The Secret to Scientific Marketing

Is your marketing scientifically measurable?

Do you know how many are out there looking for YOU?

And do you know what percentage of those should be calling you everytime you send out your marketing?

Or do you just throw your marketing at the wall hoping and praying that someone will call you? If you do, you are like 99% of all business owners.

Read on to turn your marketing into Scientific Marketing that delivers exactly the number of people you want whenever you do your marketing

Scientific Marketing Formula

First, let’s look at the marketing formula, a formula that tells you exactly how many people should call you every week, and every time you send out your marketing.

getting clients -- scientific marketing formula

Scientific Marketing Formula

 

 The marketing formula says that marketing is nothing but

  • the number of people who get to see or hear your marketing message
  • times
  • the conversion rate of that marketing message
  • equals
  • the number of people who respond to your marketing message

So, for instance either you send a brochure by mail to 1,000 people, and your marketing message, if it’s good, should get between 5% to 10% response rate, so you should have 50 to 100 calls from sending that marketing out. Or, if you have 1,000 people a month to your website you should have 50 to 100 people taking that next step you wanted from your website.

And if you aren’t getting those results, it’s a simple fix. Let’s say that you do send your brochure to 1,000 and only get 1 call, or no calls. What’s your problem? Simple. The marketing message isn’t grabbing the people you sent it to. You’ll have to either fix the marketing message so that it COMPELS them to respond, or send them to the right people, those who need what you do.

Do you do what most businesses do, send your marketing and say “Oh, darn. That didn’t work. I’ll never do that again.” In other words, you threw some marketing out there hoping and praying it’d get some calls, but when it didn’t, your next response was that you’d never spend money on marketing ever again.

That’s GUARANTEEING failure.

Or, in an attempt to keep costs down, you sent your brochure to 5 or 10 people.  Even if you did have a response rate of 1% or so, it’s likely that you’d never get any replies. Again, you’ve guaranteed your failure.

The marketing formula gives you THE SECRET to your success.  You know how many you should be sending the message to to get however number of replies you want, and it also tells you if your marketing message is getting good enough replies.

Most businesses get around 0.1% response rates, but with the right marketing message an average GOOD response would be between 5% to 10%, and I’ve seen even 40-50% with some forms of marketing that have highly targeted their market.

Cost to Acquire a Customer

The marketing formula helps you figure out one more marketing secret, the cost to acquire a customer.

Let’s say that you spend $1 for your marketing piece, and get 10% response rate. What did that lead cost you? $1/10% = $10. Now let’s say that you close 50% of those you talk to. So it now costs you $20 to acquire a customer.

If your sale is $1,000, and it cost you $20 to acquire a customer, your next question should be “how many $1,000 clients do I want to buy for $20. Keep shelling out those 20’s.)  If you are selling a $20 product, however, your marketing message needs to be improved, and your cost of marketing reduced. But NEVER EVER stop marketing, just make it work!

But now let’s look at where most people are. As I said most business owners get about 0.1% response rates to their marketing message. So what does a lead cost you now? $1/0.1% = $1,000 (for a LEAD). And if you close 1/2 of them, that customer cost you $2,000.

Marketing is your key to success. You HAVE to design the marketing that works and crank it up. You can’t afford to reduce marketing. Use the marketing formula to plan your results, then tune it up to make it work that way.

Marketing Message

 Developing your marketing message to DRIVE your prospect to begging you for your products or services is the key to your success.

Be sure to read “30 Seconds to Prospects CHASING You” and several of the articles in this blog on how to drive your prospect crazy with your marketing message.

I frequently hear business owners respond to that last statement with, “But what I sell isn’t something that people beg for.”

Either you are selling the wrong thing, OR more likely, you just don’t believe that it should drive them to beg for it, in which case, that’s why you are struggling to sell it. Look around you. Are some having lots of success selling but you aren’t? Then it’s the message not the product or service.

Do You Know How Many Are Looking for What You Do?

I’ve had business owners tell me that NO ONE is looking for them due to this economy. But that was just because what he had been doing is no longer working.

This was a construction company that told me that no one was building homes any longer. Yet when I looked, there were 13,000 people right here in our city that were looking for “construction companies” and other things that construction companies do. So, just put that 13,000 into the marketing formula.

First he wasn’t marketing any more because when he had sent it out last time to 50, no one replied. Yet he should have had 13,000×10% = 1,300 people. In this case his marketing message was targeting new construction, but when we changed it to remodeling, carpenter, handyman and then started marketing to over 1,000 a month, his sales went higher than it was before the economy went down.

Marketing is not something you can eliminate in the name of “saving money.” Marketing is a MUST, and you must use the marketing formula to manage your results. If you’d like to work on it, give me a call, 816-415-8878. We’ll fix your marketing to get more clients.

If you’d like to develop your marketing message to have them lined up outside of your door, down the street, and around the corner, give me a call, 816-415-8878. We’ll work on your marketing message to start reaching more customers faster.

Alan Boyer, $100K Small Business Coach
Helping business owners reach another $100K to $1M within months and to stop playing in the kiddie pool when attracting new clients.