Types Of Marketing Strategies That Make Your Profits Jump Immediately
There are several types of marketing strategies that will help improve your business. Sometimes finding which strategy works best is trial and error. This due to the number of strategies that are available.
Here is the problem everyone seems to be an expert in this field. And, as a business owner, you might feel that everyone has their hand out wanting your profits for themselves.
How many times have you paid for a marketing strategy that didn’t work? How many times have you heard it just takes a little longer?
I owned a retail shop once. It seemed like every week someone would find their way into my shop and try to sell me something that they felt like I needed.
However, what I found is most had no idea what my business was all about. Sound familiar? So my take on this is, how can someone suggest something to fix your marketing problem when they don’t know exactly what is you do?
I know I am asking a lot of questions. However, you know that what I am asking is true. If it hasn’t happened to you yet it will.
Here are a couple of types of marketing strategies that might help without breaking the bank.
Table of Contents
- What is the Plan?
- Shoot for the Goals
- Where you at?
- Know your product
- Who are You talking to?
- What time you coming
- Hold Your Spot
- Don’t Quit on me
- Final Thoughts
What is the Plan?
Without a plan, you are guaranteed to hit your goals every time. I’m sure you have heard this before. However, it is probably the truest statement in business today.
Throwing a bunch of money on marketing without goals will never work to its fullest intent. So what are you selling? Are you selling a product, yourself, or someone else’s product?
Here is a hint, no matter what you are selling, or where you’re selling it, you will always be selling yourself first and foremost.
With that said, the first business marketing strategy that you need to develop is you. It doesn’t matter if you are just starting out or you have been around the block for a while, look at ways you can sell yourself.
We live in a different world than before, so it is more important today than ever to have a plan that involves the selling of you first.
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Shoot For the Goals
When I mentioned goals, I’ll bet the first thing you thought was your business goals. However, your personal goals are just as important. Do you set daily goals?
Are they written down and checked daily? What are your weekly, monthly, or annual goals? I’m sure for your business you have a business plan that lays out your goals.
But, do you go over the goals and change them as the need arises?
You are probably asking what does this has to do with my marketing strategies? Well here is the deal, I could easily ask a bunch of questions and you can read and agree that you should do that.
On the other hand, I am trying to open up your mind to think about your approach to marketing. Marketing is easy if you know your target, your expected outcome, the amount you want to spend, and your product. Now hopefully I just sparked ideas for goals that you don’t have or know yet.
For example, If you need to make $10,000 a month in order to pay your bills and to pay yourself in your business.
How do you get there consistently? The first thing is to break that number down to how many days a week are you working?
Then, take that number and break it down to how many hours per day are you working? Now in business, you know as well as I do that every hour is not the same are far as sales are considered.
But this will give you an average of your income. With this goal set, you can use the information in your marketing strategies to improve areas that are weak.
This is just one example of a goal that you need. You should break this goal down even further as far as personal goals.
For example, What do you personally need to accomplish today in order to reach your daily income goal? What do you need to do to reach your hourly goal?
My intention in this article is not to dig deep into goal setting. That is another topic for another day. I hope you get the idea of where to start. and, those goals are the foundation of the success of your business.
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Where You At?
What if any strategies are you currently using in your marketing today? Are you utilizing social media? Do you send out a print mailing?
Do collect emails from all of your customers? What is your website address? The main question is how are your customers finding you?
Ok enough questions. There many ways to get your name out to the public. Some are very inexpensive while others are extremely pricey.
For example, I have a real estate investment company that I operate as well as other businesses. I wanted to build it out fairly quickly. So, I contacted a mailing company to send out postcards.
This was very expensive. They were really good at showing me the analytics to prove this marketing strategy was working. On the other hand, I was seeing something totally different.
I was looking at ROI(return on investment) and they were looking at how many phone calls I received. those two different approaches did not add up in my book.
So, as you can see it is very important to where you are most effective in your market. so the main question that needs to be asked is, how are your customers finding you?
