Our Top 5 Rules for Successful Marketing Success

www.buyingcustomers.com 

When business owners are asked what their greatest need is, the top answer is more customers. Is this necessarily true? For many businesses more customers will not increase bottom line profits but, that is for another post.

All businesses do need new customers. Do you have an effective marketing plan in place to attract new customers? What is a successful marketing plan and how is it created? Developing an effective marketing plan is not rocket science but, does take careful consideration.

Here are our Top 5 Rules for Creating a Profitable Marketing Plan:

1. We are in the Profit Business!
   Marketing is Math. Understanding the costs of acquiring new customers is a key element to creating your marketing plan. 
2. Marketing is a Long Term Strategy
   Putting effort into understanding the current target markets of the business and which new markets to focus on will yield better results. Spend the 60% of your time on the target, 30% developing the offer, and 10% creating copy. Remember, the copy is the sizzle, the target is the steak. 
3. Marketing is the Pull, Sales is the Push
   Marketing plans are an investment and initially cost more than sales initiatives. The goal is getting customers to seek out your business. Spend 50% of your time on running the business and 50% of your time on marketing your business. 
4. Know how much is cost to buy a customer 
   Marketing is math. When you understand that marketing is all about “buying customers” you begin to change they way you look at your advertising and marketing. When you know the acquisition cost of a customer, you can begin to create an unlimited marketing budget and buy as many customers as you want.
5. Understand the Lifetime Value of Your Customers 
   Increasing share of wallet and increasing repeat transactions reduces acquisition costs. Are your customers aware of everything you offer? Are they recommending you? Are you showing appreciation to current customers to prevent them from choosing a competitor? 
6. Work the Plan 
   Make scheduled reviews part of the plan. Test and measure offers and communication vehicles. Marketing plans should be fluid. Always be open to updating the plan as your business, your customers and the and the market changes. 

I know I said 5 but when it comes to marketing you should always strive to provide more value.

To learn more about Buying Customer check out Brad Sugar's new book coming out December 4th.  www.buyingcustomers.com 

Wishing you much success,

Coach Steve



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