TEC Resource Center

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Turn Prospects into Customers!

Today I’d like to talk about how to turn prospects into customers.  While, your marketing is doing its job by generating leads, you need to be working on converting those prospects or leads into customers.  In most buying scenarios the buyer or customer is not ready to buy when they initially see your ad or visit your website.

The biggest fear of most new customers is the dreaded buyer’s remorse. They want to be sure their money is being well spent – They are getting the best deal!

In a recent study it was discovered that only 3% to 9% of customers are ready to buy when they are first introduced to you and your product.  In fact, it takes as many as 20 customer touches to close the deal.  Leads or prospects are only the start to the marketing process.  It is always good practice to measure the number of leads a particular marketing campaign produces.  This measures the effectiveness of the campaign.  This will not necessarily predict the number of customers that campaign will produce.

Your buyer is on a journey that leads them to their final decision point and beyond.  They move through this journey moving from Awareness, this is where your ad came in, to Consideration, the information the ad led them to, to the final Decision to buy.  It is critical that you understand that they may not act on their first visit so you must devise a way to keep your company front of mind without abusing the relationship you have now established.

Once a prospective customer becomes aware of your product or service, they require information to decide if your product or service is the best option – the best deal.  You now need to move into the nurturing stage of your marketing.  Establish trust and authority with your prospective client.  Telling them how great your product or service is won’t accomplish this goal.  They need the information to make the right decision confidently.

  • Capture their e-mail and place them in an informative Drip Campaign
  • Connect with them via social media
  • Send them a free gift or sample
  • Have them enroll in your newsletter program
  • Ask them to follow the company

The important thing to remember here is follow up and stay connected.  Give the prospect the information they need to move to the decision phase of the journey.  You need to answer the questions or objections that have been preventing them from making the purchase.  This is not a price thing, it’s a value and trust thing.  Don’t fall into the trap of the best price wins because you will limit your ability to separate yourself from your competitors on anything other than price.  Why are people willing to pay 2 or 3 times more for coffee at Starbucks?  Because Starbucks spent time educating their customers about coffee and separated themselves from there competitors by selling the coffee experience rather than the drink itself.

Stop selling to your prospects and start supplying them with the information they need to make an informed decision that they won’t regret. Follow up after the sale to be sure they are satisfied with the product or service.  This will show them that you want a relationship rather than a one-time purchase.

“By making it inviting, easy, informative, non-threatening, educational, inspiring and fun to do business with you, you’ll loft your company above the competition.” Jay Abraham

Need help with figuring out the best strategy for converting prospects into customers? Visit our website ( https://tec-coaching.com/ask-us/ )and ask the expert for free advice on your marketing approach.

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Attention – Make It Pop!

 

 

 

There are 5 major components to good advertising copy (The order of these is essential to success):
Command Attention
Showcase Benefits of Products/Services
Prove the Benefits
Persuade People to Embrace the Benefits
Call to Action
Advertising is sales in print. So, you need to think about the unique benefits your products/services offer and showcase that in a persuasive way. You need to emphasize results, not features.
Let’s take a minute to talk about each of these components:
Command Attention: This is usually accomplished with the headline. You need an attention-getter that makes people want to know more about your products/services. The best headlines give a vivid portrayal of the benefits or show how a problem can be avoided with your products/services. The headline is the advertisement for the advertisement.
Showcase Benefits: You must showcase the benefits of your products and services and, more importantly, show how they will solve or prevent a problem. They need to know what’s in it for them. Include useful, factual, and clear information to show precisely what the benefits are and how they are going to help the customer.
Offer Proof: This is where you prove what the advertisement is offering. You need to establish you have a method to deliver. Consider information that establishes credibility and past performance.
Persuade: You need to add compelling reasons for your potential customers to purchase your products/services. Use a hard sell approach and create scarcity. This will enact your potential customers to feel like they have to act now. Which leads into the last component.
Call to Action: You need to compel your potential customers to DO something. They need to check out your site, sign up for your newsletter, purchase your products, contact you about services…something.  Offer a freebie, booklet, sample, product, bonus, demo, consult, limited time price…the list goes on. There are lots of ways to get potential customers excited about ordering and help them feel like they are getting an amazing deal.
Good advertisements include all these components and are not complete without any of them. You can sit down and think through any one of these components, then figure out how to best place them together for the most effectiveness. We can help you with this too. Try our FREE test drive to learn how to put together great advertisements from some of the best in the business – teccoaching.com.

