Business owners often find it difficult to know whether their marketing tactics are working. This can be especially tricky when you use a combination of marketing activities simultaneously, or if using personal-contact tactics such as networking.
Recently I was asked:
"We are just starting a cold calling process and I was wondering if you had any ideas on what publications we could use to track down businesses based on industry, turnover, staff numbers etc."
- Brendan.
One of the most common issues I'm asked about is how to raise the profile of a business to attract more clients.
When I'm speaking with clients who are looking for ways to expand their business the conversation often comes around to the possibilities of using agents, distributors, licensing arrangements or a franchise.
No matter what business you are in there is one common factor - communication. Whether it is verbal, visual, on paper or electronic, having clear communication is a must for any successful business. This can be even more challenging when dealing with other cultures, nationalities and lifestyles.
More often than not, when times get tough marketing gets the bullet. In some cases where there has been an incorrect allocation of resources within a company this may be justified. But in most cases it is a mistake. Sometimes a very costly one!
How a 19th century French mathematician can help you find the answers to your marketing problems.
Marketing can be expensive. It doesn't have to be, but sometimes you will spend more than you should. Usually you'll realise this after you've done it. But here are two tips that can save you thousands of dollars.
Many of the business owners I speak with are looking for a relatively small number of new clients. It isn't that they're not ambitious, it's just the size of their businesses doesn't warrant a larger objective. Typically they own service-based businesses with an annual turnover counted in the millions of dollars, not hundreds of millions.
One of the difficulties in selling a service is that potential clients (we'll call them "prospects" here) often don't know whether they should be using what you provide.