6 Steps to Digital Marketing Success
Create your plan by doing these 6 items
1. Define Your Target Market – who they were previously, in your local or selling area and marketing opportunities with them
2. Write it Down – write who you are targeting and what are their emotional triggers
3. Identify your Value Proposition – why a customer chooses you. Are you unique with your product or service? If in doubt ask your customers.
4. Create Key Messages – these contain the key benefits you offer that the competition does not and research the landscape. Integrate this into PPC strategies, blogs, and other market messages
5. Scope Out the Competition – do a SWOT analysis of your competition (strength, Weakness, Opportunity, and Threat). Check their internet presence, ad campaigns, and use comparative software to analyze them. Talk to customers about their choices.
6. Check Out Your Digital Market – use keyword searches with google Keyword Took to generate relevant keyword lists to find the popular search terms around your keywords. Integrate the most popular words in your campaigns to trigger the search engines
Want more? Get the book …
The Digital marketing PROFIT ACCELERATION FORMULA
https://www.dropbox.com/s/g27plu0yypuqp3u/E-Book%20Digital-Marketing-Book.pdf?dl=0
5 Killer Mistakes – Part 1
There are 5 big mistakes you can do that will kill a deal with a big fish. They are:
- Not meeting the client’s expectations
- Mishandling a client crisis
- Taking on more than you can handle
- Putting all your eggs in one basket
- Up cash creek without a paddle
Any one or a combination of these can not only kill the partnership, but have the ability to take down your company as well. We’re going to take a bit of time to talk about each one of these, in this lesson we’ll cover the first two.
Not Meeting Client’s Expectations
It’s essential you give your client’s exactly what you promised during the negotiation portion of your relationship. If an event does happen where there is no way to meet the client’s expectations, not only do you have to find a way to fix the situation, but you also have to find out where it all went wrong.
A couple of things could have contributed to this problem:
- Bad salesmanship. This could mean the salesperson was trying too hard to seal the deal and didn’t listen to the client’s needs.
- Lack of communication. This breakdown occurs between the salesperson and your operations department.
In order to avoid these mistakes, you need to put a clear plan of action into place that all of your sales staff needs to follow:
- Think before you speak.
- Give yourself a break.
- Perfect your process.
- Pre-format over-deliverables.
- Stay hands-on throughout the entire process.
- Define success.
Mishandling a Client Crisis
Crisis’ will happen, but how you respond and fix them will define your company and interaction with your clients’. You need to respond quickly and effectively. This will help you gain even more trust and confidence from your client.
Some simple tips can help you deal with any client crisis:
- Take responsibility and apologize no matter who is at fault.
- Act swiftly and effectively.
- Step in and take control of the situation.
- Never point fingers or place blame.
- Stay in constant communication with your client.
- Stay calm throughout the situation.
- Keep your eye on the ball.
Now, that you know the top two mistakes you can make to kill a big fish deal, you’ll know better how to avoid making these mistakes in the first place and know how to put a plan of action into place in case of a crisis.
If you need help with any of this, try our GUIDED TOUR to get all the help you could ever need.
Next time we’ll talk about the 3rd and 4th killer mistake you can make in working with big fish clients.
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5 Secret Tips That The Pros know in Business Exit Strategy
In Australia, 66% of business owners plan to use the sale of the business as their primary income source in retirement. Only 20 % of those businesses that list succeed in selling. More businesses are for sale every year.
The aim is to make yourself redundant.
Your business needs to be able to operate without you. You need to go from just being an Owner to becoming a Leader.
So learn to let go, discard things, and delegate to others and free your time and your mind.
Learn to clear your plate and trust in your team while you steer the ship and deliver on the business exit strategy.
Why is this important?
Simple, someone wants an investment, not a job. They can employ someone to run the company, and it will operate and grow while they do other things or enjoy a holiday. The owner isn’t essential and they can still get rewarded.
Get it wrong and your controlling and poorly planned ways will cost you and your Business Exit dearly.
5 Steps To Follow
Complete these 5 steps and realise a higher sale value. Get it wrong and your controlling and poorly planned ways will cost you and your Business Exit dearly!
