Post on 30-Oct-2014
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Mastermind 2012 Session 2
Thursday, 16th August2012
8h00
City Lodge, Lynnwood Bridge
A Special Request - Switch it Off….
Session 2 – Profit Formula & Marketing
Profit Formula:
• 5 Specific Levers to Multiply Business
Marketing Strategy & Planning
• Industry and External Trends
• Competition and Differentiation
• Target Market and Profiling
• Marketing to get more Clients / Customers – Practical Plan
How will the day go?
• Let’s Get Started 8h00
• Today’s Context
• Personal Feedback – 3 Top Achievements
• Homework Feedback & Insights
• Profit Formula 8h30
• 5 Levers to Multiply Revenue / Profits
• Break 9h30
• Your Industry, Market & Competition 9h45
• Marketing Plan 10h00
• Confirm your Objective
• Ideal Client / Customer – Profile, Problems, Results
• Where and How to Reach Them
• Choose your Tactics (Wheel)
• Samples & Tools
• Action Steps / Closing / Q&A 11h00
Share your Feedback and Insights
• 3 Top Achievements in last 4 weeks
• Homework
• Entrepreneurial Journey
• Personal Work Schedule
• Goals & Strategies
• Goal Cards
• Road Map
• Weekly Plan & Do
• Quick Win – Warm Referral Letters
é Qualified Leads
é Conversion Rate
é Transaction Value
é Frequency
ê Direct Costs / Overheads
é Revenue / Profits
The Profit Formula
The Profit Formula - Example
é Qualified Leads
é Conversion Rate
é Transaction Value
é Frequency
ê Direct Costs / Overheads
é Revenue / Profits
The Profit Formula – Example 10 %
é Qualified Leads
é Conversion Rate
é Transaction Value
é Frequency
ê Direct Costs / Overheads
é Revenue / Profits
The Profit Formula – Example 10 % and up-sell
é Qualified Leads
é Conversion Rate
é Transaction Value
é Frequency
ê Direct Costs / Overheads
é Revenue / Profits
How do you impact these levers?
• More consistent and congruent direct marketing.
• Market to a Niche.
• Use messages that attracts / speaks to wants & needs.
• Educate the market.
• Master sales process and conversation.
• Provide Options.
• Have a follow-up process and/or system.
• Anticipate objections and deal with it pro-actively.
• Increase prices / rates.
• Products / Services that have recurring sales.
• Up-sell / On-sell.
• Track leads, sales & effectiveness of marketing. Know your ROI.
• Refocus marketing budget & resources.
• Negotiate direct / indirect costs.
Marketing - Acknowledgements
Common Marketing Mistakes
• Expectations that your product or service will “sell itself ” OR hoping someone else will do it for you.
• Hiding behind a computer, rather than creating real realtionships (where you are known, liked and trusted).
• Not connecting with a Specific Target Market or Niche.
• “Telling and selling”, rather than focussing on customer needs, motivators or benefits.
• Unclear and inconsistent marketing messages.
• Not Marketing Enough (or even worse, cutting marketing activity in tough times).
• Expensive Markting Tactics without understanding return on marketing investment.
• No Marketing Plan!
Marketing Objectives
• Increase Visibility, Credibility & Trust
• Promote Business and its Offerings
• Increase # of Qualified Leads
• Increase Conversion Rate
• Increase Referral Rate
• Increase Repeat Business
• Increase Transaction Volume & Frequency
• é BOTTOM LINE
Industry, Market & Competition
• What is happening in your external
environment?
• Legislation
• Economy
• Technology
• Social Changes
• Competitive Space
• What is an opportunity or threat to
you reaching your market?
Client Profile, Problems & Results
• Not all clients are equal.
• Love them, live with them or release them!
• ACTIVITY • List Ideal Clients
• Create Profile
• List their biggest challenges iro your offerings
• List the Results you help them achieve
• Where do find them
Where & How to Reach Them
• Where can you SPECIFICALLY connect or find them?
• Where do they congregate or hang out?
• What are their habits, communication preferences – are you sure?
• ACTIVITY
• Review the list with Marketing Tactics
• What is working and What Not?
• Create your own Marketing Wheel.
• Create a Schedule / Calendar.
Marketing Effectiveness
Simple Marketing Plan
Web / Blog / Online Adverts
Social Media
Stay in Contact /
Relationship
Net-working / Referrals
Speaking / Writing / Publicity
Special Events /
Teleseminars
Directories & Assocs
Strategy Tac+c / Channel
Online
Website Blog Des+ny Connect Adwords, SEO
Social Media FB Linked-‐in TwiCer
Stay in Touch
Intro LeCers Update LeCers NewsleCers Monday Mo+va+on Cards
Networking SACBW CCBC Entrepreneurial Woman
Speaking Various Assoc
Directories & Associa+ons
ICF COMENSA Coaching Dir
Special Events Year-‐End Celebra+on Teleseminars / Recordings
Free Offers
7 Steps to Abundace 50 Ways to Boost Biz Own E-‐NewsleCer Ar+cle Bundle EBook
Free Offer (Online)
Samples, Templates & Tools
• Business Plan Checklist
• Full Business Plan Template (DOC)
• 1-year Financial Planning Sheet (XLS)
• 6-month Implementation Planner
• Ideal Client Profile Sheet
• Competitive Analysis & Ranking Sheet
• Your Personal Pitch
• Marketing Tactics, Wheel & Schedule
• Branding Checklist
• Marketing Real Estate Checklist
• 7-Step Formula for Compelling Messages
• Sample Hot / Cold Leads List
• Sample Warm Introductory Letter & Referral Request
• Sample Outline for a Sales Conversation
• 40 Questions to Stimulate Business Improvement
Closing & Action Steps
• Questions?
• Homework:
• Marketing Plan Refine
• Marketing Calendar
• Quick Wins
• Weekly Plan & Do
• What are your insights?
• Feedback Form.
• Commit to take action.
Mastermind 2012 Session 2
Thursday, 16th August 2012
8h00
City Lodge, Lynnwood Bridge