Small Business Talk
The Podcast to Grow your Business Faster
Why Your Marketing isn’t Working?
Show Notes
We have talked at length about cash flow being the backbone of small businesses. How do you get good cash flow?
Answer: Regular stream of ideal customers.
The Right Customers for Your Business
We can break your customers down into 2 or 3 groups.
- Existing Customers
- New Customers
- Potential/Future Customers
You need to spend a lot of time and effort looking after your current customers. Let’s face it, these people pay your wages, put food on your table but are often overlooked or an afterthought.
The gym and fitness industry is particularly bad at this. All the love, specials and attention goes to the new people. The potential or future customers, not the loyal ones that pay month after month.
Turnover rate and no shows are high because the shiny object becomes tarnished very quickly.
New customers are great and an absolute necessity to all businesses because no matter how fabulous you are, they will be a percentage of natural attraction. Customers will close their business, no longer need your services, sell or change ownership/management and many other things that you have no control over.
You must actively seek and gain new customers to grow your business. Then there are potential or future customers, these are people that may/can or will be from your later.
There are only a very small percentage of customers who are ready to buy at any one time.
Buyer Journey
Customers often need to complete the full circle of the buyers’ journey.
- Awareness
- Interest
- Research
- Desire/Need
- Sale
Sometimes, some step more than once before they buy and their path is often a zigzag rather than a straight line.
In 2021, you generally need 14-20 touch points before someone will buy from you and that is of course if they actually have the need.
Now you can see why it is not only important to seek new customers but look after the ones you currently have.
Why your Marketing Doesn’t Work?
“What has all that got to do with why marketing is not working – haven’t you gone off on a tangent? You might ask.
No!
Your marketing is not working for 3 reasons
- Wrong People
- Wrong Frequency
- Wrong Time
As I said before, you will need people to see your message multiple times before they make a decision or even think about buying.
Most businesses do what I call Hit and Miss Marketing
I have written an article about this on my CATCO Enterprise Blog. Basically, Hit and Miss Marketing is when you throw marbles out at your audience and hope that some will hit. Remember that this audience may or may not know who you are and may not even have the need for your product.
You can see the most amazing product eg The Cutest Baby Clothes but if you don’t have someone to buy them for, you will look, admire and then move on.
How to Make your Marketing Work?
Are you marketing to your current customers? Now, I am talking about being spammy.
Buy my Stuff
Buy more of my stuff
You really need to buy my stuff
Kind of marketing
I am talking about nurturing your customers, making them feel wanted/loved, educating them and treating them well.
We all like to be loved and feel special that is why; we pay extra to become VIP’s.
How are you educating your current customers, checking in to see that the product or service is fulfilling their needs?
Yes, sometimes you might get push back or negative comments but that is product research and a way to make your services better.
Next, you can look at your next set of people to market too.
New Customers
The process is the same.
Educate
Nurture
Solve their Problem
All customers need a solution that either moves them to pleasure or moves them away from pain. You need to be the guide, the expert to show them the way and sometimes, even point out what the problem is as often they don’t know.
Potential/Future Customers
You may have already guessed it, the process is the same for potential customers, the only difference is they do not have or know they have the pain point that you have the solution for.
So why worry about potential customers at all, they sound like lots of work?
Yes, they can be.
They can also jump from potential customer to buying customer in warp speed.
Have you ever been mindlessly scrolling through social media, seen a video or add and suddenly, found yourself buying “the product” that 5/10/30 minutes earlier you didn’t even think you needed.
Do I need to say more?
How to Make Your Marketing Work for you?
- Structure
- Plan
- Consistency
- Talk to your audience (Not everyone)
- Spell out the pain point
- Offer the solution
- Be seen as the expert
Want to know more?
Go to catcoent.com.au/resources for plenty of free stuff to help you with lot of marketing ideas.
