Are you ready to solve complex problems with everyday materials and become the next MacGyver of marketing resources? Unlike MacGyver, you don’t really need to possess an encyclopedic knowledge on marketing to achieve your goals but you certainly have to tap into your resourcefulness.
So, how can you accomplish this task?
Whether you’re new to marketing or have years of experience, you probably realize the tremendous impact of the Internet on business, education and society. The key relies in harnessing the power of this new distribution channel that revolutionized the way we interact and do business today.
A somewhat different perspective on marketing resources
Today, I’d like to share with you 13 ways to help you maximize your outcomes and grow your business without spending thousands of dollars on expensive marketing resources.
1. Focus obsessively on your target audience. A lot of businesses waste valuable marketing resources because they haven’t spent enough time on getting to know and understand their target market. Get crystal clear about who your audience is. Choose the right market for your products and services to maximize results from all your marketing.
2. Stop competing with other businesses. Invest time into creating a strong unique selling proposition (USP) and positioning strategy that makes your business the only choice for your customers.
3. Create appealing products and services. Appealing to whom? To your audience; to the right customers. Bundle products. Group several products you are already selling and offer packages. Increase your average transaction value. No extra marketing resources required to do that.
4. Pick marketing channels strategically. Don’t spread yourself all over the place. You don’t need to be everywhere. Be where your audience is. If your audience is on LinkedIn, be there. If your customers like to hang out on Facebook, make sure you’re there too.
5. Choose your marketing weapons wisely. Use both online and offline marketing tactics. Don’t focus exclusively on social media marketing and other online channels. The power is in the mix. Organize live events, send out print newsletters, or mix print advertising with mobile marketing.
6. Improve your email marketing campaigns. Create relevant and compelling marketing messages consistently. Educate your subscribers. Make them want to look forward to reading your next newsletter. Do A/B split tests to see what increases the level of engagement and what not. Segment your list. Track your reports.
7. Use audio and video to promote your valuable content. If you’re doing podcasts, use Audacity to record and edit your shows. It’s a free software. If you love doing videos, use your smartphone and upload your educational material to YouTube. You don’t need to invest in expensive technology to promote your business.
8. Create a website that sells. There’s more to a website than great visual design, pretty colors and a couple of ads displayed in your sidebar. Build a website that engages your visitors and turns them into leads aka sales opportunities. Use WordPress, pick a theme and keep testing and tweaking as you move ahead.
9. Learn to write good copy. If you want your marketing messages to cut through all the noise and clutter and reach the right people, copywriting is a must have skill. This translates to: better content marketing and advertising with less marketing resources.
10. Provide group sessions. Think of ways to leverage your efforts and marketing resources. Provide webinars, group coaching programs and workshops. Stop putting a ceiling on your income and move those one-on-one clients into effective group coaching models (e.g. master class, support group, mastermind, online group).
11. Build strategic alliances. Grow trusting joint venture partnerships with like-minded entrepreneurs and business owners. Strategic alliances are a powerful way to gain access to new business opportunities, exchange ideas and grow your sales.
12. Raise your prices. Increase the value of your offer and increase your prices. Don’t apologize. Don’t blame outside circumstances like inflation for example.
Here’s what billionaire investor Warren Buffett had to say in regards to businesses on their ability to raise prices:
“The single most important decision in evaluating a business is pricing power. (…) If you’ve got the power to raise prices without losing business to a competitor, you’ve got a very good business. And if you have to have a prayer session before raising the price by 10 percent, then you’ve got a terrible business.”
13. Reactivate your lost customers. How many of your clients have gone missing? Reach out to them. If you’ve done a great job in the past, if you provided high quality customer service I’m sure they’ll be eager to come back. This is a fantastic way to increase your sales while using existent marketing resources.
Doing one of the above will increase your cash flow. Doing all of them will take your business to a whole new level.
Suggestion:
Pick one or two marketing tactics and implement them. Once you’re done with that, move on to another one on the list.
And if you really want to boost your profits and increase client retention, schedule your marketing session. Our team will help you implement proven marketing systems, strategies and tactics — such as the ones I’ve covered in today’s article.
You don’t need to overspend your marketing budget to build and grow a sustainable business. On the contrary, limited marketing resources will force you tap into your resourcefulness, maximize your potential and solve complex problems with everyday materials. A duct tape, compass and Swiss Army knife might as well help you turn your business into a huge success.
What other ways do you use to grow your business and increase client retention? What’s your advice to business owners with limited marketing resources?