 

 

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Direct Response or Bust!

Direct Response

Direct response marketing is a marketing that demands a direct response from your potential customers. This type of marketing is used to answer questions, present your branding, products and the reason you do what you do. Customers love this, as they are offered the opportunity to response, whether that be in the way of signing up for a newsletter, posting a comment on your site or blog, or purchasing a product from you.

So, what does direct response marketing look like? Well, it comes in many forms, including:

  • Social media
  • Digital advertising
  • E-mail
  • Direct mail
  • Print ads
  • Radio and TV ads
  • Coupons or other incentives
  • Telemarketing

Some of the advantages of direct marketing are:

  • A great way to use free time during lulls in business
  • Productive way to communicate and empower you to create more relationships
  • Great way to up- and cross-sell to current customers
  • Low cost way to rustle up new business
  • Used as leverage to turn small sales into large sales
  • Supplement your current marketing program
  • Cost-effective way to reach target markets
  • Offers measurable results
  • Reach outside your local area for new business
  • Increase the effectiveness of your sales force

These are all great things that can come from just taking a few simple steps to putting together a direct response marketing plan and executing it.

“I honestly don’t think you’ll ever find a safer, lower-risk, higher-profit method of increasing your business or profession than direct-response marketing.” Jay Abraham

Direct response marketing is one of the best ways to launch your business on a large scale and reach out to everyone in your target market whether they are in your local area or not. Our FREE test drive can help you put together a great direct response marketing plan and get you on your way to heightened success .

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Taking the first step toward business ownership

You have always wanted to own your own business but just have not been able to get past the first step of owning the dream.  The first step in the process is always the hardest be it starting a new business or starting a new fitness program.  Changing our lives even for the better, takes action, and action that brings about real change in our lives is hard.

In my experience from working with those that do take the plunge, there are three main reasons that prevent people from exploring what the possibility of business ownership might look like.

  1. Fear! Change is scary and it takes guts to step out of your comfort zone and say, I want to do something that others may think is risky or even stupid.  It is easier to keep the status quo then try at something new and fail!  What will other people think?  What if I succeed?  How will this impact my life as I know it today?  But what are the consequences of not trying to change your life?  Opportunities missed can be far more costly then failing at something you have always wanted to try.
  2. Financial Uncertainty! How much money do I need to start a business or buy a franchise? Do I need everything up front or can some be financed?  I can honestly tell you from experience that most people feel like they just don’t have enough money in the bank to start a business or buy a franchise.  When in reality, the money needed is far less than you might think.  Of course, you will need financing and the overall investment might seem scary at first.   However, if the business model is solid the income from the business should be able to pay down the debt and support you at the same time.
  3. Not believing people can help! If you have never started a business or investigated business opportunities or franchises available, it may seem like the process is just too much for you to handle.  When you start your research on-line you are inundated with sales calls and e-mails from people trying to sell you what they have to offer.  So, rather than reach out for help you try to go it alone and end up frustrated and overwhelmed.  There are people that can help if you let them, but you need to be able to tell the difference between those that want to help and those that want to sell you on their concept.  Rather than go it alone, search for some help from qualified and reviewed business brokers or consultants.  These are people that will help you to better understand yourself and what you want from a business as well as introduce you to quality, well vetted opportunities that fit both you and your budget. org is also an organization that can help.  This is a government funded mentoring program that will help you map out a plan and find the resources you need to make your business a reality.

Go ahead, take the first step, and connect with someone to help you explore what business ownership might mean for you.  The exploration of what might be possible is the action that is needed to find out if change is in your future and what not taking the next step might cost you in the long run.

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The Pros and Cons of Purchasing a Franchise

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Thinking about how you can take your annual income to the next level? You may have heard about some of the advantages buying a franchise offers.

