Jim Connolly Marketing

Your top 2 marketing goals for 2023

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increase value, client retention, attrition

There are two essential marketing goals for you to focus on in 2023, which I’d like to share with you.

First, some context.

In recent months, we’ve seen the start of a massive change. Consumer spending is falling and company budgets are in equally sharp decline. This is forecast to get worse in 2023 as we enter a global recession. And it has already started to change the way your prospects purchase things. They’re having to take drastic action and cut back on expenditure.

  • They’re looking for cost savings on essential purchases.
  • They’re eliminating or reducing non-essential purchasing.

Here are those two essential areas I’d like you to be aware of, along with some ideas on how to put them to work.

1. Increase your value and let your prospects know

You need to greatly increase the value of whatever you provide. Then, powerfully market that greatly increased value to your prospects. Your prospects are thinking really hard about purchases, making value for money an essential if you want their hard earned cash or company budget. I give some tips here on ways to create value.

A common way to greatly increase your value, is to greatly reduce your fees or prices. Lowering fees is a bad idea in any economy. However, when your own overhead is increasing, lowering your fees makes no sense at all. It’s also totally unsustainable, given the long-term economic forecast.

Of course, once you’ve created a way to radically increase the value of your products or services, you need to let people know. This means attracting their attention. Then clearly explaining the compelling benefits you offer, in a way that motivates them to buy from you or hire you. If your service is faster, explain why that extra speed is so valuable to them. If the quality of your product is demonstrably better, explain why that superior quality represents amazing value for them.

Don’t just greatly increase how valuable your service is and expect prospects to ‘get it’. It’s critical that you tell them, in a way that moves them to take action and make the purchase.

2. Work harder than ever on client retention

You need to make retaining your existing clients, a top-level business activity. Their income or budget is being severely squeezed. This means they’re vastly more likely to shop around. This includes clients who until now, have been loyal for years.

To compound things, your clients will be increasingly targeted by your competitors with attractive reasons to switch. Your competitors are experiencing similar challenges to you. Expect them to respond with increased marketing activity and hunger.

In part, you will already improve your client retention by implementing the previous suggestion.

But you’ll need all the commercial firepower you can muster. So, I’m recommending you do what the leaders in client retention do.

It’s simply this: Maintain useful, regular contact with your clients. Clients are used to being contacted when it’s renewal time or when they’re involved with you in a transaction or on a project. The type of regular contact I’m referring to, goes beyond that. And it’s spectacularly effective.

How do you maintain useful, regular contact?

Some common examples include sharing useful resources with them, maybe an app, productivity tool, or useful piece of information [like this]. Also, if you have a contact that could be a great fit for them, connect them. And if you learn of an event that could be helpful to them, let them know. You get the idea.

It’s about being mindful of your clients as you go through your working day, and collecting any resources worth sharing with one or more of them. No, don’t pester them every few days. In my experience, a few times a month is a great place to start. It keeps you front of mind. It’s a great way to become a semi-regular part of your client’s business. The closer the connection between client and provider, the more value you can be to your clients and the harder it is for a competitor to get them to switch.

Thriving in tough times

As we’ve seen over the past 36-months, there have been some huge changes to what we consider business as usual. Each time things took a turn for the worse, some business owners went broke, others struggled but survived, and others thrived. As you’ll know, there were small businesses in each of those three groups in just about every town and city. This often included businesses in the same industry, targeting the same prospects, facing the same restrictions and challenges, yet with very different results.

Certainly, some went into those struggles with significant resources behind them. But that was not so for the average small business owner who thrived. What allowed them to thrive was that they adapted their business to the new ‘normal’. They didn’t hunker down. They didn’t just carry on as if nothing was happening around them. They remained agile and benefited from opportunities that their competitors were not even looking for.

You should consider doing as they did, my friend.

What you don’t know, will hurt your business

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Successful business owners think different

You, yes you dear reader, are just one step away from someone, who already has a trusted relationship with more of your prospective clients or customers TODAY, than you could hope to reach in the next 10 years! And because this person is already trusted by your prospects, they’ll feel positively toward you when the contact recommends you to all of them.

