This week I will be writing about using a Strategic Marketing Plan. A tactical marketing plan is an aggressive, measurable plan to increase your leads, improve your sales conversion rates, and increase your annual revenues. Over the next few posts, I will write about some of my hero clients and how we are able to achieve significant results from our work together. We have 36 Coaching Modules, which are areas within your business that when we improve your performance, your business will run better.
Beth’s New Dance Studio
I began working with Beth, this week’s business hero, the owner of a dance studio a few months ago. She started the studio two years ago and although the business had grown, it was only breaking even and she was unable to draw a paycheck from the business. Beth has children in the home and her husband is a minister, so earning additional income is important.
A Tactical Marketing Plan for Beth’s Dance Studio
We decided to focus on a Strategic Marketing Plan for her, which is a pretty common area to focus on with many of our clients. We first established Key Performance Indicators for her business. We begin with tracking the number of leads, conversions, average sale, total sales and profits. Her sales had grown but she was only breaking even.
Tactical Marketing Strategies for Beth
Additionally, with her dance studio, we focused on the total number of students, total capacity, student retention, and multiple classes for her students. Then we set about the task of identifying low cost and no-cost marketing tactics to grow her business. We contacted several marketing venues that are family-friendly and found one that we committed a one-time investment. We also invested in social media and began offering a free class for prospective students to visit. We did press releases to a number of local news publications. She then had the good fortune to attract a local TV station to come to conduct a series of interviews of her with her students at her studio.
Other Coaching Modules For Beth’s Dance Studio
In addition to strategic marketing, we also developed a strategic plan and deployed the plan to her team. We implemented a business budget, time management system, organizational plan, employee acquisition plan, pricing plan, employee delegation plan, employee manual, USP & guarantee, and team building system.
Beth’s Dance Studio Results
Beth sent me an email a couple of days ago letting me know that this past week she had increased her number of students far beyond her goal that we established when we began working together. As a result, she has doubled her sales. Her profits increased from zero to $60,000 per year and she took her first paycheck this month! Here’s an update in August- 16 months after starting to work together: Beth’s sales have grown 349%!
Here’s what she said:
“Alan is super encouraging. He is great at pointing out things I’ve never thought about. It’s nice to work with a male in business who has my best interests in mind. Alan is great at keeping me on task without making me feel bad about missing a deadline. My sales and number of students have doubled since Alan began coaching me 5 months ago and I was able to take my first paycheck since starting my dance studio two years ago.”
Congratulations to Beth, she is enjoying her business and is well on the way to achieving her vision using a Strategic Marketing Plan. You are a business hero and an inspiration to all of us! You can view a school bus company using a break-even plan here.