Leverage Your Marketing – Marketing Tip 4
Learn how you can create leveraged marketing to maximise your results and profits.
Welcome to Week 4 of this free Marketing Tips Course.
3 Reasons why you should read this Tip:
1. Knowing how to create leverage in your marketing is critical to getting amazing results
2. Unlocking leverage through your marketing will bring huge Return on Investment (ROI)
3. This concept is almost certainly something your competitors are missing out on
Welcome to Week 4 of my Marketing Tips Email Course, let’s get started…
I used to think I had a good grasp of marketing and what made it work effectively. I learned all about the classic principles, the textbook tactics and ideas that we all use when we focus on how-to marketing.
What I’d never been taught was the concept of LEVERAGE.
This was something my own mentor introduced me to over fifteen years ago. And since this time I’ve come to realise just how important and powerful this principle is. So now it’s really important that I share it with you too.
The Quick Version –
“Leverage is your ability to create a bigger outcome for the same amount of effort”.
Just in exactly the same way that we learn how levers are used in physics to create a mechanical advantage now I want you to see how the same concept will drive your marketing advantage.
For the most part we all want to believe (and many will tell us) that you simply “put X in, and get Y out”. However, when you build in leverage you start to get a much more exciting result that looks like this:
“Put X in (correctly), add LEVERAGE and you’ll get Y, Z and a whole lot more back out again!”
It’s not about being greedy, it’s about thinking a few extra steps ahead and getting a lot more bang for your buck.
Let me explain how this works.
In most cases, when it comes to a marketing activity or output we tend to focus on one action for each task. An example could be your need to create a new advert. Perhaps you’ve bought some ad space on a page, set up a new section on your website, or had some other opportunity to promote your products and services.
So you sit down, compose your advert, create of the offer you want to promote, write your copy, choose some images and think about the ‘call-to-action’.
The next question you should be asking yourself now is this –
“How can I leverage this effort – how can I use this in other ways to boost this output and multiply my result?”
So let’s imagine that you’re writing up that advert, sales letter or webpage and you want to plan how you’re going to use it. This is the time that you need to think about ways you can maximise your time and get a bigger result.
One simple way to do this is to consider how you’re going to integrate your advert with other forms of marketing that you’re already doing, or could start doing. For example, you may decide to run that advert and perhaps you’ve created some content or a page on your website to promote this.
Now you need to look at all the other ways you can support this. You might have a good following on twitter, facebook or your LinkedIn profile. Or perhaps you’ve got a good list of past and current customers who would like to hear about what you’re offering today.
So instead of simply running that advert you can now add other marketing channels and opportunities and really pump up the campaign. If you’re advertising, or maybe had a recent news story published, then you should automatically use other options to get all the value you can from it.
I’m constantly amazed at how many people completely miss great opportunities to turn up the volume on their marketing. They leave great resources unused and wasted, a sure-fire way of leaving bigger profits on the table.
My point is this; if you’re going to spend any time or money on your marketing (and both are incredibly value to you) then you want to wring the neck out of it and squeeze out every little last drop of value that you can!
IMPORTANT – A word of warning!
One thing that’s vital to remember is make sure that you have a way of tracking how these other activities are supporting your main marketing action. If you post an advert and then decide to also promote it through twitter and your email list (for example) then make sure you can track this.
Setting tracking in your marketing is an absolute must and something you’re going to be learning about on this course. You need to know what marketing activity produces what result.
You have all sorts of options when you want to track marketing. If you’re using online tools, your website, etc. then you have amazing resources at your fingertips, like Google Analytics.
If your marketing is totally analogue, like posters, flyers, letters, etc. then set out a way of adding tracking codes (or little clues) to find out the source of each lead/sale/customer. You can even get separate telephone numbers to help you do this, which can be used across all sorts of marketing.
The other big reason you should be using leverage…
When you start to think about your marketing in a composite way you have a great opportunity to test it properly and one thing I’m going to be sharing with you through these marketing tips is the importance of testing.
So let’s say you’ve built that offer for a print advert. You’ve negotiated a really good deal (and you always do that!) and your advert is going to print next week.
At the same time you can now take that advert and try using it in other ways. The most obvious one would be to add this offer somewhere on your website and promote it online, ideally through some form of paid-for or proactive marketing.
Now you have two levels of activity going on at the same time and that give you the ability to ‘split-test it’. With a simple ‘A’ versus ‘B’ approach you will quickly be able to see which one gives you the better result.
If you’ve spent £250 on your advert you can plan to spend the same budget on, let’s say, facebook advertising. Set a defined period of time within which to run the test and press the big green button.
Now when you get to the end of the period you have some comparative data. And it’s this that will tell you how you should be focusing your marketing efforts.
This ‘other big reason’ is not an aside; it’s actually a really important part of leveraging your marketing efforts.
In Summary –
This idea is something that has helped me, and many of my clients and students, to create outstanding results. It’s been a way of extracting all the value I can from each campaign or marketing output.
Learning this idea was simple and easy to apply right away. Now here are your THREE STEPS to follow up and start putting ideas into practice.
1. Every time you decide to begin a new marketing exercise, activity or campaign, stop and ask yourself this, “How can I do this in such a way that I can use the same materials, content and systems to get more value through leverage”.
2. Next you should look at the marketing your running at the moment and again, ask yourself if you are leveraging it fully? Are there other ways you can use the same offers, deals and promotions with other forms and types of marketing?
3. If the marketing channels (routes to market) that you’re using now are limited then consider how can you leverage these more. For example; you may collect a number of new customer orders each month but are you using this information to find other ways to connect with them?
Leverage is the tool that all smart businesses use to create big results. So there’s every reason why you should be modelling this approach, if it works for them…
And there’s one other final point to mention on this, for now at least; I really like the idea of getting more back for my time.
Time is so very precious, so rather than making it hard work, the trick to good marketing is to cheat. Learn how to leverage your efforts, magnify your marketing and you’ll soon start seeing much bigger rewards.
As with each of these Tips, if you’ve got any questions, want to understand how this information applies to you, please reach out to me. I’m always happy to connect across Social Media, or just drop me a personal email.
Stay tuned… I’ll see you for your next weekly Marketing Tip!
PS. Please share your comments and questions below; maybe you’ve got a good example how you’ve used leverage.