Writing a Business Marketing Plan. Woah… this sounds like a heavy topic that requires more than just a blog! But the good news is there are only FIVE key areas of Marketing and Sales that you need to focus on and improve on to build your business.
These five key areas are:
- Number of Leads – how many potential clients do you attract? Attracting lots of prospects happens when you effectively connect to people who want your products and services (your niche), communicate the benefits to them and demonstrate to them the value of your business over your competitors.
- Conversion Rate – what percentage of leads do you convert into Clients? A lot of business owners ‘wing’ the sales process and hope that their leads will make a purchase. However, planning and documenting your sales process then implementing proven selling tools will improve your conversion rate results and make them more reliable.
- Number of Transactions – how many times a year do your clients buy from you? Brainstorm ways to encourage clients to buy from you more often and include it in your Sales and Marketing Plan. Existing customers already like what you do, which makes it easier and cheaper to get them to buy again rather than acquiring new customers!
- Average Dollar Sale – how much do clients spend with you each time they buy? What could you do to increase the average purchase value of each customer? What should you increase it to?
- Margins – what is the gross or net margin your business achieves? Improving your margin is a quick way of improving cash flow. What can you do to reduce your expenses as a way to increase net margin? Our clients are often surprised at how this, the easiest part of a Sales and Marketing Plan, can make the biggest immediate difference to their results.
Between the five areas, there are a total of some 350 different ways to grow your revenue and profit. Just a 15% improvement in each of the five will be sufficient to double your profits.
This list will help you evaluate where your business is at in each of the five areas. We can also sit down with you and explain each step in detail. Benchmark where you are right now against the five keys, select strategies that have worked for thousands of other businesses, implement them into your business and start to enjoy the results!
P.S. Whenever you are ready…
- Get the ‘finish your business’ checklist: The complete step-by-step recipe to have all the ingredients in place to actually finish your business. That means it works without you and gives you a great life. Click here.
- Join and connect with other entrepreneurs that are building great businesses: It’s our Facebook community where smart business owners are learning to get more customers, build winning teams and put their businesses on autopilot. Join now.
- Apply to become a member of BGB: If you would like to be considered for membership and go from working in your business to working on your business… send us a message and put ‘membership’ in the subject line… tell us a little about your business and what you’d like to work on together, and we’ll get you all the details.
