Edmonton Business Coach | Business Plan Sales & Marketing Section
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If you have any sort of growth, you have to not just understand but intimately understand the marketing initiatives in order to project the growth and do financial projections. They’re on. Yeah, I can see why too. I can be [inaudible] cause it’s not. Hi, thanks for tuning in for another episode of ask Spiro CPA. Today as the EBITDA business coach, we are talking about the business plan sales and marketing section. I Have Laura here with me today. Okay. So Laura Lynn, you go to school and you’ll, they teach about some financial projections and you learn how to do the financial projections in your accounting classes. Right. Covered that. And then you learn marketing in another class, right? Yep. Yeah. Do they do a good job in school? Cool. Of marrying the marketing to the financial plan and projections, are they always doing those in isolation in different classes? They’re isolated, isolated in the real world. That’s not how it happens. So the quote that we have here today, you know, it’s a Peter Drucker quote. He wrote 39 business books and he says, nothing happens until someone sells something. And the statistic that we have, we often bring up is 50% of all Cain business will go out of business in their first five years and 42% of these failed businesses will list their inability to attract enough customers as one of the primary reasons for their failure making the inability to attract enough customers as the most common reason for business failure. And the story that we have here are most business plans. Please give us a call now if you need top Edmonton Business Coach today. They either have no sales and marketing plan whatsoever or they have very vague sales and marketing initiatives listed in it. So Laura, what are the questions that these business owners should be asking?
It’s understanding the sales and marketing plan necessary to do financing projection use 100% necessary. I don’t know how we are supposed to, you know, do any projections on any sort of growth factor if we don’t understand how we’re going to hit that growth factor. You know, what are the Ma, if we’re going to grow this business from a million to $2 million a year, you know, how are we going to do that? What are those initiatives that we’re great? You do, what do you think of business plan projections that don’t have marketing details? I think you should take those business plans that have those projections, bring them out into the yard, build one of those fire pits, pap, some gasoline and a match and light them on fire because I have no idea how these people, you know, continually do these financial plan projections that are based on, you know, Pixie dust and wishes you if you’re, if you have any sort of growth, you have to not just understand but intimately understand the marketing initiatives in order to project the growth and do financial projections they’re on is just listing the type of marketing initiative by itself. Question. Uh, it’s not sufficient enough. Be sure to call us now if you need the absolute best Edmonton Business Coach today! You know that it’s a start. I mean, it’s better than nothing. At least someone is learning to list how they’re going to grow their business. But just listing the type A, you know, it’s not sufficient. And so imagine if someone tells me I’m going to grow this business from half a million dollars a year to 500,000 to to $1 million a year and I’m going to drop flyers.
Okay, maybe, but I don’t know enough yet. That’s not enough yet. Why do you need to know the number of times this marketing initiative will occur? So then we start to get a little bit more detail. Someone that same person, you know the number of times that’s going to occur. So imagine that same person now tells me, okay, I’m going to drop flyers to get my business from 500,000 to a million dollars a year and I’m going to drop 10,000 flyers every single month to the, you know, over 12 months to the same area over and over and over again. Now I’m getting some more details. Now I can start to understand, okay, if for every thousand flyers we drop, we’re going to get it as many phone calls for every phone call we can get, we can get this many appointments for every appointments we get. We get this many deals. Now I can start to run the, run some numbers and actually, you know, ground my financial projections in reality rather than guesswork. Please give us a call no to get top Edmonton Business Coach!
Why do you need to know how much this marketing initiative will cost? So it’s great to say we’re going to drop those 10,000 flyers. But what if it’s, you know, that flyer, that brochure they want to drop is $2 a piece. Did they have $20,000 per month? Uh, to do that? Although that the top line number looks great. A lot of times those marketing initiatives, you know, the business growth will trail that marketing initiative. So you’re going to have to work on that market initiative and hammer away at that market initiative before the revenue appears. So we have to know how much it’s going to cost to see this reasonable. What are some of the marketing initiatives do you think most businesses should do? Yeah, so we run into hundreds of Martinus as the things that people have done that worked and the things that people have done that haven’t worked. The, some, the, some of the stuff that sometimes work depending on which industry you’re in. Um, but some of the ones that you have to do is you got to set up your Google places listing and get reviews. You have to set up your Google places listing and get reviews because it is free. Uh, and 88% of all your ideal and likely buyers are going to look at that. And every other market initiative that you do, they’re still gonna come back and look at those reviews. So, you know, that’s one that you have to do. You know, things like doing youtube second most popular search engine again, it can be done for free. Um, so those are some of the ones that that should be done and can be used very efficiently to populate content.
Um, then we’re, we’re talking about, you know, making sure that you have your, your differentiation factors and a one sheet sorted up. Do you, are you really clear about what you do versus what your competitors do? Do you have? And then from there, translating it into, do you have your problem, vision, mission, and values? You know, sorted out, you understand who you are, and then is your branding communicating that to the customers? Do you have the right logo on? Do you have it put on the trucks you to put on the vehicles? Is there uniforms in place? Do you have it displayed at your, your office or your clinic? Um, and then do you have a, an offer, an offer that is so good that your average customer can’t refuse, that you’re gonna get on their short list when they’re shopping around for a new dentist or a new contractor? Uh, you know, is it so good that they, they can’t refuse that they’d looked at 10 other, uh, businesses, but you’re on their short list. They’re going to come and see you. What is that no brainer offer? And then can we get a website that’s going to rank on Google, not a website that’s like the billboard in the middle of the woods. That’s, that’s not going to do anything. Those are the types of marketing initiatives that most businesses need to do. Regardless of what industry they are. Please just call us now at 780-665-4949 so they can help you now also check out spurrell.ca when you are ready!
