This document provides marketing strategies and tools for generating cash flow during lean times. It discusses knowing your business's math regarding price changes and discounts. The document also covers differentiating your business through unique selling propositions, testing and measuring marketing efforts, applying the "10 by 10" rule to grow key metrics, writing effective ads, and conducting break-even analyses for marketing campaigns. Overall, the document offers concise tips and frameworks to help market a business strategically and maximize returns from marketing investments.
2. Coach Thom Finn: Owner/Partner Harrisburg/LancasterCoach Thom Finn: Owner/Partner Harrisburg/Lancaster
OfficeOffice
ď§ Named âGlobal Coach of the Year/Client Resultsâ in Sydney forNamed âGlobal Coach of the Year/Client Resultsâ in Sydney for
2009. Coach of the Year/Client Results for2009. Coach of the Year/Client Results for all of North & Southall of North & South
AmericaAmerica 2009 & 2008, finalist Global Coach of the Year in 2007.2009 & 2008, finalist Global Coach of the Year in 2007.
Average increase in client net income increase :31%Average increase in client net income increase :31%
ď§ Strong back ground in revenue creation/marketing & salesStrong back ground in revenue creation/marketing & sales
strategies, sales person coaching, certified copywriter, residentstrategies, sales person coaching, certified copywriter, resident
expert on web-based copyexpert on web-based copy
ď§ Practitioner of Theory of Constraints Consulting in organizationsPractitioner of Theory of Constraints Consulting in organizations
with faster results to profitability than standard approacheswith faster results to profitability than standard approaches
ď§ Specializing in leadership/management coaching with those whoSpecializing in leadership/management coaching with those who
have focus/ADD ADHD challengeshave focus/ADD ADHD challenges
ď§ In addition to a full-time Coaching schedule ThomIn addition to a full-time Coaching schedule Thom
also owns and runs a turn-key business thatalso owns and runs a turn-key business that
generates overgenerates over $2 Million/year and 28% net profit$2 Million/year and 28% net profit
with virtually no investment of time.with virtually no investment of time.
3. LearningsâŚ.
Blinding Flashes of the Obvious
BFOâs
Write Them Down
A Poorly Written Note is Better Than..
A Great Thought Forgotten
5. To Make Sure You Get the
Most Out of Your Learning ...
I
KNOW
6. 7.5 Tools to Get the Most Out of Your
Marketing DollarsâŚ
1. Know âYourâ Math
2. Ideal Customers - Get Your Target Right
3. âDifferentiation/USPâ
4. âTest & Measureâ
5. â10 by 10â
6. â5-Waysâ
7. Marketing Campaign âBreak-Evenâ
8. Writing Ads that Work7.5.
7. KNOW your MathâŚ.The âMathâ of
Discounting and of Price Increases....
40% gross margin
10% price change = 25%
profit change
With a 10% Discount, what increase in
customers do you need to break even?
60 60 60
40
30
50
0
20
40
60
80
100
120
Base 10% Discount 10% Increase
Profit
Variable/Direct Costs
33%
1
8. Know Your Price Increase
MathâŚ
Margin
Price
Increase
Profit
Increase
Decrease
in
Customers
to Break
Even
20% 10% 50% 33%
40% 10% 25% 20%
40% 20% 50% 33%
60% 10% 17% 14%
80% 10% 13% 11%
1
11. *List 10 Ways Your
Business is Unique
Friendly staff
â
â
â
â
â
If your competitors can
say it, then it's not
unique!
Shop is clean and tidy
We have a 24 hour money-back guarantee
Stock in a range of sizes
We have a unique 8-step fitting program to
ensure that our staff fit you correctly
All of our staff attend an intensive 2 day
color co-ordination training program
We are well established
We care about you
We have a pick-up and delivery alteration
service to and from your home
We have 28 different brands of coffee and tea just so
you and your friend can enjoy your time with us
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
13. Four Steps to Make Your Business Stand Out
1. Survey your best & most loyal customers
a) Know what makes you valued from their point of view
b) What separates you from competition in their eyes
c) Is this what you thought made you different?
2. Narrow their insights into a 1 -2 sentence value
statement
3. Use that statement to drive all communications
4. Test to stay on-track and at the top
Family Owned, Honest, Friendly, XX Years in Bus.
