Small Business Marketing Resources For Finding Lost Revenue
Below you’re going to find Five small business marketing resources every business should use at least once or twice per year. These are extremely effective at uncovering the profit leaks in a business. You will be surprised when you break open the safe of hidden marketing assets in your business and find tens of thousands of dollars in found revenue. Let’s jump in.
Profit Finding Analysis
Sitting inside your business right now are profits hidden in plane sight. The only requirement is you need to take a step back and be a little creative with your thought processes. Think outside the box and find areas you can leverage today to bring in new customers, get more of them to buy from you, and get them coming back more often. If you can’t do that on your own, then maybe it’s time to get someone from the outside.
Most business owners take their vendor’s prices as-is. Rarely do they ask for a better price unless it’s at the beginning of the negotiation. Often times, when you’ve been with a vendor for a while and shown a solid track record, you can ask for a discount based on your current ordering schedule. A small discount could improve your overall profit exponentially. This is something you should investigate now.
Customer Database House Cleaning
If you send physical mail to your current and past customers then you know people move. It’s important that you review your customer database and remove or update all the customers who have moved or who’s mail has bounced. Depending on how often you send mail, the extra postage and printing costs could add up. Cleaning the database is something simple and easy to do. No excuses, get it done.
Online Presence Evaluation
Almost everyone is moving more and more online. Even older generations are embracing technology faster than they ever have before. You should take a look at your current website. It should be professional looking, it should have a blog, and most of all you should provide great value to help your prospects make a decision to work with you.
Know Your Numbers Analysis
Many business owners don’t know what key numbers are in their business. They don’t know what the lifetime value of a customer is, what the cost per lead is, and what it takes to get a lead to buy from them. These are important numbers to know, especially when you’re evaluating if your marketing is working or not. Sit down and figure out what your numbers are. Be better informed and make good decisions.
Using these tools can be extremely effective at unearthing hidden treasures inside your business. Many business owners focus on getting new clients through traditional lead generation sources.
It’s rare that you get a business owner who is looking for other ways to improve their business beyond traditional methods. It’s not your fault. Business owners are inundated with daily tasks that keep them in the office and heads down keeping the business running. They don’t have time to search for these internal resources of wealth. But it’s time to make a change. Use these resources to your advantage and start uncovering pots of gold hidden inside your business.
Enjoy and prosper,
PS- If you’d like a fresh set of eyes to come in and give you a “profit map” of all five of the small business marketing resources above that are laying dormant in your business, then fill out the form and find out if you qualify for a Profit Leak Audit.