EP 014 | Marketing Strategy for Service-Based Businesses

The Importance of Marketing Strategy for Service-Based Businesses

In today’s competitive market, a strong marketing strategy for service-based businesses is more important now than ever before. A well-crafted marketing plan can help you reach your target audience, generate leads, and grow your business.

The 5 Ws of Marketing Strategy for Service-Based Businesses

One of the most important aspects of developing a marketing strategy is to understand the “5 Ws” of marketing:

  • Why: What are your marketing goals? What do you want to achieve?
  • Who: Who is your target audience? What are their demographics, psychographics, and needs?
  • What: What services do you offer? What is your unique selling proposition?
  • How: How will you reach your target audience? What marketing channels will you use?
  • Where: Where will you distribute your products or services? What is your distribution strategy?

Aligning Your Marketing Strategy with Your Business Goals

Your marketing strategy should be aligned with your overall business goals. For example, if your goal is to increase brand awareness, you may focus on content marketing and social media marketing. If your goal is to generate leads, you may focus on email marketing and paid advertising.

Proven Strategies for Reaching Your Target Audience

There are a number of proven strategies that you can use to reach your target audience, including:

  • Content marketing: Create valuable, informative content that appeals to your target audience.
  • Social media marketing: Use social media platforms to connect with your target audience and build relationships.
  • Email marketing: Use email marketing to nurture leads and promote your services.
  • Paid advertising: Use paid advertising to reach a wider audience and generate leads.
  • Public relations: Use public relations to get your business featured in the media and build credibility.

marketing strategy for your service-based business - quote from kendra losee

The Power of Storytelling and Brand Storytelling

Storytelling is a powerful marketing tool that can help you connect with your target audience on an emotional level. When you tell stories about your business, your customers, and your products or services, you can build trust and credibility.

 

Brand storytelling is the process of creating a narrative around your brand. This narrative should be consistent across all of your marketing channels and should reflect the values of your business.

Measuring and Tracking Your Results

It’s important to measure and track your marketing results so that you can see what’s working and what’s not. There are a number of different metrics that you can track, such as website traffic, leads generated, and conversions.

Final Thoughts

Developing a solid marketing strategy is essential for the success of any service-based business.

By understanding the “5 Ws” of marketing, aligning your marketing strategy with your business goals, and using proven strategies to reach your target audience, you can grow your business and achieve your marketing goals.

 

If you’re looking for help developing a marketing strategy for your service-based business, I encourage you to contact me today. I have over 25 years of experience in digital marketing, and I can help you create a plan that will help you achieve your goals.

 

Tune into the Invisible to Invincible Podcast, new episodes are released every week! We’re your guide to achieving meaningful success on your terms, making your career work for you (not the other way around).

Because it’s never too late to take control and transform your business and your life.

 

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EP 014 – Transcript | The Ultimate Marketing Guide for Service Businesses 

[00:00:00] Welcome to the Invisible to Invincible podcast, where I’m your host, Kendra Losee. I help business owners overcome feeling overwhelmed and feelings of invisibility to become the go-to experts in their field. As a comprehensive strategist with 25 years of experience in digital marketing, I have developed more marketing plans for service-based businesses than anyone I know.

 

[00:00:35] I’ve taught marketing and social media at universities and my results driven marketing plans have helped countless clients achieve their business goals. Why am I telling you all of this? Because in this episode, we are diving into the essential foundations of marketing for service-based businesses in 2024, and there’s a lot of different ways that I’ve learned this and taught it starting with the five P’s that they taught me and when I was getting my MBA to the seven C’s to the five C’s and to the five W’s but you know what? I don’t care what we call it. You don’t care what we call it. You care that you are creating a marketing plan that helps you connect with your audience, that helps bring in more revenue, that helps engage.

 

[00:01:36] Your current customers and your future customers that helps attract those people who might be interested. Those target audience people that need your help. I’m going to walk you through what you need to create a marketing strategy so that you don’t let any more of 2024 slide by without knowing how to best connect with your customers.

 

[00:02:01] And with your future customers. And don’t worry, they’re going to thank you once they find you. Whether you’re just starting out your business or you’re ready to take your business to the next level, this episode of the podcast has something for you. All right, so sit back, relax, grab your favorite beverage, and we are going to walk through the secrets of marketing success for your service business in 2024.

