How We Used Test & Measure Marketing To Boost Turnover By 323% At Fish Need Water
At a Glance
Business coaching helped Fish Need Water increase their turnover by 323% over a period of 2 years. As a result of the rigorous testing and measuring systems we introduced they were able to confidently increase their marketing spend by 10x. Combined with significant improvements in conversion rate Fish Need Water now have repeatable marketing systems in place that generate a stream of high quality leads every day.
“The most important thing about the coaching is it ensures you are continually looking at the key areas that need improving in order to run a successful business. It can be tough to take on these tasks when you get sucked into day-to-day business operations. However, it’s vital to be able to work strategically ‘on’ the business and continue to delegate if you want to grow. Parag and London Business Coaching has helped us in all these areas”
Anthony Sargent, Director
The Challenge
When I met Anthony Sargent and James Hall the co-founders of Fish Need Water it was clear that their innovative approach to the estate agency market had potential for massive success. However their marketing strategy wasn’t working effectively and they wanted guidance.
- Fish Need Water were growing slowly but relying too heavily on referrals. They lacked a structured systems-driven approach to their marketing strategy
- No written marketing plan
- Marketing ROI and conversion rates not consistently measured
- No financial forecasting systems or marketing budget
- Several marketing channels not utilised or not working effectively
- Customers said they didn’t trust the Fish Need Water brand
- Overall, a lack of marketing systems, structure and expertise meant that the company wasn’t growing as quickly as Anthony and James wanted
The Solution
In order to get Anthony and James’s marketing department performing better we agreed that implementing professional testing and measuring systems was the first step. Followed by working on conversion rates at each step in the sales process and across each marketing channel.
Analytics
- Introduce rigorous testing and measuring systems into all areas of the marketing and sales process
- Track number of leads, conversion rate and cost per lead daily
- Systematically test and add new marketing channels: PPC, SEO, flyering
Marketing
- Identify stronger USPs (Unique Selling Points) to differentiate Fish Need Water from competitors
- Use guarantees and video testimonials to build trust and credibility with new customers
Sales
- Explicitly define the sales process and test conversion rate at each point
- Focus on improving effectiveness of sales team: script calls, training on rapport building and communication skills, DISC (personality profiling) theory training, record and critique prospect calls
- Write marketing plans and marketing budgets each quarter
The Results
It took a lot of work but together we managed to completely redefine the way Fish Need Water approached marketing their business. The results were excellent and we saw turnover more than triple over 2 years.
Financial
- Turnover increased by 323%
- Property management fees increased by 240%
Marketing
- Consistent focus on repeatable campaigns with positive ROI
- Accurate measurement systems mean Anthony and James can now spend with confidence
- Consequently monthly marketing budget increased by 5 to 10 times
