Are you investing in marketing and experiencing limited or zero returns? Maybe you know there is an opportunity for growth, but you're not sure how to make it happen. Unfortunately, this happens all the time. The reason most likely lies in at least one of the revenue roadblocks I will share with you today.
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The Top Revenue Roadblocks You Must Eliminate To Accelerate Growth
Are you investing in marketing but experiencing limited or zero returns? Maybe, you know there's a growth opportunity, but you're just not sure how to make it happen. Unfortunately, this happens all the time. And the reason most likely has to do with at least one of the revenue roadblocks that I'm going to share with you today.
Hi, I am Tim Fitzpatrick with Rialto Marketing, where we believe marketing shouldn't be difficult. All you need is the right plan. Thank you so much for taking the time to tune in. I appreciate you.
So if you're investing in the growth of your company, but it's not working or you're not sure what to do to take advantage of growth that you know is there. This episode is for you.
I'm going to run through nine common revenue roadblocks, the nine most common that we see that we really pay attention to when we work with the client to help them accelerate their revenue growth. We all run into roadblocks. It happens to all of us. We just need to be able to identify what those roadblocks are. And then and only then can we create a plan to push through those roadblocks.
So I want to share these nine with you today. And these things are broken down. There's three for each element. When we look at revenue roadblocks, we look at marketing strategy roadblocks, we look at marketing planning roadblocks, and then we look at marketing management roadblocks.
Marketing Strategy Roadblocks
So let's dig into marketing strategy first. These are what I consider the fundamentals that laid the foundation for you to build the rest of your marketing house from. So the first one is your target market. You have got to know and understand clearly who your ideal clients are, who you intend to work with, and where those people are so that you can get in front of them. Everything from a marketing standpoint starts with target market. If you do not have this nailed down, it is going to be a key revenue roadblock. Once you understand who your ideal clients are, then and only then can you create a message that is going to attract and engage them. Right. We've got to be able to grab their attention and their interest, but we can only create a marketing message that's going to do that when we first understand who our ideal clients are. Our message really should be focusing on the problems our ideal clients have and don't want and the results they want and don't have. Okay. Target market and messaging. Key revenue roadblocks when it comes to marketing strategy. And the third one, when it comes to marketing strategy, has to do with your services and your offers. Do your services and your offers match what your ideal clients are looking for? Do you have a systematic way to bring people in, get them to buy, start somewhere, and then slowly step people up to additional offers and services? We've got to have that in place otherwise that is going to be another revenue roadblock for you. So those are the three that have to do with marketing strategy. Target, market messaging, and then your services and your offers.
Marketing Planning Roadblocks
The next three have to do with marketing planning. If we do not have a plan, our marketing is scattershot. It's haphazard. We're throwing spaghetti up against a wall hoping something's going to stick. You're never going to get consistent, repeatable results. You've got to have a plan. And when it comes to your plan, there are three elements that we look at that are common revenue roadblocks. The first one is lead generation. How are you going to consistently generate high-quality leads? Not just leads, but high-quality leads. If you're generating leads that aren't any good for you, then it's not going to do any good, right? You're not going to grow. If you're generating leads that you're never going to do business with. We've got to hit the right targets. So lead generation is the first one. Once you're bringing in leads, high -uality leads, how are you going to convert them? Do you have a way to consistently, systematically convert the leads that you are generating? If not, your conversions are going to suffer and that's going to be a revenue road block. You're not going to grow as quickly as you should or could last one. Once we're generating high-quality leads, we're converting those leads consistently. Then what systems do we have in place to retain those customers? Right. So that they stayed with us? And how can we generate referrals from those existing clients? Super important. It is far cheaper to do more business with existing clients to retain those clients rather than to have to generate new leads. It cost a lot more money to generate a cold lead. We want to make sure that we have a way to retain as many clients as possible and to generate additional referrals from those clients. So those are the three elements that we look at when we look at marketing planning. Lead generation, lead conversion and retention and referrals.
Marketing Management Roadblocks
Then the last three common revenue roadblocks have to do with marketing management. We've got to manage our marketing effectively if we're going to drive revenue growth. And unfortunately, management is where a lot of things fall apart. Right. You can have all of the other elements that I just touched on in place, but if you're not managing effectively, that is going to be a revenue roadblock. The first revenue roadblock when it comes to management is execution. I've got a plan, but then you don't execute well. If you don't execute well, it's not going to work right? We have to execute well. Okay. A lot of great marketing plans go to die because of poor execution. Next thing when it comes to marketing management is metrics. If we either don't track any metrics or we track the wrong metrics, that is going to be a revenue roadblock. We have to identify the right metrics, the metrics that will help inform us and let us know whether the actions we're taking with our marketing are working or not. If you don't know whether your marketing is working or not, you can't make good decisions about what to do. Should I keep doing this? Should I stop doing this? That's where the metrics come into play. Super important. And a lot of people either don't track them or they're tracking the wrong metrics. They're tracking metrics that don't mean anything, and they're not helping them inform their decisions. Now, metrics are closely related to the last revenue roadblock, which is optimization. When we can optimize on an ongoing basis, make little course corrections, right? They're small. They're not huge, but just small. Little optimizations, little changes. All of those start to add up and result in just huge improvements. And it's those huge improvements over time that really help accelerate revenue growth. So we've got to be constantly optimizing our plan, constantly testing, measuring the right metrics so that we know what's working, what's not, and then we can make those course corrections over time. So we've got to have optimization in there. If you're executing well and you're tracking the right metrics, but you're not making any changes for the better, then that's going to slow down your revenue growth.
Conclusion: The Top Revenue Roadblocks You Must Eliminate To Accelerate Growth
So real quick, one more time, I'm going to run through those nine common revenue roadblocks. And again, they're related to marketing strategy, marketing planning, and marketing management. So the nine revenue roadblocks common ones that we see our target market, messaging, your services and your offers, lead gen, lead conversion, retention and referrals, execution of your marketing plan, metrics; what metrics am I going to track, and then optimization; How can I make small little tweaks to my plan that's going to continue to give me better and better results?
So I hope you found that helpful. If you know that you can grow, but you're not sure how to do it or you're investing in your marketing, but you're getting limited or zero returns, you're dealing with a revenue roadblock, at least one. It's not uncommon to see businesses that have multiple revenue roadblocks, and that's okay if you're in that spot. You're not alone. But we've got to first. Now that you're aware of these, the next steps are we need to identify what those roadblocks are so that you can then create a plan to get past them and to push through them. And the first place to start to identify your revenue roadblock is getting an idea of where you're starting from with your marketing. Where are you with your marketing right now? What are you doing? What's working? What's not? Then we can create a plan to push through those common roadblocks.
So I hope you found this helpful. If you want to get access to the 90-day marketing plan template that we use head on over to growthmarketingplan.com. At growthmarketingplan.com, you will find the instructional video breaking down our simple six-step, 90-day marketing plan. The template is there. Sample plans all the downloads and tools you need to start working on your plan today are right there. If you want to jump on a quick call, chat with me about some of your potential revenue roadblocks so that you can get some clarity on what you need to focus on now to get where you want to go. You can always head on over to rialtomarketing.com. That's R-I-A-L-T-O marketing.com. Click on get a free consultation button and I'll be happy to chat with you. Thanks so much for tuning in. Until next time. Take care.