Wizard Wisdom

Craig Arthur sends this to me:

Dear Scott, Often as a business owner, the biggest limiting factor you'll face when it comes to marketing and advertising success, and ultimately revenue growth is YOU. It takes courage to realise that. How's your courage level? "The marketplace pie is shrinking for most business categories. If, in fact, fewer customers spend fewer dollars in your category in 2009 than they did in 2008, doesn’t it make sense that you enact a plan to increase the size of your slice?" - Roy H. Williams In This Issue: How Can I Get More Customers? Business Predictions for 2009 Articles I Like: Click the link to go to article. Ecommerce Alchemy: Turning Disgruntled Customers Into Brand Advocates On CMOs, Customer Service, and Birthing Elephants The Collapse of Trust Wyoming Working Hard to Become a Pioneer in Web Tourism Upcoming Seminars: Marketing Performance Seminar 19-20 Feb 2009, Denver, Colorado. 2 days of marketing wisdom for only $99 (if you are a business owner). Books I Recommend: DaVinci and the 40 Answers, a Maverick, Cold Shower Kick to Your Creativity by Mark Fox. If you need new solutions to grow your market share you need to buy Mark’s book. How Can I Get More Customers? By Craig Arthur That’s the question I am asked most. Before I have time to open my mouth the follow up question hits me, “Should I use TV, radio, newspaper or flyer's?”. And then, “What about yellow pages, do yellow pages still work?” The really quick manage to get in, “What about web sites… my brother in-law knows a guy who can do me a cheap website, will that work?” The first flaw in the above line of questioning assumes that the choice of media is the answer to more customers. “What media should I use?,” is a debate that diverts attention away from any possible solution to the opening question. Media selection is not the answer to getting more customers. The message you send out via the media is what attracts or repels customers. So back to the question… “How can I get more customers?” In the Monday Morning Memo “Breakthrough Answer 13. Turn It Upside Down. Do It Backwards,” my business partner Roy H. Williams offers this advice. Continue reading... How Can I Get More Customers? Business Predictions for 2009 Edited from original Memo - “A Preview of Coming Attractions.” The air is cold, the sky is clear, these are my trend predictions: Cheap Thrills “If it feels good, do it.” Sales of alcohol, movie tickets and ice cream will increase. This happens during every recession. How might you offer your customer an altered consciousness, an alternative reality, an escape from the merely mundane? Think about it. Repair Instead of Replace “Instead of buying a new one, I’ll hold on to the one I’ve got.” Sellers of new houses, new cars, clothing and jewelry are going to have to get creative. Repair businesses will trend magically upward. Expensive items will find their way to eBay as we liquidate the luxuries we bought in better days. Resale shops will appear in nicer parts of town. How might your business participate in this trend? Tightrope Budgeting “Should I shepherd my resources or push harder than ever?” Market share is up for grabs because your competitors have slashed their ad budgets. Should you hunker down and try to hang on, or push harder than ever while your competitors hibernate? Some businesses will quit advertising and go broke as a direct result. Other businesses will advertise aggressively and go broke because they lacked financial staying power. Your correct course of action depends on your competitive environment. Do you know how to read your competitive environment or do you need help? Fewer Competitors “If the economy stays tough and fewer businesses occupy my category, won’t that leave more for me?” (1.) What was the sales volume of the failed competitor? (2.) How much has your category shrunk? If the competitor’s volume exceeded the shrinkage of your category, you might see some benefit. But if your competitor was a minor player, the shrinkage of your category will erase any good you might have experienced. You’ll get a larger slice, but of a smaller pie. Media Makeover “I walk to the end of the driveway each morning to retrieve a newspaper telling me things I’ve known for 24 hours.” Very few newspapers are healthy. The New York Times, that standard bearer of journalism, would have collapsed but for last week’s infusion of $250 million by Mexican billionaire Carlos Slim. With that newspaper’s $1 billion in debt recently reduced to junk-bond status and only $46 million in cash reserves, the Times would have failed in May, 2009. In the past, “columnists” and “reporters” were merely people who had access to a publishing pipeline. But in an Internet-connected world, isn’t every blogger both columnist and reporter? Last week MSNBC.com said, “Got some good photos of the inauguration? Send them to us.” How many more months will pass before newspapers are published digitally and round-the-clock from volunteer reports submitted from around the world? Websites are Essential Hillary Clinton and John McCain underestimated the power of the Internet. Barack Obama did not. Now tell the truth, don’t be embarrassed: Was your website designed by an acquaintance who “is really good with computers?” Someone who “knows all about the internet?” Then why isn’t it doing more for you? This is the year to get serious about your website. Your webmaster is learning by trial and error. You should buy him or her some expert guidance. Previous stories, just in case you missed them: Develop Your Business Experience Using The Five Senses The Secret of Success Connection Vs. Control You Need to be Near and Far Sighted to Grow a Business Introverts and Extraverts Sending out a Flyer? 2 Factors You Must Understand A Closing Thought Where do you get your business ideas? “…most high-growth companies have adopted some form of process to capture ideas from the front lines. Some of these processes are formal… Other are less formal, with ideas bubbling up from below. Generally, all ideas are quickly tested. The good ones survive; the bad ones are put to rest, but with respect.” - Jim Champy, from his book, OUTSMART! How to do what your competitors can’t. Craig Arthur Wizard of Ads PS. Need help to attract more customers and grow your business? Australia Call (07) 4728 4866 or email craigarthur@wizardofads.com North America Call 308-254-2732 or email daveyoung@wizardofads.com Call 440-610-9746 or email tomwanek@wizardofads.com We will never try and sell you. You may punch us in the arm really, really hard if we do. Call or email to book a FREE alignment meeting. No obligation. No pressure. It is at this meeting we both decide if there is a fit between our 2 companies. It is only then can we explore your options. We will never try to sell you. Call (07) 4728 4866.

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