14. My USP
ď§ Free- No Strings- Restraining Order
Ready- Coaching Session
ď§ Coaching Programs from $280 to $1700
a month
ď§ Every Session Guaranteed or $ Back
ď§ Cancel at any time
15.
16. So, why do you track your checkbook better
than your key business metrics?
4
17. 4âŚ..HOW to Test and Measure
ď§ How Did You Hear About Us
ď§ Point of Sales
ď§ ACT!, Salesforce, CRM
ď§ Interview customers
ď§ Track in excel
ď§ Peak time periods only
19. Who wants moreâŚ..
Number of Leads
x
Conversion Rate
=
Customers
x
# of Transactions
x
Avg. $$$ Sale
=
Revenue
X
Margin
=
$ Profit $
6
20. With just a 10% increase...
Number of Leads
X
Conversion Rate
=
Customers
X
No of Transactions
X
Avg. $$$ Sale
=
Revenue
X
Profit Margins
=
$ Profits $
4,000
X
25%
=
1,000
X
2
X
$100
=
$200,000
X
25%
=
$50,000
4,400
X
27.5%
=
1,210
X
2.2
X
$110
=
$292,820
X
27.5%
=
$80,525
21. A 10% increase in each of the 5 areas will
result in a 61% increase in Profits?
Do it 2 years in a row and your profits will
increase by 159% compared to baseline?
Number of Leads
x
Conversion Rate
=
Customers
x
# of Transactions
x
Avg. $$$ Sale
=
Revenue
x
Profit Margins
=
$ Profits $
Did You Know That...
22.
23. Number of Leads
x
Conversion Rate
=
Customers
x
# of Transactions
x
Avg. $$$ Sale
=
Revenue
x
Profit Margins
=
$ Profits $
How We Will Apply the Rule of â10 by 10â
to Grow Your Business...
Work on 5 LG Strategies
Work on 5 CR Strategies
Work on 5 #T Strategies
Work on 5 Avg. $$ Sale Strategies
Work on 5 PM Strategies
24.
25.
26. Marketing Campaign Break-Even
Analysis
Total Cost $ ______
divided by
Average Profit ($) per Customer $ ______
equals
Number of Customers Required ______
divided by
Measured Conversion Rate ______
equals
Number of Leads Required ______
What is the probability that the campaign will
generate the required number of Leads?
7
27. Test AdvertisementTest Advertisement AA BB
Advertisement CostAdvertisement Cost $1,000$1,000 $1,000$1,000
No. Of LeadsNo. Of Leads 1,0001,000 100100
Conversion/SalesConversion/Sales 100100 5050
Ave $$$ SaleAve $$$ Sale $500$500 $1,000$1,000
Ave $$$ ProfitAve $$$ Profit $200$200 $200$200
Lifetime ValueLifetime Value $5,000$5,000 $10,000$10,000
ReferralsReferrals 1010 22
28. Calculate Your Campaign
Break-Even Point
$2500 Direct Mail Campaign
Start with 5-Ways Data
ď§ Average $ Sale
ď§ Average Profit
ď§ Conversion Rate
Use prior Test & Measure Data
ď§ Response rate from targeted DM = 1.5%
29. Calculate Your Campaign
Break-Even Point
Cost = $2500
Avg. $ Profit = $25
# Customers Reqâd = Cost/Avg. Profit Per Customer
= $2500/$25 = 100
Conversion Rate 20% (Measured â not guessed)
# Leads Reqâd = # Customers Reqâd./Conv. Rate
= 100/0.20 = 500
# Leads Expected = # Pcs. X Response Rate
= 10,000 x .015 = 150
30.
31. 1. Using your company name as the headlineâŚ
2. Not using the word âYouâ or some
connotation in the headlineâŚ
3. Not opening a âloopâ⌠Where the prospect
has to continue reading to get the answerâŚ
4. Not having a clear âCall To ActionââŚ
5. Trying to do/say too muchâŚ
Writing Ads that Work⌠7.5
32.
33.
34.
35. ď§ The Headline is the ad for your adâŚ
ď§ Does it select the right readership?
ď§ Does it invoke curiosity? A promise of meaningful
benefit?
ď§ Will it stop the target market in their tracks?
