Where is your business leaking profit – and how can you fix it?
Does your marketing ever feel like a leaking bucket?
If your answer is “yes” then be reassured that you’re not alone. In fact, most businesses we come across are leaking profit in some area of their marketing.
Bryony Thomas of Watertight Marketing says “I am yet to encounter a small business that isn’t leaking profit in the way they approach their marketing. If they are not supporting every step in a person’s buying decision, then they are necessarily losing business.”
There’s no point in running expensive taps (what many people think of as “marketing”) into a leaking business bucket. Instead, start at the bottom and make sure your bucket (existing customers) has no holes before you address anything else.
The 13 Touchpoint Leaks™
A ‘Touchpoint’ is every interaction a potential customer has with your business. A leak occurs when your marketing is not aligned to capturing a customer at every stage of their buying journey. Having these leaks means you may lose potential customers – they will simply go elsewhere, not notice you, remember you or stay with you.
So, what are the 13 Touchpoint Leaks™ – and how can you spot them in your business?
If you can’t answer all of the following questions with a confident ‘yes’ – you are almost certainly leaking profit.
Leak #1 – Forgotten customers
Do you have a consistent customer communications that proactively addresses any service needs and keeps your business in their minds?
Leak #2 – Poor on-boarding
Is there a structured approach to communication with your new customers as they settle into their relationship with you, which demonstrates that your service is consistent with the expectations they had?
Leak #3 – No emotional connection
Does your visual and written style have a personal touch that’s friendly and allows people to make an emotional connection with your business?
Leak #4 – No gateway
Does your business offer a coherent set of products that lead helpfully from one to the next with the inclusion of a stepping stone that allows people to understand what it’s like to be a customer before they are one?
Leak #5 – No critical approval
Is there a clear way of educating, or helping your buyer educate, anyone who could veto the purchase decision?
Leak #6 – No proof
Are you systematic about signposting some sort of proof against every promise or claim that you make?
Leak #7 – Information overload
Do you have a steady stream of relevant information that invites people into finding out more?
Leak #8 – How
Is your content available in a range of familiar and novel formats so that people can engage with ease and enjoyment?
Leak #9 – Where
Are there at least three places to put your materials that you know your potential buyers already access?
Leak #10 – When
Have you made a commitment to timing the release of your materials so that people are most likely to notice it?
Leak #11 – Who
Is there a way of getting people talking about your business so that buyers hear something good about you regardless of who they turn to?
Leak #12 – What
Do you have an absolute clarity of purpose in telling people what your business does?
Leak #13 – No emotional impact
Do you strike an emotional chord with your potential buyer that means they can’t help but notice you and they feel compelled to take action?
The Thirteen Touchpoint Leaks™ framework is copyrighted by Watertight Marketing. As a Certified Practitioner I am licensed to use this in my consultancy work.
What can you do to fix your leaks?
Contact me to find out how a Touchpoint Leak™ Assessment makes sure you spend your time and money on marketing that works.