Continually test and evaluate the effectiveness of
everything you use or do to promote your business. Test new
marketing methods - and old ones you never tried before.
Replace less effective marketing methods with the more
effective ones you discover with your testing.
Tip: Invest 80 percent of your advertising budget and
effort in proven promotions and 20 percent in testing new
variations. Most businesses using this system continue
growing - even in highly competitive markets.
2. Keep Opening New Markets
Never stop looking for new markets you can serve. Every new
market you open increases your sales ...and helps insulate
you from the impact of change.
Changing market conditions or an aggressive competitor may
cause your sales to drop in one market. But the impact will
not be devastating if you have a variety of other markets
producing results for you.
Tip: One quick and easy way to find profitable new markets
is to sub-divide your current market into several narrowly
defined niche markets. Then customize your advertising so
it offers specific solutions to the unique needs of
prospects in each niche market.
For example, the owner of a company selling sales leads to
small businesses noticed that many of her clients were
network marketers or real estate agents. She created a
customized web site for each of these 2 niche markets.
The two sites looked similar. But their content was
different. A visitor to either site could assume the lead
service applied exclusively to their industry. She claims
her sales increased by almost 20 percent when she targeted
these 2 niche markets.
3. Keep Adding New Products And Services
A decline in the sales of one product can devastate your
business if you only offer one or two products. But it will
not have much impact on you if you are still getting sales
for a selection of other products.
Keep increasing the number of products and services you
offer to customers. These additional products and services
should be closely related to those you already sell.
For example, if you sell health products, find additional
health products or services you can offer. If you offer
residential lawn care, look for a way to offer additional
services that help homeowners maintain their property.
Clever competitors and new technology cause constantly
changing marketing conditions that will reduce the
effectiveness of your current marketing efforts. Use these
3 strategies to overcome this threat - and continue growing
Bob Leduc spent 20 years helping businesses like yours find
new customers and increase sales. He just released a New
Edition of his manual, How To Build Your Small Business Fast
With Simple Postcards ...and launched *BizTips from Bob*, a
newsletter to help small businesses grow and prosper. You'll
find his low-cost marketing methods at: http://BobLeduc.com
or call: 702-658-1707 After 10 AM Pacific Time/Las Vegas, NV
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