How Bizs Grow
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Transcript of How Bizs Grow
Research Study:
New Evidence Reveals How to Grow in an Uncertain Economy
Critical strategiesAvoidable MistakesNew Business Approaches
Trailer Version
© Copyright - 2010
Why did Early Express commission a research-based study?
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This study was developed as a public relations effort and as a way for us to help the companies we work with to grow and prosper.
When they grow… we grow!
Researched and produced by
© Copyright - 2010
Major drivers of stagnancy
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The Report includes 4 Reasons Companies Fail to Grow
Top Reason: Poor Marketing•64%- Minimize the importance of promoting the business properly•55% - Don’t understand the competition•47% - Too much focus and reliance on one customer/client
Source: U.S. Bank Study Business Failure 2008
© Copyright - 2010
Advertising can prevent stagnation
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Source: Forbes Magazine, June 2008
The Report includes 4 Marketing Mistakes
Mistake #3: Reducing Budgets
Forbes Magazine reports…• Reducing ad spending by 50% for
one year meant a 23% drop in revenue…..with a 2 year recovery period
• Totally eliminating ad spending meant a 75% drop in revenues and a 5 year recovery period
© Copyright - 2010
Strategies for Growth
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Source: Direct Marketing Association 2009
The Report includes 3 Marketing Strategies Designed to Grow your Company
Strategy #3: Use tactics you can target and measure
New Personalized URL technology can track which prospects hit your website…in real-time.
Some of the more effectively designed programs can achieve returns of 20 to 30 percent.
© Copyright - 2010
Top of Mind Awareness
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Source: : DMA: Power of Direct Marketing Report December 29, 2009: 2009 Direct Marketing Association: Response Rate Report: March 3, 2009
The Report includes The 7 Musts of Marketing for Top of Mind Awareness
Must #2: Direct MailDirect Mail’s ROI is increasing even in today’s climate an investment of $1 in direct marketing advertising, on average, across all industries, produced in incremental revenue … even in a downturn of:
•$11.61 - 2008
•$11.65 - 2009
•$11.73 - 2010 (projected)
© Copyright - 2010
Producing Revenue
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The Report includes 7 Steps to Revenue Producing Marketing
Step #2: Develop “Dream Prospect” list•Identify prospects who will pay larger margins, buy faster, in greater quantities and more frequently than any other buyers.•Attack this smaller, targeted group with repeated marketing efforts.
Source: The Ultimate Sales Machine author: Chet Holmes