The Best Digital Marketing Techniques: Free Tips From a Professional Consultant

marketing techniques

In today’s digital world, you have to keep on top of different digital marketing techniques to stay relevant and reach out to your target audience.

Experts project Google to have a 32.4% market share of the net digital ad revenue worldwide in 2018. It remains the biggest search engine in the industry. With the digital age, it’s important to switch your marketing strategy to fit the internet landscape.

Majority of consumers today spend a lot of time online. It’s important to use digital marketing techniques that drive more people to your business.

The best way to grow your business is to hire an SEO agency. They have the know-how when it comes to digital marketing techniques. There are some things you can do on your own, especially if you’re starting to apply digital marketing techniques to your strategies.

Here are some techniques you can use like a pro:

Keep Up With the Upcoming Digital Marketing Trends

Of all the techniques you can use for digital marketing, “trend hijacking” is one of the useful ones so far. It’s best if you put your brand out there, especially on the World Wide Web.

There are a lot of trends going on in the digital world related to your brand that can help you gain a massive number of online audiences.

The best marketing techniques you can use to capitalize on this is to use tools like Google Trends to help identify ongoing trends.

If you have the right set of tools and the passion to stay ahead, you can strive and gain knowledge. This can help you surpass your competitors and make your way to the top.

Use Automation Apps

The digital marketing world is fast-paced and ever-changing. If you want to stay on top of your competitors, one of the best marketing techniques is to get into marketing automation.

It’s the best method if your marketing strategy involves result-driven approaches.

Market automation apps can help fill up the knowledge gap your business might have. There are a lot of apps out there that automate the promotion of your business. Some of these apps can do:

  • Automated e-mail marketing
  • Automatic Twitter tweet posting
  • Automatic Facebook feed posting

To test its degree of success, you need to observe the engagement and responses from your target audience. Some people prefer “real people” engaging them in your social media channels.

There are chatbots out there that can simulate an almost human-like conversation, so you can look for that if you want to get the most out of automation.

Optimize Your Marketing Techniques for Mobile Devices

A mobile-optimized strategy delivers a lot of value for a lot of businesses, especially local ones. Some mobile strategies faced controversies in recent times.

One of the reasons is the fact that mobile-responsive websites convert more people on higher resolution screens compared to the lower ones.

Google still keeps its mobile-first stance on the situation, but it’s undeniable that a large chunk of people online use desktops, laptops, and tablets for their online business transactions.

If you want to optimize your marketing techniques for mobile, keep these factors in mind. Build mobile-responsive websites that have relevant and engaging content, Call-To-Actions, and faster load times.

Use Social Media Marketing More

This marketing strategy is one of the newest approaches you can use to gain a massive audience for your brand. With large subscriber bases, social media networks like Facebook serve as one of your primary channels for brand promotion.

Facebook, for example, influences 52% of consumers’ online and offline purchases.

You can use social media trends to place your brand out for all subscribers to see. Recent changes to social network policies now make them more viable advertising platforms. It comes with a price since you need to pay these platforms to advertise you more.

The price is worth paying since the reach of Social Media is wide. You can target your ads to specific audiences that are more likely to support your brand.

Optimize Your Conversion Rate Through Your Website

When talking about Conversion Rate Optimization, it involves steps that help make your brand more attractive to your audience. It’s a systematic way of expanding your customer base and let you get the best out of your brand in different ways.

There are a lot of ways you can increase your conversion rate and reduce the bounce rate of your website.

The simple things like filling out forms, subscribing to your blog, clicking on a call to action, and the like can help persuade your site visitors. It helps you steer them into performing an action that you want. Using CRO can help you get more understanding about your website visitors’ behaviors and how to best adapt to it.

Make Your Brand Appear in Search Engine Results with SEO

You can use some SEO marketing strategies to focus on expanding your brand’s visibility on the search engine results without paying for the ads. What you need to have an effective SEO strategy is a technical knowledge that helps boost your rankings, drive more website traffic, and increase the search engines’ recognition for your brand.

There are a lot of aspects you need to consider when it comes to SEO, from the optimal word count to how other websites link to you online.

The main objective of your SEO strategy is to make your site in a way that search engines prioritize it more than your competitors. That way, you can get more customers and let your business flourish in this digital landscape.

Don’t be Afraid to Use Paid Marketing and Campaigns

Despite having an attached price tag, paid marketing is one of the most effective means for you to use search engines for paid ads. When you pay Google or Yahoo for advertisements, your website becomes visible at the top of the search results with the “Ad” label.

