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October 21, 2009

Don’t be Dopey – Copy Disney!

The best marketer I have come across is Walt Disney and he used 5 simple strategies that anyone can employ. It’s about consistency, a good plan, and then practice to make it perfect.

Marketing is essentially all about the four P’s: Product, Promotion, Price and Placement. With the right product, placed in front of the right visitor at the right time, promoted in the right way and offered at the right price you are guaranteed success.

Put these 5 strategies into action, and watch the results:

1) Sell more to existing customers… especially while they are HOT!

What is noticeable about visiting any Disney operation and you will be offered the opportunity to buy additional products and services you are continuously offered other products and services. Once you are through that main entrance you are constantly marketed to with products, upgrades, special offers. Guess who spends the most money? Someone who is really enjoying themselves and Disney really exploit that by making sure their customers are satisfied and very happy.

Your easiest sell is to someone who has already bought from you so you must have a back-end sale that you can make immediately while they are hot to buy.

2) Expand Your Marketplace

When you have a winning formula export it, because that’s what successfully Disney did. They expanded from their US base worldwide with Disney attractions in the UK, Paris, Tokyo and Hong Kong and increased their marketplace and expanded their brand worldwide.

You too can easily expand your existing products by exploring other niches. For example; a guide to profiting from DVD sales might be originally aimed at product developers and entrepreneurs, but it could quite easily be rebranded to sell it to camcorder users. Or you might use that original DVD idea to enter another market such as training consultants and show them how they can leverage each training course they deliver by videoing it.

3) Continuous Promotion

You need to use many different strategies to constantly keep your brand in front of your customers. This is exactly what the Disney corporation do and they have a marketing plan that’s designed to keep their brand and message in front of audiences all over the world.

You will regularly see promotions on TV, in print, and on the Internet plus they also use the power of affiliate marketing in their joint promotions with Virgin Atlantic. To make your business the best you need to take every opportunity to continuously promote to give yourself maximum leverage.

What can you do to ensure every week you’re sending out a marketing message? Plan how you’ll place ads, submit articles, run press releases, improve search engine rank or offer incentives and then follow through. When you start to continuously promote you’ll see rapid results.

4) Always Improve and Add to your Offerings

Disney is always renovating, growing, building, expanding and improving at their theme and these regular improvements draw back repeat visitors, as well as impress new visitors… but just like McDonalds, they want your experience to be the same, time and time again… ensuring that you and your family come back and spend again.

It is a complete marketing cycle from the parks to the cinemas to DVD’s and themed toys and games. If Disney failed to continuously add and improve their profits would suffer and it’s a lesson you can learn from.

Developing and growing a business is about constantly improving what you offer and creating new products. Your product portfolio should constantly be reviewed and updated with new or better product that offers the possibility of recurring income.

5) Tracking Business

Disney knows exactly when its parks are busy and when they are slow because they track the numbers and they plan their marketing and promotions accordingly. Every business goes through a slow patch, the successful ones like Disney put a new promotion in place to improve sales.

You can carry out each of the previous four strategies, but this one is the key: you must have the numbers, and be able to track them. You should be focused on tracking the visitors to your site by knowing if you are getting enough traffic, how long they stay, what they look like, how they find you.

These are all key questions you must have the answers to. Then you can work out your conversion levels because knowing that will allow you to sell more by increasing your conversion, test different offerings, compare different landing pages… the list goes on and on.

Follow these five strategies that Disney apply week in, week out and see your business get that magic touch.

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