2 Marketing Mistakes Mr. B Will Regret

2 Marketing Mistakes

I met with an ad executive who represents one of my clients the other day.

For confidentiality I’ll call him Mr. B.

Mr. B is quite successful in his market. He earns a low six-figure income and has been working for a well known business publication for several years.

Hone in on the type of business and industry that best represents your ideal clients.

As we sat at a local restaurant for our late afternoon meeting enjoying a beer Mr. B asked me if I could send any more business his way.

I told him I’d be happy to but that he’d need to be more specific and tell me what kind of client he was looking for.

“Any kind of company will do” was his response.

Big mistake. I suggested he be more specific or I couldn’t help him.

It’s not because I didn’t want to, as I’ve written about before, to get maximum referrals you need to be specific in your request of what kinds of referrals you want.

Don’t make the other person do the work and think about everyone they know.

Hone in on the type of business and industry that best represents your ideal consulting clients.

Mr. B’s second mistake came a few minutes later in the conversation.

We were talking about the ad sales industry and how online ad sales were growing.

The online sales portion was making up more and more of Mr. B’s monthly sales commission.

If you’re hungrier and willing to work harder and take some calculated risks along the way you can reach levels of success in your market that others only dream of.

But Mr. B told me companies were having a hard time increasing their ad budgets to accommodate online advertisements in addition to their current print campaigns.

I suggested to Mr. B that he hold a lunch and learn for 20 of his best clients that would be ideal for online advertising.

Mr. B said his company wouldn’t go for that. They wouldn’t want to spend the extra money on such an activity.

“Why?” I asked.

“Because they’re old school and are very conservative. They’ll pick up the tab for a meeting like we’re having now, but they won’t fund a lunch and learn. They just don’t do that.” said Mr B.

“Fine, why can’t you do it?” I asked.

Mr B looked surprised. He went on to tell me that he wasn’t going to spend money out of his pocket for something like this.

“You’re missing a great opportunity to get new business” I told him. All he would have to do is spend $200-$500 for the lunch time event on sandwiches and event space.

He could bring in an online marketing consultant to talk to his audience about the benefits of online advertising or share some case studies.

Mr B was still having doubts.

“How much is the average client’s online ad spend?”

“What’s your commission from each of those?”

These two questions got Mr. B thinking. Even if he got 10% of his clients to start online advertising he’d make a very positive return on his investment.

And I’d be surprised if he didn’t convert 30-50% of his clients into online ad sales.

Mr B was now seeing the opportunity. But he still had hesitations. “You know Michael, this sounds really good, but it’d be a lot of work to organize it and I don’t know about funding it myself…” he said.

Mr. B is a smart guy. He’s successful. But he’s not hungry enough.

When and IF he realizes that getting more business is important to him he’ll see that he needs to take action.

There are thousands of Mr. B’s out there. And his weakness is your opportunity.

If you’re hungrier and willing to work harder and take some calculated risks along the way you can reach levels of success in your market that others only dream of.

I’m confident you can and if you’d like some guidance and help check out the Consulting Success System 2.0.

  • Nathan

    Good wake up call for me. Thank you.,