There is a lot of research supporting the fact that a lot of people online click more on paid search results compared to other forms of online advertisements.

When looking for things online through search engines, people who click your ads find it more relevant to their search queries. It adds another layer of legitimacy to your website since people will acknowledge the money you shell out to advertise your brand.

It’s one of the better marketing techniques to partner with your SEO efforts.

Familiarize Yourself with Influencer Marketing for PR

Another marketing technique you should capitalize on is influencer marketing. It’s one of the most recent and distinct digital marketing strategies that has its own set of benefits for your brand. You can link it to your content strategy, SEO efforts, and social marketing techniques.

Influencer marketing means that you promote your brand through the use of experts, influencers, popular figures, and other celebrities.

These people have followers that can change what people consider for buying.

It’s categorized under word-of-mouth marketing, which has the potential to spread faster especially when your influencer has at least a million followers.

Reveal the Power of Partnership with Affiliate Marketing

This is another of the many great digital marketing techniques you can use to market your brand online.

This type of marketing has a lot of similarities with commission-based marketing, where you pay your affiliate based on how they perform. When you engage in affiliate marketing, you only pay your affiliate if they’re successful at selling your brand to people.

There are a lot of companies that use affiliate marketing today, like:

  • Banks
  • Finance Companies
  • Travel agencies

Most of these companies report a successful campaign through this strategy. You can try it out and see if it works out for you.

Identify Your Goals to Know the Tools You’ll Need

Your marketing techniques should always tie in with your business goals. No matter what kind of goal your company has, you need to know the methods necessary to measure it. The method you’ll use to measure success depends on the kind of business you have, as well as the goals you set for yourself.

The metrics that you use can help you adjust your strategy based on whether you’re meeting your goals. Knowing the areas where you need to improve can help ensure that your business strategy is sound and adaptable as the digital marketing landscape continues to change.

Get More Digital Marketing Techniques Today!

There are a lot of great marketing strategies out there that you can use depending on the kind of business you have. Knowing what works can take a lot of trial and error on your part, especially if you’re doing it on your own.

If you want a more efficient way to implement your digital marketing strategies, getting an SEO agency is the best way to go.

If you need assistance with your marketing strategy, we can help.

We have a lot of experience working with various brands.

We can determine the right techniques you can use to ensure that your business thrives in the digital landscape.

Do you have more questions? We offer free consultations and services that can boost your company to the top of the search engine results. Contact us today to get you started on your journey to success.

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How Small Businesses Benefit from Fractional Marketing

How Small Businesses Benefit from Fractional Marketing

Not every business can afford to hire a top-notch marketing exec, or even have enough work to keep them busy for the price. However, pretty much any company on the planet can benefit from getting a dose of expertise from a seasoned CMO.

Whether that’s big picture consulting stuff, or deep dives into a few select problem areas, fractional marketing is a compromise. You get the benefit of having an exec on staff at a lower price. Check out some of the benefits of fractional marketing services, here.

What, Exactly is Fractional Marketing?

A fractional CMO (chief marketing executive) is an outsourced marketing expert you can hire to help you with your marketing efforts. Small and medium-sized businesses may find that they need someone on staff that can hel

Fractional Marketing

p them tackle a specific project and that their needs vary throughout the year.

Working with an expert on a project basis means that smaller budgets can still benefit from working with someone with the skills and experience needed to help you grow your company.

That could take the form of hiring a content expert who helps you implement a strategy, then helps you find quality freelance writers or digital creators that can flesh out your website.

Or, you might need help getting into the nitty-gritty of web analytics and learning how to convert data into actionable to-do items.

Sounds good so far, right? Here is a look at some of the more specific benefits of fractional marketing

Save Major Cash

One of the main reasons you should invest in fractional marketing service is, it’s an affordable way to gain access to top talent in marketing.

Unfortunately, when many companies make budget cuts, they do so at the expense of marketing, despite its boundless potential to drive sales. With a fractional CMO on hand, you’ll be able to pick and choose where those marketing dollars go. Plus, you’ll have the benefit of getting an expert’s advice on how to spend said dollars.

Help Fill in the Blanks Where Marketers are Struggling

If you have a young marketing team without much experience or a single marketer, spread too thin? In both cases, bringing on an outside marketing expert can help ease the burden, and help coach those team members with much to learn.

In this case, you’ll want to bring on the fractional CMO in a consulting capacity. Ask them if they can help you strategize and help your team learn the ins and outs of developing and implementing a marketing plan.

