The First Three Laws of Attraction Marketing
What is attraction marketing and how can it help your business? Attraction marketing is an approach to reaching prospects by attracting them to you and to the products and services that you offer. There are many methods to achieve this, but it requires a certain philosophical approach in order to be authentic and most effective.
One of the biggest benefits of attraction marketing is that your perfect clients will self select and be drawn to you. No more chasing leads and trying to sell yourself. Clients will be attracted to you based on your message, the value that you offer, and a built-in trust in your expertise. Attraction marketing can be quite powerful, and can grow your business dramatically.
Here are the first three laws of attraction marketing:
1. Know Exactly Who You Are
You cannot be everything to everyone, so stop trying. Why are you in business? Are you trying to solve a problem? Why do people do business with you, and if they don’t, why should they do business with you? Who are your competitors, and how are you different? Do you have clients who refer business to you? Have you asked them why they refer business to you?
These are all questions that you should be asking, if you are not sure of the unique or extra value that you bring to your clients. This is how you can determine your “extra value proposition”, or your EVP.
Many people confuse EVP with branding, but they are very different. EVP is a far more powerful tool in attraction marketing. Let me offer an example:
You have a contract that must be signed in order to move forward on a very lucrative project. There are many ways that you can accomplish this. You can save a few dollars and send it by priority mail. You can send it by UPS. But,- when it absolutely, positively has to be there overnight? Saving a few dollars does not enter the equation. It has to be Federal Express. See how the EVP works to help a customer “self select” your services? Yes, Federal Express also has strong branding, consistent logo and colors, but it is the EVP, knowing exactly who they are and what they have to offer, that attracts their perfect customers.
On the other hand, “What can Brown do for you?” I’m not sure. I just know that UPS has big brown trucks, but without an EVP, I have no idea what makes them uniquely valuable as a delivery service. See the difference? Once you know exactly who you are, you will begin to attract a client that is more appropriate for your business, and who is willing to pay more for the extra value that you provide.
2. Know Exactly Who Your Clients Are
Now that you know exactly who you are, you need to know exactly who your clients are. If you are just starting your business, this should be the first step, not the second. Assuming that you have been in business for at least a few years, let’s identify your best clients, and how to attract more of them.
In identifying and developing your EVP, you should have talked to a sampling of your clients. Your best clients have told you why they keep coming back and why they refer business to you. Your occasional clients and your former clients, told you why they don’t come around so much, or why they have taken their business elsewhere. This information is invaluable. It can tell you how to improve your products and services for greater appeal, or it can inform you of exactly what kind of client you should be trying to attract more of.
Integrating the message of your EVP into all of your marketing and sales processes, will quickly reactivate the clients that should still be using your services. It will also reinvigorate your current clients and generate more referrals. This is the essence of attraction marketing.
3. Make Them An Offer They Can’t Refuse
So, now you know exactly who you are, and you know exactly who your ideal clients and prospects are. Having this information should automatically tell you exactly what they need and want. This makes it easy to make them an offer they can’t refuse.
Depending on the nature of your business, people use your products or services in order to solve a problem or to enhance their lives in some way. It is always about decreasing pain or increasing pleasure. They come to you because you know how to solve the problem. They either don’t have the knowledge or it is too labor intensive to solve it themselves.
The offer they can’t refuse has to be so valuable that it causes your clients to want more of your products and services. It must be so valuable that prospects will want more information about your products and services and will gladly agree to engage with you in order to get that information.
Information is a powerful tool for attracting new clients and for reinvigorating current clients. It is especially powerful for reactivating former clients. This can easily be the offer they can’t refuse.
This information can be delivered in many ways. You can offer an online mini course delivered by email. You can offer a free report or eBook. You can offer a free webinar training or a weekly teleseminar. We are not talking about junk freebies here. This must be serious education to establish your expertise and to give serious value to your clients and prospects. This offer will build trust and confidence and will result in more business and more longterm relationships with your clients.
These are the first three laws of attraction marketing. If you only do these three things, you will see a major shift in your business. You will see a shift in the type of client that you attract. You will see a shift in your lead conversion. And you will see a shift in your profitability.
In my next article, I will tell you about 2 more laws of attraction marketing. In the meantime, let me know if this article was helpful. I welcome your feedback.
Business Loans: Make Your Dream of Own Business Come True
Business loans are a tremendous way to give new heights to your business by arranging suitable finance for your business related requirements. With these loans you can attain adequate financial assistance that enables you to cover business needs in an effectual manner. These loans can be a viable financial option for starting new business or for expanding existing business.With the help of these loans you don’t have to face embarrassing situation of asking fiscal help from friends or relatives anymore. These loans conveniently remove the frustration of financial shortages. Thus, New Business Loans enables you to grow your business front without any restriction or worries.Business loans can be availed in both secured as well as unsecured form. In order to get its secured form, you have to place any of your assets as a security to the lender against the loan. This may help you to gain larger loan money varying from £5000 to £75,000 till the longer repayment tenure of 5 to 25 years at lower interest rate.On the contrary, its unsecured form is free form the requirement of placing any security. Under this loan you are allowed to procure suitable funds in the range of £1000 to £25,000 for the easy repayment period of 1 to 10 years. This loan form comes with comparatively higher interest rate, due to the absence of any security.Thanks to the wonderful and popular internet facility that allows you to apply for business loans in a convenient manner. Online you can find many lenders with different loan quotes. By comparing these loan quotes effectively you can get the most lucrative loan deal at reasonable rates. Now you don’t need to visit many places for understanding the terms and conditions of loan.Under the provision of new business loans, you can freely use the money to accomplish your business related needs like buying a land for office, purchasing machinery or other equipments, buying raw material, paying salary to the staff and so on.So, manage your financial difficulties suitably with these loans.