ď§ 20 - 25% of the size of the ad
Writing Ads that Work âŚ.
37. Seen this lately?
ď§ âFamily Owned & Operatedâ
ď§ 28 Years in Business
ď§ âFriendlyâ or âProfessionalâ
ď§ Fully Insured
ď§ Caring, Trained Staff
ď§ On-Time Service
46. Do you REALLY want to get
this stuff done?
NoâŚ.I just wrote stuff to get you off my back
â
â
What would it be like if
you
EXECUTED what you
wrote downâŚ.
YesâŚbut itâs really not that important
Yes! I doâŚI really doâŚ
Take the information on Group Coaching
This Presentation avialableâŚtake a blue
sheet
Story: Driving â remember you had a great idea, just canât remember what it was.
Anyone with teenage kids ⌠experts at this ⌠Yeah I Know Mum ⌠When older do it a little more politely ⌠cross arms and say it to yourself ⌠KILLS Learning ⌠Get agreement everyone will treat today as a totally new experience ⌠Introduce ISNâT THAT INTERESTING ⌠? Total 2 Mins
Client felt they were in a price competitive environment. Felt that they had to come in low on job bids. Took some jobs that generated no profit.
Anywhere from 6 to 10 times easier to sell to current customers, than to identify and sell to new prospects.
So lets look at a few points of uniqueness (go through list) What are some of the common links between the unique area: Specific Different etc Important fact â marketing is all about perceptions â so sometimes you may be the same but you market as a point of difference
Spoke with a chiropractor last year. Running same ad for 6 months straight. Not one identified Lead from the ad. An example of this would be an testing the effectiveness of an advertising flyer. You try three separate designs and issue them in a limited market to a similar area. On each one you have a different special offer code. In order to obtain the offer they have to quote the code so you know exactly where they heard about it. You then record these results to identify which add was the best and then you choose this one to advertise on a large scale
Donât rely on just one or two marketing strategies to bring in 100% of your business; rather spread the load (and the risk) by having multiple strategies that each bring in just 10% of your business. Why Test & Measure? To know where you are â so that you will know what impact (+/-) actions are having Because 80% of all marketing fails Why follow a 10 by 10 approach? Because 80% of all marketing fails
Took up snowboarding 3 years ago. Went to local ski shop â walked out with board, boots and bindings. 17 year old sales person wasnât trained to let me know that, as a new snowboarder, there were a few items I might consider. Helmet, writs guards, binding tool and lock. Could have increased the sale by 10 â 20%.
Talk about the priority for review: Margins Conversion Rate Avg $ Sale # Transactions Lead Generation
Father and son cleaning business. Asked what their Conversion Rate was. Son said about 80%. We said, isnât that interesting. Father took out log book â got 9 out of 20 of last jobs. Thatâs 45%. We said thatâs great â we can improve 45%. We actually got their CR up to about 70% on average. This, combined with a price increase, tripled their revenue in a matter of months.
Father and son cleaning business. Asked what their Conversion Rate was. Son said about 80%. We said, isnât that interesting. Father took out log book â got 9 out of 20 of last jobs. Thatâs 45%. We said thatâs great â we can improve 45%. We actually got their CR up to about 70% on average. This, combined with a price increase, tripled their revenue in a matter of months.
Do you think the chiropractor would have continued spending this money if they had done the Break-Even analysis?
One client â âWeâll change the way you lookâ headline. Only problem, couldnât tell who the âYouâ was.
(5 min) Ask the questions â 3 minutes and talk about them with people on table It might be obvious â something springs to mind Or something or someone you regularly complain about It might be a concern you have â about your competition, your team, your cash flow Whoâd like to share Now Iâd like to ask you the question â what is the impact on you by not addressing these challenges? What will be the future impact if this keeps going the same way? So how are you preparing to overcome them? lets look at what required step by step to create itâŚ
So lets look at a few points of uniqueness (go through list) What are some of the common links between the unique area: Specific Different etc Important fact â marketing is all about perceptions â so sometimes you may be the same but you market as a point of difference
So lets look at a few points of uniqueness (go through list) What are some of the common links between the unique area: Specific Different etc Important fact â marketing is all about perceptions â so sometimes you may be the same but you market as a point of difference