Identifying Marketing Keys that
Each of my own Marketing Keys (each of the best ones thought of many years apart) generated over a £million in sales. There are many smaller keys that also contribute to the marketing mix.
You need many marketing methods to unlock multiple streams of income. Each stream of income may need its own niche marketing key.
One Marketing System unlocked tens of millions of pounds (over many years) in turnover and six figure profits, for myself and a group of franchisees who copied the formula.
I was unaware of the concept of a single, game-changing 'Marketing Key' until I found and lost my first Key. Read more on finding your own Game-Changer Marketing Key here.
Much of what I do, like much 'general' advertising, doesn't work. That's the truth, no shame in admitting it. No shame, no gain!
Once in a while, by continually looking and thinking, I will uncover a diamond marketing idea.
In 25 years of running my own businesses, I've found a few such diamonds and I've exploited and developed them for all they're worth.
Every time, often as failure beckons, and despite two recessions, I've found a vital marketing key that unlocks floods of new business, often just in the nick of time.
In good times, these Marketing Gems, these Make Money Marketing Keys, are the difference between just plodding along being average (surviving) and making your business into something exceptional.
In bad times, in difficult times, as in today's uncertain economic climate, these Marketing Keys can be the difference between going under completely or having a viable and strong business that will stand you in good stead whatever the economy does.
When I find a Marketing Key, such as Niche Offer Websites, I will work the new marketing key to its fullest possible potential.
So must you!
Find your own Marketing Keys
Study what is going on in your area. Look around you. Look For new Opportunities, always look out for new marketing ideas that can make an overwhelming difference to your fortunes.
Be on the look-out for a Money Making Marketing Key that can produce streams of profitable income flowing into your business for many years. You'll see them everywhere, if you're alert to these opportunities. When you find something that works, you work it hard. You systematically work at it every day.
If you found leafletting works, you'd do a bit every week, come rain or shine. If you found speaking to clients and other contacts for referrals works, you'd make a point of doing this daily (continually speaking to new contacts daily).
Each time I found a money making marketing key, I made sure I used that mrketing key time and time again, to maximum effect. For when opportunity comes your way, when you are presented with a good, working idea, you owe it to yourself to make as much out of it as you can. Why let opportunity pass you by, unexploited, or under-exploited?
It takes a great deal of time to find something that works reliably. This should never be taken for granted. People do take these things for granted. I did, with Marketing Key 1.
Do not allow a gap of ten years to pass between each major marketing breakthrough as I have. Do not wait until disaster beckons before you seek out that one breakthrough that's just enough to keep your business going.
When you have a money making business, a 'cash-cow', it is a good feeling, but are you making the most of it? Or have you become complacent? I have learnt that nothing lasts forever. Every idea has its day, and even once viable businesses become untenable due to changes in the marketplace and in their ability to market themselves.
Global influences, new technology, economic and cultural changes, and even political interference can destroy once profitable businesses. Observe how the retail sector is struggling today, along with print media, as internet shopping and on-line news media take over. My first business supplying domestic cleaners has been turned on its head by mass immigration of cheap foreign labour, particularly in London. This has created excessive competition where once there was a shortage of supply. In outlying areas there is not the same increase in cleaners, but there is an increase in cleaning agencies. All of them easily found on line, so leaflets stopped working.
In the 1980's and 1990's few could offer the domestic cleaning service I was offering. People just could not find reliable cleaners. Mass door to door leafleting was highly effective in acquiring clients desperate for a cleaner. There simply wasn't any competition to worry about. What competition there was, was not intent on expanding and did not mass leaflet. I found my Key and I worked it. Just two hours worth of leafletting consistently generated £400 worth of income. The more leafleting one did, the more income one made.
Over ten years I turned over around £5m and averaged £150,000-£200,000 plus in profit annually. I franchised the business so others could copy the Key. Yet my main problem was getting franchisees out of their homes and onto the streets leafleting. I said walkinng is good for you and it makes money. Many just did not 'get it'.
Those that did 'get it', drove in the clients and reaped the rewards. Even with a proven marketing system, many just did not work the Marketing system for all it was worth. Many agencies could have made £100k a year profit or more, as I did, yet they did not do the volume of leafletting necessary, even though this marketing method consistently worked. I have delivered leaflets in pouring rain, in cold winter frosts, and kept going with sore feet, because I drove myself to do it. Many people do not have this drive.
But what most people lack of all things, is not personal motivation, but as importantly, they've no access to a marketing system that works.
Leafleting door to door was once a vital Marketing Key. But then, it was my ONLY marketing key. Now leaflets no longer work, at least not the mass leafleting of old. Lots of smaller, more innovative, and niche Marketing Keys are required to generate and keep your customers in the domestic cleaning business. Many areas are saturated with competition (just like most businesses).
In a fast moving economy and an era of unprecedented technological change, we need to be constantly alert to each new money making marketing key. Your business needs new Marketing Keys for each new lease of life. Or you may need to alter the service you are in, or do something else as well. We all constantly have to change our marketing strategy, adapt to new technology.
When you find business dries up, and your old methods no longer work, you need new products, new services, new approaches and a new marketing strategy. The word 'Entrepreneur' is taken from the French - 'enter', 'take', 'move on' (to something else) / exit. You may offer new services, to generate several income streams from niche elements of your service. In cleaning agency, you could separate out 'ironing' from 'cleaning'; offer ironing as a stand-alone niche service along with other laundry / housekeeping services. Where once you were able to rely on a single source of income, now due to competition you may need several little niches. Develop new ways of marketing your service and products and drop what no longer works.
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