I have spoken to hundreds of business owners the past 15 years who have felt burned by marketing agencies and professionals. I can understand why you would feel that way but in this article, I want to explain why no marketing agency can guarantee new clients, customers, and patients.
The Goal Of Marketing
Effective marketing accomplishes 3 basic goals:
- Awareness: Good marketing will increase awareness of your product, service and brand. If people don’t’ know about you it does not matter how good your product or service is, you will have a very difficult time surviving.
- Visibility: This goes hand-in-hand with awareness. Every company and business needs visibility in the marketplace. All of your competitors are there, so you better be too. If not, again you will most likely not survive.
- Interest: This is the big one for most of us marketing agencies and professionals. Our job for our clients is visibility, awareness but more importantly interest. That is someone who raises their hand and contacts our clients. Whether that is schedule an appointment or a call.
There is the definition of marketing from my over 20 years of doing it for businesses.
No Guarantee With Marketing
Now here is where it may controversial for you the business owner, but after I explain you may have a better, more realistic expectation from your marketing.
You Are Dealing With Human Emotion
In any business transaction, even with fortune 100 companies, you are working with human beings. And human beings by nature make many decisions on emotion (and gut). Because of this, they can be inconsistent with their commitments causing them to not go through a purchase or make an appointment.
When a human being does not go through with a buying commitment it is not the fault of the marketing company. No way! That is out of our hands. And truthfully, if you want a successful business you should have someone in a sales position in your company who follows up diligently. Without follow up you will not grow your revenues, as most people need to be contacted 7-12 times before they take an action.
Timing Is Everything
Think about everything in your life. Meeting your partner, spouse or even a good friend. Timing played a part in it, didn’t it? If you wouldn’t have been at that place, at that time, and seen them you may never have met them. The same goes with an interested customer/client/patient (lead in marketing terminology). They showed interest from our marketing, even scheduled an appointment or made a verbal commitment to you, and did not go through with it.
When a prospect (lead) fails to keep their commitment it could have been for so many reasons. Something came up like a family sickness or emergency. Lost their job. Got in a fight with a family member. Car accident. The list goes on-and-on. When this happens do you tell your marketing company they were bad leads? I’ve gotten this one and to be quite honest it’s irritating. That situation, with that person (lead) had nothing to do with us and the quality of the lead.
The Difference Between Sales And Marketing
There is a huge difference between sales and marketing and every business must have both in place to grow their revenues.
Marketing gets the lead, sales closes them. Pure and simple!
In a lot of companies depending on the size, there is a disconnect (almost competition) between sales and marketing and what their roles are. If you have a business of $3M – $10M and above you’ve most likely have experienced this. Both teams are pointing the finger and no one is taking responsibility for their role. For a business owner, has to be extremely frustrating.
The sales department or person is responsible for the closing of the deal or transaction. Many times in small businesses that is the business owner themselves. Ultimately, people are buying you. They are trusting you and your product or service.
Follow-Up Is Critical
When you want to grow your revenues the key to the kingdom is a steady flow of leads, consistent follow-up, and closed business deals (purchases, etc.). Statistics show it is a minimum of 7 touches before a prospect takes action. So good marketing is consistent messaging being show to a prospect over-and-over, and when the prospect raises their hand, it’s onto the sales process.
So again…sales and marketing are not the same. They are very different in their roles and responsibilities.
Setting Realistic Marketing Expectations
This is where some marketing agencies and professionals have dropped the ball in my opinion. They want the new client so bad they will over-promise and under-deliver, without setting realistic expectations and educating the business owner, CEO, founder what the real numbers are.
Know Your Numbers
It is critical you know your numbers, whether the marketing agency (or your sales team) shares them with you or not.
Here are some numbers to know:
- Cost To Acquire A Customer/Client
- Conversion Percentage (how many leads to get a booked appointment, or commitment to do business)
- Closing Percentage (leads divided by closed business)
When you know these numbers, you can now set up a budget for your marketing that will be realistic, and you will have a better understanding of what to expect from that marketing investment.
I hope after reading this article you don’t have such a negative viewpoint on marketing, as it is a must for any business to not only grow but survive. Without marketing, your business may fail. What would that look like for you and your family?
If you truly want to grow your revenues, I am offering a complimentary, 15-minute business overview, (live evaluation) for business owners who want to see what the possibilities are. Contact me here to set up the call.