Business & Finance Advertising & sales & Marketing

Mr. Widgethead"s Marketing Plan

Have you met my client Mr.
Widgethead? If not, please see my previous blog to learn about his struggles.
That blog outlined some of the obstacles he faced in growing his business and the broad strokes plan we came up with to help him.
In month 1, we set "activity" goals for his marketing efforts and he started 2 new marketing components - networking and a monthly email newsletter.
Today, I want to go in depth on the networking successes and challenges we worked on in Month 2.
We used the REVENUE System to achieve the desired results.
Step 1: Review where you are and what you have done (or not done) to get here.
Mr.
Widgethead had never networked.
For 20 years, people had found him and bought his widgets (which paid the bills) but now he wanted to grow the business and didn't know how.
Step 2: Expose the obvious obstacles.
Mr.
Widgethead had no idea how to network.
Though not exactly shy, he wasn't crazy about walking into a room full of strangers and asking them to buy his widgets.
Step 3: Visualize your success and get really clear on where you want to be.
Mr.
Widgethead had to spend time thinking about where he wanted his business to be.
He needed to think about the time he could spend on networking as part of his overall plan to build his business and what it would be like to reach his financial goals.
Step 4: Enumerate the known steps needed to reach your goals.
Since a hard sell isn't the right approach at networking events, he decided that he would go in with the goal of collecting business cards.
He will use the business cards to follow-up with potential clients and possible Strategic Referral Partners (people who "sell" a different product to the same target market) and put everyone on his email newsletter list to increase his readership.
Step 5: Note the daily, weekly, and monthly tasks on your calendar.
First, he put his chosen networking events on the calendar, met people and got business cards.
Then he designated every Friday morning to follow-up with people about possibly getting together to discuss how they could help each other-either build each other's business or handle their widget needs, whichever was appropriate.
He also want to use this time to input the contact information from the business cards into his database for his email newsletter.
Step 6: Use your customized plan to move towards your goals.
At the networking events, he played with different "taglines" and "pitches" to see which ones got the best response from people.
He found that he liked "structured" networking events like speed networking or structured referral groups (like BNI) better than "meet and greets" but found he was getting more and more comfortable with all the networking.
Finally, he realized that he regularly ran out of time to input the contacts into his database and hired a high school kid to do that for him.
Step 7: Enhance your plan through ongoing assessment and adjustment.
Not long after he got started, Mr.
Widgethead realized that he could add more networking events to his schedule.
He initially thought he wouldn't have time but reassigned some of his widgetmaking tasks to his production manager and put some other time management tools in place which allowed him to up his networking events to 3 or 4 a week.
He felt this was important for a while to get some momentum going with the realization that it was temporary since as he met more people, he would have more people to follow up with and then to get referrals from his new clients and on and on.
At the end of month 2, Mr.
Widgethead felt he had a good grasp on networking and follow-up.
He already understood the power of "word of mouth" from his current customers and was glad to see that networking could provide a new forum for this.
He set goals for month three: 1.
Get really clear on his target market and how to use "client attraction" techniques to get them to come to him, and 2.
determine how many proposals he needed to prepare and present to new prospects each week in order to reach his goals.
Please stay tuned to this widget channel for more about the exciting business transformation of Mr.
Widgethead.

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