Monday, May 28, 2007

5 Step Marketing Makeover

As we move into summer and almost mid-year, I know that my attention is turning to measuring my business results for the year so far, and getting ready to gear up for my annual summer focus on program development and marketing. I received a great email from Marketing Mentor, Adam Urbanski, on Friday, with a fantastic, resource-rich article on 5 Step Marketing Makeover. I hope that this will provide you with some new marketing ideas. Thanks Adam!

"How to Give Your Business a Boost with a 5-Step Marketing Makeover"
by Adam Urbanski, the Marketing Mentor
Are you on track to hit all your business goals for the year? A quick check-up of your marketing efforts can reveal "week spots" and identify what needs tweaking to give your business a healthy boost in the next few months.

Here are five key areas to focus on with your pre-summer marketing makeover.
1. Clarify Your Objectives
(some prefer to call it goals)
Are you clear on where want to end up? If you are thinking this has nothing to do with marketing - think again!
You cannot design and implement effective strategies unless you know exactly what you want to accomplish.
If you are looking for a magic formula to give your business a boost here is a tip: there is nothing more powerful than writing down your objectives. Your ability to language and clearly articulate what you want to achieve, exponentially increases your chances of actually getting it!

2. Makeover Your Business Model.
Many of my clients "paint themselves into a limited-revenue corner" by structuring their business in a wrong way; no matter how hard they try, they can't seem to be able to
make more money, and only end up more frustrated.

Take Debra for example (not her real name). She is a successful small business consultant. Her well developed lead generation process attracts so many clients they
actually have to wait a few weeks before she can start working with them.
But she still makes only half the money she wants to make. Let me explain...
You see, Debra's business model is to deliver her services using one on one engagements and she can only handle about 15 clients at a time. With her average monthly client value
approaching $1,500 she's right on target to make just over $250,000.00 this year. But what she wants is $500,000.

Can you see the problem?
Chances are in some way, you might have a similar challenge - your current business model is incapable of producing the results you want.
What's the solution? Here are a few ideas:
=> Diversify your product/service offering. Analyze the needs of your clients and look for new ways to serve them. (You don't have to be the one delivering all the programs yourself; instead, form strategic alliances).
=> Find new ways to work with clients. If you work with people one on one start offering group programs. Develop tele-seminars or live workshops. You'll be able to attract more clients and exponentially increase your earnings.
=> Multiply yourself. If you consistently generate great results for your clients, chances are you have - and follow - a proven process.
One way to "multiply yourself" would be to train other professionals to facilitate and deliver your process to clients who are not willing to pay your rate - but will settle for working with your associate at a smaller rate.
=> Develop info products. There is almost no better way to leverage your knowledge than turning it into passive streams of revenue. If you are not exploring ways to package some of your know-how into products and programs, you are note only missing out on a huge opportunity to boost your bottom line, but you're being blindly optimistic in your
assumption that you'll always want to (and be able to) deliver your services as you do today.

3. Makeover Your Lead Generating Systems.
How many ways are you generating new leads? Do you have at least three to five lead generating vehicles that are systemized and automated?

Too many businesses don't understand the lead generating process and depend on vague methods of getting new clients - like "word of mouth" and "networking".
Not having structured and easy to duplicate systems to attract potential clients' attention and turn it into sales is a sure pathway to a total disaster.
If you need clients fast - consider direct mail, fax broadcasting, narrowly focused direct-response advertising, and strategic alliances.
You can also ask your current clients for referrals. And - don't forget the big one - reactivate your past clients!
Plus, to ensure long term positioning and visibility in your market place focus on publicity, getting speaking engagements, and writing and publishing articles.

4. Makeover Your Follow-Up.

Are you consistently keeping in touch with your clients and prospects? Do you have a way to automatically connect with them at least monthly? If not - you are only getting about
20% of the money you could be making!
Most people give up following up after just three attempts. And most prospects don't make a buying decision until they've been exposed to your marketing message at least five to seven times.
Do you see the problem? Here are two tips to improve your follow up and make your bank account fatter:
=> If you are not doing it yet, start an online or offline newsletter or create a monthly postcard
=> Use technology to automate your follow-up; online use sequential autoresponders that can be put on a total auto-pilot. Offline use fax and voice broadcasting technology to
leverage your time and connect with people quickly, meaningfully and affordably. Or use automated postcard services and printed newsletters.
Whatever methods you choose - make sure to regularly send
out information you come across that your audience would
benefit from.

5. Makeover Your Marketing Assets.
We all have a limited amount of time, and if you are spending it all working with clients you are not creating long-term leverage. Instead, you must schedule time every week to create marketing assets that work for you.
=> Invest in your own knowledge: read more books, attend high-end training programs, purchase home-study courses, and hire mentors to help you gain greater proficiency.
=> Become a perpetual learner and always look for ways to implement your new ideas quickly. Plus, make yourself more valuable to your clients by finding methods to transfer your knowledge to them in meaningful ways.
=> Continually build your credibility and positioning:
ask all clients for testimonials, develop new talks on your subject of expertise, create information products.
=> Give your marketing materials (like business cards, websites and brochures) a quick look-over. Are they consistently communicating the right marketing message?
Are they written in a lively, persuasive and client- relevant language or are you still insisting on
telling your prospects your company's history, vision and mission statement thinking they actually care?
=> Develop tools and systems: create checklists to make routine tasks easier to delegate, implement an extra follow-up step that can be automated or outsourced, record your talks and teleseminars and turn them into Attraction Tools.
Finally, keep this in mind: these are all simple things but combined they can make or break your business.
(c) 2003-2007 Adam Urbanski

© 2003-7 Marketing Mentors. All Rights Reserved.The Author, Marketing Mentor, Adam Urbanski, works exclusively with Independent Service Professionals who want to grow their business, attract more clients, and increase sales and profits. Visit his website for more free tutorial articles and how-to tips to creating a winning Marketing Action Plan


Anonymous said...

Great advice, especially for someone like me just starting out on my own. Thanks for sharing.


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