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