How Much Marketing Do You Need To Get Clients
- Engagement – How many people will engage with your marketing effort?
- Conversion – How many people that engaged with your marketing will convert to the next step?
- Close – How many people that converted to the desired action hired you to do work?
In general, these three steps are the path that a potential client will take when presented with marketing. Sometimes, it’s more of a two step process where engagement and conversion are combined as a single step before closing.
Engagement – Your marketing effort could be brochures, business cards, social media advertising, etc. The engagement we talk about refers to how many people will pay attention to what you are presenting. If you hand out 100 brochures, how many people will actually read it? If you advertise on social media, how many people will see it in their feed, and take the time to look at it. That’s what we consider engagement. It is important to think about this when choosing your marketing avenue or avenues. Many people have the “Magical Marketing” approach, and think everyone will see their efforts, pay attention, and hire them. Sadly, it doesn’t work that way. It’s helpful to predict how many people will engage with your specific marketing effort. Some efforts might engage less than a percent, while others will do much better. This can really help determine the best bang for your buck.
Conversion – Not everyone that engages with your marketing effort will convert to the desired action. Remember, we market for a specific purpose. It could be to get a potential client to call you, or visit your website, or to view a special offer. There is a desired action we want from our marketing effort. Only some of the people that engage with your marketing will convert to the desired action.
Close – At the point of the sale, the potential client will hire you, or they won’t. Not everyone will hire you even if they converted to the desired action. Your percentage of closing can depend on a lot of things including pricing, your services, your experience, etc. If you are good at talking to potential clients, and selling them on your products and services, your close rate will probably be pretty high. If you’re not great at selling, or your prices aren’t in line with the potential clients budget, you might not close as many sales.
Watch the video provided, and use the spreadsheet to run some scenarios. This can be eye opening and it should be helpful to determine what marketing avenues you want to use, and how much marketing effort it’s going to take to get the clients you need. You may find that passing out 100 promotional pens might not be the best use of your time and money if you get fractional engagement and conversion, even if you are a closing machine.