It is a fact that so many people rush into building a business without the knowledge on how to scale their market, let alone target it properly. They proceed to unload large amounts of cash for little or no return. This only happens because they do not understand the importance of marketing and having an effective system in place.
One of the best known examples of a business franchise is McDonalds. They only do the following 3 jobs, yet they are consistently in the top 10 business franchises in the world.
1. Aim to provide excellent customer service.
2. Take customer’s orders.
3. Train other new staff on how to do this.
Your system will need to do the same…
So now you must be wondering what your system will need to do. Here is the 3 parts EVERY business should put in place:
Part A: You offer a low cost product ($10 or less) that you sell in high volume. The money you make from these products will fund all of your advertising expenses, whilst simultaneous generating a never ending source of leads to your business. It is very important, and is also known as a funded proposal.
Part B: The next part is offering a medium to high cost product (generally ranging anywhere between $75 and $1500 +) on the back end. This product is where you can make the true profit and reap the rewards of having money to invest in other things.
Part C: You should offer a marketing opportunity, potentially a subscription to your site, or a membership that is charged over a long period of time. This is known as residual income and it is powerful!
These are the fundamental steps all businesses should base their system around. But wait there is more… Here is a list of the 5 components every business should employ to become successful!
1. You MUST employ mass marketing! If you don’t advertise daily, you don’t have a business. In order to generate prospects, especially online, you should use proven methods such as ‘Pay Per Click’ ads, banner advertising, video marketing and so on. By getting your advertising working efficiently, you will always have a stream of leads coming in 24/7. It will lead these prospects into step 2…
2. You lead them into what is known as The Marketing Pipeline! The first product you offer them should focus on providing highly valuable information, that makes it clear how it will benefit them (not you). This keeps them in your pipeline. The second part of this pipeline is that by giving them a product with such high value, you position your self as a leader and an expert and people are genetically coded to value those who display these traits. Thirdly, this product should market, promote, and induce the sale of an inexpensive retail product, and it should steer the customer to a cash register, or online method of payment.
3. You will need an order processing form to produce customers and cash all around the clock. This form will also assist with paying for your advertising.
4. The Retail Product. This should be intimately connected with the opportunity your business is offering. This product should sell it for you, or more importantly, induce your customers to sell them selves. Remember it must be of high value for a customer to feel it is their decision to buy. You are not forcing them to do anything, merely providing excellent value. An example is a “how to” guide, which should also suggest, sell and promote your actual business.
5. Finally, you offer to others the opportunity to join you, usually membership based, which will bring in residual income, whilst also developing these customers into potential clients. You are effectively training them with leadership development.
Throughout this entire product, your main focus MUST be on providing excellent customer service and in building strong relationships with your prospects.
I hope this guide has helped you to realise the importance of putting a system in place, and also how you can use these 5 key components to scale your business.