When it comes to marketing, I often see business owners make the same mistake:
They chase after the “shiny objects” that promise quick, easy returns. Or, they emulate the marketing strategies of other businesses. However, they quickly learn that these fall short of their needs and goals.
Why are these methods sure to fail?
Your marketing strategy must be YOURS. A one-size-fits-all strategy simply won’t work for you. Instead, it must be customized to fit you, your brand, your business model, and, most importantly, your audience.
How do you build a Marketing Strategy that converts?
Align Your Marketing Strategy to Your Business Strategy:
A successful marketing plan is not a standalone effort. Your marketing strategy is meant to support and promote your vision for your company. Therefore, defining your business goals is a critical step towards determining the specific marketing strategies that will help you achieve them.
Set Your Goals and Budget:
Within your business strategy, start with your revenue goal. Then, break it down to figure out how many clients you need or courses you need to sell in order to reach that goal. This number will serve as your basis for what you need to accomplish in order to reach your goal.
Next, figure out your close ratio representing the number of people you need to talk to in order to sell your product or service. You will use this number to set a budget with the understanding you will need to spend money to generate and convert your leads.
For example, if you are offering a webinar, on average about 30-50% of the people who register will actually show up, 5-10% of those people will fill out an application, and 1-2% of those will sign up. Based on those numbers, you can figure out how many people you need to talk to in order to meet your revenue goals and how much you need to spend on marketing in order to reach those people.
Define Your Target Audience:
Who are you targeting in your marketing strategy? A clear target allows you to align your materials, campaign, and message to attract those specific people.
Why is this important?
Too broad a target and your message will fail to connect. When I ask coaches, consultants, and course creators who their ideal client is, I often hear them say things like, “I can work with anyone” or “everyone can take this course.”
When you try to speak to everyone, no one listens. You fail to capture the attention of your ideal client when your message is too broad. And, you waste money in your budget by marketing to people who will never convert to a sale.
However, just because you focus on a specific market does not mean that you’re completely eliminating potential clients who don’t necessarily fit your criteria.
Instead, target marketing allows you to center your marketing on the potential customers who are most likely to buy your product or services simply because your marketing campaign speaks directly to them.
Ultimately, because you’re focusing on those who are more apt to buy your product or service, targeted marketing enables you to maintain your budget and keep your revenue goals.
Develop Your Customer Journey Around Your Ideal Client:
Develop a process in which your ideal customer establishes a trusting relationship with you and your brand so that purchasing your product or services from you is a no brainer for your client.
In this marketing strategy, you “date” your ideal clients from the introduction phase to the commitment phase. Throughout the process, you establish know, like, and trust with your audience which ultimately converts them to customers.
Again, the only marketing strategy that will work for your business is the one that is designed for your business. Therefore, it’s imperative that you build your marketing strategy based on the specifics of your business for it to be truly successful.
Want more information about how to create a marketing strategy that converts? Contact me today!