King David

12/10/2023

04/09/2022

THANKFULLY I LEARNT THIS EARLY ENOUGH AND I THINK YOU SHOULD TOO

One of the most important keys to maximising your customer value is in CUSTOMER RETENTION and repeat business.

By retention, I mean your ability to retain your existing customers. 😁

The thing about customer retention is, it is not something you get as a result of providing good service or products but rather, it's as a result of quality strategic marketing.

This involves consistent marketing and communication in a way that continues to grab the attention of your customer.

The secret to achieving this is being able to answer the question, What's new?

If you don't have a good answer to this question, your existing customers will go looking for the answer elsewhere. 😷

They forget about you, they don't talk about you, they don't buy from you and they are easily wooed by some competitor who comes along with something new and exciting.

How do you answer this question that is always on their minds? And how do you do it consistently and repetitively, so they are always intrigued by you?

The answer to this question is by frequently and continually reinventing your business inside your business, by inventing new widgets and offering those new widgets through constant communication with your past and present customers. 💯

At least let them hear from you often and get a new widget offered to them.

That will keep customers interested and engaged, allowing you to sell to them more frequently, and having more customers refer often.

The Point is, your complete Marketing System should incorporate what we call “Front-end and back-end” 😁

Front-end refers to outreach to attract and acquire new leads, new potential customers and new customers.

Back-end means developing and retaining those customers, increasing the frequency of repeat business you do with them, cross selling different products and services, putting fresh offers in front of them frequently, staying interesting to them so they stay with you and tell others about you. 💯

The question is how do you do that?

We will look at that in my next post.

👉 Kindly like and share this post

Have a great evening!!!

04/09/2022

BIGGEST MISTAKE MADE BY SALES PERSONS

I was reading a sales copy yesterday and I realised I needed to talk about this.

There is a common mistake made by most sales persons and that is, focusing on you rather than your prospect/potential customer.

Now what do I mean by focusing on you?

I mean talking too much about your brand/company rather than the benefit your prospect will derive from your product/service.

Your prospect doesn't care about you or your company. He/she only cares about what they will benefit from doing business with you.

It's always about what your prospects will benefit from the product/service you are offering.

In your sales messaging, be You-Oriented, not Me - oriented.

It is important for you to successfully convey to your prospects, the benefits they will derive from doing business with you.

You can do this by using the information you have gathered about your ideal customer(Your WHO) to talk to them in a language they will understand.

Do have a fruitful day and please endeavour to like/share this post...

Best Regards
David
Business consultant/sales expert

05/07/2022

ONE LESSON I LEARNT

Talking about the media, how do you deliver your message through the right media to reach out to your prospects in a way that is affordable, effective and efficient.

How will it attract prospects who are willing and able to buy from ONLY you.

These days there are many options available in the media segment and you may find difficulty in choosing which platform to use.

So how do you decide on which media platform to use? You do this by putting into consideration your "WHO".

Recall that WHO here refers to your ideal customers. By this I mean the type of people you should sell to.

Basically, in using the media, you target where your ideal customers are. You do not go where they are not.

■If they’re on Twitter, then you go to Twitter

■If they are constantly on a blog, then you go on the blog

■If they’re subscribers to a magazine that they always read their content, then you go there.

■If they’re people who love to listen to radio, then you go on radio.

Going where your prospects "are not" is a waste of time and money.

Have a great day!

02/07/2022

TYPES OF OFFERS

In creating your offers, it is important for you to know that there are three types of offers and each type of offer serves a specific purpose.

We have the following types of offers:
😁
1. Lead generation offers
2. Consultation offers
3. Direct purchase or final offers

Now let's look at them one after the other 💯

1. Lead Generation Offers
This is an offer whose purpose is to entice a prospect into identifying and registering their interest in a subject matter, goods or services and inviting them into further communication with you.

Most times, the lead generation offer is free

E.g If you own a restaurant, You may offer Chinese rice as one of your delicacies, advertise it and offer your lead generation widget, which could be free information on how to prepare certain delicacies.

In getting a prospect to commit to your lead generation offer, you have to come off like you are not trying to sell.

