Savvy Marketers Know When to Decline Business


“I can’t spend money advertising something I know I can’t sell … It’s not worth it to me. Advertising is way too expensive.”

From Agents Balk at Overpriced Homes. The Record, May 7, 2008.

That quote is from a real estate agent who can’t convince some prospective clients to lower their home prices to a realistic level.

I bet other solo marketers, inside and outside of real estate, face similar dilemmas with clients they represent.

How do you persuade them to lower their prices to encourage offers? The answer, as pointed out by agents in the article, is that in most instances you can’t. Accepting them as a client won’t help either.

“If I have to show that house 165 times before I get an offer, that’s 164 times I could have been doing something else…”

The practice of marketing isn’t made easy by inflated prices in an economy where neither clients nor buyers will budge, so it’s okay to turn down this type of business.

There’s a flip side to this situation that may help you fare well.

One of my solo business friends is facing this type of industry-related problem. What’s her secret to capitalizing in this economy? She orders specialized reports on businesses from county agencies.

None of these owners have requested her support, but they still may be interested. She mails them a pre-printed letter to gauge their interest, and she goes after business from leads generated by those letters.

Her business is thriving because rather than pursue people with inflated expectations, she’s profiting from firms that are ready to do business.

I applaud marketers who bypass prospects due to foreseeable problems. Isn’t that what you do?

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May 8, 2008 | Filed Under Problems & Solutions | Leave a Comment 

How Do You Keep Your Email in the Right Box?

Do you find that some of your own Emails end up in your spam folder? You’re not alone. The same has happened to me.

Email is created from a man-made system, so it can and will contain faults.

The May 6th issue of BtoB reports that:

“One of every five permission-based e-mail messages sent to U.S.-based ISPs lands in the junk mail folder, according to an e-mail deliverability study by Lyris…”

What can counter this marketing blip? Here’s what I’ve done.

1. Encourage newsletter subscribers to white list my publication name and/or Email address.

2. Write short, simple subject lines that readers will understand.

3. Create a Web site for the sole purpose of adding my past communications.

4. Send my newsletter on the same day, faithfully, and generally at the same time.

Nothing’s foolproof. However, these tips may connect you with customers more often and keep your Email in the right box.

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May 7, 2008 | Filed Under Email Marketing | Leave a Comment 

In Marketing, Less Equals More Revenue

Some large businesses set practical standards that serve as models, and others make mistakes that are so blatant that you wonder how they became industry giants.

The giant I refer to is Home Depot who, last week, announced that they are closing 15 stores throughout the U.S.

From the May 2nd edition of New Jersey’s The Record:

“Some analysts and large investors have worried that as Home Depot got bigger, it would invariably put new stores in direct competition with existing stores…”

Here in the New York metro area (and probably in other U.S. regions), Home Depot is one of many chain stores that have broken two rules we learned in marketing class: don’t locate your business next to competitors, and don’t cannibalize your locations.

I committed the same infraction that Home Depot suffers from today with the same consequences.

One of my adult school classes is extremely popular, and I decided to offer it at numerous schools in the same region. This was a big mistake. I cannibalized my class, resulting in low enrollment numbers at each session.

Now I conduct classes at three schools rather than 10, and the enrollment fills each class because there’s no overlap.

If your marketing plan includes multiple locations, be sure to avoid cannibalization. As we see, the Home Depot approach does not always work.

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May 6, 2008 | Filed Under Marketing News, Revenue | Leave a Comment 

Can You Offer a Tax Rebate Incentive?

Are businesses in your area offering bonuses for using tax rebate checks at their establishments? They are in my area.

  • A supermarket will increase a $300 store gift card to $330.
  • An electronics chain will give customers a 10 percent reduction on any sale more than $50.

    • If your business services other businesses, there may not be many promotions open to you (though a savvy marketer might create some type of offer), but if you cater to consumers, a promotion that promises a bonus for purchases may increase your revenue.

    You don’t have to be extremely creative with this. First, look at what other firms present. Web site advertising can quickly be implemented, and direct marketing tactics must be decided and launched quickly to grab buyers’ attention as checks are received.

    A retail store might offer a bag of goodies to customers who spend $50 or more by a certain date. Those goods can be a mix of slow-selling merchandise which is placed into an attractive tote bag.

    I’m my best investment and will fund my retirement account as soon as the check arrives.

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    May 5, 2008 | Filed Under Customer Connections, Marketing News | Leave a Comment 

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