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Are you fed up of being on the revenue rollercoaster, where each month revenue is unpredictable and you don’t know whether it’s going to be a high or low revenue month? Do you want to learn how to make the revenue rollercoaster end and instead be in a position where you have a fairly consistent income month after month? The revenue rollercoaster is a reality for many service-based businesses and there are reasons why so many service-based businesses get stuck on the revenue rollercoaster. But in this blog post you’ll discover what your marketing needs to do so that your revenue rollercoaster ends.
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THE REVENUE ROLLERCASTER ENDS WHEN YOUR MARKETING DOES THIS
Why the revenue rollercoaster happens?
As I’ve already mentioned the revenue rollercoaster isn’t uncommon. If you are on a revenue rollercoaster at the moment you aren’t alone. But having worked with service-based business owners for years the reason is nearly always due to how the business is being marketed. Many service-based business owners fall into this trap. When client numbers are low they’ll go hard with their marketing to create new sales, but then once new clients are signed up and they are busy with client work (and possibly not wanting to take on any more clients) they stop marketing. But once working with those clients come to an end they panic and start marketing hard again.
Whilst a business owner might say they are on a revenue rollercoaster and they don’t know why it’s usually so very evident that there is a direct relationship between the amount of time and money they are investing in marketing, and the results they are getting. However, the problem is there will be a time lag. For example, it’s unusual if a business has been doing no marketing at all that it can do a little bit and sales will pour in. It takes time for a leads to come in and for them to convert. This is why to avoid the rollercoaster what you actually need to do is be marketing even when you don’t need a new client in that moment. The key to consistent sales and consistent income is having consistent marketing.
Why you should be focusing on consistently marketing your business
Only marketing your business when you need clients will mean you continue to be on the revenue rollercoaster. There is inconsistency in your marketing, which is results in inconsistency in your sales and income. If you want consistent income then you should be focusing on consistent marketing. You need to change your mentality around marketing. Rather than seeing marketing as an activity you only do when you need new clients, you should think of marketing your business week in and week out, all year round.
You might be thinking “Why would I continue to market my business if I don’t need clients?”, but the businesses that consistently market their business, even when they don’t need clients, are the ones who are able to fill a space for a new client the moment it becomes available.
This doesn’t mean you are always in selling mode. In fact, if you aren’t actively having to sign new clients, you can use that period of time to increase brand awareness, grow your mailing list or build the know, like and trust factor with your current audience.
Three ways to build marketing consistency that brings the revenue rollercoaster to an end
Hopefully you can see the value in marketing your business consistently (week in and week out) regardless of whether you need new clients or not. But how does that work in practice? In reality, there are numerous ways you can be consistent with your marketing, depending on the marketing channels and platforms you are using. Three very common ways used by service-based business owners.
Option 1: Posting daily on social media
For many service-based businesses social media is the first type of marketing they’ll do. Social media content has a very short lifespan and so if you want to be consistently marketing on social media you’ll want to be posting multiple times per week, ideally every day. By posting daily the aim is to keep your business in people’s minds whether that be to work with you, or to recommend you to others. You can find out more about why posting daily on social is a smart move here.
| BUILD THE HABIT OF POSTING DAILY ON SOCIAL MEDIA – JOIN MAYMENTUM.
Posting daily on social media is a commitment. To ensure you build that habit and make sure the time you invest is used as wisely as possible I created MAYmentum. Inside MAYmentum you’ll be supported with posting daily for your business and to monitor your performance so you can keep making your content better and better. You’ll also be around other business owners also posting daily (to normalise the habit) and sharing their learnings so together everyone can keep on improving. |
Option 2: An evergreen content and email funnel
Another option is to create an evergreen content and email funnel. As mentioned social media has a very short lifespan and that means in order to consistently marketing your business on social media you have to consistently post new content. But other forms of marketing have longer lifespans, which means the marketing you create has value for months or even years into the future. A great example of this is an evergreen content and email funnel.
