Archives for June 2012

Case Study: ABC Business Improvement

How Does a Perth Based Business Coach Retain Customers For More Than THREE Times Longer Than The ‘Best’ In The Industry?

When David Buttsworth started ABC Business Improvement, he brought with him a wealth of business experience – he had worked in the marketing departments of some major companies around Australia – he took that expertise and applied it to his own coaching business.

The big challenge for David was to build a farm of potential customers that he could nurture over time, providing him with enough ongoing coaching work.

Your Own Coaching Business Is Whole Different Ball Game

In order to achieve success as a business coach, it takes a great deal of time to demonstrate that you are credible and trustworthy to your market. Also, ABC Business Improvement has a very large database of potential customers – too many for any small business to stay in touch with using manual labour methods such as making a monthly or weekly call.

So what David needed was to leverage his communication to his entire database and end the pain of one-on-one calls.

Weekly And Monthly Newsletters Allow ABC Business Improvement To Go From Strength to Strength

ABC Business Improvement publishes a weekly and a monthly newsletter which yields the company thousands of percent of ROI (David is unwilling to share his exact numbers and we respect that.) In those newsletters they include customer success stories – tangible demonstrations that ABC Business Improvement delivers results for their clients.

They are able to interact with past, current and potential clients – humans are communal, they love to interact with people and see that what you are talking about works. And most importantly, there is no need to resort to manual labour to do it. It takes as long to put together a newsletter regardless of it is going to 20 people or 2,000 people.

David maintains that it is the cornerstone of their marketing strategy and as long as they remain consistent with their efforts then they will be successful with their newsletters.

ABC Business Improvement Outstrips Industry Standard for customer lifetime.

David explained that in Business Coaching clients don’t necessarily have a long life. Three to six months is a common engagement then the client moves on. The best business coaches are able to retain clients for maybe nine months.

ABC Business Improvement’s clients remain loyal for years. The newsletter keeps them engaged between engagements. For example, the newsletter is often a source of education about possible areas for future improvement and as long as a client is receiving the newsletter it maintains a strong business relationship.

ABC Business Improvements Customers Become a Goldmine of Referrals

On the back of their Newsletter, ABC Business Improvement has been able to build up a strong referral rate – creating regular surges of referrals just by asking for them in the newsletter. David is adamant that referrals are the best way to get new customers. Referrals are like the customers that referred them. They had almost no sales resistance and were willing to pay more for your services than most other clients.

The Number One Tactic David Tells His Clients to Implement.

When working with new clients David makes sure that they implement a newsletter. His recommendation is a monthly printed newsletter. You can get away with electronic less often.

But his best results come for clients who implement a printed monthly customer newsletter.

Ultimately, the power of a newsletter rests for many clients in the fact it breaks the business’s dependence on the direct labour of the owner. David explains, “When you finally want to step away from your business you are either going to sell it or get someone to run it for you – either way it needs to not be dependent on your labour…”

“My Clients who are able to sell their businesses for multiples of earnings or otherwise get a premium for their business are the ones who can demonstrate long term value in their customers and clients, usually in the form of a relationship. The newsletter does that for them.”

Newsletters Improve Other Marketing Efforts

In the time they have been doing their newsletter, David has observed that his clients have become more receptive and responsive to other marketing efforts over the years. This has led to David being able to get much better response to his marketing when compared to companies that don’t do a newsletter.

Newsletters Convert Unconverted Leads

David has shown that newsletters are able to build trust and get leads ready to become new customers over time. One customer received his newsletter for three years. He called up and was ready to start. He just asked to see the contract so he could sign up. No selling required… Ready to go.

For the princely sum of $36. (36 months of newsletters at a production cost of a dollar each) David had created a brand new customer.

ABC Business Improvement Can Only Build from here.

On the back of his newsletter David has been able to Build ABC Business Improvement into a strong sustainable coaching business avoiding the feast and famine that strikes many business coaches. He sees no reason to change what he is doing. It has been working since the day he started and the results continue to improve.

 

 

Featured Quote:

“65% of customers over 12 months are likely to buy from you again if you send them a monthly newsletter. If you don’t there is a compounding 10% chance that they will defect month on month. Your customer’s defection rate is driven by them perceiving that you are indifferent to them.”

David Buttsworth – Business Coach – ABC Business Improvement. www.abcbusinessimprovement.com.au

Could You Do The Same?

