More Clients, More Money, when Times Get Tough–Even Get More The Tougher It Gets
One of the things I show my clients is how to always be in control of the number of clients you acquire, a steady flow no matter what happens, how bad things are.
However, most coaches/consultants don’t even have a game plan for how many clients they acquire this week or month, so they are “at the mercy of whatever happens.”
So let’s review
- How to design how to get X number of clients a dollars every week/month, and
- How we can tune that up even further in tough times, so that you actually can
- Get MORE clients in bad times.
Let’s take a look at the “marketing formula”. It shows you how to be in control at all times, and even how to design a system that ALWAYS delivers the number of new clients you want for the income you want.
Let’s say that you close 30% of all potential clients you talk to, and you want 10 clients that each pay $1,000 a month, $12,000 a year, or $120,000 a year for all ten of them. That’s your sales success ratio. This tells you that you need to have 10/30% = 300 leads in a year’s time, right? (My goal for my clients is to get 30% upwards to over 50%. So where are you now, and how many times more clients would that mean to you, and dollars?).
One of the targets I help my clients reach is a 10% marketing message response rate. Then with the marketing formula above,
(Number of people that see your marketing message) x 10% = 300 leads
Number of people that need to see your marketing message = 3,000 in a year
Or about 250 a month
Now we KNOW how many people to reach out to with our marketing monthly.
By the way, be sure to check out the section on how to get your marketing message to convert the 10%, or come to the video course on coach/consulting marketing. Most coaches/consultants start out getting about 0.1% conversion rate, and when they get through this program are somewhere near, or even higher than 10%. From 0.1% to 10% is 100 times more clients easier, and 100 times more income easier. What would that mean to you to get 100 times more than you have now.
I’ve had some hit 20% using a special strategy that I’ll show you. But no matter what your current marketing message conversion rate is, you can apply this formula to know how much marketing to get out there, or how many people you MUST have coming to your website or even to a workshop you do locally or online.
So now you KNOW how to be in control in good times. But what happens in bad times?
What I find is that no matter what your current marketing message may be in good times, when the economy gets really bad, you will quickly discover that some of your clients consider spending money even on something that can grow their business, or their lives, as a luxury that might get cut out. (Later we’ll discuss why that is, and how to avoid that. But for now, let’s continue this thought if that is the type of client you have now). In any case, it is somewhat expected that in really bad economic times that whatever your current marketing message conversion rate is, in bad times it’ll drop around 50% from where it started.
So, it is simple. Go back to the marketing formula and run it again with a 5% conversion rate, and it will tell you that you now have to reach out to 2 times as many as before. For a 5% conversion rate you’ll have to reach out to 500 a month. Yes, it frequently means spending more on marketing, but if the cost to acquire a client is reasonable, and it usually will be, then simply get out there and do 2 times as much marketing and next month you will still have the same number of clients steadily flowing through your door.
It really amazes me to see businesses go “Oh me, oh my” and cut back on anything that costs, which is usually marketing first. As long as your marketing is working, delivering clients at a cost to acquire a client that is profitable, then you should always turn it up and get more clients even in bad times. This way you are NEVER at the mercy of anything.
But Why Not Change Your Marketing Message
I mentioned earlier that, in some cases, certain clients will cut back in bad times, which means they may stop spending on even things that generate more income in those tough times.
And one thing we’ll talk about when working together is identifying your IDEAL CLIENT. Wouldn’t you like to have an ideal client who would NEVER cut back even in tough times, and actually would be the type that reach out even harder when times get tough?
So, that means that if, right at first when you go after an Ideal client, that is one of your criteria, then you will likely never have to worry about your marketing conversion rate dropping in bad times, and you’ll actually have current, and past clients begging to come back for more when they need more due to a bad economy.
One way of doing that is not only identifying who that ideal client is, for me, the higher the success level, and the higher the income, the more likely they are the type of client who actually spends money to get ahead, while low income ones start cutting when anything gets tough, or never hire in the first place.
But let’s talk about another way, and that is what you say in your marketing message.
A few of the rules we’ll talk about in working together in coaching, in my video course, books, etc. is that the marketing message . . . that works . . . promises or implies a SPECIFIC RESULT and a HUGE VALUE (how much, how big, how fast).
So, for a decent marketing message, if you have been saying something like, “I am a coach” that talks about who you are, and doesn’t talk about a result, nor how valuable that result will be. Something like, “Business Coach — How to Make Another $100K in 3 months”.
And although I could do that even in bad times, what do you think happens if our marketing message calls out that we can do that in these bad times. That specifically tells them, come get it. You see, they originally believed that when times get tough, even you coach wouldn’t be able to help them, but now that you’ve specifically called out “those struggling right now”, and “that this specific result is delivered right now in bad times” they will come looking for you.
Something like, “Business Coaches Struggling with the Economy — How to Make Another $100K in 3 months No Matter How Bad the Economy”. or how about one that says you could make even more when times are tough. Hmm. So how do you suppose you could do that? Well, by making sure that your marketing message lets them know that.
Actually, when you use the marketing message to help them get improved results, pay attention to the “how many get to see your marketing message”, because that is an unlimited number. That is up to you to how many you send out. So, as long as your marketing message converts at a cost to acquire a client that works for you, you can have as many clients as you’d ever want and in whatever economy.
And what happens if you indicate that you actually can increase their results many times more when times are tougher?
Of course, I’m not in any way suggesting that you hype up your results to something you cannot deliver. Your marketing message MUST be honest, but the more specific about the result, the clearer they can actually see that result, and the bigger the value the more they will literally fight to get your available time slots, assuming there are any.
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