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Entries Tagged as 'Money/ROI'

5 ways to market if you don’t have a lot of money

August 25th, 2014 · Money/ROI

ways to market if you don't have a lot of moneyNo matter where I speak, who the audience is or even the topic I am supposed to address, this same question comes up:

How do you market your business if you don’t have a lot of money?

Well, the short answer to that is you’d better find some resources for marketing or you are in a lot of trouble. But, that doesn’t mean they all have to cost an arm and a leg.

In the meantime, while you’re scraping together the money to spend on marketing — try this budget friendly tactics.

Hang out where your potential customers hang out and be helpful. Do your clients read certain blogs? Then be there and share your expertise. Do they all run in local marathons? Be there, handing out clean, dry socks with your logo on them. Do they go to industry trade shows? Be there and host a free Q&A about their biggest problems. Don’t wait for them to come to you. Go out and find their watering hole.

Know your perfect customer and only take work from them. This requires incredible discipline but pays big dividends. Rather than taking clients for cash flow, ONLY take on those clients that you can delight. And who delight you by paying you a fair price.

Create a referral network by delivering the first referral. When you help someone, it is human nature that they want to return the favor. Why not set the example by making an incredible connection. Now of course to do that…you need to know who their perfect customer is. Which means you get to have a very meaningful conversation that’s all about them. See how the human nature thing is going to work?

Use handwritten thank you notes to show your appreciation. In today’s high tech world, a personal gesture like a handwritten note means a great deal. It doesn’t have to be long or fancy. Just from the heart. And if you can’t thank a client from the heart, you should fire them before they fire you.

Let them have a taste. Sampling is one of the most effective marketing tactics around. There is no substitute for actually experiencing your product or service. This is your greatest opportunity to earn their trust and their business. So do it right.

I can hear your collective gasp. Give away what you sell? Sampling is a golden oldie in terms of marketing tactics. The biggest buying obstacle any business has is the uncertainty of that first time.

Why not leapfrog over that worry by just giving them a taste? Walk through any grocery store or big box store on a Saturday and watch the marketing tactic at work.  This works just as well for service-based businesses even though they don’t have a physical “thing” to offer.

Bottom line on how to market without spending a lot of money – know who you can help the most and be relentless in your efforts on their behalf. Be generous and be grateful.

I know…I didn’t even mention social media or direct mail or cold calling.  Trust me.  If you try these 5 ways to market if you don’t have a lot of money — the rest will fall into place.

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Twitter and Facebook ROI

July 8th, 2012 · Money/ROI, Sales, Social Media, Strategy

This has to be one of the biggest questions banging around marketing conferences, blogs and social media gatherings.  “How do we measure the return on my investment (ROI) for the time, money and effort we put into Twitter and Facebook?”

To truly answer that question, you need to define your own ROI. If it is a dollar for dollar equation, then you need to be able to quantify/tie a value to the time spent, calculate the dollars invested and then put the proper tracking/measurement tools in place to link your social media contacts/connections to actual sales.

Are sales the only worthy ROI?  Probably not. Like all marketing — you start by knowing what result you want.

  • Are you trying to create a community that will tell the world about your new book, product or ?
  • Do you want people to sign a pledge or commit to a cause?
  • Do you want email addresses because your sales cycle requires a lot of education and time, so you want to create a drip campaign?
  • Do you want to identify like-minded business people so you can create a safe place to generate thought leadership?

I have nothing against sales.  It’s how we all pay our mortgages.  But I just want to remind you, there are many worthy outcomes of any marketing effort.  And that’s certainly true of Twitter and Facebook. As Stephen Covey taught us, begin with the end in mind.

This infographic from InventHelp (click here to check them out) begins to dig at the question and explore potential answers.  Take a look at it and then tell me — what do you want from your social media efforts?

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