The 2 factors for implementing effective marketing strategies
Choosing a marketing strategy for your business is a big decision. For solopreneurs and small business owners, it can be especially daunting. Without the amount of resources a large company has, you may feel like you are starting at the back of the pack.
As long as you do the work to identify the right strategies to invest your available resources in, you will get the results you want, you just have to be willing to make that investment.
And when it comes to resources, you really only have two choices: time or money.
To grow your revenue, you must invest in the right strategies, either with TIME or MONEY. There are no other ways to get results.
Are you investing the right resources in your business?
This blog is a summary of the related podcast episode:
Click here to listen to the tips mentioned in this article.
DEFINING YOUR STRATEGY
In order to determine the best strategy for your business, you first need to answer three questions:
- Who is your ideal client?
- Where is your ideal client currently looking for solutions to meet their needs?
- How do you convert them into your clients?
IDENTIFYING RESOURCES
Once you have your strategy in place, you need to decide how you will implement it to attract clients.
If time is the resource you have more of, you may opt for organic marketing, getting your message out to your target segment(s) through your own efforts. This means you are the one creating and sharing content. You can find some tips to help with that here.
If you are short on time but have money available, then you can invest in paid advertisements or contractors to help you promote your business. This may help you get things done faster, but you need to make sure to define clear goals to safeguard your investment.
MEASURING SUCCESS
I hate to break it to you, but there is no guarantee your strategies will work — you just have to be consistent and pay attention to the results (good or bad). Make sure to set some KPIs (key performance indicators) and a timeframe to see if your efforts are paying off.
If you want to run your business effectively, you need to choose the right strategies and identify what resources you have available to invest. If you are unsure of which direction to go in, schedule a free assessment call to figure out how I can support you: Click here.