If you’ve ever spent time studying what it really takes to grow a successful business, you will no doubt have come across some of the popular business growth and marketing models that have been created to help visualise and simplify the process of growth, through marketing and sales.
If you Google ‘Marketing Models’ and look at the images, you’ll find 100’s of Marketing Models to choose from, to help drive your business forward, as shown in the image above.
At Milwood, we’ve teamed up with the guys from InstallersLeads.com to create our own unique it’s called Milwood’s Marketing Matrix, and we’re very excited about it.
We’re officially launching our Matrix Cheat Sheet at the FiT Show in May, which will also come with lots of marketing case studies and training, to help your business and sales grow.
In the meantime, here’s a sneak preview and some background info as to why we created this.
“Milwood’s Marketing Matirx was created on the back of 30 yrs of business growth, product development & online marketing strategy”
The strategies contained in the matrix are responsible for driving the sales of installation firms from £Zero, through the various stages of growth, to becoming established & very successful local or national £Multi-Million concerns.
Like all popular and effective growth models, Milwood’s Marketing Matrix is based on a simple premise and highlights 3 core areas we believe can greatly benefit the owners of home improvement installations firms like you.
After working with 1000’s of businesses over the past 30 years, we have discovered that the difference between ‘Thriving Successful’ businesses and ‘Mearly Surviving’ businesses usually boils down to these 3 key areas:
1. Product s: Existing + New
2. Customers: New + Existing
3. Online Marketing + Offline
Thriving Successful Businesses Tick All 6 Boxes:
– Continually adding new products to expand their range and maximise sales potential
– Always looking to improve or upgrade their existing products, to stay ahead of the game
– Very good at communicating with their past/existing customers, in addition to…
– Generating a Flow of New Leads/Customers
– They have a Strategic Plan in place for Marketing their Products using the Internet +
– Their ‘Offline’ Local Marketing & Advertising Integrates with their Online Marketing Plan
However, on the flip-side…
Surviving Businesses Leave 3 Boxes Unticked:
– Not Regularly Expanding Product Range
– Ignoring Their Past/Existing Customers
– No Strategic ‘Online’ Marketing Plan
If you believe that your business is yet to reach it’s full potential in terms of growth, sales and profit, which is negatively impacting your life, or the lives of your family and staff… inevitably, one, two or three of the key areas listed above, maybe at play.
We’ve got you covered with Milwood’s Marketing Matrix Cheat Sheet, Case Studies & Training coming soon.
In the meantime, are you guilty of any of these?
1: Not Expanding Your Product Range
If you want to double your sales, there are only 2 ways to make that happen… just 2:
- Sell more of the products you currently sell [your EXISTING product range]
- Launch a new range of complementary products [your NEW product range]
That’s it!
Imagine your Product Sales as a rectangle, which is made up of 2 halves – one half of your Sales coming from your Existing Products and the other half of Sales coming from the New Products you launch over the next 12-36 months.
As you can see in our simple illustration, if you regularly add new products to your range, you could be doubling your sales potential. However, if you do not continue to grow your product range, you could be cutting your sales
potential in half!
2: Ignoring Your Existing (Past) Customers
Let’s assume you’ve made the decision to continually add new products to your range as part of your plan
to increase your sales over the next 12-36 months.
When selling new products (or existing products) there are only 2 types of people to sell to… just 2:
- People who have never bought from you before [your NEW customers]
- People who have bought from you in the past [your EXISTING customers]
That’s it…
Imagine your Sales to Customers as a rectangle, which is made of 2 halves – one half of your Sales coming from New Customers and the other half of your Sales coming from Existing Customers who have bought from you in the past.
In our experience, most businesses spend the majority of their marketing and advertising budget and time focused on attracting new customers.
However, if you’re ‘guilty’ of Ignoring Your Existing (Past) Customers, you could be driving 100?s of Customers to your competitors’ door. Here’s why… the 2 biggest reasons your Existing (Past) Customers will go to your Competitors for New Home Improvement Products are:
1. They feel ignored or unappreciated
2. You’re not offering them new stuff
(This also ties into our first point – if you’re not launching new products to past customers, the costly relationship you nurtured with then will die.)
If you communicate with your existing customers regularly, you could doubling your Sales potential.
However, if you only focus on ‘New Customer’ marketing and advertising, you could be cutting your sales potential in half!
If you want to double your sales next year, or in the next 3-5 years, it will be much, much easier if you regularly communicate with your Existing Customers too, as part of your marketing strategy.
So the key is to let ‘everybody’ know about your Existing & New products, as detailed in the Matrix.
BTW: In the Matrix Training we feature a Case Study showing how A- Z Installers went from ‘ignoring’ their
existing customers to ’emailing’ once a month, adding £224,000 in sales.
3: No Strategic ‘Online’ Marketing Plan
To recap, the owner of the business makes the decision to drive product development and continually launch new and updated products.
They realise that instead of focusing all of their marketing and advertising budget and energy on attracting new customers, they also invest in the valuable relationship they have already built with their current existing/past customers.
Here’s where a lot of businesses fall down…
They do not have a strategic ‘online’ marketing plan in place to communicate their product/business news, updates and offers with their target audience.
Like most successful businesses, you have probably got the basics in place? like a Website & Google My Business Page, Email Marketing Software & Social Media Pages.
You might also have spent money on Search Engine Optimisation (SEO) or Social Media Management.
Combining these things with doing a great job for local people, which also drives Sales from Word-of-Mouth Recommendations is usually enought to keep a business ticking along niceley.
However, to grow your sales by 25%, 50% or even 100% over next 12-36 months, you will need to get a lot more serious about your online marketing.
In 2019 & looking forward to 2020, it is essential that you push the Online Marketing Envelope if you want to catapult your Sales of your New & Existing Products to Existing & New Customers.
We’ve got you covered in the upcoming training as part of Milwood’s Marketing Matrix.
4 areas vital for your Online Marketing success are:
1. Websites: Yours, Googles & More
2. Bulk Email: To Leads & All Customers
3. Social Media: One Click Send to All
4. Offline: Integrated With Your Online
As you’re probably aware, over the last 10-15 years fortunes have been made by firms leveraging the Internet and Internet based tools, but if you’ve been struggling online, you’re not alone.
Here’s why… there are quite literally 1001 things you could be doing online, to drive leads and sales, so it’s no wonder that installation firms don’t know what to do online for the best.
We have teamed up with InstallersLeads.com to put together a step-by-step easy to follow roadmap for
online marketing success for your business.
Watch this space!
In the meantime, head on over to our Matrix page to request your copy of Milwood’s Marketing Matrix
Cheat Sheet as soon as it’s released and get immediate access to Marketing Tips, Advice & How-To Information you can use today.
www.MilwoodGroup.com/matrix