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Executive Business Coaches Increase Sales by Creating Balance Between Marketing and Sales Plans
| Guest post by: Leanne Hoagland-Smith |
Article Overview: To be one of the exceptional executive business coaches who earn at least $100,000 requires a strategic plan that balances the marketing and sales plans. If the goal is to increase revenue, this can be quickly achieved when coaches understand how to create and leverage this balance.
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Free Download - How to Craft an Engaging Message That Highlights What You Do to Increase Sales By Leanne Hoagland-Smith |
Executive Business Coaches Increase Sales by Creating Balance Between Marketing and Sales Plans
Recent research conducted by Stephen Fairley, author of "Getting Started in Personal and Executive Coaching" suggests...
73% of all coaches make less than $10,000 in their first year
53% of all coaches make less than $20,000 a year
30% of all coaches have never been able to find 10 paying clients
Only 9% of coaches are currently making more than $100,000 a year coaching
As an executive business coach you should be earning at least $100,000 a year provided you truly balance your marketing and sales plan. When these plans are in balance, you can quickly increase sales. Let me explain.
Your strategic plan is essentially who does what by when. To achieve the desired results, you should also have a:
1. Marketing plan that gets you in front of your prospects
2. Sales plan that delivers the dollars
These two plans have a direct one to one correspondence. Specific marketing activities will generate specific sales results or for every action there is an opposite reaction.
For example as an executive business coach, I know that for every speech I deliver, I receive one client. This has been fairly consistent for the last 2 years. Each client has an $X value. To earn $Y for the year, requires me to speak at Z# of events. ($Y projected annual income divided by $X client value determines Z# of events.) The speaking is a marketing activity where I have gained favorable attention and began to build a relationship. Securing the sale is the selling activity which may require me to discover wants and needs along with making another presentation before I gain a commitment.
What I share with my business clients is that marketing and sales are like a sister and brother or like Ying and Yang. Each marketing effort should be balanced against the projected revenue. Again, for every action there is an opposite reaction. This balance may be the number of marketing hours and any marketing costs against the projected revenue, cost of goods and hours to deliver the service Therefore is it essential that each executive business coach knows the average value per client and how that client was acquired.
The reason that almost one third of coaches fail to have more than 10 paying clients or make less than $100,000 is because they have not created a marketing plan that is in alignment with projected or desired sales results. If your goal is to increase sales, then return to your marketing plan to determine how you can acquire your target market.
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About the Author: Leanne Hoagland-Smith RSS for Leanne's articles - Visit Leanne's website Her book, Be the Red Jacket is a no-nonsense and quick read to help discover potential gaps that may be keeping you from your goal to increase sales. The forward is by Evan Carmichael of EvanCarmichael.com Remember if you think you cannot or you think you can either way you are right. (Henry Ford). Sales Coaching Tip: Change your thoughts; improve your results. Click here to visit Leanne's website   Leadership Assessment Business Building Check List Leadership Audit For Business |
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I am noticing that many of the posts in the Sales/Marketing section deal with online marketing, SEM and and SEO and Affiliates. I was wondering if it might be a good idea to separate that section into two; 1) Online Sales and Marketing; 2) Traditional Sales and Marketing
Re: Online Sales and Marketing vs Traditional
- [quote="ltrahan":31w9r2iz]Hi Evan,
I am noticing that many of the posts in the Sales/Marketing section deal with online marketing, SEM and and SEO and Affiliates. I was wondering if it might be a good idea to separate that section into two; 1) Online Sales and Marketing; 2) Traditional Sales and Marketing[/quote:31w9r2iz]
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This should keep you busy for at least a year.
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