The Secrets of Marketing for Increased Earnings

“Try not to become a person of success,
but rather try to become a person of value.”
–Albert Einstein

In This Issue:

The Secrets of Marketing for Increased Earnings
by Monica Day

We’re a couple of months into our Copy Protégé Mentoring Program – and both Krista and I, and our protégées, are learning a great deal. I suspect that most new copywriters are facing some of the same challenges as the people we are working with – and marketing seems to top the list!

So I placed a call to my friend and colleague, Ilise Benun, and asked her to answer a few of the most commonly asked questions about marketing for you. Ilise and I co-presented a workshop on networking at the AWAI Bootcamp two years ago. She is an expert in what she calls “the art of self-promotion” and has a new product out called Pricing and Marketing Secrets.

Here are some of her thoughts on the topic:

Monica: A lot of CP readers are brand new to copywriting – and many have never been self-employed or had their own business before. So I the question we get asked a lot is “Where do I start?” Is there a first step you suggest people take when they are just getting started marketing themselves as copywriters?

Ilise: The first thing everyone has to do – but few are willing – is to choose a market. Simply put, you can’t market if you don’t have a market.

It’s a problem because no one wants to choose. In copywriting, almost everyone can be your client. People are afraid they’ll limit themselves and end up closing themselves off to potential work. It’s not true, though. What is true is that if you focus your efforts on a particular market, you are more likely to get business, not less.

Monica: I’ve noticed that picking a market is easier said than done for some people. Any suggestions, other than throwing a dart to a board and seeing where it lands?

Ilise: The first market you approach should be a relatively easy process. The best bet is usually to build on experience you already have. A lot of people don’t want to go back to the market they just left – they might feel burnt out on their old job and they’ve turned to copywriting for a fresh start. That’s understandable. But harder. When I work with people, I tell them to focus on three things when thinking about a market: What you know, what you love and where you have contacts. If you pick an area that has at least one of these three elements, it will be easier to get started.

Monica: What percentage of time do you suggest people dedicate towards their marketing efforts? Some CP readers are fitting in maybe 10 hours a week total towards copywriting while they hold down full-time jobs, while others are in with both feet, trying to make a go of it full-time. So it seems like a percentage of time rather than a set number of hours or activities to use as a guideline that could be applied to different circumstances might be helpful.

Ilise: I usually suggest you allot twenty percent of your time to your marketing efforts. And if you don’t have ANY work, then your marketing is your work.

Determining what your marketing efforts will be is also important. For example, working on a spec assignment is marketing if the goal is to get a client. But some people might not think of that time as marketing time. It definitely is.

Monica: What’s the #1 mistake you hear people making in their marketing efforts?

Ilise: Making assumptions about what the market wants and doesn’t want, combined with negative thinking. I hear people do this all the time. They’ll say things like, “They won’t hire me without experience, they already have people, they probably don’t use freelancers.” But these are all assumptions – and most of the time, they’re not based on truth or fact. They’re based on fear.

When you don’t have a lot of samples to show and experience, then the way you present yourself has to show them what your samples would if you had them. For example, a client might choose excellent customer service over the quality of the work. If you return phone calls and are very responsive and show you can be relied on, then the fact that you are not proven yet might be less important. They know they’re not getting Clayton Makepeace…but maybe they don’t need a Clayton Makepeace. They need a straightforward assignment done for a reasonable amount of money – but they need it on time. Convince then that you are responsive, and you’ll be on time and there’s a good chance you’ll land the job.

Many clients know that in exchange for paying a lower rate, they are getting less experience. Often, they are willing to help you in your learning process. Especially if they see that you are a gem in the rough – and will be easy to work with and willing to learn. You just have to find the clients willing to take this chance on you. To do this, you need to know your pitch and your market. But trust me, they are out there. And there are more of them than you realize.

Monica: In your latest resource, Pricing and Marketing Secrets, you talk about setting prices in conjunction with marketing efforts. I’ve noticed that both topics are tough for beginners – and they were for me, too. So…what’s the #1 mistake people make when pricing their services when they are just starting out?

Ilise: The biggest mistake is when you avoid the topic of money. It’s not always that you don’t charge enough – although that can be a problem, too – but more often, it’s how you approach the topic. Or rather, that you don’t approach it at all! For example, the first question you want to ask is “What’s your budget?” And yet few people do it.

