Marketing for Consultants

Transcription

1 Marketing for Consultants Presented By: Dr Lisa Lang President, Science of Business TOCICO Chairman of the Board Date: June 8 11,

2 What is Marketing? Marketing is connecting with your target market and showing them you have the product or service that solves their problem or delivers better outcomes, explaining it to them where they can be found and helping them to buy it. 2

3 5 Major Marketing Mistakes 1. Not selecting a target market. 2. Not understanding what you are selling. 3. Doing nothing to generate leads. 4. Using push marketing. 5. Not measuring the right things, or at all. 3

4 THE Major Marketing Mistake 1. Not selecting a target market. Selecting a target market more than doubled my bottom line. 4

5 THE Major Marketing Mistake Why do we resist selecting a target market? xxxx 5

6 THE Major Marketing Mistake Don t select a target market. If I focus on only a small group of people, won t I miss out? I can help a lot of different types of companies in a lot of different industries. I don t like to be labeled! I want to maximize my sales. I have only just started, and I don t really know what I want or what I am good at! If I can't make a sale now how will I ever close business by marketing to fewer people? 6

7 THE Major Marketing Mistake Profits are too low. Sales are too low. I don t have the deep experience in any industry that prospects think I need. Many potential customers don t GET that I can help them. The customers I do get are from different industries. My marketing materials cover the diverse range of the things I can do. Don t select a target market. I can help a lot of different types of companies in a lot of different industries. I want to maximize my sales. 7

8 #1 Not selecting a target market Not selecting a target market in marketing is like not cutting WIP in operations. 8

9 #1 Not selecting a target market The TOC Buy-In process is missing layer 0 for marketing. It s very difficult to gain buy-in from an unknown, un-described, entity. If your target market is not specific enough, they won t relate. The more specific and targeted your market, the more you can talk directly to them and in their language. 9

10 #1 Not selecting a target market Your target market is the people you want to sell to along with the products/services you sell. People with specific needs and the specific stuff they need equal a target market. 10

11 Selecting a Target Market Example: 1. Health Expert 2. Weight Loss Expert 3. Fat Loss Expert 4. Belly Fat Loss Expert 5. Belly Fat Loss Expert for Men

12 Selecting a Target Market Example: 1. General Practitioner 2. Internal Medicine 3. Surgeon 4. Brain Surgery 5. Brain Surgery on Tumors

13 Selecting a Target Market Example: 1. Business Consultant 2. Theory of Constraints (TOC) Consultant 3. TOC Consultant on Project Management 4. TOC Consultant on Project Management for Integrators 5. TOC Consultant on Project Management for Integrators of Security Systems

14 Selecting a Target Market Example: 1. Marketing Consultant 2. Marketing Consultant to Consultants 3. Marketing Consultant to TOC Consultants 4. Marketing Consultant to TOC CCPM Consultants 5. Marketing Consultant to TOC CCPM Consultants in U.S

15 Selecting a target market Consider past and present clients, geography, geodemographic, industry, and affinity. Where do you make the most Throughput for the least amount of your capacity? What do your customers compliment you on? (What do they know you for?) What part of your business do you have the most expertise in? What's the group of people who are most likely to benefit from what you have to offer (and are willing to pay for it)? What group of people suffer from not having your product/service? Which target market can you or think you can create a Mafia Offer for? Check out the competition for any markets you re considering. 15

16 Exercise 1 - What is your target market? The only watch out is making sure that your target market is big enough. For most, this is a non-issue. 16

17 Eli Goldratt said Segment your markets, not your resources. Insights 2003 Eliyahu M Goldratt 17

18 Exercise 2 Describe your avatar Who is the person that you are going to market to? What position in their company? Demographics? How old? male/female? What s your avatar s name? Where are they located? What is their education, political views, hobbies? What do they read, listen to, and hang out? What conferences do they go to? Some questions may be difficult to answer but do the best you can. You want to have a clear picture of your ideal customer. 18

19 Exercise 2 Describe your avatar 19 Example: Marketing Consultant to TOC CCPM Consultants Avatar: What position in their company? Owner of Consulting Company Demographics? How old? male/female? Male 40 years old What s your avatar s name? Jim Where are they located? US What is their education, political views, hobbies? At least BS, conservative What do they read, listen to, and hang out? TOC, Lean, management, LinkedIn, drawn to common sense, listens to talk radio What conferences do they go to? TOCICO

20 Exercise 2 Describe your avatar Avatar: What position in their company Demographics? How old? male/female? What s your avatar s name? Where are they located? What is their education, political views, hobbies? What do they read, listen to, and hang out? What conferences do they go to? 20

21 Exercise 3 Biggest Challenges/Problems Now that you have a target market and avatar, list the biggest challenges/problems (UDEs) that your prospects have related to your product or service: Example: Marketing Consultant to TOC CCPM Consultants Feast and famine cycles with work. Their prospects don t get that they can help. Their prospects don t seem to understand TOC or how it will work for them. Closing prospects can take a long time. They don t have enough case studies/success stories/references. 21

