How to Know if You’re In a Marketing Haze

Tuesday, February 9th, 2010

MPj025535500001 150x150 How to Know if Youre In a Marketing HazeSometimes you can get so wrapped up in the details of your business that you find yourself doing marketing that isn’t very effective.  I call this a marketing haze.

Let me begin with the good news. If you discover you’re in a marketing haze, remember that at least you’re taking action with your marketing.  Now all you need to do is redirect your energy to the marketing activities that are going to really pay off for your business.  Let’s look at how to do that.

But first, how do you get into the haze in the first place?  Here are three of the main reasons you might find yourself lost in the fog.

1. DISTRACTION

It’s no wonder that you get distracted by the latest fad or new trend in marketing.  You constantly hear about something new that works for someone else and think you better try that or else you’ll miss out big time.

2. AVOIDANCE

There are usually some marketing tasks that aren’t your favorite things to do so you avoid them by keeping yourself busy doing something else (anything else).

3. LACK OF CLARITY

If you’ve been in business for awhile you may not have reconnected to the goals you have for your company lately.  When this happens, it’s easy for your marketing to become fragmented and disconnected from the actual outcome you want to reach.

Perhaps you recognize one or all of these three situations.  Don’t despair, with a little effort you can get yourself back on track.

First off, step back and ask yourself what specific result each of the marketing actions you’re taking will bring.  Write them down and then ask yourself these questions:

  • Is it a targeted and direct result?
  • Is the result short-term or long-term?
  • Is it the best use of your time and resources at this moment in your business?

Here are a few examples.  You might get distracted by spending time and money updating your website with the latest gizmo when you know you really need to contact potential clients.

Or you may intentionally avoid connecting with new prospective clients for instance by diving into a project to exchange your website link with other companies.

Now I’m not saying exchanging links isn’t a good thing, it just may not be the top priority.  And taking action with the people you know you want to meet is a more direct path with quicker results.

If you find yourself in a marketing haze because of a lack of clarity, it could be that your action is quite effective but you’re directing it to the wrong group.

In all of these circumstances it’s important to constantly think about how the marketing actions you’re taking will impact your business.  Only choose the activities that will bring the results you’re really after.

Your marketing strategy is based on your business model.  Review the goals of your business model and decide which ones will lead you directly to your desired outcome.

Once you’ve identified your most effective marketing activities; write them down, prioritize them, and stick to them.

Remember, the shortest distance between two points is a straight line.  Don’t take the long, twisted road to get where you are going.

Someone recently reminded me the importance of keeping things simple in business.  Oh so true.  Marketing doesn’t have to be complicated to be effective.

So eliminate the marketing distractions, stop avoiding things that you know you can do, and get really clear about the cohesion of your actions.  Then you can get into focused and profitable actions and you’ll avoid slipping into a marketing haze.

© Stephanie Ward, 2010

WANT TO USE THIS ARTICLE IN YOUR NEWSLETTER OR WEB SITE? You can, as long as you include this information with it: Stephanie Ward is the Marketing Coach for Entrepreneurs who want to set their profits on fire!  Grab your FREE copy of the special report ’7 Steps to Attract More Clients in Less Time’ plus business building tips, at: http://www.fireflycoaching.com.

Is Your Business Model Healthy?

Thursday, December 3rd, 2009

business model checkupAs a business owner I know you are working very hard in your business, serving clients and staying on top over everything else that needs to be managed.

But what if all the hard work you are currently doing is not necessarily the most effective way to grow your business?

A solid business is built around a business model that works.  If you think you have a great business model in place then it will only take a few minutes to confirm that this is the case. 

If you aren’t quite sure if your business model is functioning optimally, now is the perfect time to give it a quick check-up and find out.

When I talk about your business model I simply mean the way your business makes money.  Think about these basic components:

* Your business offer products and services

* You sell them for a certain price

* A certain number of people buy them (once or even better, repeatedly)

* You deliver them in a certain way (in person, electronically, third party, etc.)

Why not revisit your business model to see if there are a few ways you can change it.  This doesn’t have to be complicated, simply take a piece of paper and a pen or open a new file on your computer.

Write down all the products and services your business currently offers, the price for each, how many clients you have who purchase each offer and how frequently.  Total this up, subtract your costs, and see if this structure is going to bring you the financial results you want. 

Now imagine how many different ways you can upgrade your business model to attract more business and leverage what you already have.

Get creative and try out several combinations of products and services.  Here are some ideas:

- Perhaps you can add something new, additional revenue streams.

