Do You Value Profits?

Do You Value Profits?

We recently had a comment from one our valued Daily Guerrilla Wisdom subscribers who expressed their thoughts about focusing on profits.  We love your feedback and the comments made us realize that it's an important topic to discuss.

The idea of focusing on profits in your business can elicit a range of thoughts. For some, focusing on profits is a fundamental measurement of their business and to others focusing on profits may seem inappropriate, egregious, unfocused and/or greedy. Having different viewpoints is valuable.

So, what if you chose not to focus on profits? Instead you just follow your passion and build your business without regard to making money or profits. 

At the end of the day, do profits matter?  They do to Guerillas. But, perhaps profits matter in different ways than some might think. 

“No matter how glowing the other numbers in your business may be, it’s the profits that should glow, that keep you in business, that enable you to grow your business, that attract investors, that entice buyers of companies, and that ought to be the prime reason you went into business." 

Guerrilla Marketing Remix (Kindle)

Guerrillas know that profits:

  • are the measurement of success or failure of a marketing initiative.
  • are the definition of successful creativity.
  • are the fuel for research and development of products and services that solve your customers needs and provide for their wants.
  • are the reward that your customers give to you for providing a product or service that improves their lives.
  • give you opportunities to contribute in meaningful ways to your community, beyond the service/product that you offer.

“It's your job to grow healthy profits every year. You owe that to yourself, your employees, your family and your future. That's why profits best reflect your success. Profits are elusive,. Profits are honest. Profits are hard-earned. But profits are not complicated.

They are the fifth of the five broad strokes of success, and they are crucial to your company's health. But earning them is not a winding road. Instead it is a straight road, possibly uphill, but always leading to exactly where you envision going." 

Guerrilla Marketing Remix (Kindle)

If you’re not focused on profits, do you have a business or a hobby?  A hobby is a great thing but on the downside - you’ll likely need a job to support it.

The value of profits is different for everyone but Guerrillas do, indeed, measure and value profits. Guerrilla Marketing helps businesses drive their profits.

“Guerrilla marketing embraces 360 degrees of communication, reaching target audiences in as many ways as are affordable and possible.  Your task as a Guerrilla is to be aware of all the marketing weapons available to you, to experiment with many of them and then to identify the combination of weapons that provides the highest profit to you.

Guerrilla Marketing Remix (Kindle)

How Much Attention Are You Giving Your Customers?

How Much Attention Are You Giving Your Customers?

“More than half your marketing time should be devoted to your existing customers. A cornerstone of Guerrilla Marketing is customer follow-up. Without it, all that you've invested into getting those customers is like dust in the wind." Guerrilla Marketing (Kindle)

If your business already has customers, you have fuel to help make your engine run. A Guerrilla knows that as a small business, your ability to be up close and personal with your customers, is one of your biggest advantages over your competitors, especially your larger competitors.

Your larger competitors are likely using software to "get to know" their customers. They are compiling their customers into groups, giving them labels, assigning value scores and then blasting them with messages they deem to be likely to generate more revenue and customer retention. The large competitor often focuses the most attention on their customers when the customer announces they are leaving. At that point that competitor uses their "software knowledge" of the customer to attempt to "save" them. Their "customers" quickly become data, statistics and probabilities.

Fortunately, a Guerrilla has the advantage. A Guerrilla knows that everything about their business is designed with the end in mind and that end, is delighted, loyal and interactive customers. They know the value of:

  • keeping things simple for the customer.
  • not wasting a moment of the customers time.
  • focusing on the tiny details that which make their business unique.
  • positioning the business in their marketing so the customers/prospects clearly understand what the business stands for.

“When you view marketing from the vantage point of the Guerrilla, you realize that it's your opportunity to help your prospects and customers succeed. They want to succeed at earning more money, building their company, losing weight, attracting a mate, becoming more fit, or quitting smoking. You can help. You can show them how to achieve their goal. Marketing is not about you. It's about them." Guerrilla Marketing (Kindle)

When you begin your business, you start with an idea of what your customers want. Every customer that you attract along the way is an opportunity for your to grow your knowledge about their needs, wants and desires which will help you to refine your positioning as you market to prospects.

Guerrillas know the value of one of the simplest acts that helps them acquire this insight into their customers; they ask questions and they listing to the customer.  

“People enjoy being asked about themselves; they enjoy talking about themselves.  Take advantage of this human characteristic by asking questions of your customers.” Guerrilla Marketing (Kindle)

The more questions and the more answers, the more you can see the world through your customers eyes. A Guerrilla uses that knowledge to continually improve their business and ultimately to delight their customers. Those delighted customers return to make additional purchases, they  tell their friends about your business, and they introduce you to opportunities to grow your business that are outside of anything you may have considered on your own. 

“When you ask the right questions, consumers will tell you what to do to make your business more profitable.  Simply by listening to consumers, you will do the smart thing far more often than if you simply decide to go it alone." Guerrilla Marketing (Kindle)

What Do Guerrillas Do to Stimulate and Drive Traffic to Their Location?

What Do Guerrillas Do to Stimulate and Drive Traffic to Their Location?

Looking for ways to drive traffic to your physical business?  Guerrillas color outside of the lines when it comes to stimulating traffic at their physical locations.

  • Tastings (food and/or beverage). The more senses you can stimulate at once, the greater your opportunity for sales.
  • Work with your town to host community events at your location:
    • Green Market
    • Community Yard Sale
    • Chili Cook-off
    • Kids Festival
    • Charity Fund Raiser
  • Add convenience services:
  • Meet-up – host regular meet-ups at your location focused on a topic, networking or just socializing.
  • Host meetings for your local Chamber of Commerce or other business development organizations.
  • Host meet and greets with local personalities such as DJ’s (radio remotes), TV personalities, social media leaders and experts.

“The more publicity contacts you have, the more free publicity you’ll generate.  It’s that simple." Guerrilla Marketing (Kindle)

  • Fusion / Affiliate marketing with nearby businesses is also a great way to drive traffic to each other’s businesses.  Find a complimentary business and promote their offer at your location and your offer at their location.  To get your ideas flowing, here are a few examples of businesses that can pair well together:
    • Dry Cleaner – Shoe Repair
    • Coffee Shop – Wine Store – Wine Bar – Restaurants -Specialty Food Shops
    • Juice Bar – Gym - Yoga Studio – Pilates Studio - Fitness Apparel Retailer
    • Flower Shop – Gift Shop - Party Shop
    • Tire Store – Oil Change – Gas Station - Car Wash
    • Bicycle Shop – Athletic Shoe Retailer – Fitness Apparel Retailer - Food/Nutrition Store
    • Groomer – Pet Store
    • Hair Salon or Barber – Massage Location – Clothing Store – Nail Salon

“This time-honored way of doing commerce without spending money is common, very effective, and extremely simple to set up.  All you've got to do is ask.  Most business owners will go along with the idea because it makes so much sense.” Guerrilla Marketing (Kindle)

  • Give-Away/Freebies are a proven traffic driver. Whether you are giving away a free demonstration/presentation/seminar, a sample of something you sell/produce or you utilize an offer from a Fusion/Affiliate partner, people respond to free. Offering something for free helps you build relationships and trust which open the door to long lasting opportunity. Guerrillas appreciate long relationships with their customers.

“Guerrillas relish people who want more data… Prospects who have requested the data provide opportunities that don’t get much more golden.” Guerrilla Advertising (Kindle)