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Kevin C. Whelan

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Marketing Consultants

December 9, 2020

Why should they choose you?

If you’re selling your expertise, you better have a damn good reason why someone should choose you over anyone else.

The best way to do that is to have rare skills and experiences. A speciality.

And yet, so many people are terrified of picking something small and specific to be excellent at. They want to do all the things for all people because it feels safer.

But when it comes down to it, the more alternative options there are, the harder you’ll have to work to find, win, and keep clients.

Find expertise that makes you rare and you’ll understand what real leverage is.

Think small and specific.


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December 8, 2020

The hard thing about marketing consulting

Being a marketing consultant is not easy.

There are endless layers—from strategic to tactical, creative to technical, and everything in between.

But the hardest part is not any one of those things. The hard part is the unpredictable nature of it all.

As marketers, we work hard to specialize, create frameworks, apply methodologies, and continually develop our skills.

But even if you find people with the same problem—which happens a lot when you specialize—the solution is never the same.

Reality is just too complex to have one answer for all problems, even if they’re highly similar.

Which means, as consultants, we need to apply everything we know to each problem—in a unique way—in order to get a solution that works for each individual situation.

The best you can do is work hard, run the system, and be ready to iterate.

Either your clients are bought into that idea from the beginning or they are not.

And if they aren’t bought into any of those three things, there’s a very good chance you won’t see results quickly enough to satisfy them.

So this is it: work hard, run the system, and iterate until you succeed.

It takes time and there are no shortcuts. That’s the law of marketing reality.

December 7, 2020

How important is it to like what you do and who you do it for?

Part of my approach to successful consulting is to specialize. To be highly compelling to a small group of people.

But here’s the thing: you have to like what you do and who it’s for.

If one of those is out of alignment, you won’t be successful long-term.

Business is too hard to things you don’t like for people you don’t like. It would be like wearing a weighted vest going up an already steep cliff.

Choose your work and clients wisely.

December 6, 2020

Be generous with what you know

You might think it’s worth saving some of your secret sauce for your paid products or 1:1 consulting.

That if you shared just some of your best tips, people would be keen to buy the rest.

But here’s the thing. It doesn’t work that way.

When people buy consulting from you, they don’t just want to know what to do and how to do it. They want your expertise applied to their situation to move them closer in a straight line.

When people buy your info products or memberships, they want you to organize your methodology and make it simple to consume.

I heard somewhere a quote that resonated with me. It was something like, ‘your expertise is like an encyclopedia. Your marketing should be like pulling out a page at a time and sharing it with the world’.

Don’t hold back and people will be even more likely to buy your expertise as long as it’s aligned with their goals.

They’ll know your ideas are good and will be willing to pay for the complete and organized clarity of your paid products or services.

Be generous with what you know.

December 5, 2020

When you should turn down clients

I came across this video clip of Seth Godin in a recent interview by Carl Richards.

He talks about knowing which clients are right for you and who aren’t. The more time I spend in marketing, the more true this appears to me.

I also love this section of the excerpt for the video, presumably written by Carl:

“Most people you meet will not be for you. They may look like they could be for you, but they are not for you. The more people that what you do is not for, the stronger your work will resonate with the people it is for.”

This is magic.

December 4, 2020

What’s your backstory?

Have you ever noticed how dramatic movies tend to start with lots of backstory behind the characters?

Think about Apollo 13, for example. The first part of the movie is focused on their family life, children, etc.

Why do they bother going into all that backstory? What does it have to do with the main plot?

They do it so you are emotionally invested in the characters. It gives them meaning and you can empathize with them a lot more.

I’ve been thinking lately about how best to use backstory in marketing. As a professional, I think it’s important to share some of your personal life inside of your professional identity.

Otherwise, you’re kind of like an interchangeable extra in the film. Nobody cares what happens to you.

Like the thousands leading the charge in Braveheart, we only really care about the characters we know.

If you want people to care, share some of your backstory.

