Why your marketing should be making you money
not just another business expense.
When it comes to marketing your business, you need to think beyond a few Facebook ads or hours of time that you spend for little return.
Your business marketing needs to make you money
For every dollar you spend on marketing your business you need to get a return on that dollar plus more. This applies to both direct and indirect marketing.
Direct marketing cost is when you spend actual dollars for the marketing activity such as Social Media Ads, paid directory listing, paid influencer endorsement etc.
Indirect marketing cost is a course you buy to learn how to market your business, product given to influencer for endorsement, bartering of your services etc.
All marketing costs need to bring you in more business than the amount of money paid.
3 Marketing Mistakes Business Owners Make
Often business owners are very passionate and competent in doing the delivery part of the business however working ON the business is not always a skill that they have.
Marketing is a classic skill that many business owners need to work on.
Here are the 3 most common mistakes I see when it comes to marketing that many business owners make:
1. Build it and they will come – No Marketing at All
2. Hit & Miss Marketing
3. No Marketing Strategy
Marketing Your Business
Marketing is the lifeblood of businesses if you are not continually attracting new business your business will not grow. New customers are wonderful, but you also need to look after your current customers and encourage them to buy more from you. There is nothing worse than losing a customer because they went to your opposition because they didn’t know you sold “IT”.
Your customers, even your most loyal customers may not know all the services or products that you offer; they may not have had a need for them in the past. We all see red cars when we have bought a shiny new red car. Marketing your business helps you be seen as that red car supplier before they buy the red car that is what your customers desperately want.
Hit & Miss Marketing
We have got a few hours, its the beginning of the month, the phone is not ringing, so we think we should do some marketing. Hit and miss marketing is when you go full steam ahead for a short period of time and then stop. It is very common for business owners to do this, as we are trying to fit marketing in and around everything else, that we are doing in the business.
Did you know that it takes approximately 20 touchpoints before someone will buy the solution to their problem? The problem with hit and miss marketing is that you are giving them multiple touchpoints in a small amount of time and then you are gone.
Now that the potential buyer is ready to buy you are nowhere to be found and they are forced to go to your competitor because they are available to provide the solution.
If you only have limited time to do your marketing, make sure you have a marketing strategy and use a scheduler to spread out your posts.
Want to know more about marketing your business? Contact Cathy Smith from CATCO Enterprises who has been helping businesses make more from their marketing for 19 years. Download our free 9 point Lead Amplification Framework or listen to Small Business Talk Podcast.
Kind Regards, Cathy Smith