How to Profit From the 6 Laws of Recession Survival

November 19, 2011 by  Filed under: Marketing 

Most promotion, advertising, and marketing stinks.

Here is an example, and this has probably happened to you… some hotshot salesperson comes walking into your place of business and tells you that you have got to get your name out there.

You ask, “What exactly does that mean?” He replies, “you know, get your name out there like Pepsi or Chevrolet or maybe Goodyear with their blimp.”

You scream, “go away!” since you are most likely not like Pepsi or Chevrolet with unlimited resource to just get your name our there… and you probably do not have easy access to a blimp.

If you are like the 99% of small business owners who are dissatisfied with the results they are currently getting from their advertising, then this article is for you.

The only type of advertising that you should be doing is what is called “direct-response advertising.” This advertising is measurable and accountable; in other words it is advertising that works.

Direct response advertising asks the customer to respond and allows you to track that response. Brand building, on the other hand, is advertising that gets the name of your business, product, or services out there but you have no earthly idea whether or not it is paying for itself.

Ninety-nine percent of all businesses cannot even think about brand building. Brand building will simply make you go broke. You may be told it will multiply your profits but you can not multiply zeroes.

Direct response advertising not only gets your name out there, it also gets your message, your offer, and your deadline out there; and it allows you to track the response. In addition, it uses many channels to enable this to happen including phone recordings, web pages, webinars, tele-seminars, free reports, articles, and brochures.

Since business is basically about winning the hearts and minds of valuable customers, clients, or patients, we must get attention, create interest, gain trust, satisfy with goods and services, wow’em with experiences and extras, sustain their interest, ascend them when we have an ascension ladder, become a meaningful and well-thought-of-presence in their business and lives, and motivate them to multiply themselves.

Since this is not the economy that you once knew, how do we take these basics and respond to new realities and new opportunities of the New Economy? This is a New Economy with a recession that refuses to end, where real estate will not recover, and joblessness that even $1 Trillion can not stimulate.

The key is to out earn the uncertainty and profit from the 6 Laws of Recession Survival.

Law 1. The Customer is all Powerful. You must look through their eyes, prepare for scrutiny, and quickly learn from it. Determine what they really want! Determine how you can get them to buy more! Determine how you can become more “buyer-friendly!”

Law 2. The Customer wants an Experience. Research, begin with the end in mind, listen to your Customers, and then create what they want. What story are you giving them to tell? What makes you and your offering different? Determine how you can create an experience and relationship about which they can brag!

Law 3. You must become more Valuable and less Dispensable; better Marketing, better Service, better Everything is now a requirement! Determine how many reasons you are giving your prospects to buy from you! Determine how you can grow that list! Keep asking if you are doing enough to make your value obvious and apparent.

Law 4. Money moves to Trust and an Unpredictable Economy demands it. What are you doing to create and sustain it before, during, and after the Sale? Whatever it is, it is not enough. Determine what more you can do. Ask, would you buy from you?

Law 5. Customers want what Customers Want. This is for Me, Now… to the extreme. Your goal must be to create a message that matches their needs and desires. You must make “giving you money” a Victory for your Customers! The Ultimate Secret is aligning With the times we live, aligning With your Customers. Not all Customers are created equal or respond to the same message.

Law 6. Segment and or create new Income Streams or businesses. You must divide and conquer to find customers with money; dig deeper into niches as the riches are in the niches. What Trends have you noticed about your Customers? How can you better segment your Customers to create more specific offers? Who else has Customers like yours that you can leverage and or cross sell?

The key to making money in an unpredictable economy is to out earn the uncertainty. In this New and Unpredictable Economy, in which a tougher and more demanding marketplace is emerging, customers have the power, ordinary products and services are not tolerated, money is spent with caution, sellers are scrutinized, and business success is earned not given. Be sure to understand and follow the 6 Laws of Recession survival to make money in this New and Unpredictable Economy.

I Hope You Enjoy the Article and I Trust You Found It Insightful! Let me Know What You Think.

Until the next time, I invite you to learn more about me and my various activities by checking me out at the links below.

Have a Great Day and More Later,

Mike Farrell

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When not traveling for business or pleasure, Mike operates his own internet marketing company and consulting firm from the mountains of Colorado.

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