In this post, I am going to show you a very simple way to make your marketing massively more powerful.
Most small business owners / entrepreneurs have only a vague idea of what they want from their business. They tend to be highly-motivated and launch themselves like a rocket into their work. However, with a little more forward planning, it’s possible to totally transform your sales results!
Imagine setting off on a journey; from where you live to an unknown destination 300 miles away. How would you prepare for that trip? You would probably check the route on a map, so you knew where you were going and how to get there.
You might also check the weather and traffic conditions and ensure you had enough fuel. With all this in place, you stand a 99.9% chance of getting where you want to be!
If that journey had been ‘planned’ ahead the way most small businesses plan ahead, it would have been very different!
There wouldn’t be a clear destination, so it would have been impossible for them to plan a route. In other words, they wouldn’t even know if they are heading in the right direction or not! With no idea of where they’re going and no route to follow, they could end up anywhere.
Marketing and planning
If you study any successful business, you will see that they deliberately plan what they want in advance. As a result, they can spot immediately if they are on target or heading in the wrong direction. They are also able to anticipate potential hazards and even identify the people; whose help they will need in order to succeed. Because they know where they are going, every step takes them closer and they can plan ahead with far, far more confidence than the average business.
How to smash your sales targets with a little planning!
Here’s a quick way to find exactly what you need to do, in order to reach your annual sales target. It also gives a quick insight into the power of using firm figures.
List your desired turnover & profit figures
You need to know what you are aiming for in real terms. This means writing down what you want to ‘get’ from your business financially.
List the number of sales needed in order to hit those figures
Once you know how much money you want to earn, you need to identify how many sales you must make in order to reach that figure. This then becomes your annual sales target.
List the number of enquiries needed to generate 1 sale
How many meetings, calls, emails, letters from prospective clients / customers do you need on average, to generate a sale? If you need 100 sales to hit your sales target and each sale requires 3 enquiries, your initial focus should be on generating those 300 enquiries as inexpensively and quickly as possible!
Divide the number of enquiries needed by 12
In the above example, you would need to generate 25 enquiries a month in order to hit your annual sales targets. This means you would now have a very clear picture of the kind of marketing activity you need to invest your time / money in, if you want to succeed.
Now that you have a good idea of ‘the numbers’ required for you to hit your sales targets, you need to start generating those sales / enquiries! To help you, here’s a list of 10 of the most effective forms of marketing for small and medium-sized businesses that I know.
Over to you!
What forms of marketing have you found to be most and least effective for your business? Please share your experiences with us and leave a comment below!