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Marketing from the Inside Out!

Ready to move up a gear with your marketing?  This simple shift in mind-set will increase your marketing ROI, guaranteed!

People often ask me “what’s the one thing that I can do quickly and easily to get a better result from my marketing”.

Not surprisingly, everyone’s looking for that elusive silver bullet to transform their marketing output.  Well the good news guys, is that there IS a fundamental principle that will transform your marketing results, and what’s most surprising is that so few business people are aware of it. 

I believe that business should be like any other professional vocation; you need to know your subject and continually update and expand your knowledge; and you probably feel the same – that’s why you’re reading this blog!  Also see the PUSH Marketing Academy if you’re serious about getting better results.

So what’s this amazing principle and how does it work? 

Let me describe a scenario that many business owners and managers would recognise.  The vast majority of people I meet in business have a view of marketing that looks not too dissimilar to gambling.  They expect to pay a price for the risk they take in trying to marketing their offering, be it products or services.  They accept, without question, that they’re going to throw money at marketing and hope that they get a result that makes a profit.  This is known as ‘spray and pray’.  I’ve even met people who tell me that as long as they don’t lose money on their marketing spend they’ll be happy… that’s just crazy, marketing is all about creating a profit!

Marketing is actually very simple; it’s not an exact science and you’ll need to accept that some guesswork is required.  However, there’s a fundamental principle you need to know before you commit to spending anything on your marketing plan and this is it:

Learn how to BUY more customers at a PROFIT

Most people spend their budget and hope that they’ll get enough back to make it worthwhile.  This is a totally flawed approach and if it’s one you’re using now, I implore you to seriously consider what I’m about to tell you next.

Take a long hard look at your figures and understand the relationship between the Average Lifetime Customer Value in your business and your accepted/defined Cost of Acquisition.  The relationship between these two will tell you how much you are able to spend to BUY each new customer at a profit.  So start with what your figures tell you and they will guide your marketing strategy.

Understanding how Average Lifetime Customer value is calculated is essential to every business – Here’s a tool produced by Harvard Business School to explain it.

I’ve described this as a form of Inside-Out thinking for marketing.  Many business owners/managers are looking outside for the answer, they want to use resources to go out and hunt down enough customers to keep the business alive.  Instead, they should understand what their business is able and willing to spend to buy each new customer.  This can be applied to any business, it’s not industry specific and a completely scaleable concept.

When you know the relationship between the real value of each customer (by looking at your costs and margins) and have decided what you feel is worth paying to buy them (known as the Cost of Acquisition) you will have a defined budget that you can work within and always ensure your marketing is profitable.  And here’s your starter clue… aim for a CoA of 10-15%.

Applying this sort of mind-set to the way you view your marketing will transform your overall strategy.  You’ll understand what you need to do to acquire more sales and build customer relationships that support and grow your business.  You’ll feel in more control and above all you will feel far more confident in your marketing.

If you want to know more about this principle read more on my blog at www.nialadams.com and look out for the next edition of The Marketing Index about to be released later this month.

Nial Adams

About the Author

Nial Adams started his first formal enterprise at the age of 19 (a specialist training consultancy) and went on to work in Eastern Europe, the United States as well as in the UK.

After returning to live in the UK and a period in corporate life Nial returned to his passion for consultancy and later became Development Director for the Better Business Institute. During this time he studied under one of the UK’s leading entrepreneur mentors and marketing specialists.

Nial’s experience also includes a total of eight years in the UK franchise sector and for the past 10 years he’s be working with SME’s helping them to adopt marketing strategies and tactics to get increased results. Nial is recognised as a powerful public speaker and has shared his passion through seminars and presentations nationally and overseas.

In 2003 Nial formed the Antidote Network, which has become the fastest growing business network in Norfolk, and now boasts over 1000 subscribers.

Today Nial is a Co-founder of PUSH Marketing Partners and acclaimed as a Business Growth Specialist focusing on effective marketing for SMEs.

