Marketing Rx: Is Yours Sailing or Ailing?
It’s the end of the year and time to access the health of your business—-has it grown and flourished or is it dangerously close to flat lining? Has the number of clients and commissions been increasing steadily or have they been erratic and unpredictable?
Looking over your chart of marketing activities and the corresponding revenue generated by them is a critical step in determining the viability of your business in the coming year. Is a complete overhaul needed or simply some fine-tuning? Your ‘prescription for success’ can be as simple as asking yourself the following questions and taking the steps to remedy any of your business ailments.
Many agents tend to fall into the blame game—it’s not me, it’s:
→ the overall economy
→ our local market is in a slump
→ unpredictable buyers
→ sellers who want to undercut commissions
→ competition from other agents
→ the cost of marketing and promotion
→ the ‘doom and gloom’ proliferated in the news
→ because the bubble has finally burst
→ bad luck
Stop moaning and start moving! Identify the real symptoms by asking yourself the following questions:
→ How am I differentiating myself from the competition?
→ Am I implementing a marketing activity every day (mail out, phone calls, open house, networking/leads group meeting, etc?)
→ Do I ask the right questions?
→ Am I working with the right clients?
→ Have I clearly defined who my ‘choice client is?
→ Am I positioning myself as the ‘ultimate resource’ for existing and potential clients?
→ Do I ask for referrals?
→ Am I letting every one in my sphere of influence know what I do and who my ‘choice client’ is?
→ How am I managing my time—efficiently and effectively?
How many of the above warning signs resonated with you? The good news is that the road to recovery starts with a clear game plan which identifies goals and timelines.
List three of your top sales and marketing challenges and start charting your progress on a daily basis. Research the internet, read books, attend seminars and get active! Network with people who could be a ‘choice client’ or get you in front of one.
One of the best prescriptions for improving the health of any business is to find a mentor—a colleague, a coach—someone you admire and with whom you feel comfortable and ask for their advice. A mentor is committed to helping you grow and learn by opening sharing their own experiences and successes. Look around you—who in your life do you look up to? It may be another agent, a friend or someone in a completely different business.
Ask to have lunch or even a phone conversation with them. You’ll be surprised at the energy this will bring you—as well as new ideas and renewed focus.
Remember, the health of your business like your personal health happens by choice, not chance. Get it in shape by paying attention to the marketing activities that do and don’t work and taking responsibility for making the necessary changes that need to be made. Make your 2008 marketing check up an ‘off the chart’ experience!
Written by Sandy Dixon, Interior Arrangements, Inc.