- You can also think about increasing the amount of what you already deliver.

- Or maybe at this point it’s even best to remove a part that isn’t profitable.

- Consider changing the way you deliver your products and services.

- What if you didn’t change a thing except to increase the prices (speaking or pricing, when is that last time you increased the prices for your products and services)?

Let’s use the business model of a consultant as an example.

CURRENT BUSIENSS MODEL

Product/Service: Consulting services delivered by the consultant alone

Price: Per hour

Clients: One at a time full time or two to three part-time

Delivery: In person

UPDATED BUSINESS MODEL

Product/Service: Consulting in person delivered by the consultant, additional consultants working for you, speaking, selling intellectual property (an ebook, audio, or other information product)

Price: Consulting per project (and part of the fee for consultants working on behalf of the consultant), speaking per event, intellectual property per item

Clients: Many at one time

Delivery: In person, automated (via the internet)

Are you starting to see the possibilities for your business?  Renewing your business model can re-inspire your enthusiasm for what you do as well as increase your desire for marketing your business.

A healthy business model is the foundation for a successful business.  Take time to examine your business model and make sure it is the strongest it can be.

With a few simple changes, you will probably make more money and you may even find that you don’t have to work as hard to do so.  Now who doesn’t want that!

© Stephanie Ward, 2007

WANT TO USE THIS ARTICLE IN YOUR NEWSLETTER OR WEB SITE? You can, as long as you include this information with it: Stephanie Ward is the Marketing Coach for Entrepreneurs who want to set their profits on fire!  Grab your FREE copy of the special report ’7 Steps to Attract More Clients in Less Time’ plus business building tips, at: http://www.fireflycoaching.com.

Do You Know Where Your Business is Headed?

Monday, November 30th, 2009

women lookingNo matter what time of year it is, if you don’t have a clear and concise written plan for where your business is heading you’re in for a surprise. 

Twelve months from now it will end up somewhere, you just won’t know where.  In most cases where you find yourself will not be where you hoped you would be.  The key word to notice in the previous sentence is ‘hope’ – successful businesses aren’t run on hope.

Why not try on a new perspective and see planning as a way to reduce future frustration and disappointment instead of seeing it as a boring task you are supposed to do.

Stay connected to the positive feelings you want to have about your business.  Focus on having a business that is thriving, profitable, fun, and provides value to your clients. 

You may have heard this metaphor before but stick with me because it is so powerful in illustrating why written goals, plans, and strategies are critical to the success of your business.

Imagine a trip you have always wanted to take.  Think about all the detailed preparation and planning involved in making it happen.

How will you get there (train, bus, boat, fly, walk)?  How long will it take you to get there (two hours, three days, one week)?  How much money do you need to get there (hundreds, thousands)?  How much money will you need when you get there?  What tools and equipment do you need to take with you (clothes, maps, books)?  What kind of preparations do you need to make (reservations, visa/passport, shots)?

So how does this apply to your business?  Think about taking your business on an adventure trip.  Where do you want to take it and how will you get it there?  It doesn’t have to be complicated and can even fit on one piece of paper.  Yes, you must write it down.  Here are five simple questions to get you started:

1. How much money will your business make over the next twelve months?

2. What will you sell and for what price?

3. How many clients will you need to reach this goal?

4. How will you reach these clients?

5. How much will it cost to make this happen?

You can add more details as you go, begin with this as a framework and then see what other specific information you need to add.  Once you have written this down, don’t put it in a drawer or file it away.

Keep it in front of you at all times and track your progress.  Review it weekly or bi-weekly, at least monthly. If you see that things have strayed off course, make the necessary adjustments to get back on track. 

If you need any more proof that planning is important take a look at the trip you took your business on the prior twelve months.  Did you set out for a beach holiday in Mykonos, Greece and end up in Helsinki, Finland during the Winter?

When planning the next journey for your business it is helpful to see where your planning led you in the past in order to become clear about how to get where you want your business to go in the future.

Feeling anxious because you realize your current plan isn’t going to bring you the results you want?  Then stop working ‘in’ your business right now and take some time to work ‘on’ your business.   Create an adventure for your business that will allow you to celebrate upon arrival!  Happy travels.

WANT TO USE THIS ARTICLE IN YOUR NEWSLETTER OR WEB SITE? You can, as long as you include this information with it: Stephanie Ward is the Marketing Coach for Entrepreneurs who want to set their profits on fire!  Grab your FREE copy of the special report ’7 Steps to Attract More Clients in Less Time’ plus business building tips, at: http://www.fireflycoaching.com.