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Know Your Product
No one should know your product better than you. It does not matter what you are selling. The best way to choose a marketing strategy is to know what you are selling.
When you are an expert in your field or service. People will flock to you. With that said, consider writing blogs on your product or service. Or, you can simply brag about your product or service via social media.
This free platform is the best way to get started on a budget with your marketing. Personally, I would not boost any post that you make on social media.
Learn how to advertise on social media before you spend any money. It will save your budget in the long run.
Who are You Talking To?
Who is your target audience? News flash it is not everyone. I’m sorry if you think that the truth is, there is a sweet spot in your marketing that your main audience comes from.
If you know that audience you can target your marketing more effectively and receive a higher ROI on your efforts. This is where analytics comes into play.
And, if you have to ask what are analytics you have a lot to learn.
That is to say, what is the age range? Male or female? Income level? Shopping habits? These are important when it came to marketing. A detailed plan for your marketing efforts and the more you can narrow you can make your audience search the more profits you will reach.
Going back to my investment company story. When I set up the marketing, the company that I chose told me they had worked with plenty of real estate investment companies before.
So, I trusted them with the target audience that I needed. Now don’t get me wrong I didn’t lose money on this type of advertising.
However, I didn’t quite see the full results that I should have received. To further explain, they suggested that I send a total of 5 mailings out to the same group of addresses.
One every two weeks. So, I was sending 5000 postcards to the same recipient every two weeks. This cost about 900 per week for postage above the cost of printing and mailing.
I saw a few results with the first three mailings. Consequently, the last two mailings were a waste of money. However, the postcard company insisted that I received more phone calls therefore it was profitable according to them.
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What Time are You Coming?
Another marketing strategy is timing. Did you know that there is a sweet spot on social media as far as what time will your post be seen? And each social media site has different times.
This an important analytic to know if you are using social media as part of your marketing strategy. It is one thing to take the time to write a post. However, it is more important for it to be seen.
Unless you are advertising on social media your free post is the only thing your customer will see. So timing is critical in order to be seen.
Hold Your Spot?
Have you ever heard of Google Business, Bing Places for Business? These two search engines account for approximately 90% percent of all search traffic.
So, how do you capitalize on these search engines in your marketing strategy? There are of course several ways to take advantage of this marketing.
First and foremost, is you need to let Google and Bing know who you are and where you are located. Secondly, If you have a website, SEO is the best way to get your site viewed on the first or second page of a search engine.
Now, this sounds easy, and if it was then everyone would be doing it. Google changes the algorithm so you have to work to stay on top when you get there.
For example, you need to show that you are an authoritative site meaning you need the traffic to your site. With that said, Local SEO is the easiest to rank for.
So, if your business is just local you can rank your website easier than if you operated a global website. By the way, ranking a website is free marketing which to me Free is the best.
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Don’t Quit On Me
It is easy to think that once you get things working on all cylinders that you can back off of your efforts. Honestly, this is the worst approach that you can take.
Once you have a marketing strategy that is working increase your efforts in that direction. However, continue your trial and error on the other marketing techniques as well.
I always say keep throwing things at the wall to find out what sticks. One thing that I have noticed personally if you stop your marketing efforts your customers will forget you within about 2 weeks.
So keep that in mind if you decide to take a break. Once forgotten you are basically starting over.
I have tried to show you some types of marketing strategies that are simple to use. Such as setting goals, social media, target audience, product knowledge, and SEO.
However, all marketing takes effort. Remember to stay consistent with your efforts and you will see results.
Results of equal revenue that was not had before you started. Think of marketing as a snowball on a hill. it might take some effort to get it started rolling.
But, once you get it rolling it continues to grow as long as it is rolling. So keep rolling snowballs and you will be successful in your marketing efforts.
Thank you for reading and I hope I was able to leave something for you. If you have any experience that you would like to share or want to leave a comment or a question. Leave them below and I will certainly get back in a timely manner.