by Bridgett Hart
One of the most common questions I get from clients is where to spend their marketing money. “should I buy instagram ads or yelp ads? put an ad in the local newspaper or buy space in this local circular?”
It’s not giving an answer that’s the problem. It’s that it’s the wrong question. Instead, frame the question as “Where are my people (customers), what are they doing, and how/why are they thinking about my product?”
Then, spend your money giving them what they want and need where they are.
Perhaps you’ll find that the best place to invest your marketing budget is in a great referral program, or gifts for your top clients, or perhaps in events that bring them together with other people or resources that matter to them.
Maybe google or facebook or yelp ads are also a part of the right strategy, but if you don’t have any tracking pixels on your site, how will you know which clients come from where? SEO might help you, but if you already have fantastic organic search results, do you really need to invest a few thousand there?
Infusing your business with love means taking the time to think about who you want to reach with your business and meeting them where they are in their journey instead of focusing on what you want, hope to achieve, or have been dazzled by in a sales pitch.
I help clients work through this process so they can stop wasting money and start finding excited new customers with every marketing dollar they spend.
Schedule a call with me to see how I can help you infuse love into your business.
by Bridgett Hart
Do you already have an established small business but keep finding yourself stuck financially? Are you questioning what’s important to spend money on RIGHT NOW? It’s pretty common for small business owners to get themselves into bad money situations. Let’s take a step back and sort some things out together. Prioritize what’s important for your small business… ready, go!
5 Important expenses-whether you’re a start up or established.
- Money Cruncher (accountant). Having an accountant or CFO can save you exponential amounts of money; even more than you spend on them. They are also great at holding you accountable and breaking down your returns and investments.
- Branding and Marketing Research. Branding is extremely important. It defines your business and expresses who you are through your tone in communication, as well as visually. Don’t waste money on this being done poorly, or you won’t be remembered by customers.
- Tax professionals. Do you know how much money you can waste by doing your own business taxes? Tons! Why not take the stress off your shoulders and have someone ready to do all of this for you and give good advice? Do it, you won’t regret it.
- Equipment. Now when I say equipment, I don’t mean expensive, unnecessary equipment. Get what you need and what works. Upgrade as you grow and get in a better financial place.
- Outsourcing. Outsourcing can save you a great deal of money. You won’t have to spend nearly as much on a freelancing COO or PR person as you would if you hired them on full time. You don’t even have to provide them with benefits! One upside to outsourcing a COO, is that they can see the inner-workings of your business from an outside prospective; and create goals that work and identify issues you don’t even see!
5 Expenses to Avoid.
- Expensive Software Subscriptions. There are PLENTY of software options out there that can give you exactly what you need at a very affordable price; sometimes free! Do your research before you just jump on a software subscription with all of these extra features that you don’t even need. Don’t waste your money!
- Purchasing your “customers”. I’m sorry but do you want REAL customers? Or do you want to pay for them, just so people think you’re “popular”? We aren’t in high school, so let’s get you real customers, eh? Your following is only worth something if it’s organic, natural, and buying from you!
- Bad Advertising . “Do your research and determine if your customer profile matches that of the publishers audience. And don’t commit to long term anything” (from Chris Sonjeow of LoveBookOnline.com). He said it best. Research is important!
- Over the top office space. This is a no brainer. We all want our new business or small business to look successful, but it’s unnecessary and a huge money sucker. Stick with what you can actually afford and as I said above- upgrade as you grow!
- Non-measurable marketing. If you can’t measure your results when you create a marketing campaign, then don’t spend your money on it. Plain and simple. If you don’t even know what goal you are trying to reach, don’t go overboard.
Every business will have different needs, as you are all unique. Having someone to hold you accountable and keep you on track is necessary and important for your finances.
Are you stuck? I can help you, not only with operations; but with HR, marketing, finances, and more. Let’s chat.
