In uncertain times, generating extra income can be a source of comfort. Whether you suddenly find yourself at home and unable to work, or you have a few extra hours without your commute into the office, it’s a good time to focus on growing your side hustle.
We know that one of the greatest challenges for entrepreneurs and small business owners is growing and generating new business. Selling can be tough for many of us.
But, there is good news! There is a way to grow your business WITHOUT selling. Succeed On Purpose and Terri Maxwell invented a methodology that enables entrepreneurs to grow their businesses authentically, doing activities they enjoy!
The key is learning how to generate demand. Think of it as building a relationship with the buyer.
So, how do you generate demand?
- First, understand the difference between demand generation and lead generation.
- Second, don’t assume advertising creates growth.
Understand the Power of Demand (versus Lead) Generation
Most businesses try to grow by “selling” versus creating demand. So, what’s the difference? Whereas “selling” focuses on the promotion of a product or service, “creating demand” requires an obsessive focus on providing value, which is critical in times like these. How do you provide value? You engage your target market and cultivate a relationship with them by understanding what they need and offering valuable tools and educational tips before they are ready to buy. Serve vs. sell.
Additionally, creating demand requires finding ways to engage satisfied customers in telling your story. When a customer believes in your brand and product (when they have been served well), they will share your message and refer others. And by giving your customers something of value that THEY can give away (special discounts, free tools, samples, etc.) you give them an opportunity to serve their friends and associates.
Succeed On PurposeFounder, Terri Maxwell, cites two strategies to generate demand.
- Slow down and shift thinking from action to impact. What impact are you trying to make? Is it selling stuff or serving your buyer? Impact is the key.
- Focus on differentiation. Differentiation isn’t just about “being different.” True differentiation is “being different in a way that matters to your target market
Don’t Assume Advertising Creates Growth
Small brands inadvertently assume that advertising creates growth and do not realize that promotions and discounts not only decrease profit, but rarely drive consistent revenue.
Advertising is not effective at generating a return on investment. Especially for small businesses.
Every small business needs to grow, and every business owner makes the same fateful mistake – assuming advertising will singlehandedly change the company’s growth trajectory.
The truth is, your business should grow profitably and consistently. Heavy discounting and advertising won’t achieve that objective. The key to small business growth isn’t more advertising. Period.
Small business growth is the byproduct of 3 things:
- Having a great product/service (which should remain your top priority)
- Understanding how to differentiate your brand in a way that matters to your buyer
- Implementing a plan to consistently generate demand
Are you ready to build your company? Maybe it’s time to consider a more authentic approach to demand generation. Create a growth strategy that includes building a relationship with your target market and cultivating value rather than “selling” and offering discounts.
So, are you ready to learn how to successfully grow your business without selling?
The Succeed On Purpose Authentic Demand Generation™ Program throws away the uncomfortable and, in many cases, inauthentic marketing techniques taught elsewhere. Designed with over a decade of research in growing purposeful businesses, Terri Maxwell created this powerful methodology to ensure the process of growing a business is authentic, genuine and fun.
Authentic Demand Generation™ means that you won’t have to “get people to buy” anything. Instead, you’ll master skills to build relationships with buyers in an authentic and meaningful way. Over a short span of time, these techniques ensure buyers become aware, interested, and have a desire to do business with you.
Choose the Authentic Demand Generation program that’s right for you.