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GETTING TRACTION
IN YOUR BUSINESS
TRACTION
WHAT IS TRACTION?
• It is proof that somebody wants your
product or service.
• It communicates momentum in market
adaptation.
SIGNS THAT YOU HAVE TRACTION
Your target market is
becoming aware and buying
your product or service.
You have
ongoing
revenue.
You are beginning to see
some success from your
business.
A sign that your
company is
taking off.
HOW TO GET TRACTION
THE 40%
40 RULE
%
Spend a minimum of 40% of your time
gaining traction.
SET A TRACTION GOAL
WHAT DO I WANT
TO HAPPEN?
• Define what traction
means to you?
• Set a concrete goal that
is measurable.
FOCUS ON THE RESULTS
Marketing vs.
Traction
Test Your Efforts
Measure Your Results
IDENTIFY THE TRACTION OPPORTUNITIES
There are literally hundreds of possibilities.
Which one will get me closer to my goal?
Some will work for some product or services
and some won’t.
STEPS TO GET CLOSER TO THE GOAL
Determine those first steps.
What do I have to do to implement the
traction option?
Validate the methods.
VALIDATION PROCESS
Determine the following:
1. How do I gather my audience?
2. What is the cost involved?
3. Will my target market accept this kind of
“sales” effort?
Now test your chosen option.
THE FINAL STEP
Select & Focus
After testing each traction
opportunity, select the ones
that are most promising.
Those that will help you
reach your goal.
Concentrate your efforts on
those.
SESSION GOAL
to show the importance of having traction and to have you examine
in more detail your marketing options
“The fundamental activity of a
startup is to turn ideas into
products, measure how
customers respond, and then
learn whether to pivot or
persevere.”
TRACTION options
Give a Speech
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Know your topic
Provide value to your audience
Invite your target market to attend
Look for sponsors, such a supplier, to help gather
your audience.
Value based Newsletter
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•
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Provide value to your audience
Utilize permission marketing
Interruption marketing fails because it
is unable to get enough attention from
consumers.
TRACTION options
Trade Shows
•
•
•
Do they fit your target market?
Are the booth and materials needed a cost effective investment?
What’s the plan to work your booth?
Publicity
•
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Send a request to local talk shows.
Tape them and use them in other marketing.
Content Marketing
•
•
•
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Content marketing is about creating interesting information your customers are
passionate about so they actually pay attention to you.
It must inform, engage or amuse.
Remember, your customers don’t care about you, your products or your services. They
care about themselves.
Your message has to cut through the clutter and make an impact.
TRACTION options
Strategic Alliances
•
•
•
Select those you want to do business with.
Check their references and past performance.
A good alliance will allow for joint traction-gathering efforts.
Create an Advisory Board
•
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•
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A group of 5 to 7 people that you know and trust.
You share your story and vision with them
Ask for their support to serve on your advisory council
Purpose to give you advice, help, and to open doors
Meet every other month for breakfast for no more than 1 and
a half hours.
May require confidentiality agreement, you want to be honest
with them as to your progress and financial situation.
TRACTION options
Sales
•
•
A fearful word for many small business owners…”Sales Calls”
Two Categories:
1. Cold Sales – calling on someone you don’t know
• Make an impression to make the sale
• Example: the 250 challenge
• Create your story:
“Is the owner in?”
“I would like to leave some information and introduce myself.”
One of two things will happen: either you will say “thank you” and leave
your information or you’ll have a chance to make a presentation.
2. Warm Calls – in person calls to your existing clients
• Keeping current customers is easier and less expensive than finding a new
one.
TRACTION options
Networking
•
Networking is an ongoing must for all business owners; the secret is to make it an
effective process.
1.
2.
3.
4.
5.
6.
The goal is to establish meaningful relationships where you help each other
Try to end up with a one on one meeting – coffee or lunch
Set up 2 per week
At the meeting, share your stories and ask “How can I help you in your business?”
Ask to add them to your database and to your email list.
The same day, send out a hand written note thanking them for the meeting.
TRACTION options
Start a Business Support Group
The concept behind a Business Support Group is:
1. To provide a platform to discuss current business issues
2. To become advocated of each other’s businesses so that helping each other grow
becomes a main focus of the group.
3. To establish business relationships with others who have the same value system
and service philosophy that you have.
Simple Format:
• Gather 15 to 20 members from different professions
• Start with 2 – 3 business contacts you know and ask them to bring members.
• Discuss what’s happening in your own industry. Ask for help with any issues.
• Networking will evolve outside of the weekly meeting
TRACTION options
Focus Group Marketing
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Gather members of your target market by extending an invitation to participate in a
focus group.
State the topic(s) to be discussed i.e. issues affecting the industry, most difficult
marketing problem the owners have, etc.
You will need a room for your meeting as well as a continental breakfast, if a morning
meeting. Some focus group offer a small gift ($10 Starbucks card) as a thank you for
attending)
This is not a sales seminar, but an information gathering and sharing process.
TRACTION options
• Blogs
• Branding- tag line-logo-colors
• E-mail marketing
• Building and telling your story
• Social media
• SEO
• Direct mail
• Onboarding a new customer
• Visual marketing
• Differentiation
• Advertising
• Touches (80% of sales are made on
• Selective community involvement
the 5th to 12th contact)
• Creating an effective Data base
• Referrals
• Having a mentor
• Using a pitch deck
• Your web site
• Word of mouth marketing
campaign
BELIEVE
If you want an apple, don’t wait
for it to fall into your hands.
Climb the tree and get it!