A Marketing Savvy Professional Is Our Best Client
This is the same system we use to attract the clients who will benefit the most from our services, our best clients. That’s why we want to tell you the top 5 Marketing Mistakes that Business Owners Make that are costing them hundreds and thousands of dollars in potential revenue and the 3 questions you should ask to ensure you are choosing the right marketing system for your needs. So, let’s get started with the first mistake
The top 5 Marketing Mistakes that business owners make that are costing them hundreds and thousands of dollars in potential revenue
Mistake #1
They don't identify and market ONLY to their most profitable clients
It is crucial to identify and deliberately market ONLY to your most profitable clients. Most business owners are wasting their precious time and money on the wrong clients. They are marketing to people who cannot or will not buy their products.
Mistake #2
They don’t practice PRE-SOLD lead generation through education.
They do not develop an irresistible marketing message that ALWAYS attracts and persuades their MOST profitable client and sets them apart from their competition by educating their clients. People are not afraid of spending money they are afraid of making bad decisions. So why not help them make a good decision by helping them to choose the right product and the right service for their needs.
Keep in mind that only 1-5% of people who are considering buying a product are ready to have it that time. Which means that 95-99% are looking for information. So give them the information they are looking for and you will be the one they come to when they are ready.
Mistake #3
The vast majority of business owners don’t incorporate leading edge multimedia strategies that work together to educate and sell to their most profitable clients.
- Knowing who your clients are and knowing what to say will not give you the results you are looking for unless you actually deliver your message in a way they are open to receive.
- Your Clients are Multi-Sensory and have a preferred method for receiving information.
Some may…….
- Need to read data for statistics and credentials, or
- Need to hear you explain the procedure , or
- Need to watch video Testimonials, or
- Need to see “before and after pictures”, or
- Need to feel SAFE with your expertise, etc.
- Nowadays you can’t just use direct mail or put an ad in the paper and expect to have a thriving business, because more and more businesses are using Multi-Sensory multimedia marketing to reach their clients:
- Website
- Direct Mail
- Video
- Audio
- Education Based Live presentations
- People expect more. You need a strategic message delivery system to get and keep the clients you want. You need to incorporate multimedia marketing in your business growth plan.
Mistake #4
Not leveraging your marketing efforts by systemizing and tracking
your “7 Key Profit Drivers”.
Marketing is so much more than just getting new clients. Which, is by far the most costly way to increase your profits. There are 7 ways to increase your bottom line profits but most business owners are still focused on getting more new clients. How you get those new customers and what happens after they become clients make a big difference in the bottom line profits of your business. When developing a marketing blueprint we incorporate all “7 Key Profit Drivers”.
- Number of New Leads: The number of prospects you acquire from your marketing efforts
- Conversion Ratio: The percentage of prospects who become clients.
- Number of Transactions Per Year: The average number of procedures per client.
- Average Transaction Value: The average amount of each procedure.
- Profit Margin: Your net profits
- Number of Referrals: The referrals you get from your new clients.
- Average Buying Lifetime: The AVERAGE number of years your clients stay with you
You don’t have to make big improvements in these areas to see massive results. All it takes is strategically planned small, incremental improvements, and the results will be exponential!
Mistake #5
Don’t have an ongoing follow up and support from marketing experts. Having your marketing materials and developing a plan does not always mean implementation and monetization of your investment. Ongoing support on how to best use these tools and make the most of your marketing system as your business evolves is critical for your marketing success.
Our clients are enrolled in MBA Protégé program and have access to the marketing expertise of our founder Ann DeVere once a week for 1 full year.
We are there to support you and your staff in:
i. Implementing the Specific Sales Process
ii. Implementing the Referral Marketing Program
iii. Follow through on your Drip Marketing Campaign
iv. Create Referral Bonuses for happy clients
v. Form and build on Strategic Alliances to generate leads
vi. Systematic Follow through on your Follow-Up Strategies
We have given some great examples of what you may be doing or not doing that can cost you hundreds of thousands of dollars in lost revenues. Now let's take a look at what you should consider when hiring a marketing firm.
Here are 3 Questions you should ask to ensure you are choosing the Right Marketing System for your Needs
The first questions you should ask is: Do they have a marketing system that identifies and focuses on your specific marketing needs according to your specialty?
How will they make you stand out in the crowd? What marketing campaign is going to set you apart from your competition?
The second question you should ask is: Will they be able to support the growth of your company long term?
Developing the initial marketing tools is just the beginning. The real profits are in a marketing system that works like a well oiled machine. You can only achieve maximum return on your investment by tracking, measuring, incorporating and implementing additional marketing strategies. Will they be there to help you implement every aspect of your marketing system so you can maximize your investment and continuously increase profits?
The third and very important question you should ask is: Do they have a team of marketing professionals who are trained to handle specific aspects of a proven and effective marketing system and work together seamlessly?
People think they save money by “piece-mealing” specialists together without a true plan. They end up coordinating efforts themselves, but it doesn’t work. It costs them in both time and money. You need a leading edge, multimedia production team that understands your overall marketing strategy.
In this age of technology, it’s more than just creating a website, it’s creating an online “infomercial” that educates your customer on your expertise and walks them through your sales process.
It’s more than just having a videographer who can shoot a video. It’s using a team that understands how to strategically utilize this powerful medium to build your credibility and visibility.
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