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Hi Ellen

Welcome to Marketing Talk's October newsletter.


If "octo" means eight, have you ever wondered why October is not the eighth month of our calendar year? 

It is the tenth month of the Gregorian calendar and the eighth month in the old Roman calendar. When the Roman calendar was created, October was the eight month after July and August - named after Julius and Augustus Caesar respectively.

So this month I'm mixing eight as a number and ten as a percentage to show you two ways to play with the 80-20 rule. The Pareto Principle is the law of the vital few, commonly termed 80% of your sales come from 20% of your clients.



Here are two more ways you can apply the 80-20 rule to your business

1. Honour referrals

The best test and measure of your advertising, networking and referral programs is to ask new customers how they found you. This is the best and cheapest market research you can get so don't just collect it, use it. Make a note of your top 20 clients and beside each write down where they came from. It is highly likely the majority will have come from referrals. Next step, note who was the referrer. Are you looking after the people who refer you the most business? Are you thanking them? Your existing customers are your best source of business and research shows that, on average, satisfied customers recommend two other customers. If you don't have a system for tracking referrals, you are leaving money on the table.

2. Reduce your effort by 5!

Selling is all about action based upon numbers. Most small businesses have the 80-20 rule working in their business, ie 80% of the business turnover is with 20% of the number of customers. So make the 80-20 rule work further for you, concentrate on selling additional products and services to the 20% in number. Reduce your effort by five!  Remember Seth Godin once said "Don't find customers for your products, find products for your customers."

 NEXT DIY TOPICS FOR YOUR LEARNING CURVE ...

 Coffee Conversation 22nd October "6 tips to position yourself as an expert"

How to marketing in small bites - no powerpoints, no upsells just sound marketing advice you can action immediately for $30. Join us at Sassy Cookie in Victoria Park for a relaxed way to make connections over a good coffee and cupcake.  

For more detail and to book online click here.


 Hands On Facebook Training For Business 12th November

This is not a "how to get started" workshop, it is a "how to leverage more marketing from the page you have".  Bring your laptop and join other small business owners all working on leveraging marketing from their own Facebook sites alongside you.  $297 includes wifi, bottomless coffee, morning tea and a handbook full of screenshots, function notes and step-by-step instructions. 

For more detail and to book online click here. 


WHAT IS YOUR MARKETING TIP?


Share it and win "Marketing and Advertising In a Nutshell" on sale in the online shop. This $27 ebook is packed with easily understood marketing theory plus 15 simple marketing tips and 15 formatting tips to improve your next ad copy. Email me your idea and with your permission it will be shared with readers in a future newsletter. Readers say they love marketing ideas from other small business owners so share yours!

How about this marketing idea!

Corporate trainer Greg Kinnaird shares his take on social media.  "Successful social network marketing is about having a solid process and routine to systematically communicate and deliver the creative message that your target audience values.  At the end of the day, most people want to be entertained by smart, intelligent, informative humour to break the boredom of their life and/or work."


Thanks Greg, sage advice and to see how Greg delivers humour Corporate Learning Solutions style visit his Facebook page.  For his tips, Greg receives "Marketing and Advertising In A Nutshell" from the online shop.


 

As Anita Roddick once said

 "Nobody talks of entrepreneurship as survival ... 

  but that's exactly what it is and what nurtures creative thinking."

  Until next month ...

 



 Cheers
       
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