Marketing Advisor Update

Sales and marketing tips, insights and advice for service businesses amd companies selling complex or technical products.

Monday, January 23, 2006

New business faces old challenge - where to focus?

Today I was speaking with a potential client. Let's call him Max. You see Max has been struggling with attracting more clients to his financial services business. But now he has a great idea. Max has identified a niche where he can offer a service that can provide fantastic value for his clients, and really benefit those who refer clients to him.

The problem is that Max doesn't know what to do next - that's why he contacted me.

During our discussion it became clear that Max needed to focus on a few high-potential marketing tactics. Instead of doing a bit of everything, and spending (that is, wasting) time trying to monitor non-existant results at this early stage, I suggested he should do one thing. Focus on getting leads.

To do this Max must refine the way he is dealing with referrers. He needs to create an information sheet that "sells" his service to them, and emphasise the benefits for them as a referrer (in this case the benefit is a big commission payment for the referrer if the client succeeds and buys their product, which is financed by Max).

He also needs to create a series of educational emails to follow-up with all the referrer contacts he is making. Currently he is following up by personal visits to many different workplaces to see these potential referrers. Time.. time... time... is slipping away.

Max also needs to create an information-rich web site to attract clients. The information presented needs to educate the client on Max's innovative finance service, and also capture contact details, as well as establishing trust and credibility. I suggested Max use a short information series for this purpose, delivered via email.

The answer here is to focus on what will produce results. Most businesses have too many marketing options. It is easy to get lost in the choices, with half-baked attempts at a diversity of marketing tactics.

Don't be distracted. Stay focused on what works best - and keep at it.


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