Meet LMR, Credit Repair Software Developers
The best part of what we do as marketing consultants is being able to work with so many great companies in various industries. There’s never a dull moment. Some of our clients have products that are still in development, all are trying to increase sales, while others have products that are nearing the end of their life cycle desperately needing fresh strategies.
Effective online marketing strategies change rapidly, hot ideas today are cold and saturated bad ideas tomorrow. It’s the innovative companies, able to brand, communicate and adapt to changing markets, who are winning today. As I pondered what to write about, the idea hit me to start writing about some of our clients and sharing their challenges, strategies, failures and success stories. Hopefully you will see some similarities in your business and will contact Woo Media Works to discuss them. So here goes…
Two of my clients, who I am going to tell you about are in the credit repair industry. To share with you the potential market size for credit repair, it’s estimated that over 60 million Americans have problem credit. The US credit reporting, credit bureau services and credit repair business is a multi billion dollar a year industry. When you have these kinds of prospect numbers you have tremendous business opportunity. It’s no wonder why there’s so many ads to start your own credit repair business.
My client, LMR International, developed Credit Money Machine Net as a professional credit repair software. Any reputable credit repair company, wanting to be successful, must use some kind of software to assist them in managing the business. Credit Money Machine is the most powerful professional credit repair software on the planet! It takes the place of 5 to 7 credit repair processors and is intelligent plus adaptive.
What makes the software so powerful is that it’s designed to run the business from A to Z. Email, Accounting, Financial, Marketing, Task Management, Contact Management, Client Communication, Affiliate Communication, Reports, E-commerce are all parts of any successful business.
The first challenge for LMR was that they recognized that they weren’t software marketers, they’re software developers. Their competition has inferior software but do a much better job in marketing. The second challenge for LMR was price, the full business solution wasn’t the cheapest software on the market as you can imagine. So, how do you get your customers to make a logical buying decisions, considering hundreds of factors which they don’t realize or understand could be a major issue next week and to not make the decision solely on cheaper price? How do you convince the customer to buy your software which allows them to do in minutes what takes 2 to 5 hours in other software? How do you convince your customer of the value of their time? These were a few challenges facing LMR.
Without making this post a 3 chapter book, I will highlight some of our broad strategies/solutions which have helped LMR experience over a 37% increase in sales over the last 2 years.
First, we analyzed their software from the user’s perspective and suggested various layout changes which made the software, developed on the File Maker Pro database platform, look more like a Windows software. We helped reconstruct their product websites assisting the information flow, telling the story all while making information easier to find. LMR added more hands on training, training videos and resources right in the software. SEO, link building, article posts, forum marketing, social media, video posts, keyword targeting are all part of the marketing mix.
Product pricing is always a challenge. How do you sell a Rolls Royce and convince the average person that you’re affordable? We suggested that they create a “Lite” version of the software which would compete with the low end credit repair software currently on the market. Credit Money Machine Lite became the low entry solution providing automation and speed that the others couldn’t. This is a strategy borrowed from the auto industry. LMR took it one step further and created a middle of the road product with Credit Money Machine Pro which adds more features than the Lite and includes the must have client and affiliate communication portals. The full business solution, Credit Money Machine Net actually went up in price but still leases for the same price as their leading competitor. So for the same price as their software, customers can have Credit Money Machine Full Business. What a country!
For financing, our suggestions for LMR was to implement an in house lease program along with an equity plan. The equity plan allows their customers to start with any of the software and upgrade and apply built up equity to the upgrade. This has been a huge success and has provided another source of revenue. With the introduction of live webinar demos with qualifying customers, the demo test drive now leads to more sales.
Understanding your marketing metrics is so important to any campaign. LMR through their software is able to track all of their advertising campaigns down to the IP address of their clicks to their received emails and phone calls. This allows them to measure in real time their advertising success with placed on promoting and supporting successful campaigns.
Yes there’s more to this marketing story than we have time to tell, we call that the “Secret Woo Sauce” and can’t disclose it all.
In these past 2 years that we’ve worked with LMR, the credit repair industry has changed; however LMR has been responsive to their customer’s needs often updating the software weekly. The FTC, BBB and LMR Software are leading the cause in pushing credit repair companies to clean up their act. One of these changes is supporting the Pay Per Deletion model, where it’s expected that credit repair companies do the work before charging their customer. LMR adapted their software and provided an awesome solution which allows their clients to contrast and compare credit reports within minutes. It’s this ability that keep LMR customers singing praises and leaving testimonials. If you’re interested in more information about Credit Money Machine for your business, let me arrange a demo and free trial for you.
Interested in repairing your own personal credit using credit repair software? LMR has a personal version at www.PersonalCreditRebuilder.com
How’s your marketing? Are you researching, measuring, strategizing, implementing, executing, measuring, researching and adapting? Let’s talk!
Next time I will tell you about our client CreditMRI.
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