Explosive Business Growth 2013 – Sept. Teleclass Notes & MP3 Recording

Explosive Business Growth

EXPLOSIVE BUSINESS GROWTH 2013

The Top 3 Mistakes All Senior Business Makes

Mistake number 1: not understanding that there are multiple target audiences. For example, there are the seniors ages 70 to 90, and then there are the Boomer children who are the influencers.

There are two groups of boomers: the leading edge boomers ages 58 to 66, and younger boomers, ages 48 to 57. When you’re marketing to seniors and boomers, you need to know how each group thinks.

Mistake number 2: thinking you can use the same marketing tactics, phrases, and mindsets with each group. Each target group has different needs, different wants.  To lump your marketing message into one tightly knit, bundled message for the different groups is crazy, and it’s dangerous.

Mistake number 3: doing fragmented or piecemeal marketing. (This comes from Madcapper marketing consultants.

Let’s go over each one of these points in detail.

Number 1. The seniors that you want to attract your business, ages 70 to 90, are the silent generation. They are set in their ways, they don’t like changes, and they don’t trust people who don’t have a relationship with them. Here are just some of the things they do:

  • They still listen to the radio
  • They do watch TV-however, it’s more PBS or educational type.
  • They still read newspapers, and some read magazines.
  • They have quite a bit of money, but they don’t spend it on frivolous needs. At this point in their life, it will take multiple tries to convince them to change from their current vendors to a new one.

 Number 2. The leading edge boomers, ages 58 to 66, are more pliable and can be convinced to change vendors if a relationship is developed. This relationship cannot be done in one day, one week, or even a one-month. It has got to be worked on over at least a two or three months. And it has to be done using multiple methods of contact.

For example: social media, direct mail, webinars, teleconferences, websites, senior directories, and other marketing methods. These are the things you should focus on over the next four months, but not all at once. Pick two or three things to do and were get them consistently on a daily basis, weekly basis, and monthly basis.

Number 3. The younger boomers, ages 48 to 57 are especially attuned to the web and social media. They might or might not have the ear of their senior parents you want to deal with. If you start now to address the needs of their parents using their methods, when it comes time for them to make decisions about their own lives, you will be so much further along.

 5 Things You MUST Do In The Last 1/3 Of The Year.

Here are five things you must do in this last one third of the year in order to maximize leads and lead conversions that you can work on.

1. Create a portfolio including your biography, testimonials, comparative advertising flyers, brochures, business cards, and other materials. When you send them to your prospects or current customers you will wow them.

2. Make sure you’re up-to-date on social media. You must, at minimum, have a Facebook personal page, a Facebook business page, a LinkedIn personal and business page, and a twitter account. Tie them all in with HootSuite. (Make sure your profiles on each of these are up-to-date.)

Be writing articles, posts, blogs, and website info at least once a week. If you use the same material for one and attach it to your blog and website, it should only take one hour per week.

3. Make a list of organizations and locations where you want to give half hour speeches. Check chambers of commerce, senior networking organizations, social organizations like Kiwanis, the Lions, Elks, Eagles, and any other place where leading-edge boomers and or seniors congregate.

Create a one-page speech flyer including your picture, two or three speeches you can present, a few testimonials of your speaking, and your contact information.

Create a cover letter offering a free half hour speech or workshop at no charge. Then the e-mail both to the list you created at the beginning of three.

4. Create a small book or booklet that you can give out with tips about your part of the senior industry. For example, 25 ways to determine if your parent or grandparent needs assisted living; 12 ways to use referral services; 15 ways that in-home care can help your parent.

Use saddle stitch binding or comb binding. Make sure you include several testimonials, your picture, your company biography, etc. Also, have a great cover that stands out.

5. Create a publicity campaign using local newspapers, radio, and cable television. For example, there is a cable station in San Bernardino that allows free half hour shows about great things happening in the San Bernardino area. Create a senior show, and get copies of the tape. Now you have something to put on YouTube and Facebook.