December 3, 2020

How to measure the actual effectiveness of your marketing

When I work with clients, there are an infinite number of data points and layers we could look at to shape our work.

But at the end of the day, only a few high-level KPIs matter most as it relates to measuring the effectiveness of your marketing.

The KPIs that matter most at the end of the day are the following:

1. Number of leads

It could be subscribers, chat inquiries, telephone calls, contact form completions, appointments booked, it doesn’t matter.

All that matters is the total number of people who gave you their contact information and expressed interest in your business.

Subscribers are the grey area, but nobody subscribes to your list without some interest in what you offer, so I call that a lead if it makes sense for your business and is part of your sales funnel.

The main thing is that you captured their contact information.

2. Number of qualified leads

Now that we know the total number of inquiries (whose contact information you collected), we want to figure out how many of those leads are in the buying mode and qualified.

It could mean that they have the money, means, and interest in buying what you have to sell.

The definition is yours to create, but I wouldn’t consider subscribers “qualified” until they express actual buying interest.

3. Number of new clients/customers

Needless to say, this is a critical number.

If you sell products or services at various price points, break down the number of new clients by product/service so you have a better picture of where your sales are coming from.

This will matter more in the next few points, too.

4. Total marketing spend

So how much are we spending on marketing, all-in?

You’ll want to track that closely so you can figure out the next few KPIs.

Break it out by channel/type so you know where you’re spending your money, too.

I track all this in one single spreadsheet, by the way.

4. Cost per lead/qualified lead

Divide the total marketing spend by number of qualified leads in that period and you have your cost per lead.

You can do the same for total leads in general, or just qualified leads depending on what/how you’re measuring.

I mostly care about qualified leads.

5. Cost per new client acquisition

Divide the total marketing spend in that period by the number of new clients you signed up.

This is your cost per acquisition. This is the golden number and tells you whether your marketing is profitable or not.

But the only way you’ll know that is if you have a good idea of the next number.

6. Customer lifetime value

It’s crucial to have an idea of your lifetime value (LTV). Even if it’s a rough estimate.

There are too many ways to calculate it in this quick post, but a quick Google search will give you some formulas.

Break it out by service so you have a distinct LTV by service.

7. Weighted average expenses

Let’s say you sell consulting. It’s 80% of your revenue. You also sell a membership, which is 10%, and an eBook, which accounts for another 10% of total revenue.

I like to weight marketing expenses based on the total expected revenue in a business.

In this case, I’d allocate 80% of all marketing spend towards my consulting, 10% towards memberships, and 10% towards eBooks.

Now, I’m able to figure out my approximate cost per lead and cost per acquisition based on the weighted average.

It’s not perfect, but it works really well to give you a glimpse into whether you’re profitably acquiring leads and customers/clients for each service.

More on this some other time.

8. Profitability and payback periods

The last thing we look for is cost per lead, cost per acquisition, and payback period.

Are we acquiring leads and clients at a price we can sustain? When is our payback period (i.e. how fast do we get our money back)?

This should be obvious with some quick math based on revenue projections for the new business/opportunities.

9. Other secondary numbers

There are a ton of other things we could look at, such as marketing spend as a percent of revenue, total revenue, net new revenue growth, churn, capacity etc. but those don’t tell us quite as directly how well our marketing is performing.

You should still track those and many more things in one single spreadsheet.

And that’s it!

It all boils down to:

  1. How many opportunities did we get?
  2. How many new clients/customers did we sign up?
  3. How much did we spend to acquire them?
  4. Is all of this working out profitably for us?

That’s all that matters at the high level.

From there, we investigate where those leads came from so we can determine what’s working and what’s not.

We then go down the rabbit hole to find out how to get more opportunities and clients at a price we can afford.

Having these numbers gives us a high-level view of the health of our marketing.

There are many more KPIs you can look at in your marketing, and I share a spreadsheet template that I use in all my engagements inside of Mindshare.

Sign up if you’re a marketer looking to level up your consulting business.

If you’re a business owner, reach out and I’ll hook you up with the KPI spreadsheet (the place where results can’t hide).

