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Your Mission, Should You Decide to Accept it...

Daniel Wadleigh

A fter you have read the manuals, listened to the audio tapes, filled out the marketing survey, created the perfect ad, and conducted a market research survey of your customer base and strangers, there is another job that you need to accomplish. It�s called watching what works for the competition. Even though you have created a snappy ad that pulls, perhaps 33% to 66% better than before, you still should test little changes that can possibly have a significant positive effect. Direct mail companies are constantly measuring the effects of little changes in the headline, body, offer, close, or PS. When you do a test, make it enough to authenticate the results (a statistically relevant number). But you don�t need 10,000 pieces or 100 radio spots to determine what�s working. Also, following up on the telephone (integrated marketing) can not only increase sales, but can also provide valuable information from prospective customers.

Even though your understanding of the principles of human response (marketing) may now be as good as it gets, there is still something to be learned from the other guys. If they are regularly doing the same ad or the same basic concept, take notes, because it probably works. Now that you better understand the principles of effective marketing, critique their ads and don�t be afraid to borrow some of their result-getting ideas. Maintain a file. I�m not referring to the TV ad that shows the owner�s attractive daughter, or the ad that features the owner in a Superman suit. I�m talking about any new angles on benefits that you have not yet come up with to stimulate greater response. For example (on the emotional side) selling burglar alarm systems while protecting life and limb can help you sleep better (emotional comfort). Another example (on the logical side), it may reduce the cost of homeowners insurance. Watch for principles, examples, and new ideas from what works, as long as it fits your image and standards. One thing about buying an existing business�the owner probably knew a thing or two that worked, or the business wouldn�t have made it. There are many ways to skin a cat.

Next time- �The Lifetime Value of a Customer, Both Kinds!� Most people miss the second one and it�s five times more valuable than the first!

Daniel Wadleigh is President of Profit Experts of Austin, Texas. They offer a turnkey Internet package and have a Web site available for ISOs for retail and Internet. Mr Wadleigh can be reached at (888) 379-0659 .

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