It’s not all about the Sale – Marketing Tip 3
Marketing Tips – It’s not all about the Sale
Reasons to read this Marketing Tip –
1. It’s important you avoid this trap from the start
2. When you learn this principle you can multiply your profits
3. This strategy will help you get started and benefit you ongoing
Hi, so here we are, at Week 3 of your Marketing Tips.
So far we’ve looked at two really key principles;
1. Keeping your eyes on the prize – PROFITS and
2. Putting VALUE at the core of your marketing
Today we’re going to be talking about the third Key Principle – that your marketing isn’t all about the sale.
This may seem strange and perhaps even counter to the first email tip you’ve read… but hear me out and I’ll explain it all clearly.
Yes, your business and your marketing with your business needs to be focused on profits and you calculate this by understanding what Return on Investment you get from your marketing spend.
If you spend £100 you know that you need at least that back in sales before you can start making any profits.
What I’m sharing with you today though is about long-term profits. And to design and build a business that creates that you need to grasp one very important thing:
“The first sale is only the start..!”
This was exactly how this principle was explained to me by my own mentor. Now I’m going to share this with you and encourage you to use the idea.
Here’s the simple version first:
When you’re marketing the service or product you offer you’re not actually selling that product/service. Yes, this is of course the outcome you want.
But what you’re really trying to do is build a relationship with the (new/would-be) customer.
So it’s not the actual sale that you should be focusing on. If you do your job right the marketing should take care of that. As soon as you start to learn what makes marketing work you can build your system and press the go button.
This is known as the tactical element of your marketing.
What I’m really talking about here is actually your marketing strategy.
Your strategy is the direction you want to take and it’s this that I really want you to get thinking about. I’m not talking about some heavy super-complex master-plan; I’m just talking about an idea.
And this is that – VERY IMPORTANT – idea:
When you use your marketing to create a response you want make sure that your ambition is to build a relationship with that new customer.
If they’re a returning customer then you’re aim is to improve and grow that relationship
Let me say it again (because it really is so very important) –
It’s all about BUILDING A RELATIONSHIP WITH THE CUSTOMER.
When you build a relationship with your customer you get several important benefits.
- Customers begin to feel they know you and so trust you
- Customers seek you out because they believe you have their interests at heart
- Customers will ALWAYS choose you over a competitor that they don’t know
- Customers will come back to you first when they want to make a further purchase
- Customer will often pay a higher price because they see value in your products/services
So when you have the best type of relationship with your customers you can significantly magnify the results in your business, week after week, month after month, often for many years.
Trust me; I know for a certain fact that this concept is the reason why some of the most successful businesses on the planet have grown exponentially.
And this leads me to the key point of this week’s Marketing Tip –
As we work through the concepts and methods that make marketing work, you need to set out a plan that contains your tactical approach, which is based on your marketing strategy.
The two elements are directly linked. If you focus on how-to marketing and only spend time and money on tactical activities you’ll always struggle. You’ll end up on a hamster-wheel that you can never get off.
If you only ever focused on your marketing strategy you’d never actually get anything done. So both elements are needed for you to be really successful and reach your true potential.
Now let’s look in more depth at this question of ‘the Sale’.
Marketing is in essence about helping the customer make a quick and confident buying decision. It’s not really about ‘selling’ them anything. None of us likes to be ‘sold to’ and hate that idea but we all love to ‘buy’.
Your job is to present an amazing offer, with lots of value, that solves a problem, or delivers a great benefit(s). That’s the front end of your marketing; you could call it your shop window.
Then behind this, let’s call it the back-office, is the machine that will make the sales process smooth and enjoyable for your customer.
As you start to achieve this you’ll have a business model that people want to engage with. They’ll find you easy to do business with and understand, exactly, what they are getting from you every time they buy from you.
By aiming for this you’re able to build your business on the back of repeat business. This really is vital. Getting customers to come back for more is what really gears up a business for success.
Even getting 10% of your customers to come back and buy from you again is a major plus. As we’ll be looking at in the weeks ahead, the Key Turnover Drivers are your formula for rapid growth.
Here’s your Three Step Plan for the week ahead –
1. Review where you are now
Take stock of how you think, act and behave in your business in terms of the customer relationships you should be looking to build.
Do you make this a conscious part of everything you do? Are you expecting a customer to only buy once from you and then never see them again?
Even if your business is a one-trick-pony (you have an offer that a customer would only ever buy once) you can still create ways to make further sales. This could be through add-on services, or even the products or services of others. We’ll be talking about this in the weeks ahead.
2. Decide what sort of relationship you want to have with your customers
This might sound strange but seriously, consider what you feel would be the best type of relationship to have with your customers. How do you want them to think about you? How do you want them to talk about you and your business to their friends, family and work colleagues?
If you’re not sure where to start with this then take a commercial perspective. What could a customer be worth to you over, let’s say twelve months?
How often would you like your customers to visit your business or contact you when they need it?
You may also what to decide who your customers should be; this is very important. Profiling your customers will really help you to target them. And, as you’ll learn in coming weeks, accurate targeting is like adding rocket fuel to your marketing!
3. Decide what needs to be done first to start building those relationships
When you do this quick self-test, and I sincerely hope you will do this, you may find some interesting results.
If you’re already in business, perhaps even trading for several years, you may realise that this is something important you’ve been missing out on. It’s so easy to become complacent.
If you can create a list of ways you can improve the situation, or build the sort you want, then next you should just focus on the top three. Here are some examples that might apply to you:
- Checking that a customer has everything they need before completing the transaction
- Checking that the customer has the right things they need before completing a transaction
- Checking that the customer is satisfied with the product or service you’ve invited them to buy
- Checking a customer’s details, and doing this often enough to keep an accurate record
- Checking that a customer understands the way you do business and that this meets their needs
- Checking that the customer knows what makes your business/product/offer different and why
- Checking that you and your staff are consistent in the way you treat every customer
And the list could go on…
These three steps will help you to get a better sense of what you’re actually aiming to do and how you’re doing it, or not at present.
Changing things like this in your business are so very important and yet they are only really a matter of choice. Of course you’re going to need to put some time and focus into this but it’s more a case of developing your business mentality and personality.
So, for more ways to develop you and your business, keep your eyes out for the next weekly Marketing Tip. And as before, if you want help to better understand the concept above, want to talk about your challenges and get more help, then please reach out to us.
We’re here to help you make marketing work!
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PS. This concept is explained in more detail in Module 1 of the online course available here at Make Marketing Work.