On 23rd January 60 entrepreneurs and local business owners came together for the Wells Big Business Breakfast to talk about business in 2020.
Central to this networking event was the need to implement a joined up framework for getting in front of more people who want to buy our stuff.
It’s Never been easier to build and grow a business
Our smartphone is the most powerful marketing tool imaginable, depending on how we are using it. Our smartphone gives us access to get in front of almost everyone on the planet. We just have to choose who we want to get in front of and how. Our smartphones can ….
- – Distribute Brochures, Promotional Material (website – blog)
- – Launch your own Radio Station (podcast)
- – Promote your own TV station (YouTube and Facebook Live)
- – Create a Conference and Workshop Centre (webinars – Skype/Zoom)
The rest of my article provides brief notes to my presentation at the event.
Marketing should be seen as an investment
We invest our time and money into acquiring customers/clients and as with any investment it’s important to measure our return on investment.
- How are we investing our time – or are we just spending it? Do we focus mainly on ‘income producing activity’ – or does ‘being busy,’ become a daily habit we never question?
If you can’t measure the results of your marketing it’s just a punt. It will help to put investment into perspective by determining the value of a customers verses the cost of acquiring that customers.
Knowing the long term value of a customer teaches us three things.
- 1. The value of existing customers and implementing a system to nurture an ongoing relationship with them.
- 2. You are in a position to decide how much you can afford to invest in acquiring that customer.
- 3. You can measure the results of your marketing (ROI) and repeat what is working and replace what isn’t.
Challenge is Attention or Distraction
1. your attention – the need to focus on income producing activity (ditch or outsource stuff you really shouldn’t be doing or that someone else does better)
2. the Undivided Attention of your target market
3. Remember this. 82% of sales take place after the 7th touch. I suspect the same goes for anyone who attends networking events or belongs to a referral group.
People have lot’s of reasons for not buying.
- 1. They don’t see a need
- 2. They don’t know you, like or trust you.
- 3. They are still weighing up their options
- 4. They can’t afford (or don’t see the value)
- 5. Timing is not right
Most people in business don’t have a system in place to ‘stay in touch’ with their customers let alone their prospective customers. Moreover to build on their reputation.
- Rapport, relationship, paying attention to your customers, prospects.
- It’s what separates you from your competitor.
- We buy from people we know, like and trust.
Engagement is what we do between the first touch and the 7th touch (or longer). Engagement – Add Values – Builds Influence
It needs to be authentic, helpful, demonstrate competence and build trust. It needs to be uniquely you.
- – Blog – Articles – PR
- – Bringing value to Social Media
- – Video – Speaking (webinars/workshops) Book/Ebook
- – Meet Ups (online – offline Facebook/LinkedIn Groups)
- Get involved, act as a host,
- Be more interested than you are interesting
- Stay in touch with an email (or text) after a meeting.
- Offer to connect on social media or meet for a coffee.
Networking events provide the first touch to start a relationship. You have to build it. Business is built on relationships and the reputation you bring to those relationships.
Become more active on gathering and using testimonials. It is one thing that you tell people how good you are but far more powerful when other people tell people they know, how good you are.
Your primary focus must be to get in front of more people who want to buy your stuff and spend less time chasing people who don’t.
The clues to ‘why people buy and why they don’t’ are contained in the first part of this article. On an individual basis we need to learn to listen more by asking the right questions.
‘How do you see things panning out for you over the next year?’ Is one of the best questions I know for opening up someone to talk about their ambitions, challenge and fears they hold. Depending on your intention and tonality is must show a genuine interest in the other person, which is a good place to start.
Most people stop at the sale but far more can be done in what I call afters. It’s the three elements we need to pay attention to in building your rapport with customers and your reputation for great service. It includes delivering Wow, Cross or up selling and asking for referrals or testimonials.
Important as they are, I plan to cover these in another article when you and I have more time.
In the meantime my final advice is to surround yourself with people who will inspire, educate and encourage you. Then meet them on a regular basis. You can’t do that much on your own. If you try you will dilute your attention and take longer to get where you need to be.
If you feel that local conversations about marketing, especially your marketing could help you get in front of more people who want to buy your stuff then I plan to launch a brand new networking group, Somerset Marketing Hub.
Contact me at email@example.com or 07976 243107