If you're like most small business owners, you rush out and do a lot of promotion when you need customers; afterwards, you'll be so busy working that you won't have time to look for new customers. You become complacent because the money is coming in. When your tasks and clients are finished, guess what! Once more, there is no business. And the earnings decline! Consistency is the best way to escape the roller coaster income condition. You must build a continuous marketing machine that works whether you are busy or bored.
Making a marketing plan is the first thing you should do. To identify your ideal client, their wants, how you can meet those needs, where you can find them, how you will contact them, and the daily tasks you must complete to maintain your pipeline full, you must undertake some market research. These could include speaking engagements, seminars, teleclasses, e-zines, and networking. Unless you can outsource or automate any of the tasks, all of these are labor-intensive active kinds of marketing that require your time. When you have a variety of passive income streams in place, such as revenue from product sales, affiliate commissions, or referral fees, you can also rely on a consistent flow of cash.
Here are a few general ideas to keep in mind when you create your marketing engine:
Never go a day without doing at least one marketing-related activity. Every year, establish clear marketing objectives and assess and modify them as necessary. Keep a list of ideas in your file for later use. In my office, I have a board that serves as my "parking lot" for concepts. Keep business cards on hand at all times, whether in your wallet, briefcase, or automobile. I even have a few brochures with me for that particular event. Never send out any correspondence (invoices, thank-you notes, emails, mail, etc.) without include your company's contact information. Every interaction with a third party provides you with a chance to market yourself! As part of your continuing marketing efforts, you engage in a variety of initiatives geared at attracting new clients as well as ensuring that you continue to meet the needs of your existing clients, who in turn refer business to you. Additionally, marketing entails studying the competitors, positioning your new goods or services (i.e., determining your market niche), setting a price for them, and promoting them through ongoing public relations, sales, and advertising. Continuous promotion helps to increase demand by keeping your service or product in front of your customers and prospects.
3Cs of Marketing Success
Utilise the following formula for the 3 Cs of Marketing Success when formulating your marketing and promotional strategies:
- Consistency (frequent communication with your clients and potential clients)
- Deliver to such customers concise, benefit-driven messages.
- Collaboration (working with marketing specialists or a coach, a mastermind group, and creating joint ventures to speed up growth)
If you are able to master these three things, you will be miles ahead of the rest of your rivals. I once heard Jay Conrad Levinson say, "It's unfortunate, but true that bad marketing done consistently is better than good marketing done inconsistently." You'll avoid experiencing the "roller coaster income syndrome" if you maintain consistency in your marketing strategy, and you'll also be guaranteed a higher level of success.
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