Client Business Assessment Part 3-MARKETING MANAGEMENT SYSTEM

Do you have a large supply of client testimonials that illustrate very specific benefits they received from your product or service? If so, are they written, audio taped or videotaped? How are they currently being used in your marketing?
Do you have a system in place for capturing high quality testimonials on a regular basis?
What is the “lifetime value” of your typical client or customer (i.e. how much revenue will he/she generate for you over the entire period he/she is likely to do business with you)?
Do the majority of new prospects (at least 80%) contact you first rather than you initiating contact with them?
Do you use a systematic follow-up system to repeatedly contact prospects at regular intervals in order to convert at least 50% more prospects to paying clients? (Please explain)
If you increased the cost of your primary product or service by 50% tomorrow, what percentage of your existing client base would continue to do business with you?
What percentage of your clients or customers buy from you on an ongoing basis? Of those, in general, how often do they make repeat purchases from you?
Do you regularly solicit repeat business using a proven system that converts effectively?

If I were to ask your biggest competitors what their “USP” was, what do you think they’d say?
What would your competitors say your strengths and weaknesses are?
Have you completed an objective and thorough assessment of your competitive advantages and disadvantages?

What steps are you taking to offset any advantage your competitors may have - whether real or perceived?
What is your competition’s biggest failing and how specifically do you fill that void?
When you think of your last marketing campaign, what went well? What went wrong? What will you shift to increase results next time?
Do you offer any kind of money-back guarantee? If so, what is the guarantee? How does it compare to your competitor’s guarantee or the guarantee of the industry at large?
What is your conversion ratio? In other words, out of every “x” leads you generate, you create "y" clients or customers, which yields the ratio.
What techniques have you used to increase your conversion ratio?
Do you have customer loyalty or frequent buyer programs? If so please explain.
Do you have a system in place that regularly gathers high quality referrals? What percentage of your current business comes from referrals?

Are your ads, sales letters or other marketing activities "working"? How do you know? Do you have a tracking system to monitor the success or failure of various initiatives?
Do you use "two-step advertising" (i.e. step one generates qualified leads, step two converts those leads to paying clients or customers)?
Are you currently doing business online only, offline only, or both? What percentage of your business comes from each?
Do you have public relations as part of your marketing arsenal? If so, what do you do and how do you do it?
Although you already shared the CRM you use, do you store data on your prospects, customers and clients in a database? Do you collect and store demographic information (age, gender, employment, etc.) or psychographic information (interests, culture, lifestyle, income, etc.) on them so you can pinpoint your marketing messages to very precise degrees? Have you ever done "database marketing" like that?
What’s your primary focus at this time: acquiring new clients or selling existing clients more and more products and services? Why?
When was the last time you introduced a new product or service to your market (both existing customers, clients and prospects), how well did it work, and what was the reason you made the introduction?
Do you provide incentive bonuses to your employees for creating new and better marketing methods for your company?

Have you calculated what it actually costs to acquire new clients for each of your funded marketing campaigns? (i.e. if you run an advertisement that costs $1,000 and you create two new clients, the cost would be $500). Do you use that information to evaluate the effectiveness of each of your campaigns – or how much you can afford to spend on your marketing?
If you answered "Yes" to the above question, have you experimented with making less money on the initial sale, breaking even on the initial sale, or even losing a small amount, in order to create a customer who will buy repeatedly (and very profitably for you) over the long-term?

How often do you make an offer to your marketing list? What percentage open those emails? Click? Buy?
Have you ever tried to reactivate "dead" or "dormant" clients or un-converted prospects?
Does your business have "seasons" where you regularly have sales surges or declines? If so, what have you done to smooth out the flow?
Do you regularly test one marketing strategy against another, or one component of a marketing piece or ad against another (such as the headline in an ad or sales letter, the offer itself, different money-back guarantees, different product prices, etc.) and scientifically decide how to spend your marketing dollars for maximum return on investment?
How are your marketing/advertising results currently measured and quantified?
Are there any stories about how your business got started or has grown that are unusual or interesting?
How are you tracking the results of your marketing campaigns to validate using them again to grow your business?
Do you add fresh content to your website on a regular basis?

Was your website professionally designed?
Do you come up for your keywords in search engines?
Do you use blogging on your site and highly trafficked websites to get new visitors to your site?
Do you have a compelling author byline that mentions your free offer or other call to action?
Do you have client success stories, case studies and testimonials on your website in prominent places? Are they compelling and tangible? Would you be swayed by them?
Have you invested in paid advertising to increase your visibility? What have you used? What has been the result?
If you answered yes to the last question, who is running your advertising efforts? In house or media buyer? Are you getting an ROI of at least 3-5x your ad spend consistently?
Have you researched the social media outlets that are best for you based on the clients you desire to serve?
Which social media outlet gives you the best following and prominence?

Do you launch new products and services on a regular basis?
Have you written a book or do you have a book in you?
Within 5 seconds of coming to your website, will a visitor be able to determine the problem you solve and the solution you provide?
What about marketing makes you feel the most uncomfortable or are you trying to figure out at this time?
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Client Business Assessment Part 3