With So Many FREE Social Media Platforms it is cheaper than ever to start marketing your business.
But that doesn’t mean you can still earn a healthy living by not investing money in your marketing. A big mistake many therapists and coaches make!!
The fact is FREE promotional activities wont turn enough paying clients to sustain and grow your business.Businesses need investment.
Every business need some sort of marketing investment especially in the early years, most start up businesses spend a large part of their initial investment in marketing and then at least 10% of the revenue you bring in. If want your business to remain sustainable, you need to invest in the things that will help that business to grow, so you really need to set aside a budget for investing in promotional activities or your business wont have the necessary resources to be visible enough. The bigger and quicker you want to grow the more investment in time, energy and money you normally need.
Now that doesn’t mean you need to stop using free resources available that are right for your business. But choose wisely the resources you use, look for resources where your niche/typical client will hang out. You may think I don’t have a typical client, but I can assure you, not everyone is your target market, your clients. We are all unique, all different and clients go to different healers, therapist, coaches and counsellors for all sorts of different reasons.
It is so common for holistic business owners to genuinely believe they don’t need to pay to advertise or that they can’t afford it. Your charges should include a set amount for re-investment into your business. So even if you only charge £20 for something at least £2 should go back into your marketing to gain your next clients.
Another myth is that everyone is a potential client that isn’t true either.
As a business owner it is your job to create a business and market it in an effective manner that the right clients will find you. For many types of business, marketing usually encompasses more than a few hours of work in a week, more like a few hours a day. Consumers are more savvy than ever about marketing manipulation. So potential clients tend to take a lot longer to buy, they want to trust you, so it’s your job to build up good connection and trust. Allow potential clients to see that you are not just there for the sale, but you genuinely care and your business is their for the long-haul not just their for that one event or just for your latest venture.
Things You Need To Consider Before Doing Any Marketing
What do you want to earn in a week ?
How many clients do you need to earn that in a week?
How much do you need to bring in to cover all outgoings, such as insurance, products, rents, rates, telephone, marketing; branding, business cards, leaflets, website, facebook ad’s, directory listings…?
How much money do you think you will need to invest in marketing to build up that amount of clients?
Now this is a hard figure to know exactly for many reasons, but most business seriously under estimate this. It can depends on so many factors e.g. type of service you offer, if your industry is saturated or not, location, what you charge, your experience, your expertise….
But many businesses target market is only approx 1- 3% of their readers, viewers and/or subscribers EVEN IF you are launching your product in front of the right target audience; clients who want and need your product, so in this case that would be 3 potential sales from 100 of the right potential clients.
But in the holistic and spiritual industry it is more likely 0.1 to 1% of potential sales, that means you need to promote to at least 1000 people for between 1-10 sales and its not going to be effective if you keep trying to sell to the same 1000 people or if half the people your advertising to are friends, family, other therapists who are not your target market. This is one of the biggest problems when people only use free promotion tools especially only free advertising on facebook because you are not focusing on the right amount of targeted audiences. Paid facebook adverts are definitely a different ball game; as you can tailor your adverts specifically to specific sectors such as sex, age, interests, language, location….
So the most cost effective and efficient way to market to the right clients is target marketing, if you don’t know who your target market you will more than likely waste a lot of time, energy and resources promoting to the wrong people. Would you like some tips on how to work out more of your right clients than wrong clients with a full action plan how to market your holistic business online?