What is the difference between “Marketing and Selling” and why should we continue to invest in Marketing or Selling?
Marketing is about fertilizing the soil so that when you sow seeds (Sell) the seeds will germinate and grow easily.
The “more fertilized your soil is the less work you have to do to germinate the seed”
Marketing in a business sense is about building “Awareness”:
There are 2 things we need to build awareness of:
- Our Brand because familiarity builds credibility and credibility builds Trust and Trust leads to More Sales.
- Our Products because if the client does not know what we do then how will they know to ask us for them.
Remember: The more Marketing is done, the less is required in the Sales process.
In fact, you may have already experienced this.
Sometimes a new prospect would act like they have known you for many years when in fact you have only just met them. Thus, the sales process becomes simply “Taking an Order” because Trust has already been established.
The marketing we have done at Chan & Naylor to achieve this as we’ve grown include:
- Digital Marketing Such As Google Ads
- Sending Newsletters
- Attending Conferences
- Conducting Seminars
- Alliance Partners Talking About Us And Referring Their Clients To Us
- Seminars With Alliance Partners
- Our Articles That Appear In Our Alliance Partners Newsletters
- Social Media Work By Our Team
- The Effectiveness Of Our Website
- Publishing Our Own Books
The prospects have become familiar with our Brand and Trust has already been established.
Thus making the sales process so much easier when you are in front of them.
The less marketing that is done, the more that’s required in the sales process.
If a prospect has no familiarity with our brand, there is no trust and therefore no credibility and people may even be suspicious of our brand.
In this environment, the sales process is much more difficult and expensive and labor-intensive. You will have to rely much more on your sales skills to convert a client.
Therefore it’s much more cost-effective and scalable to invest in Marketing.
No selling required.
No sales skills required.
The more you invest in Marketing the less you spend in Selling and the less you invest in Marketing the more you spend in Selling. So where should one invest their money?
The answer obviously is in Marketing. But why do so many businesses do so little of this?
They often see it as an expense and not as an investment. That’s because ineffective marketing can be really a huge waste of money.
You will notice even with your own SME clients the business clients who are more successful tend to invest in effective marketing strategies. If you’re not putting your marketing as one of your top priorities, then you’ll find it harder to sell your services in the long run.
Once you have good marketing strategies in place, you can take a step back and watch as your leads grow.
P.S. Whenever you’re ready… here are 4 ways we can help you grow your Accounting or Bookkeeping business:
1. Grab a free copy of our book – Accountants 20-Hour Workweek
It’s the blueprint to structure, staff and scale your firm whilst dramatically reducing your work hours. — Click Here
2. Join the Wize WaterCooler and connect with other Accountants who are scaling too
It’s our new Facebook community where business-minded Accountants and Bookkeepers learn to build a firm that runs without them. — Click Here
3. Join our new WizePulse Implementation Program
We’re putting together a new mentoring case study group this month. If you’d like to get the plan, tools and advice from the Wize Mentors to scale your firm… just send us a message with the word “Pulse” – Click Here
4. Work with the Wize Guys privately
If you’d like to work directly with the Wize Mentor team to take you from stuck to scale…just send us a message with the word “Growth”… tell us a little about your firm and what you’d like help with, and we’ll get you all the details! – Click Here