I had an interesting conversation with a potential client last week. It went like this, “hiring you is going to be an expense for my business, so I need to ensure a return on investment, can you tell me how much money I’m going to make after having you in my team for one month?”
So how did I tackle this question?
I went on to explain how I would approach my first month with a new client
- Learn about the product and services of the business
- Find out what they have tried in the past, what’s work, what hasn’t work
- Find out about any current marketing projects or activities, gain metrics on this activity
- Research the industry, find out about the competition, the market
- Set up systems that would be required, like CRM, email management, social media, website
- Plan and budget what activity we would do going forward
At this point, I had no idea how many days or hours per week the client was requesting, so therefore how long this preparation work would take.
So in the first month, there may be little immediate return on investment but it was a necessary activity in order to get long term return on investment.
I don’t think this was the answer the client was looking for, I think they wanted me to tell them how many $1000’s of dollars of product they would sell after one month of marketing.
This got me thinking, I wonder how many potential clients and businesses out there really understand the role of marketing? Stay tuned, more information about how marketing works and how I would approach various marketing tasks within a business.
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