Settled into Your Manhattan Office Suite? It’s the Perfect Time to Think About Marketing
June 25, 2018 in BUSINESS
JON-BACHRACH
June 25, 2018 in BUSINESS
Now that you’ve found the perfect Manhattan office suite, there’s no better time to focus on your marketing. We know. A lot of small business owners, maybe even you, have a love/hate relationship with marketing.
On one hand, you know it can get results — even if it’s just because you see other businesses marketing successfully.
On the other, a creating a professional marketing strategy may seem like a luxury when you’re overwhelmed each day by the operational needs of your business. Some business owners even view marketing as foreign or risky territory if they don’t have a marketing background.
It would be great if new customers simply found out about your business on their
But without consistent marketing efforts to fill your sales pipeline, that usually isn’t nearly enough. Ignoring marketing — or only paying attention to it sporadically — means taking a big risk with your future cash flow.
It’s time to start taking your marketing seriously, and you can start today.
If you’re one of the business owners or leaders who has struggled to market consistently, the first step is to identify what has stopped you in the past.
Do any of these objections resonate with you?
We all know at least one small business owner who seems to flaunt their lack of marketing acumen.
They may refer somewhat resentfully to those big competitors who have a “flashy marketing department” or “slick ad campaigns.”
This attitude comes from the idea that the best quality products and services get attention on their own from things like word-of-mouth and referrals.
Unfortunately, business owners with this mindset tend to end up with stagnant growth or worse.
If you don’t see yourself as a marketing person, you can change your mindset. Marketing is simply educating your potential customers on how your company can help them. Your future customers need the solution your business has for their problem
Marketing can be done well and
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Maybe you’re already convinced that marketing is important, but your plans keep getting pushed to the bottom of your to-do list as you manage the day-to-day.
If you believe that a lack of time is to blame for your lack of marketing, focus on fixing your schedule.
A few solutions to explore:
Some businesses will happily sponsor a local youth sports team when asked, or buy an ad in the local news when it’s on sale.
These types of marketing efforts don’t usually directly hurt your business. However, when marketing is too random and spontaneous, it uses money ineffectively — and you only have so many marketing dollars to spend.
You need a focused strategy. Take some time to think through what you expect to gain from your marketing using the steps below.
The term “marketing” can include anything from creating a business Instagram page to handing out a printed
However, it’s not too complicated when you start with clear objectives and work back from them.
As we mentioned
You probably already have an idea of where your businesses
A sales pipeline, sometimes called a sales funnel or marketing funnel, is basically the process your potential customers go through on their journey to becoming your customer. You can read a great summary of what “funnel” means in the marketing world in this Digital Marketer article, but most marketing experts identify four general stages in a sales pipeline: awareness, interest, decision, and action.
Does a certain part of your funnel have a blockage?
Maybe you know that too many of your prospects are choosing competitors in their final decision-making stage. A possible marketing goal could be something like this: In the next six months, we will increase the percentage of prospects that eventually become clients by 20%
You can insert your own numbers to make the goal clear, measurable, and attainable.
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“Key performance indicators” is a business term for the metrics that tell you whether you’re on track with your business goals.
If, like in the example above, your problem is too many prospects choosing competitors, your KPI could be percentage of clients who went on to purchase the product after their free trial.
You can choose one or more KPIs for each goal you’ve set.
There’s not a one-size-fits-all set of marketing tactics that will influence the KPIs you’ve chosen to focus on.
Keep in mind that the more focused you can be with your tactics, the easier it will be to measure success. If a certain tactic doesn’t seem to be affecting your KPI, you can move along to a different one.
Tactics for improving the conversion rate from free trial prospects to clients could be any of the following:
If those tactics don’t budge the rate, the problem may be something else: Maybe you’re attracting the wrong type of prospect to enroll in the free trial in the first place, for example. But the beauty is that by getting specific with your goals, making those goals a staff-wide priority, and choosing measurable efforts to try to address them, you have some real data to work with.
[content_upgrade cu_id=”767″]Need some help getting started with KPIs? Check out this list of important business metrics and see if any of them align with your new marketing goals.[content_upgrade_button]Click Here[/content_upgrade_button][/content_upgrade]
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