“When it comes to marketing, we are caught between a tight budget and the need to know what to continue and what to change. We know that when you stop doing marketing you lose all the momentum. But we”™re having trouble figuring out how much is enough, too much, too little. Help!”
The goal is to increase demand by working on your marketing programs and there are lots of ways to do that. Develop a specialty to pull new clients in. Keep in mind that in marketing you need to have several initiatives going at the same time. Finding the money for marketing is essential.
Marketing is a broad field. It is the one discipline that most business owners feel overwhelmed by. It”™s hard to measure results, it takes time and persistence to get anywhere. There are lots of things to try and mistakes can be costly.
It”™s all about building a set of complementary activities that build awareness and increase the number of people who pay attention to you. Whether your business sells B-to-C (Business to Consumer) or B-to-B (Business to Business), marketing is all about grabbing individual eyeballs and keeping their attention fixed on your business.
Here”™s a simple list of ideas to get you started. Define one thing to accomplish in each area. Research the cost to do it. Decide on the order in which to do each.
Ӣ Email information campaign
Ӣ Direct mail campaign
Ӣ Key word advertising
Ӣ Logo, look and feel
Ӣ Print advertising
Ӣ Proposal development
Ӣ Public relations
Ӣ Public speaking
Ӣ Referrals program
Ӣ Sales force tools, handouts, scripts,
qualification process
Ӣ Telemarketing campaign
Ӣ Trade shows
Ӣ Vertical market plan
Ӣ Videos on YouTube
Ӣ Website development
Put emphasis on Internet marketing tools, as they are generally the cheapest, but don”™t avoid complementing those efforts with hard copy and direct mail. Avoid the mistake of leaving marketing to last. As you plan your company”™s overall budget, allocate resources and think about the upcoming year”™s plans. If your funds are very limited, pick one or two simple things to try.
While you know very well what your company does well, don”™t assume your prospects are as well informed. Break your customers into groups. Define common needs of each group. Gear a marketing message to the specific needs of each of those groups. Make your product or service look like it”™s customized to the group. Do research to find more companies with similar demographics. Ask your customers where and when they look for information about the products or services available from companies like yours. Use marketing tools to push customized promotions to specific prospects in the most likely venues.
Keep in mind that in marketing you need to have several initiatives going at the same time you”™re working to build brand awareness and recognition. It takes six to eight impressions to break through the noise and clutter so that a specific target becomes aware of your company. When budgeting for a marketing campaign, it”™s better to have multiple efforts targeted at a smaller group than to have one effort targeting a larger group. Start small, test to see what gets a reaction. Build on the successes.
Marketing can be the fuel for the future growth of your business. If your business has new prospects, it can grow. Without enough clients in the door it struggles. Put money, time and effort toward marketing in order to build a strong pipeline of new business opportunity. As clients come in from one successful campaign, that builds the funds for the next marketing effort.
Looking for a good book? Try “Incremental Marketing on a Micro Budget” by Michelle Chance-Sangthong.
Andi Gray is president of Strategy Leaders Inc., strategyleaders.com, a business-consulting firm that specializes in helping small to midsize, privately held businesses achieve doubled revenues and tripled profits in repetitive growth cycles. Interested in learning how Strategy Leaders can help your business? Call now for a free consultation and diagnostic process: (877) 238-3535. Do you have a question for Andi? Please send it to her: AskAndi@StrategyLeaders.com. Visit AskAndi.com for an entire library of her articles.