 

[00:02:27] And you might be thinking, Kendra, what does this have to do with being invincible? It has everything to do with being invincible. Right? Like, right now, you might be feeling invisible. Right now, you might be struggling to get clients. Right now, you might be tired of being the best hidden gem. The best kept secret.

 

[00:02:50] I hated it when clients would describe themselves that way. , but you know what? I love it. I love it because I knew that there was an opportunity for them to show up, to help them put their businesses in front of people, to help them move from being that invisible hidden secret to becoming invincible.

 

[00:03:13] What we’re going to do today is we’re going to walk through what that marketing plan can look like for you. It doesn’t have to be complicated. I’ve created marketing plans that were one page long and trust me when I say I’ve created marketing plans that were over a hundred pages long when I worked for a university.

 

[00:03:30] Ooh, don’t ever do that to yourself. That’s a hot tip for you. So here’s the deal. You want to create a marketing plan so that you know what you’re doing, when you’re doing it, why you’re doing it and where and how you’re doing it. You’re not just throwing social media posts up. You know, I posted twice on LinkedIn and nothing happened. Cool. Cool. Let’s talk about it. I sent three emails and nothing sold.

 

[00:04:00] Awesome. Let’s talk about it. So posting and emailing and doing these things randomly, is not a strategy. You want to have a strategy so you can tie it all together, so you can get your team on board if you have a team, so you can get your assistants and virtual assistants and yourself on board. Whatever that looks like and however you grow and scale, you want to have that alignment.

 

[00:04:27] It’s really important.

 

[00:04:29] You want to have that alignment. It’s really important. And here’s the thing that I see. I see a lot of small businesses, whether they’re solopreneurs, consultants, coaches, whatever that business is, I see a lot of small business owners ignoring their marketing plan because they think they don’t need it, because they don’t have time, because they’re too busy helping current clients to show up for themselves.

 

[00:04:54] Well, this is going to help you stop that. This is where I come in and I have been doing this for a really long time. I’ve been doing this for one of the largest universities in California, all the way down to individuals who are looking to pivot and start their own business or who have just started their own business and trying to figure out what that, what they’re going to do, how they’re going to talk about it.

 

[00:05:17] I am a comprehensive strategist, and I focus on three essential areas for your business. I focus on the people, the communication, and the tactical strategies. And from my work as a professor, I also teach all of these as well to my clients. Let’s start with the why, the internal foundation and people strategies.

 

[00:05:44] This is where you as a business owner influence the attitudes and behaviors and beliefs of your business’s marketing efforts. Whether it’s just you or you have a team, your internal beliefs and what you think is possible and what you think needs to be done and what you think your customers want influence all of the decisions in your business.

 

[00:06:11] If you’re feeling stuck, we’re going to dial in to figure out what part is it that you’re feeling stuck. And sometimes It’s you. You’re the reason you’re feeling stuck because you have these ideas and these beliefs that things need to happen a certain way and they no longer have to happen that way.

 

[00:06:31] ,That’s why I start with the people. Start with your business. Look internally to figure out who you are, what your business does, what do you stand for, what’s the mission of your business? What is the purpose of your business? Use that to connect with your passion and your purpose.

 

[00:06:49] And then look at your vision. Where do you want to take your business? What are the goals that you have for your business? This whole first part is understanding your internal business. And what that means. It doesn’t take long but it does take introspection. The second part of the people’s strategies is who are your customers?

 

[00:07:11] Who are you talking to? What are their motivations and their emotions when it comes to the decision making process? Most people, especially business, other businesses, if you’re marketing to other business owners, people make decisions based on their gut feeling. So how are you showing up? Can they trust you?

 

[00:07:31] Do they trust you? Do they know you? Do they like you? Those are the questions. So you want to pay attention to how you are showing up and who you’re talking to. We don’t have a business without people. Your people are buying and your person selling. So you want to focus on the, your customers and really understand who they are.