The first stage of the funnel would having evergree long-form content that is optimised for search. Most commonly this would be a blog post or a YouTube video. Then in that content there would be a call-to-action to download a lead magnet. After downloading a lead magnet the person would be added to an automated email sequence which would be promoting your offers.
Content that is optimised for search can be valuable for a business for years and an automated email sequence can run for years too. This means something that was created months ago can still mean the business is being marketed week in and week out even if the business owner isn’t actively doing marketing activity (like posting on social media or sending an email newsletter).
The beauty of this type of marketing is the compound effect. You absolutely can create a few pieces of long-form content that is optimised for search, create the automated email and let it be. But if you decide to keep on creating long-form content that optimised for search and more automated email sequences they will build on top of each other and in the future you’ll get to the point where you are making sales from content you can’t even remember creating.
| GET A PERSONALISED MULTI-CHANNEL MARKETING STRATEGY
An evergreen content and email funnel is one of my personal favourite ways to start consistent with marketing, and what I use in my business. If you want a multi-channel marketing strategy that generates sales week after week then you’ve got to ensure that everything is working together. I’m amazing at helping online service providers to create a strategy across the content trifecta (social, email and long-form content) so they can attract the right people into the world and convert them fast. If you’d like me to create a personalise multi-channel marketing strategy for your business get in touch. For all the details DM me on Instagram or LinkedIn saying MULTI CHANNEL |
Option 3: Digital Advertising
Both of the options so far have been marketing forms that focus on investing time, but you might not have the time to be investing in social media, email or content marketing, If you don’t have time to invest, but have money to invest, another way to ensure you are consistently marketing your business is through digital advertising.
There are lots of different forms of digital advertising you could run, but two very common forms for service-based businesses is social media advertising and paid search. Social media advertising is available on virtually all social media platforms, and you can run paid search on search engines like Google and Bing, as well as on platforms like YouTube and Pinterest.
Once set up digital advertising can continue to run for as long as you keep on paying, which means they are a great way to consistently market your business even when you don’t have the time to be doing any forms of marketing that require you to create and publish new content. From time to time you’ll want to do some monitoring to ensure it’s still performing as desired, but digital advertising is a great way to ensure your business is consistently being marketed.
How will you be consistent with your marketing and get off the revenue rollercoaster?
You’ve read about three options, but you don’t have to choose all three. In the beginning just focus on one option and then you can build up from there. Remember the point is to be consistent. You want to ensure that week and week out your business is being marketed. If you have time to create content then option 1 (social media) or option 2 (evergreen content and email funnel) are good options. If you have money to invest option 3 (digital advertising) is a good option. Choose something, get it up and running. And then you can also add in another option later on.
That’s it. You know how why the revenue rollercoaster happens and what you need to do with your marketing (be consistent) so the revenue rollercoaster ends.
The highs and lows of the revenue rollercoaster are not fun. It causes unnecessary stress, which can be avoided through consistent marketing.
Rather than marketing your business when you need clients embrace the approach of marketing your business every single week. That level of consistency, through whatever marketing channels and platforms, will mean your business have a consistent stream of leads and sales.
I hope you’ve found this blog post useful. If you have do let me know over on Instagram or LinkedIn.
And if you would like help being consistent with your marketing I can help.
If you want to go option 1 then come and join MAYmentum.
If you want to go option 2 or 3 then check out my 1:1 Business and Marketing Mentoring.
| Kickstart posting daily for your business – Join MAYmentum
I created MAYmentum specifically to help online service providers to build the habit of posting daily on social media. It starts by not committing to doing it forever, but just committing to doing it for one month – MAY.
In MAYmentum you’ll receive training to create your own content strategy and shown numerous ways to build a content creation process. You’ll have accountability from me to post daily. And you’ll be surrounded by other business owners who are all post daily and talking about what is and isn’t working.
This isn’t just about posting daily to post daily. This is about posting daily to get better at social media marketing, to learn what is and isn’t working, and to maximise sales.
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