You have to use something that has low barrier to entry e.g Call this number to get my free pdf or video or send a mail to get a link to download my free pdf.

This is more easier to convert and provides a higher response.💥💥

So those interested are more likely to respond.

The addition of lead generation to your marketing system allows you to create a pool of ideal customers to directly market to.

2. CONSULTATION OFFERS

This could be the kind of offer you are currently making in your business. ✌

The point of a consultation offer is to compel the prospect to meet either in person, over the phone or the internet, to discuss their specific situation as it relates to your business.

It not an easy task getting someone who may or may not know you to commit to this kind if meeting.

They could basically spend that time doing something else.

You need to provide a compelling copy that clearly explains the benefits to them and not you. 👌👌👌

Talking about the transformation that will take place AFTER they finish the meeting with you.

Employ emotional copywriting😁 by painting a picture of how their life is lacking something now but will no longer lack it when they finish their meeting with you.

At the end of your meeting, you present the offer to purchase what it is you have to sell.

3. DIRECT PURCHASE OR FINAL OFFER

This is where you present the widget and ask for the sale.

Here, offering discounts as a strategy could be an option.

Another option is giving a gift alongside a purchase. This is where you offer bonuses. You could also integrate other things to make it more appealing and drive urgency. 💯

Alot of businesses use the direct purchase offer. They go right for the sale and fail to follow up if the initial offer is not accepted.

For those who don't want to go through the direct purchase or final offer, you can work your way through the sales process by starting with lead generation, then moving onto consultation and finally closing the deal with your offer.✌

Kindly share this post if you learnt something

Have a great weekend😁

01/07/2022

THE GOD FATHER KIND OF OFFER

To create an irresistible offer, you need to create the God father kind of offer.

This is simply the kind of offer that is difficult to resist😁

This is the kind of offer that sounds too good to be true.

So let's give an example

Let's assume you operate a Travel and Tour agency and you are organising a Dubai tour in August 2022.

You put out your offer to Include:

1. Cost of air ticket
2. Hotel accomodation for 5 days
3. Breakfast and dinner for 5 days
4. Boat cruise
5. Tour of Dubai city to include:
i. Desert Safari
ii. Dubai Marina
iii. Burj Khakifa

So let's Imagine you offer all this for a meagre amount of 300,000 naira. Too good to be true right? 😉💯

Now this is an example of the God father kind of offer.

People who love to travel and have the sum of 300,000 naira they can spare on a foreign trip/vacation will easily jump on this offer💥

The great thing about this kind of offer is that it gets sold out easily.

Incorporate this kind of offers into your business and watch your business grow😁😁

01/07/2022

THE LITTLE THINGS THAT MATTER

Let's talk about widgets 😁

Basically, Widgets are special offers

An example would be, if you operate a cinema, a common type of offer would be "get 10% off your movie rate".

However, a widget ups the game by adding extra elements to make it even more attractive, hard to resist and impossible to compare against competitors.

Widgets can be viewed as packages of goods, services, premiums and experiences bundled together.

So instead of creating an offer like:

"Get10% off your movie rate"

Which is quite easy to ignore, you'll see:

Your ultimate weekend of food and movies💥

1.10% savings on movie rate
2. Free pop corn
3. Complimentary bottle of champagne
4. Free dinner for two
5. Limited offer, expires in two days

Now this becomes hard to ignore when it is presented to the right person at the right time using the right media 💯

Making widgets is an important skill in marketing. When you understand it, you can use it regularly.

If we are to look at a pizza business, their widget may be themed for the world cup.

It could include two Pizza's, two bottles of Coke, two bottles of water and two piece of cakes only for a one time low price.

They are only saying, come and buy pizza from us 😁

They are asking you to come in and get the world cup match deal.

That special deal is their widget, which as long as the world cup continues, they can promote with TV ad's , flyers and newspapers.

Makes a lot of sense right?

Happy new month

01/07/2022

THE RIGHT MESSAGE

When putting out your offers, it's important to not just put out your message but put out the right message.

What do you say to your potential customers and clients that is compelling and cannot be ignored? The kind of message that must be responded to.

I have observed that most businesses don't have a good marketing message.

