How to Not Waste Money on Marketing

How to Not Waste Money on Marketing

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If you own your own service, you are most likely inundated with advertising and marketing chances and salesmen. You most likely get asked to sponsor occasions and donate to companies. Maybe you’ve even been hit up by the premium company attempting to get you to buy pens with your business name on them.

How do you understand what to invest your marketing dollars in, and what to pass on?

How do you prevent losing your money on marketing that isn’t going to lead to more clients and more sales? How can you guarantee you will get the “biggest bang for the dollar?”

The response is to go back to your marketing strategy and look at your goals. You will likewise want to look at who you identified as your perfect potential customers or target customers.

Then you merely assess these prospective marketing activities based on their ability to assist you to achieve your objectives, and their ability to put you or your company in front of your ideal prospects.

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While sponsorships and contributions are in part a goodwill activity and can be extremely beneficial for that reason alone, if you are assessing them from a marketing point of view you need to make sure they will provide you exposure to your perfect prospects and contribute towards reaching your successful objectives.

The value of the exposure you receive should be worth the financial investment you are making. Consider what it would cost to reach those potential customers in another way to assist figure out the worth of the direct exposure.

As far as acquiring pens with your business name, the exact same tests apply. Ask yourself how you will utilize the pens. Will they supply direct exposure to your perfect prospects or clients?

Will they reach your potential customers in a manner no other marketing activity can? For instance, if you are trying to find repeat organizations from your clients, and they have a pen with your name on it that they see and utilize every day perhaps they will be advised to regular your service.

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If you are preparing to do direct-mail advertising follow up to clients who have not done business with you in a while. A pen may be a nice premium to include in the mailing, and it will continue to act as a reminder long after the direct mail piece is read and got rid of.

However, do NOT order the pens if you do not have a plan for using them and a goal for what you wish to achieve. Just having pens with your company name without these two products specified is certainly a waste of your money.

Whenever you are questioning whether you should make the most of a specific marketing opportunity, ask yourself these 3 concerns:

1) Will it supply direct exposure to my ideal potential customers or target clients?

2) Will it assist me to achieve my marketing goals?

3) Is this direct exposure worth the dollars I am investing?

If you can answer “YES” to all 3 questions, and you have a marketing budget plan readily available, then you should seriously consider the opportunity.

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If your answer is “no” to the first 2 concerns, and the opportunity does not put you in front of your ideal prospects or assist reach your objectives, simply state NO to that particular marketing opportunity.

If the response is “yes” to the first 2 concerns, however, “no” to question number three and the opportunity is well-suited to your marketing strategy but the value simply isn’t there, you might want to go back and negotiate more exposure or a lower cost.

And, last but certainly not least, if you do not have a marketing strategy to assist you to examine these types of changes when they come to your method, you need one.

If you have not identified who your ideal prospects are and what you wish to accomplish with your organization you will most definitely waste important time and money on marketing opportunities that are not a terrific fit for your organization.

Actually, you will remain in danger of doing this every day.

Make sure your business has a marketing plan. A marketing strategy outlines the actions you mean to need to supply your services or product. Furthermore, marketing is crucial to your business’s success. Click Here To Learn More