Case Study: From Throwing Marketing Dollars at the Wall to Investing in a Thriving Business
Jessica Fialkovich of Denver Transworld Business Advisors office signed up to work with me in the fall of 2014 after reaching full frustration in her search for a niche. Jessica and her husband, Al, have partnered together to run their business broker and franchise consulting firm for the last two years.
“We always knew the importance of having a niche, but we struggled with identifying the right industry,” Jessica said. “And, as a result, we were just throwing marketing dollars at the wall to see what stuck.”
As is often the case with my clients, Jessica and Al came to me for one thing, but we ended up working on so much more. Marketing challenges are rarely the consequence of one hurdle. Challenges run deep and affect so many things.
“After a short time working together, it became apparent Meghann was about to become our outsourced Chief Marketing Officer,” Jessica said.
Before I tell you about the exciting marketing plans we have in the works for Transworld Business Advisors, let’s start at the beginning.
Phase One: Picking a Niche
After completing discovery exercises and sitting down to hash out the details of Jessica and Al’s best client relationships, I was able to provide them with a document that clearly detailed what their target client looks like.
They went from seeking out owners of businesses valued at a specific amount to seeking out owners of family-held businesses between 45 and 60 who are ready pursue a new dream
“Truth is we still serve the same group of people as we did before,” Jessica said. “But now we know who they are and what they need. Since switching the way we talk about our target client, we’re getting more referrals and better quality leads. We’re also able to support our brokers better because we’re clear on who we serve.”
Marketing Help Is What You Buy, But Accountability Is What You Get
Once the niche was nailed down, I stayed on to work with Jessica and Al to develop a new marketing strategy. For some time, the company invested in Google advertising, print advertising, and a big print mail campaign, but they weren’t tracking the effectiveness of any of it.
“More than anything else, Meghann provides us with accountability. She makes sure we aren’t wasting our marketing dollars and that we have the right ROI. She really puts what we need to do in perspective.”
Jessica went on to describe a time when she was pushing me to help them create a video for their website. When I asked if their website could even support video integration, Jessica sheepishly said, “no.”
While we had a good laugh over the video, this conversation helped launch us into phase two of our work together.
Phase Two: A Shift in Marketing Strategy
Jessica and Al are in the process of building a new website that will support a variety of marketing tactics like downloadable white papers and webinars. All of these tactics will work to collect email addresses. The site will also support a refined print mail campaign that includes tracking links for better marketing analytics.
“Hiring Meghann has been one of the most positive investments we’ve made in the company,” Jessica said. “Not only are we making strides in business growth, but we’re saving $1,000 a month by eliminating wasted marketing expenses.”
Stay tuned! We are still working on things such as their content marketing plan, their power partner strategy, and more. Can’t wait to see what kind of traction their new web presence gives Transworld Business Advisors!