With the economy waking up from its COVID-induced hibernation, lots of business-savvy entrepreneurs, investors and leaders are taking interest in buying franchises. A well-managed franchise affords predictable revenue and costs and can be a reliable framework for rapid scaling. Smart business leaders can turn a franchise strategy into a powerful stream of passive income.

However, buying a franchise isn’t for everyone. More locked down than other entrepreneurial endeavors, some creators and thinkers don’t like the regulations and rules you have to respect when operating a franchise. By contrast, other businesspeople appreciate the sense of structure.

Here are the pros and cons of purchasing a franchise for you to consider.

Con: Royalties

It is standard for a brand to charge ongoing royalty fees to their franchisees. This can be between 4% and 6% of the yearly gross revenue. This is something to consider when determining how much you can make off of a franchise and should definitely be a question when selecting a franchise brand. One of the great things about working with a professional broker in the space like TEC Resource Center is that we can help you do the math and evaluate options from a cost to revenue perspective.

Con: Limited Creativity

For the same reason buying a franchise is great for someone not interested in establishing something new, owning a franchise might not be for someone who loves to create. Franchises often have strict rules and procedures for how certain things need to happen, so there are limited options for you to make changes or innovate if you have a mind to do so.

Con: Lack of Control

Many franchises require strict adherence to inside processes. For example, many fast-food franchises require you to purchase basic ingredients directly from them. These items could easily be purchased elsewhere, but the agreement requires you to purchase from the brand. This is something to consider when you are choosing your franchise brand. At TEC Resource Center we know how to help our clients safely navigate and evaluate the kinds of risks.

Con: Outside Reputation

There are a lot of good things about being a part of a larger brand, but it also means that a lot of things are out of your control. If other locations, or the brand as a whole, gets bad publicity for any reason, that can reflect negatively on your location and decrease sales even though you haven’t done anything wrong.

Pro: Proven Product

One of the best parts about buying a franchise is that you are joining a business after the product has already been tried and tested. Why go through the time-intensive, risk-laden process of inventing your own company if someone else is already offering you theirs? Franchised brands are already successful, so there is a lower risk when selling their product.

Pro: Established Marketing

If you purchase a popular brand, you also purchase all the marketing that already exists. McDonalds is the prime example. When you buy a franchise, you already have the reputation and international branding that McDonalds has accumulated over years in the fast-food business. At TEC Resource Center, we provide you with a simple comparison of all the brands available so that you can make the most informed decision possible when choosing your franchise.

Pro: Fewer Decisions

When you start a business from scratch, you have to determine the processes and branding. You have to choose a mascot, the motto, the color scheme, everything. When you purchase an established franchise, all of that work has already been done for you. That makes purchasing a franchise a great option for someone who thrives on management more than creation.

Pro: Ongoing Support

Working with a franchise is a great option for businesspeople hoping to succeed in an industry where they might not have as much experience.  Franchisors will often provide the training and direction necessary to get started, so you don’t need to have a lot of experience or knowledge in the field. This is also great for highly experienced businesspersons who don’t want to dedicate the time or bandwidth to learn something new. The direction provided by the franchise cuts out a lot of that personal research and time that a new product or business requires.

Pro: Easier Access to Funding

Because a franchised brand is already established, banks feel more confident in your ability to follow through on a loan. You are much more likely to have a loan for a franchise approved than for a new brand or product. Having access to this kind of capital means that you are free to scale your franchise strategy much more than if you were running your own business.

Pro TIP: Get Professional Help

There is a lot of information you need to collect when deciding which franchise you want to purchase. Some of that information isn’t always available to the average person, so hiring a professional is the best way to set yourself up for success. Expert franchise advice, like we offer here at TEC Resource Center, can help you locate the best deals, highest quality brands, and be a mediator as you negotiate with a brand. This can result in thousands of dollars in savings, and even more savings in hassle and headache.

The best part? This service comes at No Cost to you! A franchise broker acts as an intermediary between the franchisor and the potential franchisee (You).  We are paid by the seller (Franchisor) if and when a franchise is awarded.

If you have additional questions about how purchasing a franchise could double or triple your yearly income, schedule a free 15-minute call to speak with an expert at the following link – TEC Schedule

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