Over time, your team should be able to take over, develop leadership skills, or become SEO experts. Figure out where you are lacking and talk to your consultant about how you can go about fixing it.

Ultimately, you’re bound to see promising results as far as conversions are concerned, and your team will benefit from the real world education they get just by coming in to work.

A Fresh Set of Eyes

A fractional CMO provides a newfound clarity to your workplace. It’s always a smart idea to get a fresh set of eyes on the case, as an outside perspective can help you break old habits that might be hurting your business, or give you some insight into what customers see when they look at your product.

Business owners sometimes assume that they’re explaining everything to consumers in a way that makes sense, but in reality are putting out unfocused or confusing messaging. Working with an outside source can illuminate these areas at a fraction of the price it costs to hire a dedicated marketing person.

A Network of Experts–At Your Fingertips

Hire one full-time person and you probably just have access to their individual pool of knowledge. And no matter how smart and savvy your new staff member, there’s still the issue that one employee can’t be an expert in everything.

With a fractional CMO, you’ll find that this person doesn’t work alone. They probably have a team back at their office that can help them with certain tasks. If they’re a content person, they’ll be able to get you in touch with a data expert.

Revamp An Underperforming Team

If your marketing team is underperforming, you might not have the know-how to diagnose the problem, much less find a solution.

Your outsourced expert will be able to identify problems with staff, as well as weaknesses in the leadership team causing some of the problems.

Help With Digital Analytics

An excellent fractional CMO will know the ins and outs of digital analytics. If you’re not of the data-driven mindset, it can be hard to make the most out of your digital analytics, even if you’re reading all the right reports.

The CMO will be able to help you find the right software solution for your company, as well as turn reports into a to-do list your employees can use. Additionally, the fractional marketing consultant should be able to train the appropriate staff on how to run reports. And–how to use those reports to make informed decisions.

Ready to Get Fractional? Give MarketCrest a Try!

MarketCrest offers a range of marketing services, including fractional marketing. We know your marketing dollars can sometimes be the hardest to part with.

Fractional marketing can help you make the most out of a smaller budget–we’ll help with the big picture stuff, and help you hit your revenue targets through email and content marketing, SEM, and a whole lot more.

Fill out the form here to sign up for a free one-hour consultation. We’re happy to walk you through the process and get you started on the path to success.

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10 Marketing Mistakes Your Business Can’t Afford to Make

Marketing Mistakes to avoid by MarketCrest

 

Some business mistakes are more costly than others. In the digital marketing world, there are at least 10 marketing mistakes that you simply cannot afford to make and still expect to achieve your revenue targets. Here are 10 huge mistakes to avoid.

1. You Don’t Have A Written Sales Strategy

Make sure Marketing and Sales know the revenue target required to reach your annual goal. Factor in the length of the sales cycle, close ratio, repeat business, capacity, onboarding and time to pay. Also collect information on existing customer revenue, anticipated growth, churn and carry over (sold fresh the previous year and in the coming year will bill a full 12 months).

When you know what you need to sell… and when you need to get it sold and billed, you are ready to build your marketing plan. 

2. You Don’t Have A Written Marketing Strategy

What is your one-page plan for supporting the revenue goal the way it needs to be sold this year (products/services)? What is your marketing expense required to execute on your marketing plan and how will the cost be allocated across the calendar year? Not sure if you are investing enough on your marketing? Check it against your industry and small business benchmarks (often 3-10% of sales depending on your industry and how mature your market is).

Analyze the previous year’s category spend and determine what to cut or expand. Create a SWOT analysis if needed.  How many personas (target audiences) will you be marketing to and can you segment the existing contact information to match. Do you need to secure additional contacts? Do you need to secure resources to help you attain your marketing goals? Have you considered all the marketing tools and technology available to support marketers in this app heavy environment?

43% of companies have an executive in their organization who is directly responsible for an overall content marketing strategy. (Curata, 2014)

48% of B2B marketers have a content marketing strategy, and 35% percent have gone so far as to document their strategy. (Content Marketing Institute, 2015)

3. Your Website Pages and Content Weren’t Designed For A Specific Purpose

Personas and Keyword analysis will determine your web page content and content plan for the year. Understanding your target audience is key to designing content for a specific purpose. Do you have content designed to help your target market get through their entire buying cycle? What if they are “kicking tires” and what do you have for them if they are deciding between your firm and one other?