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what are some initiatives that are more specific based on industry and patient? Yeah, so solid issues and once you have those basic, I tend to call them the foundational marketing initiatives where it really doesn’t matter what industry you’re in, you need to write yourself a note. Now we get into other ones like, is there, are we dropping those flyers? Are we running online ads? Are we writing Google ad words or retargeting ads? Are we running a youtube pre-roll ads? How much they’re costing? Maybe we’re running Facebook ads, you know, what is the budget for those? Maybe we’re doing events, trade shows, um, or other types of events. Um, you know, maybe we have a social media campaign and we’re posting or you know, when we’re joining a networking group or doing networking meetings, maybe we’re doing outbound calls. We can start getting into those of what actually supports, you know, your brand and your vision. Those are kind of the, what I call the, the pipeline initiatives or secondary initiatives. You know, once we have that foundation in place that we can actually convert those people when they decide that they’re interested. Please reach out now if you need top Edmonton Business Coach today. Um, then what’s the people that you know, get, what are the things that get them into the funnel to begin with? Um, those are some of the, the initiatives that we look at.
Okay. Are there marketing initiatives that you can do with that? A lot of money. Yeah. So some people think, why a sales and marketing if I don’t have any money? Um, but we always, you know, ask the business owner, do you have more, more time than money or more money than time? Um, and a lot of business owners, when they’re starting out, they have more time than money. Um, so there are a number initiatives that we can do that work without a big budget. We talked about a few of them already. It’s, it’s, you know, we can get that Google places listing set up. We can get some traction on youtube. Heck, most businesses, if you’re a Google places, a free Google places listing 40 Google reviews, you would outperform a $5,000 website that no one can ever find. Please call us now if you need top Edmonton Business Coach today! Um, so it just, by having Google places listing and having it correctly optimized, uh, that will, and then we start talking about doing, you know, maybe a, Oh, we put together that no brainer offer and then we do an outbound strategy for a lot of businesses, whether that’s, so some businesses have to get their hands dirty and they have to knock some doors. Some of them have to make some phone calls. Um, you know, s some of them, you know, they’re going to have to do some networking events and get out there. Um, some of them are, are going to have to do a little bit of free work to build relationships with people who can refer them over and over and over again. So there’s, you know, a ton of marketing initiatives that you can do without a lot of money.
Okay. Once you have more money, should you focus on initiatives that require less time? That’s generally the mood because a lot of those, let’s call them those, uh, you know, initial marking issues that you do, they require a lot of time and then they’re not infinitely scalable. Although they might be cheap to do. They’re completely dependent on the business owner’s time or maybe a staff member’s time. So then you should start building out your marketing plan and start building in items that, that work even when you’re not working. You know, we were running those Google ads, we’re running those retargeting ads, we’re running those youtube pre-roll ads. Um, there’s a number of initiatives that you can do. Maybe you’re doing events as opposed to meeting people one on one. You want to be more time efficient with your marketing issues. It’s not just about treating the cheapest marketing issue cause there’s always, you know, two types of costs in the Marc Initiative. It’s how much money did I have to put out to do it and how much time did I have to put up to do it? Because both art, you know, tend to be finite resources.
At the end of it today is hiring marketers without a plan like building a house in Prince? Yes. Um, most of the time, the mistake that most business owners make is they don’t have a marketing plan. They have no idea. You know that your sales and marketing plan can be built right into your business plan, making it one in the same. So those, those financial projections are rooted in that sales and marketing plan. Um, and but most business aren’t. They don’t do that. And they just hire someone who’s good at websites or maybe someone who’s good at ads and you know, we know that this doesn’t work. If you hire someone who’s, you can make you a pretty website but they can’t get it on page one, it doesn’t matter. It’s not going to convert anybody if it doesn’t have an effective above the fold, no-brainer, their conversion rates are gonna go down. Be sure to reach out now if you need top Edmonton Business Coach today! You find someone who runs ads and they charge you your management fee to run these ads, but you don’t have the reviews.
And another stats show that those, those ads are going to be more expensive to run and they’re less likely to convert. So hiring marketers, it’s a lot. I tell people, it’s like hiring a bunch of subtrades. So you hire a plumber, an electrician, a drywall, and you say, Hey, can you just show up? And they show up to the job site and you don’t have a set of blueprints for them to follow. Chaos is going to ensue. And that’s how most business owners choose to market their businesses. So you know, you really need that plan or else that’s a lot like building a house without a set of blueprints. So I think that’s what we have here today. As always, please hit that light and subscribe buttons so we can continue to deliver your tips on how to beat the odds at business. And if you have any comments, we’d love to see them below. So if you can respond back and use your input for future videos. Thanks very much. Just dial 780-665-4949 as you can but also take a look at spurrell.ca too!