 

[00:07:59] And if you say Kendra, Everyone’s my customer. What do you mean? My services work for anybody. I do, I help people stretch and everybody has a body, so everyone’s my customer. Don’t, don’t come to me with that nonsense. And if you do find yourself saying that, let’s talk because you’re wasting your time and your effort if that’s where you’re, if that’s how you’re approaching this, because none of us want to waste time and effort. Let’s clean that up and get that moving along so that you know exactly who you’re talking to. Now, one of the things when we start to look at those decision making, Your customers, one thing, when we start to look at your customers and knowing who they are and who exactly you’re talking to, it becomes increasingly important to make sure that you know what their values are, that you know what your values are and where those align, because as a business owner, you have core values that impact your goals and they impact your ability to get those goals accomplished.

 

[00:09:10] And so once you know what your core values are, you can look at what the core values of your audience are. One of my clients was looking at their core values and they had, freedom, flexibility, financial security, and a couple others, adventure, and a couple others that were in their, in their core values.

 

[00:09:30] And their audience Overlapped and that they wanted that freedom flexibility because they were adventurous when she was working on our business She was working with a segment that had Adventurous types businesses and it was the perfect overlap because she could bring that sense of adventure to her clients and in her messaging And speaking of messaging, we’re going from the why to the messaging because and that communication because that communication is so important and how you communicate and what you say is everything.

 

[00:10:15] If you don’t have a clear message, if you are not able to clearly explain what you do, why you do it, understand what makes your business unique. and talk about it in a way where people can clearly understand the value you bring, you’re going to be lost. What you want to do is make sure that people understand your value, that people understand what problem you’re solving for them.

 

[00:10:49] There’s a lot that can go into this, but it doesn’t have to be complicated. Once they know their goals. They know what they do for their business, right? They know what their products are, and their services are, and what they’re offering.

 

[00:11:00] And they know who they’re talking to. But a lot of people miss the how to talk to them, what to say. So you want to make sure that what you say and your message really resonates with your target audience. I distinctly, oh my gosh, I’ve had this over and over and over again, but I went in to meet with a university professor and he was in charge of this program.

 

[00:11:29] And I said, okay, so what makes your program unique? And he was like, well, it doesn’t really, it’s not really unique. Like, okay. So say I was a student and I’m calling, I’m calling to understand what your program does and he looked at me and said, Oh, if you were a student, here’s what I do. First, I ask you if you are interested in MBA, and if you say no, I ask you if you’re interested in a degree in leadership. And if they say no, I ask them if they’re interested in like a degree in HR or something like that. And if they say no, then I tell them about my degree.

 

[00:12:13] Okay. My job was to write marketing copy for this program and to put a campaign together. Like, I don’t think those questions fit on a banner ad. I don’t think those questions are going to fly with anybody. It took so much time, but we were able to get to the purpose of the program and why he created it in the first place and that’s what it took to be able to understand what the benefits are and tell a story about that program. Little does he know that all these years later, I’m telling the story about how we got to it, but it becomes so easy for us as the experts to miss the forest through the trees because we’re so caught up in the detail of what we know. And when we get caught up in the detail of what we know, everything’s important. Everything is important. And you know what? If everything is important, nothing is going to be important and you’re going to lose people. When it comes to your message, make sure people understand exactly what you do very quickly and easily and they understand how you can help them.

 

[00:13:27] How you can help them with that problem that they have. Because that’s really what they want. They want to know you can help.

 

[00:13:35] Then we start to look at the how and the where, right? So how do you communicate? Where do you talk to them? This is the tactical strategies and the implementation. This is your strategic roadmap to figure out where you’re going to be posting, what you’re going to be doing.

 

[00:13:54] Are you going to be running ads? Are you going to be showing up on Facebook? Are you going to be creating videos for YouTube? What are you going to do? It starts with your audience and your goals. What you decide to do and what you decide to implement just starts with your goals, what you offer, and who you are selling to.

 

[00:14:17] If you get nothing else out of this episode, know that you need to understand those three things. Because ultimately, once you have those three things, you can create a marketing plan. A lot of times I’ll do an audit and a competitor audit to understand how to best help someone and find the places for opportunity that might be underlooked, you know, overlooked by, underlooked, that might be overlooked by competitors.

 

[00:14:47] But ultimately it comes down to those three things. Who are you? Who are you talking to? And what are your goals?

