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Marketing Can Kill Your Business?

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Marketing Can Kill Your Business?

Successful marketing strategy takes simple discipline that every business owner has.  Employ these steps to ensure better ROI on your marketing time and effort.

 

  1. Focus:  Narrow your target market to a more concentrated group of potential customers.  You can’t be everything to everybody, so be the champion of a smaller group.  Use a target market analysis worksheet like this one to help define your optimal target market.
     
  2. Measure:  Find your competitive advantage.  Compare your efforts to that of your competitors and find creative ways to articulate your uniqueness.  As the adage goes, “If you’re not unique, you’d better be cheap”.
     
  3. Evaluate:  RAR is crucial:  Review your marketing efforts regularly. Assess what’s working and if change is needed, Refresh your marketing activities.   Marketing Metrics Made Easy has great ways to capture the return of your marketing investment.  These types of calculations will help you better determine where your time and money should go.

 

These steps should be part of your continuous improvement process and there are a ton of free resources to help you.  Visit with your local Small Business Development Center or SCORE (Service Corps of Retired Executives) office.  They offer free business counseling. 

 

Other good online resources for marketing help include: 

 

Effective marketing practices are easy to create once you focus, measure and evaluate your efforts.  For more help with this and other crucial business areas, visit the Collin SBDC for free consultations.

 

Have you tried any of these methods?  What’s working for you?  I’d also love to know of resources in your area that other business owners can use.  Email me!

Marta Gomez Frey
3 REPLIES 3
Contributing Solution Provider

Re: Marketing Can Kill Your Business?

Marta,

 

Great tips! I especially like how you give links to many valuable resources and documents.

Maureen Dudley
Dudley & Nunez Communications
Master Certified Solution Provider
Contributor

Re: Marketing Can Kill Your Business?

Thanks Maureen!  What kind of business do you have?

 

Marta Gomez Frey
Not applicable

Re: Marketing Can Kill Your Business?

I have not heard the "not unique=cheap" adage before -very clever! I'm sharing this post with some folks, it's so true Marta! A great perspective on evaluating your marketing efforts, know what works (and for so many small businesses it does not have to cost a lot! - educate yourself!)