Yes, there are people in that position who will do that for you.

Yes, this is something that happens all the time.

Better still, it’s just one of many tactics that wealthy business owners use. Tactics that allow them to make massive numbers of sales, incredibly fast!

Why I’m sharing this with you

The thing is, you’re not researching who that contact is. You’re not using a proven strategy to get their life-changing endorsement, either. Even though that tactic can make you rich. I know because I’ve used it for decades with people just like you, and it works in every industry.

Don’t be too hard on yourself.

You’re not working this amazing tactic, because you don’t know about it.

And it’s just one of scores of other powerful tactics, that you don’t know about.

All of which you could be using.

Any of which can improve your life forever.

So, in 2023 you’ll simply carry on looking for more sales leads, paying for ads, networking (oh my word), building your list or trying to get more traffic, or whatever low leverage tactics you’ve cobbled together over the years.

Enough is enough

You don’t need leads, ads, networking groups or traffic.

You need clients. Lots of great clients. And that’s where your focus must be.

If you were one of my clients, you’d have access to the right advice and someone who will help you. So, you would already have used the tactic I just mentioned, and you’d be enjoying the rewards. Today, you’d be looking forward to 2023 with justified confidence and excitement.

You wouldn’t trust an amateur to style your hair. That’s why you go to a professional. Someone who will provide you with exactly what you need.

Now it’s time to quit treating the lifeblood of your business as a DIY job and go to a marketing professional. Someone who will provide you with exactly what you need.

The trick is, be an April person!

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motivation, success 2023

Every year since 2008, January has been the busiest month for visitors here on Jim’s Marketing Blog. By the end of March, the numbers revert back to normal. This year will be no different.

January is also the busiest month of the year for new gym memberships. By the end of March, the gyms are way less busy.

Those 2 facts are not disconnected. And they bring with them a very useful insight into human motivation.

The trick?

The trick I referred to in the title of this post is this. Whether it’s growing a business or getting healthier, the ‘trick’ is to understand that success comes from an ongoing commitment.

Success comes from turning up, being there and doing the work.

Not in January when the motivation is strong, but in April [and beyond] when the average person has quit. So, become an April person and stay the course.

The rewards go to those who finish the race well, not those who start well and fail to finish.

Maximum or minimum can make you a fortune

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Business 2023

There are 2 business models, which have proven time and again to be extremely successful.

In today’s post, I’ll show you how both of them work, PLUS how to keep your current business model and open up a whole new marketplace!

The 2 models I’m referring to are:

  1. Focusing on the maximum you can deliver.
  2. Focusing on the minimum you can deliver.

Let’s start by looking at those 2 models.

The maximum model

The business owner who takes the first option, will focus on providing excellence. They’ll place a premium on exceptional customer service. They’ll set the highest possible standards and achieve them. They’ll need to unceasingly focus on delighting their customers at every opportunity.

There is a marketplace who are desperate to be treated this way. And they eagerly, willingly pay a premium. It’s an exceptionally profitable marketplace, too.

The minimum model

The business owner who takes the second option, will focus on cost efficiencies. They’ll consistently search for ways to lower their overhead. They’ll embrace automation and AI. They’ll know exactly what the minimum required is and then deliver on it.

There is a huge marketplace willing to pay for a stripped back product or service. We see them everywhere; no-frills airlines, feature phones, low price stores, etc.

The minimum model works. Really, really well.

Just don’t land somewhere in the middle

The problem comes if you fail to choose, and end up somewhere in the space between those 2 successful business models.

For example.

  • Better than the minimum quality, but not premium either.
  • Less expensive than the premium brands, but not inexpensive enough for the price-sensitive buyers.
  • Products or services that are absolutely fine, but not remarkable enough for people to tell their friends.

By failing to choose the maximum or minimum model, you land in the anonymous middle ground; where there’s very little interest and where it’s really, really hard to get noticed.