The second mistake is related. It’s when you submit an entire proposal—but never inquire about the budget – and then you never hear back. Because you avoided the topic of money, you can’t be sure if you were anywhere near the ballpark…which can have a big impact on your success in securing the work. Your proposal doesn’t get a fair shot. Then, you not only didn’t get the work, but you wasted all that time that could have been saved by discussing money up front.

Monica: I’ve always heard – and in my experience it’s been true – that the first person who names a price loses. So clients and copywriters alike play a game of cat and mouse. I can see where it’s uncomfortable for a lot of people, especially when you’re new and not sure of yourself yet. So what do you suggest?

Ilise: If they won’t share a budget, and you don’t want to name a price, try talking to them in terms of a range. You can ask something like “Is it as low as $500 or as high as $5000?” This gives them someplace to go, but neither of you has named a price. That’s a great way to assess what value they are looking for, and what they are willing to pay for it – and it goes a long way in helping you know how to price your services and what to deliver.

Monica: From what I’ve seen out there, you and your partner Peleg Top are the first to combine the topics of pricing and marketing into one resource. What made you put these two areas together?

Ilise: It happened very organically…so it seemed natural to me. Peleg would probably say they go together because pricing is part of your positioning. The worksheets really help you know what you need to charge to actually earn enough money to cover your expenses and overhead, plus make a profit. Then, you have to use that information strategically to craft your marketing position and approach.

You have to know two important things before you can really market yourself properly: what you must charge to earn a living, and what the market will bear. Leave one of those out and you’ll quickly find your efforts and your results aren’t matching up. It might seem time-consuming at first – and very difficult – to think in these terms. Which is why we try to make it easy. But once you get the hang of it, it comes very naturally. And your business bottom line will soon reflect your marketing efforts.

Resource Referral: Another Way To Set Your Prices

We’ve recommended a resource to help you set prices many times – Chris Marlow’s Salary Survey. And we still maintain this is a great resource for figuring out where you fit in to the world of pricing for direct response marketing.

However…

There’s a new resource – the one mentioned in my essay above – that is a bit more personal and organic. It’s Ilise Benun and Peleg Top’s Pricing and Marketing Secrets. It’s based on a workshop presentation they’ve made many times – one that was so popular and in-demand that they turned it into CD’s and a workbook…plus transcripts for those of us who prefer to read than listen.

The beauty of this resource is that you figure out how much you need to charge for your services, based on your overhead, how much you need to earn and other factors they’ll help you identify. And then – here’s the brilliant part – you figure out a marketing plan and position that is geared towards helping you earn at the level you’ve identified.

Like I said, I think this is a fresh and brilliant approach. I wish it had been out when I was just starting out. Check it out and let us know if you agree.

Quick Copy Tip: Vindicated

I’m about to sound like I’m gloating…and cocky as hell. Please know…I’m not. But I am celebrating a little victory with you – and what I’ve learned from it.

As you know, I was in Vancouver last week covering the 2007 Investment Symposium for Agora Financial. It’s a gig I did two years ago…successfully. In fact, I did a few such conferences over two year’s time with good…and sometimes great…results.

But this business goes in cycles, and last year a lot of the conferences decided to bring along an in-house writer…someone already on their staff…to write the reports. Made sense to me. They were likely to be very familiar with the speakers, the list the reports went out to, and ultimately less expensive than hiring me since they are already on payroll.

I had no hard feelings. In fact, since I love Vancouver and vacation there anyway, I showed up at the conference anyway just to visit with friends and say hello.

But when they invited me back this year…saying that sales last year lagged…I had a second chance to prove the value of what a freelancer who is dedicated to nothing more for four days than adding value to the conference by drumming up more sales from your list could do.

By day two, twice as many of the conference highlights had been sold. That number is up to more than four times and counting…and an additional $100k+ went onto the client’s bottom line.

The lesson here is two-fold:

1) Sometimes, you lose business…not because you did anything wrong, but because the ideas and whims of the client changes. Sometimes you’re part of that change, sometimes not. You have to let it go, and maintain the relationship, in hopes that one day it comes back. And when it does…

2) Work twice as hard – with a smile – to prove your value when you get up to bat again.

In this case, I was invited to work on next year conference before this year’s conference even ended. Do I feel vindicated? Well, yes. And grateful. And well aware that the winds of change can change at any time. But as long as I keep adding value for my clients…the winds will always blow my way again.