December 2, 2020

Own the whole problem

Note: This post was the topic for today’s Mindshare Mentorship, a private podcast helping marketing consultants package, sell, and deliver their expert advice—not just their hands. Learn more and consider joining the community at Mindshare.fm.


When you get paid to do implementation work, you’re ultimately being paid to solve a problem.

Maybe it’s anything website or content-related. Or maybe it’s more broad, like anything marketing-related. Anything within that purview becomes your problem.

In other words, you own the entire problem of X for your clients.

The challenge when switching to advisory work is that you end up facilitating the solution instead of actually doing it for your client. That means someone still has to actually do the implementation.

But as an advisor, whatever your scope is, it’s still your problem to solve.

Regardless of the roadblock that comes up, you will move mountains if you have to.

That might mean finding new freelancers or agencies to implement, doing wireframes or proof-of-concepts yourself, training people do to things in-house, teaching people how things work, or anything else that needs to happen to get the problem solved.

After all, what you’re selling is a solution to their problem. Nobody pays for half a solution.

Personally, I charge a fixed price for what I do. I don’t want problems to get more expensive for my clients than anticipated. That just adds a problem to a problem.

If it means I need to put in overtime to get the problem solved, that’s the risk I take. I own it and find solutions.

From the client’s perspective, they get the assurance that for a fixed price, the problem of X is solved (marketing, design, strategy, leads, whatever).

The feeling of buying all-in services is very reassuring.

But if you throw your hands in the air and make any part of the problem your client’s problem, you’re providing an incomplete service.

“That’s not my job” won’t cut it if it’s part of the problem you promised to own.

People pay a lot of money to make their problems someone else’s. The more you do that, and the bigger the “problem” is, the more you’ll get paid.

 

December 1, 2020

All great consultants have a methodology

If Elon Musk can send rockets to space and back, you can create a systemized approach to the work you do for your clients.

It doesn’t mean you need to follow your process exactly the same way every time. In fact, you never will—that’s not how life works.

But it should provide structure and consistency that produces similar results each time you run it. It should also get more refined over time.

Sure, you will need to adjust for the particulars of any situation and do some maneuvering based on what’s happening.

But that doesn’t preclude you from having a process to work with that gets smarter each time you apply it.

All great consultants have a methodology. Especially, ones who work in a niche—that’s where it really takes off.

Get into a niche, formalize your process, run it a bunch of times until it reliably works, then package and sell it without your direct involvement.

That’s it. That’s the playbook for successful consulting in a nutshell.

Related articles:

  • What makes a good consulting methodology?
  • The compounding power of turning your work into a methodology

November 30, 2020

Good positioning hurts

Good positioning hurts when you first try it on. And it should hurt, at least a little.

Why? Because good positioning is tight and narrow. It’s specific. It solves particular problems for particular kinds of people.

It should feel like you’re leaving a lot of opportunity on the table.

And the reality is, you are. If you’re doing it right, you’re leaving MOST of your potential opportunities on the table by saying no to most things.

And yet, counter-intuitively, by saying no to most things, you say yes to many more.

The challenge most consultants have is they can help a LOT of people do a LOT of different things.

If you’re good at marketing, for example, you can solve marketing challenges for a wide range of clients.

The problem, however, is that your clients and prospects have choice. And the more choice they have, the more interchangeable you are.

Which brings me to the reason you want to have a narrow focus.

By focusing narrowly on one particular target market, and then solving one particular problem for them really well, you immediately remove 99% of the competition.

The choice for your clients becomes either choosing you—the one who only solves their precise needs—or all the other options who claim they can help anyone with anything.

So which will you be, the interchangeable supplier who claims they can help anyone?

Or will you be the consultant who appears out of nowhere with the exact solution your ideal clients are looking for?

The choice is yours to make.

P.S. I recorded a deep dive on this topic today in the Mindshare Community.

If you’re a marketing professional who wants to sell your expert advice—not just your hands—then I highly recommend you check it out and become a member.

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