I'm a big fan of professional profiling and insights assessments. I did my first one in 2006 and another about 18 months ago. The result of my most recent assessment is a 62 page, independent insights report that tells me, warts and all, my strengths, weaknesses, behaviours, motivators, self-perceptions, external perceptions and much more. I read this report regularly and challenge my choices based on these elements.
If you are going to be effective in business, then you need to get to know yourself and then continually evaluate where you need to delegate responsibilities, outsource work or find software solutions to help you be more effective.
For many people (myself included), letting go is hard. But the fact of the matter is that while you can control what you do yourself, your business will never grow while you are doing it all.
With the rise of technology and the right assistance it is easier than ever to develop robust systems that allows for you to harness the skills of those who are specialists in their field, while having the control measures that give you peace of mind and insight into all the important areas of your business.
So, if marketing isn't your strong point, let's look at the 7 signs that now is the time for you to get a marketing coach.
7 Signs You Should Get A Marketing Coach
1. You Don't Have A Marketing Strategy In Place
Without a marketing strategy in place (or the right execution of one) you are really just hoping for the best. Things might work, but they probably won't and if they do, you won't know how or why.
An effective marketing strategy is one that frames your vision, mission, core purpose and value proposition. A marketing coach can bring a valuable fresh set of eyes across your marketing strategy to identify key areas of improvement, or help you create one that is focussed on achieving attainable results that meet your business goals with the human and financial resources you have available.
2. You Haven't Been Able to Determine What's Working & What's Not
Many businesses take a best endeavour approach to their marketing, where they assess each marketing opportunity put forward to them on a case by case basis. The problem here is that without properly defined buyer personas, you are unlikely to know what mediums, what content and what approach will resonate with your target market. Additionally, if you just are using typical, above the line advertising methods (TV, Print, Radio) then you are going to have a real tough time measuring your Marketing ROI.
3. Your Marketing Staff Are Inexperienced & Need Guidance
Many small to medium sized businesses have employed a marketing graduate or delegated marketing responsibilities to someone with limited marketing experience or qualifications. These people need the right guidance and mentoring and it is not uncommon for them to shy away from asking their employer for it as they worry it represents an incapability to be a valued employee.
Having an experienced marketing mentor who has strong leadership and communication qualities can help them reach their potential and provide greater value in their role.
4. You Don't Know How Much To Spend On Marketing
This is the age old question and the truth is that there is no simple formula. For what it's worth, many businesses fall in the 5-10% of revenue band. Keep in mind a small, high margin service business will have a completely different need to a high volume, low margin wholesale business.
A good coach can help you establish your cost of client acquisition (COCA) and customer lifetime value (CLV) and other key numbers so you can establish what budget will help you achieve some realistic goals.
5. Your Team Don't Have The Right Tools
With the right data, software applications, plan and resources, your marketing success will skyrocket. However, it's the old case of not knowing what you don't know. A marketing coach who has experience with digital technology alongside their strategic marketing capabilities will be able to plug you into the right marketing solutions.
6. Your Existing Marketing Doesn't Do Justice To The Quality Of Your Product/Service
I hear this a lot; we have a great product and our existing customers really like us, we just can't seem to attract more good customers. Quite often it is the simple case of having the wrong visual and written messaging alongside marketing in the wrong mediums, with the wrong approach.
Again, when you develop the right buyer personas you have a compass which guides all the choices you make about your marketing investments.
7. You Are Servicing The Wrong Customers
Not all revenue is good revenue. If you find your marketing is attracting the wrong customers you can get caught servicing expectations beyond your core capability, dealing with unrealistic price expectations and all manner of distractions and culture killers.
If you find yourself in this position, you are faced with some difficult decisions. Keeping the wrong customer base can de-rail your vision and passion and fundamentally change the business as you see it. However, simply turning away from a large portion of your existing customer base can cause all manner of cashflow issues.
This is just another areas where the right assistance can get your marketing in shape.
If you're ready to get a Marketing Coach for your business, then check out our plans and pricing here.
If you want the details of an accredited analyst who can provide you with the right professional profiling and insights assessments for you business, drop us a line and we'll be happy to send you their details.