Marketing is the key to business survival and growth. For those of you that requested my 40% Small Business Marketing Strategy, time management in marketing, was allocated according to what method was the best to reach our target audience.
In my initial conversation with new clients I ask the following questions:
- What are your current marketing strategies?
- How did you select those marketing strategies?
- How long have each of these strategies been a part of your marketing tool kit?
- What is the cost of implementation for each of the strategies?
- How much time do you spend in each area?
- How many prospects have you had from each source in the last three months?
- How many of these prospects, from each marketing effort, have become clients/customers?
I am seldom surprised with the answer I receive: “I don’t have all that information to give you”. I usually get a list of 3 to 5 marketing strategies. The method varies with the business owner, but the typical ones are networking groups, direct mail, and referrals. A few of the other possibilities may have a presence in the marketing effort but there is very little time spent in those areas.
The most bothersome and frequent answers for client sources are: “I don’t know exactly where my customers come from” and “I only do direct mail (or another single strategy) and that is my best source”.
Several days ago I wrote about the changing marketing methods and the need to adopt new methods as the consumer access methods changes.
I recommend a tracking system that is examined every three months for each marketing effort. After a six month period, (two evaluations), if the results are not providing a positive return, then it’s time to make a change. Remember the saying: “doing the same thing every time and expecting different results, is the first sign of a no growth business”.
Now get ready for 2013; answer all the questions as part of your 2013 marketing plan development process. Work with your coach in this process and then together re-examine your target market, determine a marketing budget and select 5 strategies to implement. Remember, accountability to yourself and your coach is part of the equation for sustained growth.
If your business isn’t moving fast enough consider the turtle….It can’t move at all if it doesn’t stick its neck out.
Nick J. Petra CFP Helping you grow your business is our only business© call to find out how we can work together to increase your bottom line. We can work with your business anywhere in the USA.
Make it a Successful Today! www.strategicduck.com