Launching and scaling a new enterprise can be tricky. Not only do you need to reach your target audience but also convince them to invest in your product or service rather than one of the other countless options on the market. So how do you develop a marketing campaign that drives long-term business success? According to Money & Marketing Strategist for Visionaries at Carrico Ventures Erica Carrico, it’s by taking a step back from social media.
While trying to get a new venture off the ground without the help of online promotion can sound counterintuitive, this is exactly what Erica has done. And over the past four years, her seven-figure enterprise Carrico Ventures has helped thousands of women find their purpose and monetize their gifts by moving away from email marketing, funnels, and online advertising.
Erica Carrico: Money & Marketing Strategist for Visionaries at Carrico Ventures
“My clients have successful business launches because I move them away from the influencer mentality of the volume first. We look at things from the perspective of building relationships and intimacy, and offering a boutique experience for a select group of people,” Erica says.
Move Away From Internal Marketing
Erica says there are two forms of marketing — internal marketing and external marketing. Internal marketing involves social media, email lists, and blogs, and is designed to keep in touch with the people who are already in your online community. External marketing is everything else — workshops, podcasts, speaking engagements, and outreach via media publications.
“Most people who start their business by focusing on internal marketing end up selling to the same people over and over again, which is usually quite a small audience, especially at the beginning,” Erica says. “And typically, it’s only around 1% of your audience that will buy from you. So if you don’t have a consistent amount of outside leads, you’re going to tap out your audience within the first few months.”
Use the Power of Proof of Concept And Work On Word-of-Mouth Referrals
According to Erica, not overextending yourself is crucial when first starting a business. This involves small, well-thought-out launches rather than lavish, poorly-planned events that are more likely to fail and negatively affect your reputation from the get-go.
“It’s about getting those first five to eight clients so that you have what I refer to as the proof of concept,” she says. “A lot of that is done through networking, personal reach-outs, and asking for referrals. Personally, I keep my launches small and almost invisible to ensure that they are highly successful.”
Run Virtual Workshops
Once you work out your niche, organize intimate settings where you can promote your services to a limited audience. “The strategy that I teach is called signature workshop. And that is one two-hour workshop, which can be virtual or in-person, that you hold in two to three different places each month, consistently, every single month,” Erica says.
For example, if you have 10 people in a workshop all of them are already your ideal clients since they are already investing time and a small amount of money to have you help them solve a problem. she says. “So let’s say, I might charge $20 for people to come to a workshop and share with them how I can help them further in one of my programs. I have an 80% conversion rate at my workshops.”
Partner Up With Other Organizations
Building relationships with other organizations in your business niche can be an excellent springboard for promoting your service or product. “I built my business to six figures by holding two small, intimate workshops each month where I partnered with external organizations,” Erica explained.
By collaborating with different centers, you’ll end up filling your workshops, and there are also other ways such as reaching out to schools, conferences, and organizations that are in line with your target audience. Many are often looking for speakers on a variety of topics.
Reach Your Target Audience
While reaching out to your potential clients through external marketing is important, you shouldn’t forget to do the background work such as appearing on podcasts, getting published in the media, and running social media accounts. “I typically see most people start to hit those $10,000 months after running their external marketing for 12 months,” she says. “But then once you’re trying to scale to $20,000 – $30,000 a month, we start scaling social media, we bring in offers, and we start helping people hire team members.”
Erica runs programs and courses to help coaches, healers, holistic health practitioners, alternative therapists, creatives, and visionaries to grow their businesses to six figures and beyond, so they can have the impact and the income they want. “The aim for 2022 is to impact one million people to live their purpose, to start their business, and to grow it to where it’s having an impact.”