Dig the well before you thirst

Posted November 21st, 2007 by Dr James Pratt

In my last blog, we finished up our discussion about the seven strategies that can help you stimulate new business, increase business from existent customers and build repeat business.

Just to review our list, they are:

1. A Frequent Buyer Program
2. Discounting
3. Premiums
4. Packaging
5. Prepay
6. Acceptance of Major Credit Cards
7. Regulars Mailings To Past Or Present Customers Or Clients (My Personal favorite)

These seven simple marketing strategies can be creatively used many different ways.

You might want to use them as sort of an idea stimulating checklist for regularly scheduled brainstorming sessions with your associates. Many businesses benefit from a regularly scheduled once-a-month brainstorming and planning session to develop new marketing strategies for the coming month.

This is an extension of an important business success idea - the Master Mind Group. If you are unfamiliar with this idea, you should consult the classic success book by Napoleon Hill, Think and Grow Rich.

You may be able to use several of these strategies at one time in a given business. I believe it's best to use these strategies in the development of short term promotional campaigns. When you frequently introduce new, different promotions and special offers, you keep the attention and interest of your customers and you keep your own interest in your business high.

You may also want to schedule certain promotional campaigns to immediately precede and coincide with seasonal slumps that occur in your business. More often than not the reason business is slow at a particular time of year is mostly due to management's acceptance of it being slow. A favorite quote of mine is, "Dig the well before you thirst." You can usually head off an oncoming slump with effective promotion and marketing strategies.

Another excellent source of more promotion ideas is the book, "How To Get Big Results From A Small Advertising Budget," by Cynthia Smith, available in paperback in most bookstores.

Most businesses have unfulfilled potential to do more business, more frequently with existing customers and this can be a tremendous source of increased profitability.

Hopefully these ideas will help you tap that potential.


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