Case Study (Part 7): What Don’t You Know About Your Marketing?
October 17, 2012
Monitoring your marketing is more than simply counting new clients and the fees that they generate.
The most critical information helps you monitor client behaviour such as frequency of engagements, loyalty and services that you don’t provide but are services that clients need and want.
Similarly, it’s important to keep an eye on what your competition is doing to attract and serve clients. Who are your competitors…how are you better than them…and how do you distinguish yourself from them?
Unfortunately, in her marketing performance assessment, Martha’s most common response to questions about clients and competitors was ‘don’t know’.
This suggests that her top business priority is serving clients. Michael Gerber refers to this role as the ‘Technician’ in his book The E Myth Revisited. It’s the coach coaching, the adviser advising, the accountant crunching numbers and so on. Obviously this work is important, but it’s only one of several areas of responsibility for self-employed professionals like Martha.
Without detailed information about the client and competitor behaviour, it’s very difficult to effectively monitor…let alone improve …our marketing.
Like many service professionals, Martha pays little if any attention to management issues such as detailed client and competitor information.
I know all about this approach…been there, done it. Until I made the shift from employment to self-employment, I never understood why my supervisors made so much fuss about those silly client reports. After all, if my clients were happy with my work, why weren’t my supervisors?
It was only when I started to channel my supervisors and scrutinize these same reports that I recognized the value of the kind of information that I had previously ignored as being insignificant.
For Martha, one marketing improvement would be to do a better job of monitoring the behaviour of client and competitors.
And speaking of monitoring these two essential behaviours, what don’t you know about your marketing?
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Complete your own marketing performance assessment.
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