Not to long ago I was talking with a coaching client about her business. We were discussing the various elements she needs in order to convert those fresh, qualified leads. She sounded a bit down and so we stopped talking about business and just started talking about life. She was a little down because one of her clients has been unable to pay her, which leaves her in a financial bind. I shared with her this is the reason why she needs to always have a marketing strategy in place.
I know and understand the purpose of having a good marketing plan and cycle because I can definitely relate to needing money and having to wait for payment in order to get something done. It’s a crazy cycle we put ourselves in because we are conditioned to work this way. Here is the cycle:
- You are in a bind (or maybe just looking for some cash to do something) and you need to make some money to pay a bill or something
- You create and send promotional materials hoping to land a client
- It worked and you landed a client. The client makes first payment, now your bills are paid for the moment.
- You turn off your marketing cycle and focus solely on this new client.
- Client is unable to make the next payment, or decided to no longer work with you and you are now in need because your bills are coming soon.
Does this looks familiar to you? This cycle totally sucks because by the time you get down to the bottom, you are stressed and frustrated and possibly feeling as if you shouldn’t be in business.
This is exactly how I was running my business. I didn’t know any better and I had a full-time job, so this was just a way to make extra income. But I had plans for that extra income money.
Are You Marketing For The Overflow?
But this model is totally flawed and let me share with you why.
First and foremost you cannot build a business around one client, or even two or three clients (because I thought I was doing something when I had 3 clients, lol). If one of your clients leave you for any random reason that changes the cash flow for you business, how business expenses get paid and how you pay yourself. Also, by doing this it is very clear that you did not create a plan for your business. You did not figure out how much money you want to make (that covers, expenses, and pays you), how many people you need signed up for that product or service to make that money, and how many people you need to convert.
The final reason I will share with you is, the turning off of your marketing cycle. Now there may be certain components that you turn off and on depending on your plans, but there are some things that you should do on a regular basis. It may not generate clients right then and there, but it keeps those that did not purchase with you today warm so that when they are ready you are the first person they think of. This is what I call Marketing for the overflow.
Let’s think about that!
We understand the concept of more than enough, and overflow, but we don’t really practice it in our life or business. I know I didn’t at want point. Once we get what we need we are done. Everything is good. Life is great, and we are happy until the next round of lack comes along which will happen let’s say very close to your next payday.
In order to have overflow and more than enough, you must keep doing what you did to get what you needed. Stopping just keeps you in that cycle of living pay check to pay check. It prevents you from creating and growing your savings account, paying down bills, going on vacations, giving yourself a raise, which basically means it prevents you from having that freedom and security you are looking for. Isn’t that the reason why you decided to be in business for yourself?
So what does overflow marketing looks like?
It looks like a well thought out plan. Something rinse and repeatable. You know your sales goal for the month, or quarter, you know your conversion rate, you know how many people you need to get into your funnel in order to achieve that goal. Once that goal is reached your specific marketing may be turned off, but your general marketing strategies are still in effect and going strong.
Remember you should always be in a marketing mode. In order to make a sale, you must market, then close that deal. And if you closed enough clients to get what you needed, then you can definitely continue and close more for the overflow.
It’s your turn to rock! If you are bold share with us whether or not you are marketing for the overflow. What do you think is preventing you from continuously marketing.