52% of marketers support two to four roles and buyer personas with dedicated content. (LinkedIn Technology Marketing Community, 2014)

48% of marketers use dedicated content to support three to five buying stages. (LinkedIn Technology Marketing Community, 2014)

84% of B2B marketers and 85% of B2C marketers are actively looking to gain a better understanding of their audience or planning to do so in the coming year. (Content Marketing Institute, 2015)

4. Your Website Is A Static “Billboard”

Google rewards websites with lots of high quality, fresh pages. Quality content increases the likelihood of increased traffic, lengthy stays and high page rankings. Create content that engages an audience, keeps them on your page, or makes them return.

90% of consumers find custom content useful. (Demand Metric, 2014)

5. Your Website Is Not Built for Conversion

It is important that your website has the ability to reel in consumers and offer them an option to become engaged with the company. This allows you to create engagement, nurture them during the buying cycle, monitor and score their activity and nudge them to convert.

61% of consumers say they feel better about, and are more likely to buy from, a company that delivers custom content. (Custom Content Council, 2011)

Website conversion rate is nearly six times higher for content marketing adopters than non-adopters (2.9% vs. 0.5%). (Aberdeen Group, 2014)

Examples: Do you have strong Calls To Action (CTA) on your web or landing pages? Many companies rely on CTAs such as Speak to a Specialist, Request a Quote/Sample, Get Help Now! Request a Free Consult,  Sign Up Here, Download Here, and Follow or Share our Social Media Links.

6. You Don’t Publish Content

Consumers want a service or company that they can trust. Trust comes from being a credible source. One way to achieve credibility is to become an industry expert online by publishing original content that customers or other industry leaders may reference when looking up relevant information.

Content marketing is a strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly defined audience – and, ultimately, to drive profitable customer action. It might be a blog article, web page, landing page, ebook, slide deck, video, webinar, photo, social media post, podcast, infographic, case study, white paper, check list, research paper, or a press release.

 75% of B2B buyers rely more on content to research and make B2B purchasing decisions than they did a year ago. (Demand Gen Report, 2014)

86% of B2B marketers report that their organizations are using content marketing, and 70% of them are creating more content than they did one year ago.

80% of business decision-makers prefer to get company information in a series of articles versus an advertisement. (Roper Public Affairs, 2012)

marketcrest repurposing content

 

7. You Don’t Repurpose Existing Content

Consumers like to consume content in various ways. Some like to listen, some watch and some read. If you understand this, you can create content that is helpful to your visitors and customers and maximize its reach by repurposing content. Example: One, high-quality blog post or article can be turned into a slide deck, video, email, tweet, facebook post, brochure etc. Invest in quality content and remember to repurpose it relentlessly.

 

8. You Aren’t Building A List Of Relevant Contacts

Having a list of contacts is crucial. Keep track of all consumers, industry leaders, people who have visited your website or requested information, referrals, etc.

Also know even a good contact list will decay by about 20+% each year because people are constantly unsubscribing, switching jobs, moving or getting new email addresses. As a result, you must be building your database of contacts 12 months a year. Having a long list of contacts creates a bit of a “tribe” that can support your business in good time and in bad. Share industry and company news; new articles, ebooks and research…then when you are ready to introduce a new product and service they will be there to provide advice and spread the word.

With a list constantly in a state of decay, pay close attention to the formula for List Growth Rate:

 What It Is: The rate at which your email list is growing.

  • How to Calculate It: ([(Number of new subscribers) minus (Number of unsubscribes + email/spam complaints)] ÷ Total number of email addresses on your list]) * 100

 Example: (500 new subscribers – 100 unsubscribes and email/spam complaints) ÷ 10,000 email addresses on the list * 100 = 4% list growth rate

As we suggested, there is natural decay on your email list. It expires by about 22.5% every year. Always be growing your list…

9. You Don’t Email Your List At Least Once Per Month

Look, you can’t kill email! It’s the cockroach of the Internet, and that’s a compliment. Resilience is a good thing.

These days all emails are not created equally. A savvy marketer with the right technology, can set up workflows for email nurturing, include images, personalize with customer names, segment, and provide CTAs optimized for mobile. You have people willing to listen. Doesn’t your business have something important to say?

91% of consumers check their email daily (ExactTarget) and 48% of emails are opened on mobile devices (Litmus).

74% of consumers prefer to receive commercial communications via email (Merkle).

66% of consumers have made a purchase online as a result of an email marketing message (Direct Marketing Association) Email marketing has an ROI of 4,300% (Direct Marketing Association). 

