Copyright © 2005 Attractioneering
Myth 1: Marketing is a cost,
not an investment
When you spend time and money randomly
on marketing, then it probably is an expense because
you're not generating a return on the resources
invested in it. Many people make the mistake of
emulating the marketing tactics of large companies
(such as image advertising) that just don't produce
good returns for small businesses. The fact of the
matter is that small businesses have to produce
BETTER marketing than large businesses because they
can't afford to make mistakes by dropping hundreds
or even thousands of pounds/dollars onto campaigns
that don't work. What often happens is that business
owners spend lots of money on ineffective campaigns,
then erroneously conclude that marketing is an expense,
or not worth doing at all.
However, the secret to marketing
success is to create a marketing system. A system
of activities, strategies, tactics and automation
that reliably and predictably create measurable
results and positive ROI. I call this the "marketing
slot machine". It's a slot machine that for
every Ј1/$1 you put in, you get Ј1.50, or Ј2 or
Ј5 or more back out. Once you've created this system
(which requires a small amount of experimentation
and testing), you should be able to turn it on and
off at will, and invest as much as you can to gain
maximum returns.
Myth 2: Marketing is expensive
Marketing is only expensive (and
therefore an expense rather than an investment)
when it is either unaccountable or ineffective.
There are myriad ways to market you business inexpensively
that are highly effective, once you know how. The
key is to understand the elements or variables that
go into each activity or campaign, and how they
affect the ultimate outcome. This is where most
people go wrong, and that's why their marketing
fails to produce the results that they'd hoped for.
Often the message is weak or confusing, it's being
sent to the wrong people, or they fail to follow
up. Get the formula right, and marketing can be
very inexpensive - I spend less than Ј100 per month
on marketing and I'm getting great results.
Myth 3: Marketing means
I have to be pushy and salesy
Good marketing, done the right way
is neither pushy nor salesy. It's a complete myth
that pushy, "gift of the gab" people make
the best sales people. Why? Because they spend most
of the time talking about themselves or their products
and then manipulating people into buying from them.
Whilst this used to work, and still does occasionally,
it often results in buyers remorse and a general
sense of uneasiness on the part of the buyer. Much
of the time it creates resistance and a feeling
of wanting to run for the hills - have you ever
felt like that?
Ironically, the best marketers and
salespeople are those who listen. They listen to
what potential clients are saying and see if there's
a match between what they offer and what the buyer
needs. They build relationships and educate their
prospects about how they can help them. The art
is to get in front of people who have demonstrated
a need or want for what you offer, and who will
gladly learn more about what you do and how you
can help them.
Myth 4: Marketing produces
instant results
Some people believe that if they
keep running their adverts/campaigns that they'll
"increase their profile", and somehow,
magically one day, a stampede of clients will come
rushing to their door. I don't subscribe to that
theory, because I believe that all marketing should
produce a measurable result that can be observed
in a fairly short time frame. If you're marketing
efforts are not producing obvious, tangible results
then you need to look at the elements that aren't
working.
Having said that, marketing is not
something you can usually achieve overnight success
in. It's somewhat like rolling a snowball down a
hill - there's a cumulative effect and momentum
increases over time. To create the cumulative effect
and momentum requires sustained and consistent effort.
Marketing isn't something you do occasionally, and
then put on the back burner. It's something that
you need to do constantly, bit by bit, in the same
way that a sportsperson needs to train every day
to be good enough for the Olympics.
Myth 5: Once my diary is
full, I can stop marketing
It's human nature that once you've
got some well-paying work you feel rather pleased
with yourself, and focus most of your time on servicing
your new clients. However, if you have a sales cycle
that's usually more than a couple of weeks long,
then you're going to come a cropper once the project
finishes. Because if you don't continue to do your
marketing whilst you're working on the project,
then at the end of the project you may find that
your sales pipeline is empty and you have to start
up your marketing all over again. It may then be
a number of weeks before people start to progress
down your sales pipeline towards actually doing
business with you. This is what is commonly referred
to as the "feast and famine" syndrome.
If you prefer to avoid these peaks
and troughs of income producing activity, then you
need to think about how you can do a little bit
of marketing on a consistent basis. Even better
- create a marketing system that easily and reliably
entices prospects into your sales pipeline without
huge amounts of effort from you.
Myth 6: My business is small,
so I don't need a marketing plan
I tried some marketing plan software
once. It asked me a lot of questions about market
share, mission statements plus product, price, promotion
and place. Great fun, if your mind likes to chew
on such imponderables. As a graduate of a business
studies degree I knew exactly what it was referring
to, but had no idea how that was useful to a small
business. And guess what - that's because it isn't!
No wonder then, that most small
businesses don't have written marketing plans, when
traditional style marketing plans seem convoluted
and esoteric. However, this doesn't mean that a
marketing plan in your head is any better. The question
is whether this results in any organised activity.
And to me, that's the essence of
a marketing plan - a blueprint for organising your
marketing activities. It doesn't have to be high-falutin'
or fancy, or be filled with marketing-jargon, but
what it does need to do is focus resources on specific
action steps that need to be taken to achieve specific
goals. There's a world of difference between carrying
ideas around in your head, and writing them down
into an organised plan of action.
If you don't have a written marketing
plan, then I urge you to consider this: research
suggests that businesses that create a written marketing
plan increase their revenue by about 30% after having
created one.
Myth 7: External marketing
help is expensive
If you enlist the help of what I
refer to as "traditional" marketing consultants,
then it probably is expensive. You're probably looking
at thousands down in one shot, rather than hundreds
and probably no guarantees of success. It's quite
possibly a stark choice between taking the family
on holiday, or paying for your PR or marketing consultant.
If giving up your family holiday
doesn't appeal, then you may choose to go down the
route of taking training courses, reading books,
attending seminars, enrolling on e-courses and all
manner of other self-study options. The problem
with all of this, is that there is rarely any hands-on,
customised support for you and your business. And,
there's no accountability - or as I like to say
- a friendly kick in the pants to keep you on track.
It may also take you quite literally years of trial
and error to find out what works for your business.
And that's assuming that you even implement what
you've learnt, which, sadly, most people don't.
However, a new alternative has emerged
in recent years - marketing mentoring or coaching.
Rather than paying thousands to have a marketing
consultant do it all for you, or struggling up the
learning curve by yourself, you now have the option
to work with a coach or mentor who can advise you,
guide you and show you how to do your marketing
for yourself. Plus they'll make sure you stay on
track. If attracting more clients is important to
you, and you haven't yet created your own "marketing
slot machine" then I highly recommend you find
a marketing coach who will help you create a marketing
system that works for you.
About the Author:
Jane Hendry helps professionals, consultants
and coaches to create marketing systems that easily
and consistently attract their ideal clients. To get
your f*ree Attraction Marketing Starter Kit please
visit ttp://www.attractioneers.com
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