Dig the Well Before You Thirst

By: Dan Kennedy on: March 19th, 2010 8 Comments

In my last post, 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. Payment Options
  7. Regulars Mailings To Past Or Present Customers Or Clients (My personal favorite)

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

You might want to use them as sort of an idea stimulation 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.

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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    Dan Kennedy is internationally recognized as the 'Millionaire Maker,' helping people in just about every category of business turn their ideas into fortunes. Dan's "No B.S." approach is refreshing amidst a world of small business marketing hype and enriches those who act on his advice. For more money-making marketing tips, tactics and strategies, go to www.GKIC.com

    8 Responses

    1. Charles Ra says:

      Most businesses have unfulfilled potential to do more business, more frequently with existing customers and this can be a tremendous source of increased profitability.
      yes, digging well, before we look for more customers. thanks

    2. This is a good article, and I agree with a lot of your list. However, you have to be very cautious with discounting. It can cause your product and/or service to lose some of it’s luster, and it can also make people discount dependent.

    3. Charles Ra says:

      recession proof
      I thing you missed the point
      Dan is making it clear here:
      discounting is probably the most commonly used marketing strategy in business. Just about every business in America uses discounts at various times in various ways. One word of caution about discounting: if it’s overused it loses its effectiveness.

    4. Len Foster says:

      Great post! Having a plan in place to beat a slump before it happens is plain old good business sense. It’s a bit like having a bucket of water available even though there is no fire yet.
      The more people dig into their business and utilise all the ways possible to create revenue streams the less likely they are to suffer badly in a recession.

    5. thank you for the “super seven list”…

      almost all, if not all, forms of all new potential revenue streams are based on these seven concepts…using this list in a mastermind setting or brainstorming session is bound to help one come up with new ways to profit off their existing businesses- or help them think of new ones!

    6. Ahhh… The power of the Mastermind Group. Nothing better for new ideas, feedback on current thoughts & strategies, and plain ol’ connection and camaraderie that entrepreneurs are sorely lacking — especially those of us who “get it” and think outside-of-the-box.

    7. Steve… I don’t know why Dale Carnegie gets all the credit :) Dan deserves much more of the credit then Dale does for the success of so many entrepreneurs… :)

    8. Rob Anspach says:

      Add to the list incentives!
      Incentives are a great way to entice existing clients with rewards for referring new business to you.

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