Edmonton Business Coach | The Three Legged Marketing Stool
Welcome back to Inspired Method’s Edmonton business coach YouTube channel. Today we’re going to be talking about the three-legged marketing stool.
My name is Karen, and this is my husband, Trevor, and today we’re going to share a quote from Brian Tracy. Keep your pipeline full. Be prospecting continuously, always have more people to see than you have time to see them.
What a great problem to have. I think that would be thing great problem to have for any business. Yes, because then you never have to worry about where the next customer is coming from because you have a full pipeline, a full basket of people at the top too. Yup.
So coming from CD insights, they reviewed essays from failed entrepreneurs. Most of the entrepreneurs listed multiple reasons for failure. 42% of entrepreneurs who failed report, no market for their services or product as one of the reasons for failure. 29% of entrepreneurs who failed to report running out of cash as one of the reasons for failure and 23% of entrepreneurs who failed, reported not having the right team as one of the reasons for failure.
These were the three most common reasons recorded. Wow. So the Edmonton business coach story we have today for you guys, because of the inability to attract enough customers is the number one reason that entrepreneurs haven’t reported as to why they fail. Having a three pronged marketing stool is important for every business to have. Okay. So what are some questions that people might have about this topic?
Well, Edmonton business coach, probably the most logical question is where do you start when determining your own three-legged marketing stool?
Well, the biggest place where the first place that I would start is who is my ideal and likely buyer or my customer Avatar? Who are they? Where do they congregate? Where am I going to reach them? Am I going to reach them, manage treadmill, trade magazine? Am I going to reach them online? Am I going to reach them through a blog? Will I reach them through Facebook?
Where are they, where do they hang out? Maybe they just hang out in their car and I can reach them best through either radio or billboard advertising. But typically number one place we start is with Google, right? The number one, we have to have that and in there at least for one, but that’s, that’s where I’m sorry, is knowing who your customer is and matching up your product or service, both with your ideal and likely customer. Okay.
So why three marketing methods and not one or two, Edmonton business coach?
Well it just gives you more stability. You know, just like the Brian Tracy quote said, keep your pipeline full by prospecting continuously. Okay. So continuously means you might find your congregation in one spot but they could be also in another spot. So you have to have your message in front of them at least seven times before they acknowledge that there is a message being put out to them because we are just kind of blind to a lot of advertising and marketing that’s out there.
So we need to be reminded more than one time about a certain company or a product or a special that you’ve gotten. Maybe one time you hit them and you know they’re interested in that offer. But because we’re busy with our lives, are busy with, you know, kids in school and work and other a million other things that come at us on a daily basis, we don’t hear about it again for another week or two. Then the likelihood of us actually following through and committing to purchasing or learning more about a particular business service product or whatever, um, that likely it goes down. So we need to have more than one stream of reaching them. Does that make sense? Yep. Yeah. Yeah.
Edmonton business coach, what is one part of the three legged marketing stool that is a must for almost any business?
Well, number one thing that we always have to have is some kind of a digital marketing presence and we like to make sure that we are taking care of things on the Google home front.
So making sure that your SEO is good. And then number two, we’re using search engine, like pay per click advertising and retargeting. So those are including all those into one part of the stool. So using those things in order toget more visibility and your ads out in front of the same person more than once. So you can split it into two. But I consider that one. So SEO and then your Google advertising as, as the other one. Okay.
Does the type of marketing vary between or can you just apply the same three to every business?
It would be nice. It would make my job a lot simpler as an Edmonton business coach if you could just do the same thing for every client. Um, there are certain things, like you said, the Google and the retargeting thing that we do a Google my business that that part you can use for every business.
But the other things, because every business is different. Like if you are a, uh, business to consumer type of a business. So like a restaurant or a storefront or retail or something, there’s different marketing initiatives that you have to put into place in order to win.
There you can help with a, so you can augment with some online advertising through missing, maybe Facebook, Instagram, other things like that. But then there is still print advertising that is important. Um, it could be even your storefront, your storefront can be used as an advertising meeting can be part of your three legged marketing stool. You can have a sign out front, or if you have a display window that about your no brainer offer to your ideal and likely buyer that will bring in, draw them into the store. Maybe you have somebody standing out in front and they’re just handing out samples and that is part of your three legged marketing stool.
You draw more people in. And uh, for some businesses like Cinnabon or something like that, I’m thinking of them. That’s so weird. All I have to do is make cinnamon rolls as part of their three legged marketing stool. Right.
They bring the samples out to the front of the cart. It’s no problem. Yeah. Costco, right? Yes, exactly. Sample advertising, that’s part of it as well. So yeah, can’t do the same thing for every business because each one has its own needs.
Do you consider SEO part of the three legged marketing stool, Edmonton business coach?
Yes, I do. Because it’s very important that your business shows up in the top of the Google search engine results and the whole reason for showing up top of search engine and Google results is to get people to click through to your website. That’s kind of the point. So yes, it is definitely part of that system.
Besides getting people Google reviews and other digital marketing, what are some non digital ways that businesses can market themselves?
Sure. One way, well, I talk about a few of them as an Edmonton business coach. So you can have, uh, you know, people giving out samples. You can have, you can have delicious smelling a baked goods that draw people in from, from the, uh, from the aisles coming into your store. Um, you can have signage, signage outside of your business can be a part of your marketing. You can have a giant billboard, you can have a guy who’s spinning a sign selling pizzas right come into my store. That’s all part of, of marketing that does work.
Another part that isn’t as popular is picking up the phone and calling. That’s part of marketing readiness because you’re calling and you’re introducing people to your business. You’re trying to solve problems that they have and getting an appointment, right, so that’s part of the, the marketing of that is important to grow any business and yeah, there’s lots of other ways.
There’s a million different ways you can do it. There’s not only that, you can do trade show advertising, so when you’re going to a trade show, making sure that that is set up to drawing a crowd to gather leads. Then have a system to follow up on those leads. That’s all a one part of marketing that can be done for a number of businesses. That can be very, very useful, especially in the trades and anything to do with home building or anything of that nature of franchising. There’s a lot of benefit that you’d have from doing that. Okay.
What is one mistake that businesses make in a down economy?
I see it al the time as an Edmonton business coach. The mistake that they make is they don’t do enough advertising and marketing. They stop, they get afraid, they get scared and they stop spending money on advertising and marketing. That’s a huge mistake because if you are doing the same thing everybody else is doing, how are you going to win?
How are you going to stand out? I know it hurts. I know it’s a little bit fearful, but if all of your competition stops doing marketing and advertising, when things are lean, that’s when you need to put on the gas and fill the space and you need to fill the space with your name, your brand, your offer, and everything about your company so that you are the one that people are turning to. So you can take advantage of people’s fear and when, so should you ever stop marketing only when you want to go out of business.
If you want to stop your business, then you should stop advertising and marketing immediately. Don’t spend another dollar and then you don’t have to worry about servicing any more customers saying your money, you’re gonna need it. And the only way, only way you’re going to double your money is by folding it in half and putting it in here. That’s the old way. A little bit of humor thrown Andy, but it’s true. You, you never can stop because that momentum is lost. And now it gets like [inaudible]. Thanks for joining us here on Youtube where we are the Edmonton business coach in Edmonton, and today we’re so glad you joined us like the video. He got something good out of it. And don’t forget to subscribe to the channel and we’ll see you on the next video.