For the newspapers, publicity sites, and magazines, check Google.  Type in Free Publicity Sites and use those.

 How to turn your business around

Use the 80/20 Rule

80% of your business comes from 20% of your customers. Similarly, 80% of your leads come from only 20% of the people you are reaching out to –whether it is a lead capture page, a webpage, direct mail, or simple phone call.

The 80/20 rule applies to all marketing and sales.  Therefore, you should make a list of the top 50 to 100 prospects and customers you are working with.  Understand that only 20 out of 100 will be your core customers.  It’s OK to weed people and companies out.

According to Perry Marshall, author of 80/20 Sales and Marketing, you should ask these 5 questions, also known as the power DIS-QUALIFIERS:

1. Do they have the money to work with you?

2. Do they have an urgent problem that must be solved?

3. Do they buy into your unique selling proposition?

4. Do they have the ability to say yes?

5. Does what you sell fit into their overall plans?

 1. Do they have the money to work with you?

Some companies and people would love to work with you, but cannot afford your services.

2. Do they have an urgent problem that must be solved?

So they have a hurt so painful they must get help immediately, or can it wait?

 3. Do they buy into your unique selling proposition?

Do they understand why you are special and unique in the industry?  If you are a commodity company, you won’t get far.

4. Do they have the ability to say yes?

Many of the people you meet at networking groups are sales counselors themselves, they just go by different titles.  If they don’t pay the bills, you need to find the ultimate decision maker.

5. Does what you sell fit into their overall plans?

You might have the greatest service or product, but if it does not fit into their plans, they won’t hire you.

According to Perry, the key object is to disqualify people using the 80/20 rule, so you do not waste your time or theirs.

 A next step action plan for moving your business forward

Before we finish, let me go over some statistics so this makes sense.

Leading-edge boomers buy just about everything at higher average prices and any other consumers. For example, they buy:

Support of the arts-60%

Luxury travel-80%

Charitable donations-65%

One thing you must do is understand the niches and cell culture of leading-edge boomers and seniors. For example assisted living facilities, their owners and administrators think very differently than the day-to-day workers.

You need to profile your desired leading-edge Boomer and senior consumers. In addition you need to create your own profile. This personal profile of you or your company is the basis for:

One thing you might do therefore is to create charitable donations and supporting the arts with your company. Using publicity, social media, and the like will get the word out that you are a like-minded company.

Lead generation advertising, elevator speech prospecting, selecting and renting mailing list, and matching your message to the segments.

The best approach is media integration-using off-line and online marketing together.

Differentiation:

Do not become a commodity in your business. Example: all the brochures I see at networking meetings take out the name and the picture with someone else’s and it’s all the same. The same things at networking meetings-people tend to stand up and say I to have an in-home care-referral agency-whatever.

Here is how you differentiate yourself:

1. Authorship write a book.

2. Public speaking, like authorship, carries a cultural imprint of specialness.

3. You must communicate, but not using vernacular. Don’t use words that only you know about your niche or industry. It will definitely confuse the seniors, and there Boomer kids.

4. Find your niche where others are not.

5. Be sophisticated and diversify your marketing. Most people want to simplify and reduce the ways to get their message across. This is a big mistake.

6. Become a celebrity-become slightly famous right we live. This is the result of your book, promotion, publicity, and public presence.

7. Do what you do so well. Be good at what you do and show proof with photos, statistics, awards, recognition, certification, testimonials, and endorsements.

How to use differentiation with lead generation: give people more than one way to respond, and ask them for a “micro yes”. Since 99% of your prospects do not know what to ask her what is important you need to lead them.

Your book, direct mail letters, e-mails, audios, DVDs, web videos, and others are viable options and cost-effective.

Here is advice from Dan Kennedy: make a list of all the questions that your prospective clients or customers asked in the course of making decisions. Now, use one page per question to answer it on your website. This is prized content your prospects want.

 Create a membership site-membership has power.  People want to be part of a group of like-minded forward thinking businesses.  That’s why master mind groups, membership sites, and other organizations foster a spirit of cooperation.

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