3 Tips For Qualifying For a Business Loan
Since the economic recession in 2008, lending levels at banks have increased moderately. As the economy continues to grow and recover, entrepreneurs turn to banks and other lending sources to help in expanding their businesses to keep up with market demand. As a result of the Great Recession, most banks have restructured their business lending criteria to reflect increased scrutiny of business loan proposals and this makes it harder for business owners to qualify for a business loan. Although it’s difficult to obtain a business loan compared to a decade ago, there are several key tips that can help increase the likelihood of obtaining a business loan.Tip One: An Existing Banking RelationshipThe first tip in strengthening your loan proposal is to have an existing banking relationship. You can exponentially increase the chances of obtaining a loan by applying with a bank that holds either personal or business checking accounts. Banks make money by charging more interest on loans than they pay out for deposits. By applying for a loan with a bank you have deposits with, they can make exceptions to their lending policy based on the longevity of relationship with you. The number one unspoken rule of commerce is people like to do business with people they know, like, and trust.Tip Two: Present a Clear and Practical Business Loan ProposalThe second tip in qualifying for a loan is to present a clear and practical plan. Can you imagine the number of business loan requests the banker receives on a daily basis? Although most bankers won’t admit this, but they LOVE to receive business loan proposals that are clear and practical. Ideally, the loan proposal should only cover the highlights of the business project in addition to key facts on the borrower. The purpose of the business loan proposal is to spark the banker’s interest to learn more about the loan opportunity and possibly pursue a deal. A key document in the proposal is the Executive Summary because it explains in summary the purpose and intent of the business loan opportunity. This document is typically one page in length with key sections disclosing the loan opportunity, profit potential of the project, repayment analysis, and collateral analysis.Tip Three: Have a Compelling PresentationIn addition to having a clear and practical proposal, there’s a need to have a compelling presentation to aid in enticing the banker to approve the deal. Bankers are often frustrated with loan inquiries because they have no focus and lack organization. Bankers analyze over a hundred deals a week and most are sporadic phone calls or walk in clients that inquire loosely about loan opportunities with no firm basis of conversation. Clear and organized paperwork are key components in getting the banker’s attention and promptly progressing through the loan underwriting and approval process.As the economy continues to grow and recover from the Great Recession, banks are re-establishing proper business lending guidelines to help markets expand at an appropriate rate. Entrepreneurs continue to experience difficulties in obtaining business loans, but with these three tips, they can increase their chances of getting a loan to grow their business and increase their cash flow.
Business Loan Strategies to Buy a Business Opportunity
When buying a business opportunity that does not include commercial property, borrowers should realize that business loan options will be significantly different when compared to a business purchase that can be acquired with a commercial property loan. This problematic situation occurs because of the normal absence of commercial real estate as collateral for the business financing when buying a business opportunity. In terms of arranging the business loan, efforts to buy a business opportunity are almost always described by commercial borrowers as excessively confusing and difficult.The comments and suggestions in this report reflect business financing conditions that are frequently offered by substantial lenders willing to provide a business loan to buy a business opportunity throughout most of the United States. There are likely to be circumstances in which a seller will privately fund the acquisition of a business opportunity, and it is not our intent to address those business loan possibilities in this report.BUSINESS OPPORTUNITY BUSINESS LOAN STRATEGIES:Buying a Business Opportunity – Length of Business Financing to AnticipateBusiness financing conditions to buy a business opportunity will frequently involve a reduced amortization period compared to commercial mortgage financing. A maximum term of ten years is typical, and the business loan is likely to require a commercial lease equal to the length of the loan.BUSINESS OPPORTUNITY BUSINESS LOAN STRATEGIES:Expected Interest Rate Costs for Buying a Business OpportunityThe likely range to buy a business opportunity is 11 to 12 percent in the present commercial loan interest rate circumstances. This is a reasonable level for business opportunity borrowing since it is not unusual for a commercial real estate loan to be in the 10-11 percent area. Because of the lack of commercial property for lender collateral in a small business opportunity transaction, the cost of a business loan to acquire a business is routinely higher than the cost of a commercial property loan.BUSINESS OPPORTUNITY BUSINESS LOAN STRATEGIES:Down Payment Expectations to Buy a Business OpportunityA typical down payment for business financing to buy a business opportunity is 20 to 25 percent depending on the type of business and other relevant issues. Some financing from the seller will be viewed as helpful by a commercial lender, and seller financing might also decrease the business opportunity down payment requirement.BUSINESS OPPORTUNITY BUSINESS LOAN STRATEGIES:Refinancing Alternatives After Buying a Business Opportunity A critical commercial loan term to expect when acquiring a business opportunity is that refinancing business opportunity financing will routinely be more problematic than the acquisition business loan. There are presently a few business financing programs being developed that are likely to improve future business refinancing alternatives. It is of critical importance to arrange the best terms when buying the business and not rely upon business opportunity refinancing possibilities until these new commercial financing options are finalized.BUSINESS OPPORTUNITY BUSINESS LOAN STRATEGIES:Buying a Business Opportunity – Lenders to AvoidThe selection of a commercial lender might be the most important phase of the business financing process for buying a business. An equally important task is avoiding lenders that are unable to finalize a commercial loan for buying a business.By eliminating such problem lenders, business borrowers will also be in a better position to avoid many other business loan problems typically experienced when buying a business. The proactive approach to avoid problem lenders can have dual benefits because it will contribute to both the long-term financial condition of the business being acquired and the ultimate success of the commercial loan process.Copyright 2005-2007 AEX Commercial Financing Group, LLC. All Rights Reserved.