Small Business Building Secret — Marketing Momentum
Here’s a little known secret to small business marketing, growing a business rapidly, that few business owners know, let alone small business owners. It’s called marketing momentum. What that means is that if you do whatever you do with your marketing one time, or just randomly, and sporadically here and there, you won’t ever reach what happens when you hit that “critical mass.” That’s the level where, once you pass that point your marketing starts to explode into your market, bouncing around in your target market, producing results FAR above what “dabbling” here and there will do.
Ken, the owner of a small construction company, had been “dabbling” in his marketing. When I asked him why he was “dabbling” and not “turning this thing on” he said he was hesitant to turn it on fully because he felt that his marketing seemed to be a bit expensive and he was afraid that it might not work.
When I asked him, how many calls he was getting from his marketing he said, “Not much.” So, I asked him if he knew what his response rate is, that’s how many calls out of every hundred of his marketing touches he did.
He didn’t really know. So, he wasn’t in control of his marketing.
The intent of this article isn’t to go down that path of talking about what works in markeitng and what doesn’t. I’ve got plenty of other articles on that. However, the point I am making is that when your marketing is working at at least the national average for direct marketing, around 0.5% to 1.0%, and if that’s delivering prospects to your door at a price that is consistently that you can afford to acquire a client, TURN IT ON. Your questions shouldn’t be, should I do this, but “how many customers do I want to buy.”
The problem is that most people are looking at the “initial cost of marketing” and not at the “cost to acquire a customer.” Again, I deal with that in other articles.
But, where I’m going in this article is, that, for marketing that works, even barely, then there is such a thing as “marketing momentum” that is either working in your favor if you are consistently doing it, or is working against you if you aren’t doing it consistently.
Bakc to Ken, in construction, as long as he was getting a decent marketing response rate, 0.5% to 1.0%, around the national average, he shouldn’t be “dabbling” at marketing. If he was getting less than that, then “it’s time to fix it.” Don’t EVER fall for the myth that “it takes time to build a business” and continue “waiting for your business to happen.” If it isn’t happening now, it won’t happen later, or over time, just because you’ve done it for a long time.
One-time Marketing Has a Fixed, Repeatable Response Rate — Repeated, Consistent Marketing Explodes to Another Level
But, here’s my original point, if you are getting a response rate of over 1%, or close to it, then “don’t continue to dabble!”
Ken was not consistently sending out his email blasts to his list, nor consistently sending his postcard mailer invitation to his workshops, in fact he was doing his marketing only every few months instead of monthly. He also was working his networking rather sporadically. He was trying a little of this and a little of that and when he would get “a little interest” he’d say, “Well, that didn’t work very well” and back off.
When I had started coaching him, one of the first things we talked about was for him to speak to various business and social associations on a weekly basis. He had tried it once or twice, one this month, another a month or so later. When he didn’t get any calls from the first one, he was rather disappointed, and so he wasn’t anxiously going after others. In fact, the second one was on my insistence for him to get with it. He did get one from the second one who wanted to talk, but that one didn’t buy so he got gun-shy about trying it again.
Marketing Momentum Occurs When You Consistently, Repeatedly Market Yourself at the Right Level and Beyond
There are a couple of reasons why we should be consistent. Ken won’t get better until he’s tried it, and fine tuned it. But, beyond that, there is a thing called “marketing momentum.”
When you do “a little marketing” here and there, yes, there is a response rate that you should be able to consistently depend on. What you say, how you say it, (your marketing message) and who you say it will have a somewhat consistent response rate. So, if you sent out 1,000 postcards for your monthly workshop and get a really powerful message that connects with that target market it shouldn’t be hard to get 5% to 10% of that market calling you (50-100) to attend some event you are putting on..
However, if you “dabble” in that sending it out once every few months you are falling short of “marketing momentum.”
In the atomic bomb, there is a thing called “critical mass.” All of the atoms in the bomb are bouncing around inside, hitting each other and generating more atoms to break down and also go out and hit another and another and another.
But, below a certain level of atoms, the activity continues to die down. Fewer and fewer atoms are moving around all of the time. However, when the number of atoms in the bomb are above “critical mass” every time, that’s a certain amount of atoms and activity, one atom hits another and generates 5 or 10 times more coming out, and each of those hit another and generate 5-10 times more coming out, the whole thing gets bigger faster, so fast in fact, that the bomb explodes in a huge rather impressive explosion.
Critical Mass of Your Marketing
Marketing can work somewhat the same way. A I said, doing marketing once, or sporadically here and there, will have a response rate based on your message and whether it connects to your market.
Now you’ve got the content that COULD explode your market. Dabbling in your marketing, a little here and there certainly can get you “hitting some atoms” or getting some calls from your market. But, there is a point of “critical mass” where, once you’re doing it consistently at or above that level, suddenly it starts expanding throughout your market like the bomb that just barely reached critical mass.
That’s when your market “starts calling you,” where your phone is wringing with people that not only attended the last speaking engagement, saw your last mailer, ran into you at a networking event, and they had all heard of you from before. Your message has been running around the community, around your market on it’s own, bouncing off of lots of people, and when they hear you speak for real, or experience you and what you say (in marketing or speeches, or whatever) it FINALLY compels them to call you.
Above Critical Mass Is Where You Make a BIG Impression on Your Market . . . Maybe Even on THE WORLD
But don’t stop at just barely reaching “critical mass” that’s where it just barely starts sustaining itself. Go way beyond. There is a difference between a 5 kiloton bomb, and a 100 megaton bomb. One impacts a 1 mile radius, and the other can impact half a continent. Which do you want to impact.
And even, if your goal is not “worldwide” but just local, you want to make a BIG impression in your market. So find the critical mass and go beyond where YOU are the impressive coach around that market. Don’t make a little pfft — make a big, big impression on your market.
I challenged Ken to “reach critical mass” with the amount of his marketing. He turned his speaking up to slightly over once a week. He turned his monthly workshops up and spread the word at his speaking engagements. He added a couple of tele-seminars a month and also spread the word throughout his other marketing activities.
After the first few, he had only a few interested people, so we fine tuned his message to raise the response rate. And when he was getting 1-2 calls from every activity, you could see that spread throughout his market. He announced a simple mastermind group at 3 networking events a week for 3-4 weeks, and suddenly he was getting calls from all over the nation from his local marketing.. Get your marketing message right so you’ve got the right message that will impact the most people, and then get that message out there to beyond critical mass.
Ken told me who exciting it was when his phone starts ringing and keeps ringing consistently even between marketing activities.
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