Living again in Norfolk, Nial’s interests include music (playing and listening), classic motorsport and enjoying the best life has to offer. A 4th Dan Black Belt in Hapkido, Nial is also a qualified instructor to the Armed Forces. He has two daughters, Victoria and Ellie.

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A Cross-Cultural Theory of Voter Behavior $69.95 Practical knowledge from the rapidly-emerging field of political marketingAs in large corporations and small companies, the political systems in democratic countries are based on free market principles. The rapid development of democracy and political freedoms has created new and sophisticated psychology-based methods of influencing the way voters choose. A Cross-Cultural Theory of Voter Behavior uses advanced empirical testing to determine whether the behavior of voters in established and emerging democracies around the world is predictable. The results of the testing suggest the theory is a ground-breaking cross-cultural model with theoretical and strategic global implications. This unique book examines the many facets of political marketing and its direct relationship with the voter. A comprehensive theory meticulously tested in the dynamic political waters of the U.S. and Europe, this text bridges the latest theoretical developments in the emerging and advanced democracies. A Cross-Cultural Theory of Voter Behavior offers an innovative and seldom seen international perspective that integrates up-to-date literature in political science with advanced political marketing to provide readers with useable, unified information. In addition, the text is replete with detailed references and illustrated with a wealth of informative tables and graphics to made pertinent data accessible and easily understood. Some of the topics discussed in A Cross-Cultural Theory of Voter Behavior include: • Politics in an age of manufactured images • The decline of social cleavage voting • Partisanship and party identification • Candidate-centered politics • Political cognition • Social categorization of politicians • The role of advertising and emotion • Economic vs. political marketing • Marketing orientation in political campaigns • Traditional models of voter behavior

A Cup Of Cappuccino For The Entrepreneur’s Spirit $9.99 A Cup of Cappuccino for the Entrepreneur’s Spirit – find your passion and live the dream features entrepreneurs’ true short stories written to inspire, energize and teach the reader. The stories include adversities, challenges, triumphs, and successes experienced by the entrepreneur to help readers discover passion and basic principles they can use to live the entrepreneurial dream. Touching both the head and the heart, the stories feature entrepreneurs from ages 21 to 94 representing a diverse range of business types, sizes, and income levels. Stories are presented in a “can do” optimistic format, opened with relevant inspirational quotes, and closed with key success factors, recommended books, entrepreneurs’ websites, and editor’s notes. Featured entrepreneurs include Scott Klososky from Oklahoma, who sold his last company for $115M. Scott believes that building businesses is a noble act and that entrepreneurship has made the U.S. economy the powerhouse that it is. Evelyn Echols, an entrepreneur from Chicago recently celebrated her 94th birthday and is still involved in entrepreneurial ventures. Ms. Echols believes that this era is the perfect time for young people to consider entrepreneurship. Evelyn owned and operated Echols International Travel School for 35 years and just published her second book with Walter Cronkite writing the foreword. Particularly relevant in today’s economy, Katherine Sansone of SANSONE+ PR and Marketing firm in Oakland, California started a business because she was tired of being laid off and wanted to control her own destiny. She now represents notable clients worldwide and discusses changes she had to make in her business with personnel including using contract management rather than having employees. Tamara Dujmovic and Robert Sterpin, two successful entrepreneurs from Izola, Slovenia, Europe (the former Yugoslavia), discuss their business strategies and illustrate the possibilities of

A Guide to Search Engine Optimization, Including Its Background, Governing Rules and Principles, Methods and Key Elements $20.12 New – Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Learn more about search engine optimization and its background, virtual mechanisms, association with search engines and online marketing, notable practitioners and more. Project Webster represents a new publishing paradigm, allowing disparate content sources to be curated into cohesive, relevant, and informative books. To date, this content has been curated from W

A Guide to Search Engine Optimization, Including Its Background, Governing Rules and Principles, Methods and Key Elements $17.53 New – Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Learn more about search engine optimization and its background, virtual mechanisms, association with search engines and online marketing, notable practitioners and more. Project Webster represents a new publishing paradigm, allowing disparate content sources to be curated into cohesive, relevant, and informative books. To date, this content has been curated from W