Your company will want to measure your email program’s effectiveness. The most common email metrics are: sent, delivered, bounced, open (open rate), click (click rate or click to open), unsubscribe rate and marked as spam. Find the right key performance indicators for your business so you can test, tweak and improve.

10. Your Business Can’t Be Found Online

Here is how you got in this situation…

1) you are not actively performing on-page and off-page SEO

2) you are not helping people find your firm by using paid search or Pay Per Click ads (PPC)…

Just because people can’t find your company online, maybe it’s not the end of the world. Some companies don’t require online leads to increase sales. If you are one of those firms congrats…you are blessed almost beyond belief. For most of us, our potential clients use the internet to research and jump start their buying process. If we can’t be found…then it’s like we don’t exist….

By 2016, more than half of the dollars spent in US retail will be influenced by the web. (Source: Forrester Research )

Content creation ranks as the single most effective SEO technique. (Marketing Sherpa, 2013)

In search engine optimization, on-page optimization refers to factors that have an effect on your Web site or Web page listing in natural search results. These factors are controlled by you or by coding on your page. Examples of on-page optimization include actual HTML code, meta tags, keyword placement and keyword density.

In search engine optimization, off-page optimization refers to factors that have an effect on your Web site or Web page listing in natural search results. These factors are off-site in that they are not controlled by you or the coding on your page.

Examples of off-page optimization include things such as link popularity and page rank.

If your company is not helping people find you by using paid search or PPC (a quick hit)…get started the right way.

Tip #1: Identify which organic keywords drive traffic and convert on your website.

Tip #2: Determine how much you’re willing to pay for a lead or conversion.

Tip #3: Don’t Go It Alone

Paid Ads are a great way to “test” new landing pages (copy and CTA).

PPC can be a good quick hit but it doesn’t compare to proper SEO and content marketing per dollar spent, content marketing generates more than three times the number of leads than paid search does. (Kapost/Eloqua, 2012)

Content marketing costs between 31 and 41% less than paid search, depending on the organization’s size. (Kapost/Eloqua, 2012)

Summary:

Make sure to have a written sales AND marketing strategy. Create a website that has SEO optimized copy; fresh unique content; is constantly evolving and more than a static “billboard”… and has landing pages that produce conversions. You will want to have a list of relevant contacts (the making of a “tribe”) and make sure to be contacting them at least once per month.

If you are operating without a formal sales and marketing plan designed exclusively for the current year and your annual revenue target…you are operating on a wish and a prayer. You can repair the damage quickly though…contact the team at MarketCrest a request a free consultation. Tell us about your current business challenges and imperatives and we will share how similar companies are solving those issues using online or digital marketing.

 

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How to Execute a Price Increase

How two raise prices, price increase

Managing the process of implementing a periodic price increase can be “harrowing”, but it should be a normal part business life. All too often though, we see increases deployed with mixed results.

The good news is there are steps you can take to ensure your price increase “sticks” and so do your customers. During the series, we will answer some of the most common questions on the topic.

We will share our experiences and suggest some smart moves to make, while warning you about a few dumb ones to avoid.

When is it ok to raise prices?

In general, anytime you can do so successfully. You perform quality work and should be paid according to your value. Never hesitate to have an internal discussion on the topic. You don’t have to approve an increase every time your team discusses it, but it is a healthy business practice to discuss increases on a regular basis.

Underlying assumption: Your company has decided to increase prices and now you must execute the increase successfully. Here goes:

First: Get your perspective right. Your business has to make money; and as long as it makes money… the business has options and a future. When you are ready to approach the client, be confident and fully professional. Don’t make excuses or seem sheepish. 
A price increase is often a business imperative. Truth be known, we don’t like to give them and our clients don’t like to receive them. But, as professionals, it is our job to implement increases and people are counting on you. So step 1 is to strengthen your mind and don’t look back.

Smart Pricing Move

“Steel your mind” with the knowledge that customers who threaten to leave over a price increase, tend to do so only 8-12% of the time. Clients know the cost of switching to a new supplier is expensive and risky.

Dumb Pricing Move

Go to the client meeting with thoughts of getting “any increase” because anything is better than nothing… dumb move. Establish what you need during the increase planning sessions and expect to get 100% of your target increase.

Planning For A Successful Price Increase

You shouldn’t attempt to raise prices without careful planning, and collaboration with your senior team. The stakes are high, so make certain there is a short, written brief that explains the basics. Circulate it internally to get sr. leadership feedback, and buy in, on your strategy and implementation plan.

