Every month I’ll give you an update on my online marketing business to show you how it’s progressing.
This is where you will find out what I’ve been doing to get more clients, service my existing customers and organise my business.
It also forces me to take a take step back and see where I need to spend my time to make more sales and grow.
Since this is my first update, I’ll give you an update for the past two months, August and September.
One Business Goal
When assessing your business, it’s important you do this in the context of your goals.
My existing goal for my business is to make £5,000 monthly revenue by 31st December 2016.
Key Highlights This Month
- Two new sales: one for monthly online marketing services and the other for a new website
- Held my first live speaking event and podcast
- Secured a Facebook Live session with a group of service based businesses
- Received my best ever testimonial from a previous client – woohoo!!! 🙂
Two New Clients for Marketing Services
After what felt like a five month sales process, I finally closed a sale for monthly online marketing services. Specifically, I’ll be helping them (a furniture company) with SEO to improve their rankings in Google and get more traffic to their website.
Another client (home improvements company) has also agreed for me to build them a new website. It’s a good amount of income (which you will see below). It will require extensive research, planning and development. I like to develop sites that make sales, and don’t just look great.
Creating new websites is not my business’s core offer, but it’s very difficult to market a bad website or product. That’s a recipe to lose money and is not in my client’s interest. So in this situation I offer to create a new website that will convert visitors into sales and then hope to help them with online marketing once it’s ready.
First Live Speaking Event and Podcast
Held my first live speaking event on the 7th September to attract new customers. As mentioned in my post, I didn’t achieve my goal of making at least one sale, but I did get a great review and a chance to put my fear of public speaking behind me.
I also gave my first podcast interview to a group of new business owners. Not only was it a chance to show my expertise, I also learnt the questions and concerns new businesses have about online marketing. As they say knowledge is power, and the more you know your ideal customer, the better.
Secured a Facebook Live Session
I recently came across a post on a Facebook group who was looking for experts to coach her audience on a certain topic. I jumped straight onto it and she agreed.
Her group consists of online service based business who are ideal customers for online marketing coaching. 🙂
Best Ever Testimonial
One of my previous coaching clients sent me this:
This is what makes all the hard work worth it.
A good way of getting more customers is through referrals from previous clients. That’s why it’s vital you deliver great results and exceed your client’s expectations.
I’ve now become good friends with this customer, and we plan to meetup for dinner soon. 🙂
Getting Down To Business
Business Income Numbers
Note: the numbers below do not include previous client work. Also, these are revenue numbers only, I don’t share my business costs.
Let’s jump straight to the headline income numbers:
- Income Goal: £5,000 per month (by 31st Dec 2016)
- Current Income: £4,725 this month (only £725 is monthly income)
As you know, there’s two parts to my online marketing business: a) online marketing services and b) coaching.
Here’s how my income is broken down:
1. Online Marketing Services: £4,600 per month – made up of
- £600 for monthly marketing (new client – furniture company)
- £4,000 for new website (home improvements company)
2. Online Marketing Coaching: £125 (one client)
It’s easy to get excited with this number (£4,725) but the majority of the income is made up of a website development project (£4,000 to be exact), which is a one off sale and therefore means next month, with all things equal, my income is will go down to £725.
That will make me £4,250 off my income target, and is why I need to get more sales of monthly marketing services or coaching. I have 3 months to close that gap.
Even though it may seem difficult to achieve, I’m staying positive and keeping focused on getting there.
What that means in reality is both looking after my existing customers and building up a pipeline of potential clients who want to work with me.
It’s important I maintain a healthy list of leads, people who have expressed an interest in either my online marketing services or coaching.
Here’s a quick overview of existing leads, including the type of business and potential revenue amount for each one:
1. Online Marketing Services:
- Monthly online marketing services (specifically SEO + Paid Advertising) for same home improvements company: approx £2,000 per month
- Monthly online marketing services for Kids Clothing company: approx £600 per month
- Small website for a meditation company: £2,500 one off
2. Online Marketing Coaching: None
It’s not great. I need more leads.
I had a few leads fall through recently. With one of them, I thought there was an 80% chance of success, but they decided to go with someone else in the end. It was very disappointing but I need to put that behind me.
I currently have no coaching leads. To turn this around I have a live talk and a few Facebook live sessions planned in October.
Plans For Next Month
- Follow up with my four existing leads above.
- Deliver great results for my existing clients.
- Redesign my coaching website to attract more potential customers and enquiries online. This is an area I’ll be focusing on more over the coming months.
- Hold a live speaking event and Facebook Live session giving away free advice on online marketing.
- Attend at least two networking events.
- Begin to look at ways I can run my business more efficiently and potentially automate certain processes. As I take on more clients and my business grows this will be more crucial so it’s a good idea to start preparing for it now.
Bring on October!