- Define the job roles that you intend to delegate
- Use Behavioural analysis like Extended DiSC to assess your team’s behavioral attributes and identify who is the best fit for a role
- Identify the gaps between what you need and who you have. Match to your resources.
- Compare the role attributes with your prospects. Can they be upskilled, moved, and take-on other(s) roles?
- Take time to test and implement the transition…go on short holidays
Every process needs to be tested, measured, and adjusted – these roles are no different.
Behavioral Profiles
Use a tool like Extended DiSC to identify or position people with the right behavioral attributes for specific roles within a team or organisation.
Matched correctly people naturally perform well and expend little energy. If they are poorly matched it is a high energy task and things will not flow for them …so get things flowing.
Over my business life and years as a coach & consultant, I have seen many errors that these simple steps could have resolved.
For a complimentary consultation click Contact Gary – The Business Profit Accelerator
THREE THINGS TO SYNCHRONISE IN BUSINESS ECOSYSTEM
Three areas are critical to having a good business ecosystem – no surprises here!
Firstly, Operational Excellence – Have smooth and effective operations that look for continual improvement. Have a system to do this as it provides a standard, structure, certainty, and allows replication and scaling. Documenting and measure your process, systems, Quality Control, Scope of Works, Organization chart, training systems.
Secondly, Customer Relations – Have good communication and feedback with customers. Nurture them. Follow up and report to customers where appropriate. What upsell, cross-sell, and down-sell can you offer. Repeat business = profit. Retention is cheaper than new client acquisition.
Thirdly, Financial Management – Money is made in business through Sales, Marketing, and cost control. The rest is cost-based. Know your costs, break-even points, and margins and what revenue is need to meet and exceed these. Consider your billable and non-billable staff. Know your overhead, tax, insurance, and HR costs. Reconcile weekly to avoid nasty shocks at months end. Watch your outstanding invoices and, encourage early payment.
THE CUSTOMER IS ALWAYS RIGHT…PERHAPS, BUT ARE THEY RIGHT FOR YOU?
THE CUSTOMER IS ALWAYS RIGHT…PERHAPS, BUT ARE THEY RIGHT FOR YOU?
Targeting your ideal A-grade client is a must however understanding who are the B, C, and D graders. We aim to understand the cost of doing business with a customer and how profitable are they are to the business – Weigh them!
On startup many businesses take any customers they can get. As maturity develops you understand your business and certain customers provide more gross profit than others. This is referred to as the GP sweet spot and this is a great measure of your best customers. A-Grade traits include – profitable, fewer service requirements, accepting of conditions, pay on time, repeat orders, good volumes, and fans of your business. They are aligned and loyal.
Alternatively, there are high maintenance clients who are C & D grade. They are demanding, continually seek reduced prices, bad payers, never happy, and sporadic in reordering. Often your Gross Profit is a lot lower, and yes they shop on price and have no loyalty.
Steps:
*Understand the Break-Even Costs in your business.
*Assess all your clients and rate them against metrics :
Sales Value, Gross Profit, Frequency of transactions, Ordering cycles, the true cost of servicing them (billable and non-billable staff), Complaints, Returns, Credit standing.
*Rate each metric with a score from 1 to 5. Put weight on the metrics that are important to you. *Add the scores and get a score for each client.
*This analysis will be telling. Most businesses do not know their client’s profitability and cost. Compare the profitability of each client to Break Even values. What is it costing you to do business with them? Are you making money? If so How much or little?
*On a distribution curve work out what qualifies as A, B, C, & D Grade clients.
*Then plot your client scores on the distribution curve.
Visually you see who are your best clients. Can you work with and elevate the B and C clients, or perhaps adjust your offering to match them? D grade clients are typically not profitable so look to pass them to your competitors.
Unweighting your inefficient client base and focusing on you’re A-Grade clients can be liberating and profitable. Previous time wasted on servicing the D Grades can now be applied to you’re A and B grade clients, doubling your strengths…opportunity cost has now become opportunity profit.
Your business has improved its flow already.