Find out if you can achieve similar results to David Buttsworth or his clients in your business with a 30 minute no obligation newsletter suitability audit – Get Started Today

Teach children to study and boost their lifelong success

Studying may be the key to doing well on spelling quizzes and math tests, but it’s a crucial success skill beyond the school walls. The ability to concentrate and prioritize without the prospect of earning a letter grade is crucial to children’s success in college, and throughout their career. Help your child master the art of studying by sharing these tips:

• Use your time effectively. When are you at your brightest? Are you an early bird or a nighthawk? Are you sleepy and distracted after lunch? Try to schedule study time during your peaks.

• Develop your concentration. How long is your concentration span? Find out by recording your start time when you read from a textbook or other course material. As soon as your mind begins to drift, record the time again. Try this several times until you can gauge your average concentration span. Most people take nearly imperceptible “refresher” breaks every few minutes.

• Read actively. Keep your mind alive while you’re reading. Use a highlighter to mark important passages; write down questions about items you don’t understand; try to predict what will be on the next page or connect what you’re reading with other material you’ve read.

• Manage your internal distractions. When random thoughts surface, don’t try to suppress them. Instead, quickly jot them down for consideration at another time. Sometimes a memory or a thought that appeared to be unrelated to your reading yields interesting insights into the subject upon later reflection.

• Create the right environment. Be aware of your optimal study conditions, and use this awareness to reduce distractions around you. Are you more relaxed with absolute silence, or with classical music in the background? Do you have enough light to read without straining? How is the temperature? Is your chair comfortable?

• Reward yourself. Remember that making the most of your study time means having more time for your other activities.

Four key phrases to boost morale and motivation

Some managers worry so much about what they can’t say to employees that they shut up and limit their conversation to “Do this” and “Good job.” But you can’t run a workplace without active communication.

These useful phrases and questions can help enhance employee morale and productivity:

• “How can I help you with . . . ?” This doesn’t mean volunteering to do employees’ jobs for them. Just make sure they have the resources to do good work and remove any unnecessary obstacles.

• “Good work on _____.” The key is specificity. A generic “You rock!” doesn’t tell employees what to repeat. When you praise an employee’s work, point out exactly how it succeeded to reinforce the results.

• “I want your opinion on . . .” Asking employees what they think shows you trust their judgment and value their ideas. But don’t ask for input unless you’re willing to seriously consider it. If employees think you’re just pretending to be interested in their thoughts, they’ll stop sharing.

• “Thank you for ____.” Don’t take a “That’s their job” attitude. Show genuine appreciation for employees’ efforts. They’ll reward you with greater openness and loyalty.

The Evolution of a Music Festival (And the important lesson for all businesses)

Over Easter I had the pleasure to spend 6 days on the Central Coast and go to Bluesfest. Five stages, each one playing live music for about 12 hours for five days – epic festival.

While watching the likes of Crosby Stills and Nash, The Pogues, John Foggarty, Maceo Parker, G3, Lucinda Williams, Seasick Steve, Canned Heat, Earth Wind and Fire, The Specials, Sublime (with Rome), Trombone Shorty, Buddy Guy, Keb Mo, Eugene ‘Hidaway’ Bridges, Brian Setzer’s Rockabilly Riot (The Stray Cats came too), Steve Earle, his son Justin Townes Earle, Slightly Stoopid, Zappa Plays Zappa The Melbourne Ska Orchestra and the Round Mountain Girls  to name but a few… I noticed some marketing ideas being implemented in and around all that music.

Some 80,000 people attended over the five days. Each person shells out a considerable sum of money. Over $100 a day for short passes once the line up is announced. You can get 5 day passes for $299.00 if you buy next year’s ticket within a couple of months of the last festival finishing. But most will buy based on line-up and pay more for the privilege. Add food, beverages accommodation and narcotics to the bill.

Peter Noble and the marketing team are putting their brains to work. They secured their own venue, which is a Tea Tree farm the rest of the year. Don’t snicker. They get harvestable cash crop every year that pays for the venue and its own costs. It is the agricultural equivalent of buying a large commercial space. Leasing part of it to your own business and tenanting the rest of it to pay the mortgage.

These guys are getting much more aggressive and sophisticated about their marketing and business operation in general. The 23rd Bluesfest will run Easter 2013, (80,000 people a year for many years) so they have built a sizeable database of people many of whom are willing to come up every year and people within ‘driving distance’ of the festival grounds.