You start up a business and all you can say is "we are open for business"

A marketing message is a way of properly and clearly saying to your prospects, “Here’s what I’m all about and here’s why you should choose me.”

So you need to ask yourself, “What am I going to say to my prospects and why is what I say going to be interesting and appealing to them?”

People only buy things they perceive are valuable.

So your prospects must perceive your product or service as valuable. This is the only way they will buy from you.

So when you say you are open for business.

My question is, are you the only one open for business?

Do you get my point?

What people want to see is why they should buy from Mr A and not Mr B. Your messaging has to capture this else you will end up being like every other person in that market segment.

Now this is an example.

Let's assume you set up a fashion designing business and you just rented a shop.

Instead of saying you are now open for business. You can say something like this:

Oludare's Apparels...
Specialists in the design of male and female attires within 96 hours

Do you see the difference? Now when people see this, all they can think of is wow😳, so my clothes can be ready in 96 hours?

Considering how Nigerian Fashion designers constantly disappoint clients, you have just succeeded in putting your fashion design business at the forefront.

Your messaging should capture your products, service and offers.

Have a great weekend!!!

30/06/2022

PLEASE TAKE NOTE

I find it funny when I see many people who sell bags, shoes and clothes but can't create content on why the product they are offering is valuable.

So many people want to sell but can't sell👌

Infact some will even force you to buy from them🤣

It is important to understand how to build the customer/seller relationship

Nobody wakes up and just decides to throw their hard earned money around.

Everybody wants to purchase something that is valuable💯💯💯... We can all agree that money is not easy to come by.

People will easily spend their money on something that is of great value.

But how do they patronise you when you haven't even shown them the value in the product you are offering.

Selling can be easy if you decide to do it right.👌

Do have a fruitful day😁🙋‍♂️

30/06/2022

I CAN'T BELIEVE THIS

I cant believe there are many people who still don't realise there is such a thing as an ideal customer.

Finding this out from business men/women is shocking🙆‍♂️

So what is an ideal customer? 😁

It's a description of the kind of customer who would benefit the most from your offering and provide the most value to you in return.

Your ideal customer is the type of customer you'll focus your resources on acquiring within a specific timeframe. 💯💯

So, yes, your ideal customer is someone who benefits from your product or service. But, it’s also defined as someone you want to target with your marketing and promotions based on your current business situation.

How do you find your ideal customer?

Now that you know what your ideal customer is, it's time to know how to find them 😁

How To Find Your Ideal Customer

1. Know Your Product or Service💥

First thing’s first, you need to have a solid understanding of your business. That doesn’t just mean knowing the ins and outs of your financials or being able to recite your copy in your sleep.

Instead, you need to have deep knowledge of your business from your customers point of view.

Get out a notepad and jot down exactly what you offer to your customers.

●What problems do you solve for them or what challenges do you address?
●Why should people buy from you instead of your competitors?
●What sets you apart?
●Who actually benefits the most from your product or service?

When it comes to this question, you need to be honest with yourself. It’s not enough to determine who you want to benefit most, you need to identify who is actually finding value in your offerings right now.

2. Determine Your Goals

Once you’ve looked at your business through your customer’s eyes and identified who is currently buying from you, it’s time to determine what your goals are.

Are you happy with this current type of customer and, more importantly, are they happy with you? Or, do you feel that you’re not appropriately targeting the people who would value your business the most?

For example, you’ve been working with a lot of startup founders, but would like to form partnerships with more enterprise-level companies.

As mentioned above, your current clients or customers may not be your ideal ones. Maybe you’ve noticed that your customer retention rate is really low, people are buying once, but not returning.

Perhaps you’ve been on the receiving end of a lot of customer complaints. Or, maybe you just want to shift your focus, change your business model, and reach a totally different audience.

This is the time to outline your goals. Determining what specifically you want to achieve will help you alter your strategies when it comes to your customers.

Just think—if a car salesman set a goal of reaching 500 million naira in sales this year, he’s probably going to stay far, far away from customers who can't help him achieve his goal

3. Analyze Past Interactions

Your past interactions with customers can reveal a lot, both good and bad. Combing through any major mistakes and successes with previous or existing customers will definitely help you in narrowing your focus. 💯💯💯

First, look back on any huge issue that made your stomach turn. Did those incidents have anything in common? Perhaps they all resulted from miscommunications with clients.

