| p>Sometimes your sales are going through the roof | | | | average length of time from the initial contact to |
| and then suddenly they come to a halt, the work | | | | closing the sale and signing the contract or selling your |
| disappears and you must scramble to start your | | | | product? |
| marketing cycle from scratch again. This economic | | | | Step Five: Your Marketing Budget |
| roller coaster ride is all too common for small business | | | | Establish a marketing budget. Be aware of the cost in |
| owners. | | | | time as well as dollars. A series of print ads in the local |
| Landing one or two very large clients can provide | | | | newspaper or trade journal may cost thousands of |
| consistent work and cash flow but presents a potential | | | | dollars, but take very little of your time; whereas |
| danger, too. Putting all your eggs in one basket and | | | | attending networking events is relatively inexpensive, |
| focusing on these, while failing to prospect for new | | | | but will take many hours of your time. Don't forget to |
| clients, isn't always wise. | | | | compare the cost of gaining a new customer versus |
| The roller coaster problem is compounded by the fact | | | | the cost of marketing to existing customers. |
| that small business owners are often required to wear | | | | Step Six: Decide on Your Marketing Strategy |
| many different hats at the same time: meeting | | | | Select marketing activities that fit your budget, your |
| deadlines, addressing client concerns or employee | | | | available time and your personality. Consistency is key |
| demands, and dealing with cash-flow issues. On top of | | | | -- make marketing activities part of your daily routine! |
| this, there are personal and family matters, which can | | | | Be selective You can't do everything, so choose a |
| be inescapable when working from a home office. | | | | few activities that will work well for you. |
| When you're busy and the business is humming along | | | | Be realistic: Choose activities that you will do without |
| nicely, it's easy to neglect the very thing that got the | | | | procrastinating. Know yourself, and if you have issues |
| sales going in the first place. Then, when sales drop | | | | that may sabotage your plan, you have two options:a) |
| off, panic sets in again. How can you turn this | | | | Get help and changeb) Hire someone else to do it |
| feast-or-famine cycle into a smooth, stress-free ride? | | | | Be creative: Don't just stick with what is familiar or |
| The Solution: Seven Steps to Keeping Your Sales | | | | comfortable. Try something different -- think outside |
| Pipeline Filled and Flowing | | | | the box. Choose more than one marketing approach. |
| Picture your sales cycle as a funnel, wide at the top | | | | Study other companies that are marketing |
| and narrow at the bottom. You need to keep as many | | | | successfully, talk to those responsible and find out |
| prospective clients as possible entering the top of your | | | | what they're doing, and how and why it's working well |
| funnel, then filtering down to your required number of | | | | for them. |
| new clients and signed contracts coming from the | | | | Step Seven: Track Your Progress Regularly |
| bottom. The idea is to always keep a constant stream | | | | Evaluate how well your plan is working. Find out which |
| of prospects entering your funnel. | | | | marketing methods are the most effective and are |
| Step One: Decide How Many New Customers or | | | | producing the best return on your dollar and time. Keep |
| Sales You Need Each Month | | | | a log in a simple spreadsheet and track everything. |
| What number would be ideal? What is the minimum | | | | After analyzing their marketing results, a maid service |
| number of clients (and sales revenue) you can get by | | | | discovered that their expensive display ad in the |
| with? How many is too many, and could strain your | | | | Yellow Pages generated inquiries only during the peak |
| resources and compromise your service? | | | | season, when they were already working at maximum |
| Be crystal clear about who you are marketing to. If | | | | capacity. However, less-expensive, but attractive door |
| you haven't done so already, create a profile of your | | | | hangers with a discount coupon produced long term |
| ideal customer. | | | | clients in just the right neighborhoods, enabling their |
| Step Two: Understand Your Sales Cycle | | | | teams to be more efficient. |
| How many initial prospects do you need to contact in | | | | The Bottom Line: Balance and Consistency |
| order to make a presentation? How many | | | | Your current customers need your attention too. |
| presentations do you need to make to gain one new | | | | Servicing them is a priority. However, you can never |
| client? What is your closing ratio? It boils down to a | | | | afford to "put marketing on the back burner for now," |
| numbers game. | | | | which can be especially tempting if you don't enjoy |
| Step Three: Select Activities to Meet Your Prospects | | | | marketing. With limited time available, you must |
| Based on the number of initial contacts that you need | | | | become as well organized, efficient and resourceful as |
| to make, how many networking events will you need | | | | possible. Use technology to your advantage; create |
| to attend, flyers will you need to mail, calls will you | | | | and maintain a good database to communicate with |
| have to make? | | | | customers and prospects. Employ the best possible |
| What sort of prospect-generating activities will work | | | | contact management software for a business of your |
| best for you, fit your personality and put you in front of | | | | type and size. |
| your target clients? | | | | Never buy into the misconception that you only need |
| Remember: When you've made these contacts, stay | | | | to market during slow times. No matter how busy you |
| in touch with them, nurture them and keep your name | | | | are, continue marketing. To stay ahead in business and |
| in front of them. | | | | avoid stressful cash flow ups and downs, marketing |
| Step Four: Your Sales-Cycle Timing | | | | activities must become a regular part of your week. |
| In order to plan and predict cash flow, you need to | | | | Set up your marketing plan, faithfully follow it, and enjoy |
| understand the timing of your sales cycle. What is the | | | | a smooth, hassle-free ride! |