Now they are adding multiple single day music events, another multiday festival to their calendar. They already have a large database of music fans for a handful of specific genres. The database is full of big spenders – this isn’t a cheap festival. Odds are you get bands they want to see to play at their festivals and concerts then you can be sure that they will come.

Work to sell the tickets to these extra events amounts to a few emails, text messages putting up a few new web pages and creating a new entry in their shopping cart. That isn’t Rocket Surgery for them it’s only brain science…

This is the power of being able to acquire new customers to build your database at a profit or breakeven then find all these additional ways to make money off of the same customers. The value of their database to them has can be expanded no end because they have all these additional sales they make to their existing customers.

Every business can be enhanced by copying this strategy. But it can’t happen without that database and securing each person on the database’s loyalty with good products and services as well as a strong personal relationship. To find out how you can build that relationship with your customers automatically go to newslettermarketingsystems.com.au/get-started or call 1300 120 006.

Brain Tips for Teaching and Learning

Reviewing and reflection are two methods of thinking about anything that you have just recently learned. Reviewing can of course be undertaken mere moments after a question has been posed, a passage has been read, directions have been given, a comment has been made or an activity has been performed, allowing some time to be given over to think about what has just taken place, to process that information and then to react in an appropriate manner.

Reviewing also needs to be undertaken at periodic intervals over the course of a year, so that students have the chance to be able to revisit, clarify, relearn and then consolidate what they have learned to memory.

Reflection meanwhile encompasses not just the way the actual material is or has been responded to, but also taking into account the way in which one actually goes about the process of learning in the first place.

How to ‘steal’ ideas like a pro

“Immature poets imitate,” wrote poet T.S. Eliot; “mature poets steal.” The path to success isn’t always based on coming up with your own unique ideas. Sometimes the best route is to follow someone else’s approach. From the book Steal Like an Artist, by Austin Kleon (Workman), here’s how to harvest good ideas from the sources around you:

• Pick a handful of thinkers to emulate. Instead of trying to immerse yourself in an entire subject, select two or three representatives to study at a time. The effort will be less daunting, and you’ll get a good view of the issues and ideas swirling around the topic. Find out where they’re coming from and how they see the world, and use that to inform your perceptions.

• Change the scenery. Don’t just sit at your computer when you’re trying to generate ideas. Get out into the world: Move around, observe your surroundings, record your impressions without worrying about how logical they may be, and then spend some time assembling your thoughts around the experiences you’ve collected.

• Widen your perspective. Avoid taking a narrow focus in your work—or your life. Explore different interests and passions. Most of the time your various activities will complement each other, and you’ll be able to use what you learned in one area on a different project. Keep your eyes and your mind open to the resources around you.

Nothing Makes You Feel More Appreciated Than An Elephant In The Mail

The other week I got a call from my 4 year old daughter Holli. She said “daddy you got a letter… Can I open it?” I hesitated a little, then and asked her to put mum on the phone. After a few questions and telling her if it was important to put it aside, I let Holli open it.

I hear the rustling of the envelope over the phone and my daughter shouts “It’s an elephant”… Totally confused at this point I wait patiently for more of an explanation…

I hear my 8 year old  son DJ chime in and get the suspicion that the phones been chucked aside as they begin to argue over who gets to hold the so-called elephant.

To my rescue, the phone is picked up by Cassi and she says “it’s a card with an elephant on the front” then she begins to read “Hi Ben, it’s been 2 years since we had you visit Skyscrapers BNI club in South Perth. We really enjoyed having you along. If you’d like to come visit again, please contact me and we’ll arrange a time..”

Now I was very surprised to receive this… I have received a card from them previously after 3 months, and had received 2 Christmas cards… But 2 years later, for them to still be making an effort to let me know they appreciate me, even though all I ever did was attend as a guest to a single meeting, which really impressed me!

We can learn a lot from this particular BNI club, they know how valuable relationships are. BNI as an organization is all about cultivating referrals and building business relationships. I personally don’t belong to any club, but I’ve attended various clubs and have always been impressed by the community atmosphere.

Hand written thank you cards, Christmas cards, holiday cards or even just ‘because I thought of you’ cards are amazing marketing tools that help build strong relationships. Like newsletters they are non-sales, so the reader doesn’t feel that your trying to lure them into buying something which takes their defenses down and give you some time to create an emotional bond with them.