Middle ground businesses are why networking groups exist. They have to push for referrals, because their message doesn’t spread wide enough or often enough by itself. They’re stuck in a frustrating, unending and very expensive fight for attention.

Your highly lucrative, new income stream

Here’s something worth considering. Something that can help your business thrive, whilst still retaining your existing model.

What is it?

Develop an additional, new brand; dedicated exclusively to either the maximum or the minimum edge of your marketplace.

Think about that for a moment.

This gives you the safety net of your existing model. Plus, it provides you with all the amazing opportunities that come from serving one of those highly lucrative edges. It opens up a lot of potential, yet with relatively low risk.

Yes, it takes planning. But I’ve worked on this with many clients over the years, and the results can be spectacular. It will allow you to open up a whole new legion of prospective customers or clients. I’ve seen what’s possible and it’s definitely worth considering, as part of your business development plans.

A lazy attitude limits your altitude

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industrious attitude, lazy attitude

Back when I was at school, I remember one of my teachers grading my work with an F, and I was lucky to even get that! Mr King also included the following 2 words: Lazy attitude! He was a great teacher and he was absolutely right.

He knew the distance between what I was capable of, and what I actually achieved. It took me a while, and a few more failures, but I eventually learned from it and have benefited from an industrious attitude ever since.

Working attitudes

Today, aspiring business owners often ask me for a tip that will help their business idea to succeed. I tell them that no matter how amazing their business idea is, it’s no match for a lazy attitude. Doing the work, all the work, is essential for success.

I then share how an industrious attitude to business manifests itself, compared to a lazy attitude.

Industrious attitudes

Those with an industrious attitude will get an amazing business idea. Then, they’ll find out what needs to be done, and do all the work required. Their idea stands a good chance of success.

But that’s not all.

Because these people have an industrious attitude, they’ll keep on working at it. They’ll keep on doing the right things correctly, achieving success upon success.

Lazy attitudes

Those with a lazy attitude will get an amazing business idea. Then, they’ll find out what needs to be done. But they’ll refuse to do all the work required. They will avoid tasks that are essential, but are outside their comfort zones. Consequently, their idea has absolutely no chance of success.

But that’s not all.

If they choose to stay in their comfort zone, they’ll keep failing to do what’s needed, suffering failure after failure.

Ditching a lazy attitude once and for all

1. There’s no comfort in your comfort zone. None. It’s a place of regret and lack.

2. Hard work is overrated. Great ideas are overrated. But when you put the two together, there’s no limit to what you can achieve.

Any of us can choose to leave the fake comfort of a comfort zone. It will take time. It will be hard. But it’s literally the only possible way to succeed and keep on succeeding.

Forget networking events!

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Forget networking events

A caller once asked me on a live radio show, for tips on how to work the room at a networking event. I can still remember the shock in their voice, when I gave them my answer. However, the listeners found it really useful, so I thought I’d share it with you.

Here it is. Drum-roll please…

Forget it!

I explained that I wouldn’t spend much time, learning how to get the most from networking events.

No. I wouldn’t spend any time whatsoever on it… none, zero, nada.

Instead, I suggested they focus on ‘why’. Specifically, why they needed to go to networking events. Why their clients, website, social networks, newsletter, customers and contacts weren’t providing all the leads their business needs.

Whenever a business isn’t attracting enough sales or new clients, it’s always because they’re neglecting something. So, rather than pestering strangers at networking events, I offered a few alternative strategies.

Attract interest rather than pestering strangers

Here are some of the things I do for my clients, which work extremely well.

  • I bake marketing into my client’s products or services. This means making their products or service so remarkable, that they almost market themselves. Just think about that for a moment.
  • I create a story about their business, which is so remarkable their marketplace want to share it.
  • Most importantly of all, I put an FTA structure in place for my clients. It’s extremely effective. Here’s what an FTA structure looks like.

So, be kind to yourself. And choose marketing that actually works for you. Marketing that allows you to focus on what you do best.