Don’t Just Invest $$$ in Marketing, Invest Time Too

Excerpt – Every business needs to engage in marketing activities, but the plethora of terms and options can be overwhelming for many business owners. Understanding the distinctions between SEO, PPC, and CTR is crucial when investing time and finances into marketing efforts. Measuring these efforts to determine their effectiveness in driving revenue to the business is essential.

1-minute read.

Marketing Can Sound Like Alphabet Soup

Marketing is a common area of struggle for many businesses due to the ever-changing landscape, as well as the abundance of companies making promises, some false, or using unfamiliar jargon. To optimize your marketing endeavors, consider the following tips:

Do your homework: Research various vendors that can assist with your marketing efforts, whether handling social media posts, improving SEO rankings, or creating ad content. Understand the cost, cancellation policies, services provided, and additional requirements upfront to manage expectations effectively.

Track results: Implement systems to track the source of customer inquiries or purchases. Utilize Point of Sale and CRM (Customer Relationship Management) systems to identify which marketing channels drive results. Tracking allows you to accurately measure Return on Investment (ROI) and make data-driven decisions.

Take a measured approach: This takes some patience. Instead of adopting numerous new marketing strategies simultaneously, focus on a few at a time to gauge their success. Trying fewer channels allows for better measurement and optimization of each strategy.

Be open to change: Recognize that what worked in the past may not yield the same results today. Don’t hesitate to reallocate resources from underperforming strategies to more promising ones. Additionally, avoid using stale content repeatedly, as it may lead to customer disengagement.

Measure your Return on Investment (ROI): Calculating ROI is essential to assess the effectiveness of marketing campaigns. Divide the amount spent on a campaign by the revenue generated to determine the ROI. This metric guides further investment decisions towards initiatives with the highest ROI.

But…not all marketing activity can be measured in ROI: There are certain marketing activities that will not lead to direct, measurable ROI numbers. These are activities that build your brand awareness. Maybe you’ll attend an expo – not to make sales that day, but to meet people, network, pass out your business cards, and educate people on your services or products. Some marketing activity will drive direct sales now, while some should focus on building the credibility of your brand to drive sales later.

Marketing Matters

Marketing should be treated equally as importantly as managing your company’s finances. Success in marketing relies on thoughtful planning, targeted execution, and meticulous measurement of results. By partnering with the right vendors and implementing these strategies, businesses can enhance their marketing efforts and drive sustainable growth.

Contact Flourish Today

Having an outside perspective is a valuable tool to identify and help with practical strategies, saving you time, money, and headaches! So, why not use Flourish’s network to help you grow?

As a business consultant, I’ve spent years helping business owners grow their businesses with a flexible, personable, non-judgmental approach. To schedule a complimentary consultation. Email Info@FlourishBiz.Consulting, call 480-980-6066, or use the contact form to reach me.

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Flourish Business Consulting is small business consultancy firm based in Phoenix, Arizona, with local clients here in the Valley of the Sun and all across the state. Flourish provides small business consultancy services to support every aspect of your organization.
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Flourish Business Consulting
ABOUT
Flourish Business Consulting is small business consultancy firm based in Phoenix, Arizona, with local clients here in the Valley of the Sun and all across the state. Flourish provides small business consultancy services to support every aspect of your organization.
Social
FOLLOW US

© Copyright by Flourish Business Consulting. All rights reserved.

© Copyright by Flourish Business Consulting. All rights reserved.