The brief should cover at least these three points:

  1. Which products or customers get exactly what increase; and if implemented fully, what is the total financial value of the increase to your own company.
  2. The exact dates you intend to communicate the increases, to whom, and the main talking points.
  3.  The third point you should cover in the brief is a list of customers that are likely to kick and scream about the increase. You must then, detail the nature of the revenue at risk. Keep it simple and provide a 1-2 paragraph overview on each potential screamer, detailing how you intend to respond if major concerns arise.

Smart Pricing Move

Give your client at least 30 days notice of an increase. Anything less is unprofessional and risks your reputation and credibility with the client. Also, they may need to make adjustments on their end because of the increase. On a related note, never try to slip an increase by the client hoping they will not notice. They always notice, and it will go poorly for you when they do.

Dumb Pricing Move

Counting on your charm and relationships to “smooth” the increase over instead of taking time to prepare. Instead, during the planning stage, secure any proof sources or related third party documents supporting the increase. Think material, fuel, shipping, labor increases, etc. You may not use or need them, but they will be helpful to have in your back pocket in case they try to negotiate.

Speaking of negotiation, while this series is about the proper process for planning and communicating a price increase. At MarketCrest, we believe that Sales and Marketing leaders can have a significant impact on a team’s win ratio by preparing for negotiations in a certain way. We will share our experiences and how we approach negotiations in a future series.

How to Communicate The Price Increase

You and your team have thoroughly discussed the increase and why it is important it be executed professionally and completely. Your “mind is right” and you are firmly committed to the task at hand. (Step 1…check)

You have invested time to write a small brief covering the nature of the increase and your plan for implementation. It has been circulated among sr. leadership to gain feedback and approval. (Step 2…check)

When it is time to implement the price increase you start with a smart move.

Smart Pricing Move

In all client discussions (written or verbal) you will be firm while still showing respect and appreciation for the situation and your relationship. You make no apologies or excuses, keeping a kind, but business mindset.

Smarter Still Pricing Move

You also document all the instances over the past year where you have: been their hero; held/matched lower prices; upgraded customer facing technology; beat your KPI’s; saved them money; or helped them avoid certain expenses entirely. Cost avoidance is often overlooked. Having this data at your disposal will be critical to providing a full view of your financial value.

Remember to calculate the total impact to the client BEFORE they can. You might find that although there is an increase, it might not impact their current year financials as much as they imagine.

Mega Smart Pricing Move

In addition to the first two moves, you add the absolute smartest possible move… you provide the client options. By helping them explore options, you are being part of the solution and a valued partner. The client could keep the product/services exactly as is, or select/design a less expensive version. In some cases, they could test some slightly more expensive options with potential to provide a greater ROI.

Be ready with samples so they can envision the possibilities. If you have anything else new or fresh to offer, now is the time to bring it up. You might consider offering a minor incentive to your client for giving something new a try.

Let’s stop and respond to another commonly asked question. When it is time to speak with the customer, should I go it alone, or bring help? If you expect significant pushback and want to increase your likelihood of success, bring one of the sr. executives. Executives are usually willing to make calls in the field, and often, they can increase your odds. Just remember to select someone you have made successful calls with in the past.

Reality check

At this point, after presenting the price increase, you will either feel confident or very worried. If you are squirming in your chair, ask yourself if you did everything in your power to build exit barriers to your client leaving.

It is rare for a client to depart over a price increase, but strong sales and marketing leaders create solutions customized to their client’s business needs, in part to deter that option. Solutions customized to integrate into your client’s processes, render departing over a standard price increase, unreasonable.

Think special materials, staffing, programming, technology, processes, procedures, automation, reporting…all exit barriers that smart leaders put in place early and often. The relationship becomes a win/win and emotions stay in check during challenging discussions.

Closing Anecdote

Several moons ago, a client worth $8 million a year to us, asked for a 25% decrease in price and had competitive bids promising nearly $2 million per year in savings. Using the approach we have discussed in this series, and a few more we will cover in future posts, we avoided discounting our prices, and we raised them. Yes…raised them plus extended our contract two years. Aim high.

If this series exposed some areas of opportunity for you and your team, remember: “If you want improved results, you have to change how you do things.” That core belief is what drives us to be process oriented when solving business issues. Have a great week.

For more tips on business or marketing consulting, visit MarketCrest’s Consulting page or request a fee consult.

MarketCrest is a firm focused exclusively on Marketing Consulting & Services that drive revenue growth. Simply, we exist to help you compete and grow and we expect to be held accountable for your improved performance. Learn more, and receive a free 1-hour consult and Get Help NOW! 

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