If you haven’t got a newsletter going yet, but need to keep your customers loyal, consider greeting cards as a stepping stone into a solid customer relationship strategy. They are amazingly affordable and they can make all the difference between your prospect staying or straying when it comes time to re-purchase in the future!

Move sideways to advance

The best career move isn’t always upward. Taking a side trip—a lateral transfer—can prove your commitment while teaching you new skills. Some tips:

• Evaluate the opportunities. When the possibility of a lateral move opens up, take a good look at what you’re likely to learn from it. You don’t want to repeat the same experiences, but expand your skills.

• Compare the job with your goals. Think about where you want to go in your career and what you want to accomplish. If a lateral move takes you closer to your target by teaching new skills or bringing you to the attention of hiher-ups, jump at it.

• Expand your network. The more people you know in your organization and industry, the better positioned you are for success. Consider lateral opportunities for their potential to help you meet leaders and experts you wouldn’t run into otherwise.

• Prove your abilities. Use your sideways move to show you can handle greater responsibility. Volunteer for tough assignments in your new position, and you’ll impress co-workers and managers with your initiative.

• Don’t be forgotten. The danger with a lateral move is that you might fit in so well to your new position that you stall. Stay in touch with your previous managers and colleagues so they remember your willingness to adapt and change.

Information Overload? What’s going down on the Internet

The Internet is a busy “place,” what with all that data running across the virtual landscape.

Here’s a quick snapshot at what kind of traffic it handles on a daily basis:

• Data. Enough information flows through the Internet in a 24-hour period to fill 168 million DVDs.

• Email. The U.S. Postal Service would need two years to process the 294 billion emails sent daily.

• Blogs. They’re everywhere! Two million blog entries are posted on a typical day.

• Facebook. Approximately 172 million people visit Facebook in a day, spending a total of 4.7 billion minutes, updating 532 million statuses, and uploading 250 million photos.

• Video. Web surfers watch 22 million hours of video on Netflix every day; 864,000 hours worth of video are uploaded to YouTube.

• Music. People listen to 187.6 million hours of music streamed from Pandora in a day; if a time-traveling computer went back to the year 1 A.D. to stream that much, the music would still be coming today.

 

Harry S. Dent Forecast Kennedy Style Direct Marketing in “The Great Depression Ahead” (Only about 40 years too late)

Recently I read a book by Harry S. Dent called ‘The Great Depression Ahead. Good book. I got some good ideas out of it and it wove a really good story. Personally I like the idea that demographics drive everything in the economy – makes sense to me.

Harry offered up a throw away section about the future of business. He forecast that businesses would cease to be product centric. “I sell plasterboard” or houses or insurance or whatever the product happens to be.

Harry believes that instead, business owners will focus on putting together customer groups that can be sold related products by the one company.

Sounds a lot like what Dan Kennedy and most (good) direct marketers have been saying for years. Pick a market and acquire the customers and find as many ways to monetize them after the first sale as you humanly can.

Say you are a carpenter – someone gets you to build them a pergola. At some point there are other major projects that these customers will need to get done. Could be a new garage or shed, renovations, new kitchen, new bathroom, home maintenance services such as lawn mowing, gardening you name it all of these services you could offer to your customers or else you could work in a joint venture arrangement with other service providers.

This sort of thing can happen regardless of industry. The same could be done for a tailor or a dry cleaner or almost any other business, just as easily.

But the lynch pin of this strategy comes down to one thing: your ability to grow and create a strong relationship with your customers for years on end. In the end that is what is going to determine if your business is loyal and stable.

Even if someone is only satisfied with your service, you can resell to them as long as you build the relationship with them. The strongest base of any customer retention program is a printed monthly newsletter.

Everyone who understands Dent’s view of business realizes two things.

Number one: You need to forge a strong long term bond in order to get sales beyond the first from your customers.

Number two: The best way to do this is with sustained readership in the form of a monthly printed newsletter. For most this takes the form of a 4 page customer newsletter. ‘You’ shows up monthly, they read your newsletter and remember you – repeat purchase from you and refer new customers to you.

Aggregating customers for life is the cheapest way to be in business. It doesn’t have to happen slowly either. It can happen very fast. Getting started is the first step to find out what the payoff of for a newsletter will be, organise a no obligation no cost newsletter suitability audit simply call 1300 120 006 or go to www.newslettermarketingsystems.com.au/get-started