 

[00:14:56] But, knowing those things, you still have to put the plan in place and put it into action. Am I right? I’m right. I know I’m right. Because the action piece is often where people fall down. And we don’t want you to fall down. We want you to know what you’re going to do and actually do it because your business is counting on you.

 

[00:15:19] And on a side note, if you are a service based business and you are working on your business brand, your personal brand falls into this as well. Your personal brand needs the same attention and love as your business brand because people are ultimately buying from you. They’re buying from a person. So don’t hide behind your business brand, but show up with it.

 

[00:15:45] For your strategic roadmap, and your implementation, you want to determine what the best channels are to reach your audience. You want to understand what your resources are. Does it make sense to create professional YouTube videos if you don’t have the resources to help you do that?

 

[00:16:04] Or is it better to go live? Or is it better to just create a bunch of blog posts? Or is it better to post on, Instagram versus LinkedIn versus X? What you decide to do is going to help your business grow. So it’s important to know the things I talked about already in order to know where You should show up, how you should show up and when you should show up.

 

[00:16:31] You can use content marketing where you’re doing email marketing and blog posts and video, and you can do social media marketing and thought leadership and partnerships and speaking. There’s so many things you can do. There’s so many things you can do. Don’t try and do them all and make sure you have a clear plan and honestly, make sure you’re gathering data.

 

[00:16:52] Because if you’re not gathering data along the way, you’re going to decide that something worked and didn’t work and you know what that’s going to do for you? You’re not going to know which it is. So there’s a famous saying that, you spent 50, you spent your whole 100 percent of your marketing budget, but you only knew, 50 percent was effective, but you didn’t know which 50%.

 

[00:17:16] So don’t be that person. Understand. And I just slaughtered that quote, by the way. Slaughtered that quote. But here’s the deal. You want to be successful. And that requires data to know where you are today, understanding where you’re trying to go, and capturing data to figure out what works and what doesn’t work.

 

[00:17:38] And it takes time. You’re not going to know on day three if something’s not working unless you have a gigantic audience. But you might know on, a couple weeks into it if something’s not working. You might be able to see what content people like more and take a look at that. You can find these things within what you’re doing.

[00:18:01] Find the data, talk to your customers, and see what messages are resonating.

 

[00:18:10] Marketing is an art and a science. It’s the art of psychology and creativity and understanding what’s going to connect with somebody. And it is the science of psychology. It is the science of behavior and of data and understanding what are those things that you can put on repeat, that you can automate, that you can use to continue going over time.

 

[00:18:40] Long story short, when you’re looking at marketing your service business in 2024, don’t forget these essential foundations. These foundations and putting your marketing plan together is going to help you guide your decisions. It’s going to give you confidence, it’s going to help give you clarity, and it’s going to help you understand what you can do, what you should be doing, and honestly, what’s going to make you look good?

 

[00:19:10] What’s going to work? The worst thing someone could do is tell you that they didn’t know you had a business, right? Because anything you do that’s better than people not knowing about you is going to be something. So the key is to get started and really understanding how to align your, the people with your communication and that message and your tactical strategies and whatever you need to do to take action in the fastest way.

 

[00:19:44] That makes sense. Do it. I highly recommend taking time to create your marketing plan for growth in 2024. I can tell you once again, I’ve been doing digital marketing for over 25 years and I’ve been making and creating marketing plans for longer than that. And the foundations of the marketing plans do not change.

 

[00:20:10] How we approach them might change, what those tactics are might change, but the tactics are like 25%. 75 percent of your plan goes into making sure those tactics are going to work. I would love to hear how you approach your marketing and what you do and what are the steps that you’re taking to move from being invisible to invincible with your business, with your personal brand, and as a business owner with your mindset because a lot of times it starts there.

 

[00:20:45] Here is to being unapologetically bold, to making those decisions that are going to push you forward, taking those risks and seeing what happens. Here is to an amazing rest of 2024. I can’t wait to see what you do and don’t forget to leave a comment and let me know because I would love to hear it.

 

[00:21:11] Until next time, I’m Kendra Losee. This is the Invisible to Invincible podcast. I’ll talk to you next week.