Marketing is a waste of money

I believe that marketing can be a waste of money. Let me explain why I think this.

I see the following in most businesses I work with. You pay A LOT of money out on marketing. You pull in warm prospects from these efforts. These prospects are interested in working with you. Then in the room with you/your team, for some reason the prospects aren't converting into paying clients. And the knee-jerk reaction is to put more money into the marketing.

No matter how much money you put into marketing, if your people don’t have the CONNECTION skills – you won’t convert the prospects into clients. It is that simple. 

Your people in this instant are your weak point. Not your marketing.

To maximise your marketing budget, invest in personal development for you and your people.

If not you are leaving money on the table.

How do I know this?

CONNECTION brings sales. Not your marketing.

What is really going on here? Your thoughts are running the show. I am not worthy, I am not good enough, skilled enough, old enough to have the experience, I am too X, I am not Y, I can't do Z. I'm not an expert. What value can I add? You get the idea.... Your thoughts are a barrier between you and the prospect in front of you.

I worked it out with a client the other day. He pays A LOT of money on marketing. How much he pays isn't important here. Ads in papers, online, columns in newspapers, magazines, leaflet drops in the local areas of his offices, sponsorship's, stands at trade shows etc etc.

He knows each staff members conversion rate. He has 6 staff that are not hitting the average conversion rate within his practice. He knows how much each member of staff is losing each month by not converting the prospects. ￡11,250 per month.

He is losing ￡135,000 each year with 6 people not performing as highly as the rest of the team. ￡135,000. And that is not including staff costs... That is the amount that is being left on the table.

Before, he would have put more money into marketing. NOW, he puts his money into developing his team. 

His team know their stuff. They are highly trained individuals.

What they don't have is the softer skills. The inner leadership - giving the prospect the vibe they are in total control of the process/meeting. The confidence and belief in themselves.The consistency and focus to deliver time and time again. Stepping into their OWN style and rhythm - not mirroring someone else's. And there are many other things at play here....

I am talking about the things that build trust, empathy and sincere connections in the first few seconds of meeting you.

When you work on yourself, sales and profits increase dramatically. I have seen it time and time again.

With the client I mentioned above, he offered 6 members of his team a 4 month personal development programme with me. Speaking to each member of the team individually twice a month for an hour, we explored what the beliefs and conditioning were that were holding them back.

The result? Each of the 6 people have increased their conversion rate by at least 25%. That means a minimum additional income for the business of ￡3,000 per month, or ￡36,000 per year.

Now my client has made this a 4 month programme as part of the induction process for all new members of his team. He trains them on the technical aspects of the job. I work with them on personal development - to clear the decks of all the conditioning, beliefs, fears and anxieties they have. After all, this is what is stopping them from performing at their very best...

He is also rolling it out to the rest of his existing team AND engaging in an intense transformational leadership programme with me. As a leader, you have to practice what you preach...

But listen, this one client isn't on his own.

I am getting phone calls and messages every day from business owners that are responsible for their own sales and marketing.

I am getting calls from business owners that employ a team. A team that know their stuff but are struggling to convert and connect with their prospects and customers.

I am getting calls from leaders of organisations that want to increase their bottom line.

Accountancy Practices, Law Firms, Financial Services and HR consultants are calling me more and more to work with their teams. To gain awareness of themselves, to develop the softer skills and work on their connection skills.

Their ultimate aim is to increase sales and profits.

If you want to increase your sales and profits, before reaching in your pocket to do more marketing, consider personal development - for you and your team.

I would love to hear your thoughts on this approach. Please leave a comment and let me know what you think.

And when you have a minute, ask yourself these two questions:

1. How much money are you leaving on the table?

2. Do you and your team have the connection skills to be fully present and engage with prospects? If not, what can you do about that?

Thanks for reading.

Gina

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About Gina Battye

Described as "Britain's equivalent to Oprah Winfrey", Gina Battye is one of the world's hottest rising stars.

Gina is the creator of Soul Quest? & The Soul Work, is an internationally sought after & award-winning author, coach & speaker, and the leading LGBTQ voice in the self-help world.

Soul Quest? is a 6 month experiential self-discovery programme for women leaders who feel unfulfilled and want more meaning and purpose in their life.

Gina leads you through The Soul Work: powerful strategies to break down your old conditioning & beliefs AND from that space guides you to find the meaning and fulfilment you are looking for.

For more about Gina's Soul Quest? visit https://ginabattye.com/soul-quest/