22 Exercise 3 Biggest Challenges/Problems Now that you have a target market and avatar, list the biggest challenges/problems (UDEs) that your prospects have related to your product or service: NOTE: If the problems/challenges you identify are NOT a big deal to your target market something is wrong. 22

23 Exercise 3 Biggest Challenges/Problems Understanding these challenges will help you to craft your MESSAGE. Marketing = Market + Message + Media Let s run a newspaper ad! Let s send an ! PROBLEM: Most people start here. Let s put a coupon in the flyer! 23

24 Exercise 3: Knowing your market Knowing what your market really wants and who they really are is very important. Take each of those problems/challenges and logically connect them to a negative business outcome in their business. This will help you to create your marketing message. 24

25 Exercise 3: Knowing your market Profits are too low. Sales are too low. I don t have the deep experience in any industry that prospects think I need. Many potential customers don t GET that I can help them. The customers I do get are from different industries. My marketing materials cover the diverse range of the things I can do. Don t select a target market. I can help a lot of different types of companies in a lot of different industries. I want to maximize my sales. 25

26 Exercise 3: Knowing your market Draw your logical connections. 26

27 Knowing your market Now that you know your market this changes EVERYTHING. More targeted = Less competition. Less competition allows you to dominate and become the go to solution for that market THE expert in that space. As THE expert you ll get asked to speak, write articles, and give interviews. The more targeted, the more you can talk/write in their language, the more your PROSPECTS know you get it. It s easier to identify specific prospects. And you can easily figure out where they hang out and what marketing mediums are the best way to reach them. 27

28 Knowing your market Now that you know your market this changes EVERYTHING. You can push emotional hot buttons in your marketing because you KNOW and UNDERSTAND (maybe better than they do) their problems and challenges. It s much less costly and more profitable to market to a narrower group. Would you rather purchase s or direct mail for a really targeted group or a more general larger group? You will get more referrals because people will know exactly what you do and who to send your way. Your clients will easily be able to tell others about you and refer people to you. 28

29 Message Now it s time to construct the message to your market. Your message should concisely and clearly state what you re all about, and why they should choose. So your prospect says and responds. Hey, that s me! 29

30 Example WSJ Sports 30

31 Exercise 4: Your message What s your message? Let s start with some titles 31 Example: Marketing Consultant to TOC CCPM Consultants Stop the Consultant Feast and Famine Cycle Why Consultants have Feast Famine Cycles and How You Can Stop Them! How to Make sure that Your Prospects GET What You Do and the Impact of Your Consulting How to Make Theory of Constraints and Critical Chain Simple for Your Clients so They Hire You! How to Explain Critical Chain in 9 Minutes so Your Prospect GET it! How to Get Prospects to Ask YOU for Help What to Do When You Don t have Many Success Stories or References

32 Exercise 4: Your message What s your message? Let s start with some titles 32 Example: Marketing Consultant to TOC CCPM Consultants Stop the Consultant Feast and Famine Cycle Why Consultants have Feast Famine Cycles and How You Can Stop Them! What s the message you get from these titles? How to Make sure that Your Prospects GET What You Do and the Impact of Your Consulting How to Make Theory of Constraints and Critical Chain Simple for Your Clients so They Hire You! How to Explain Critical Chain in 9 Minutes so Your Prospect GET it! How to Get Prospects to Ask YOU for Help What to Do When You Don t have Many Success Stories or References

33 Exercise 4: Your message What s your message? Let s start with some titles 33

34 Exercise 4: Your message What s your message? 34

35 Think like your prospect! When most hunters go out to hunt, they think like hunters. When a master goes out to hunt, he thinks like a deer. To create really compelling marketing and market offers (including a Mafia Offer) you have to put yourself in your prospects/customers shoes. 35

36 Summary Market + Message + Media to your Target Market Prospect responds -- I need help! Make a offer preferably a Mafia Offer. Close more prospects. Sales and Profits Increase! 36

37 Dr Lisa Lang Dr. Lisa Lang is a renown Theory of Constraints expert and is the foremost expert in the world for applying TOC to marketing. Dr. Lisa is regularly sought out for her expertise on developing market offers that increase sales. She has been named a 2012 Trendsetter in the USA Today and a Manufacturing Champion in Business Week. She has appeared in CNBC, CBS, The Wall Street Journal, and Yahoo Finance to name a few. As the President of Science of Business, she invented the Mafia Offer Boot Camp developing over 100 Mafia Offers for fortune 100 companies and other organizations around the globe. Dr. Lisa's Mafia Offers: Dealing with a Market Constraint chapter in the Theory of Constraints Handbook reached the #1 spot on the Amazon best seller list, as did Marketing Miracles a book co-written with marketing legend Dan Kennedy. Dr. Lisa worked with Dr Goldratt, serving as the Global Marketing Director for Goldratt Consulting. She has a PhD in Engineering and is a TOCICO certified expert. She is currently Chairman of the Board for the TOCICO. 37