Never leave your marketing strategies to chance! Check out how you can get everything you can out of all you’ve got! [Monday: Marketing Marvels]
According to American author Tony Robbins, all too often, marketing strategies are left to chance. Even though they have ad campaigns or keywords research, lots of businesses’ marketing efforts are not measured based on their return on investment (ROI).
Because of this, marketing strategies end up becoming like an airplane’s “black box.” It is always there, but business owners and marketers would rather not look into them or maybe dread looking inside.
Here’s the thing:
For Robbins, marketing efficiently is actually quite simple. Instead of recklessly throwing various marketing strategies at the wall, take a step back and analyze what marketing strategies or examples work well for your brand.
American business executive Jay Abraham can help you with that.
Jay Abraham is the founder and CEO of the Abraham Group, a marketing consulting firm focused on providing growth strategies to businesses.
Born on January 8, 1949 in Indianapolis, Indiana, Abraham is known for his work in developing strategies for direct response marketing in the 1970s. In 2000, Forbes listed him as one of the top 5 executive coaches in America.
In case you’re not aware, Abraham is also the author of one of the revolutionary handbooks in strategic business and marketing. That book is…
“Getting Everything You Can Out of All You’ve Got!”
In this book, Abraham discusses his 3 pillars of revenue:
- Get more customers.
- Do repeat business with those same customers.
- Sell higher ticket products to those customers to increase revenue.
The book also contains Abraham’s answers to some of the most frequently asked questions in the field of marketing, such as:
When do you need marketing strategies?
Abraham said the answer to this question is ALWAYS. As an independent business owner, marketer, copywriter, or manager, you have to make sure your marketing strategies and investments will pay off regardless of the economic situation.
In Abraham’s words,
“Unquantified shots in the dark are not a smart investment, but a carefully crafted marketing strategy can have an ROI of over 100%.”
If you can articulate an answer to a problem your prospective clients didn’t even realize they had, you will experience significant growth no matter the economic times.
What makes a good marketing strategy?
Marketing is great, but you’ll need to understand its multifaceted role to get great returns from your efforts.
What are these roles?
- To identify, connect with, and attract the best quality and quantity of desirable prospects
- To convert these prospects into first-time buyers, upgrade them to multiple product buyers, and compel them to return as often as necessary to transact with your brand
- To ethically connect with them for alternative or ancillary revenue streams that will improve the quality of your relationship
However, knowing the different roles above has to go hand in hand with knowing your goals. You can’t possibly get to your desired result if you don’t know what you want to achieve, even if you have an idea of what marketing can do.
How do you get started with marketing strategies?
To identify the appropriate marketing strategies for your brand, you need to have concrete answers to these questions about your business:
- What methods did you use before to build your business? Which of these was the most successful? The least successful? Why?
- Which of your marketing efforts brought in the bulk of your sales or clients?
- Do you regularly test the various aspects of your marketing activities to ensure they’re producing the best and most profitable results?
- How well-connected are you with your clients?
Answering questions like these will help you optimize your marketing efforts and allow you to break down every aspect of your current business to understand, analyze, and identify where real change and growth take place.
The bottomline?
With the right marketing strategies, small changes can turn into big returns.
Simple, straightforward, and insightful, right?
These are just a few of the marketing lessons we can learn from Abraham. In a future “Marketing Marvels” article, we will discuss a few more tips we can get from him and his experiences and insights.
Take note of these tips and apply them to your own business strategies. With the right approach, these will help you get everything you can out of all you’ve got!
(This article is from The Business Builder Daily, a newsletter by The I Institute in collaboration with MBO Partners.)
About The Dynamic Marketing Communiqué’s
“Monday Marketing Marvels”
Too often, industry experts and the marketing press sing the praises of some brand or company’s marketing strategy.
… only for the audience to later find out that its product was a flop, or worse, that the brand or company went bankrupt.
The true ROI in marketing can’t be separated from the business as a whole.
What good is a marketing case study if one can’t prove that the company’s efforts actually paid off?
At the end of the day, either the entire business is successful or it isn’t. And the roles of marketing and communication are always paramount to that success.
Every Monday, we publish a case study that highlights the world’s greatest marketing strategies, marketers, and communicators.
However, the difference between our articles and the numerous ones out there is that we will always make certain that the firm really did generate and demonstrate earning power worthy of study in the first place (compliments of Valens Research’s finance group) in keeping with a person’s leadership skills in the area of marketing and/or communication.
We’ll also study the greatest marketing fails and analyze what they did wrong, or what they needed to improve. We all make our mistakes, but better we learn from others’ mistakes—and earlier, rather than later.
Hope you found this week’s marketing marvel interesting and helpful.
Stay tuned for next week’s Monday Marketing Marvels!
Cheers,
Kyle Yu
Head of Marketing
Valens Dynamic Marketing Capabilities
Powered by Valens Research
www.valens-research.com