That means you may want to work on your communication with clients in the future. 🧏‍♂️

Also take some time to go through any big wins. Whether it’s reading through your customer testimonials or paging through old emails to find those major accomplishments, you should also try to identify any common threads here.

Maybe those customers all had the same problem you were able to address with your product or service. Perhaps they were all in the exact same industry.

Sort through your past interactions and pull out what you can. That information will all be incredibly valuable in the next step.

4. Build a Customer Profile

You’ve done your research, put in the legwork, and are ready to outline everything that makes your customer tick. This is when you’ll build your customer profile, which shares all of that need-to-know information about who exactly you’re trying to target.

This process involves answering some important questions that cover everything from basic demographics to what influences their buying decisions. 💥💥

Find out as much as you possibly can about your customer. The more you know, the more powerful you’ll be.

If you really want to get inside your buyers’ heads, customer interviews are an effective tool. Pick a few of your current customers and set up a time to chat.

Ask the right questions, and you’ll learn what they love about you, what they don’t like about you, as well as what inspired them to choose you over your competitors. That information straight from the horse’s mouth is invaluable. 💯💯💯

5. Remember Your Hard Work

So, you pulled together a detailed profile of your ideal customer and made sure everyone on your team was on the same page. Now what?

Unfortunately, many businesses make the mistake of putting all of the time and research in, and then just letting that information sit there unused.

If your goal is to target those specific customers in order to continue improving your business😁, you need to always keep the information you gathered at the top of mind. It should influence every move and decision you make.

Simply saying you want to target those people isn’t enough—the act of defining your ideal customer won’t bring them to you. You need to take that information, put it into play, and get to work. 😃

On a final note, Identifying your ideal customer can seem like an overwhelming and daunting task. However, it’s an important step in growing and improving your business.

Have a great day!!!

30/06/2022

IF THERE IS NO OFFER, IT'S NOT CALLED MARKETING ANYMORE, IT'S CALLED BRANDING

One of the biggest principles in marketing is the principle of creating an offer.

If there is no offer, don't even bother marketing.

For those wondering what an offer is?

An offer is a promise made from one party to another. Offers are promises made voluntarily but they come with a condition.

An offer is that extra icing on the cake, that makes you pick one product over another.

Have you ever asked yourself why you decided to purchase one product over another?

If you answer this question correctly, you'd realise that most of the time, it's an offer that makes you decide on which product to finally purchase.

I'd love to give an example.

Now when it comes to refrigerators, there are quite a lot of options to pick from. From the likes of Thermocool, LG, Nexus, Bruhm and Scanfrost.

So Let's take a look at LG electronics and their inverter line of refrigerators.

People who Intend purchasing a refrigerator and are looking at long term usage, tend to go for the likes of LG.

Now LG has placed an offer on its inverter line of refrigerators. I'm sure many of you have seen it.

This is what you see on the refrigerator:

"10 year compressor warranty"

Now the 10 year warranty on it's inverter linear compressor, is an offer and this is one of the reasons some people purchased an LG refrigerator

Another example of an offer is the popular "Buy two and get one free"

The goal of an offer is to add something of value to your your product/service, that will motivate potential customers to buy from you.

You can now see the power of an offer right?

So when marketing your products/services, what is that offer, that benefit you can add to the product itself to make your potential customers decide to purchase from you rather than your competitors?

The answer to this question will be a game changer for your business.

Good morning

30/06/2022

WHERE YOU ARE FISHING IS WHERE THE PROBLEM IS

Unable to make sales in your business? You are probably fishing in the wrong place 😔

By fishing in the wrong place I mean you are trying to sell to people who are not in need of your product or service.

One thing people sometimes fail to realise is this, "you can't sell to everybody" and "everybody is not your potential customer".

You have to narrow down your business and marketing strategy to those who actually need your product or service.

This is another reason why people spend money on ads and still get no reasonable result. You must get your target audience right.

Know who you should be selling to

When you fish in the right place, you have a high chance of reaping a bountiful harvest😁

Good morning...