How To Market Your Company Products or Services?
Where Do I Begin? Every time I pick up the phone, or get an email from a potential new client, I always answer the same questions along with “where do I start?” It can be a very daunting question, and overwhelming experience trying to organize and configure a marketing budget and strategy. Most of the times the heads of these companies are wearing too many hats, have no time, just don’t have any clue, or lack expectations on how to market their business. Some clients have had pitiful past experiences with third party vendors, one dimensional companies trying to push a single product, or do-it-yourself marketing programs that just locked them into an extensive contract, took their money, and rode their coat tails into financial disaster. Some have spent their money on a marketing plan that either doesn’t fit their business, nor their budget. Others have trusted media moguls such as the phone book, which has worked for them decades ago, but is dwindling to extinction, and is now selling some one aspect, one dimensional, vendor controlled solution that doesn’t fit a marketing plan in it’s entirety. So here is the answer, plain and simple if you have just started thinking of your marketing business and don’t know where to even begin…
What’s your Marketing Budget?
Whether it’s 500 dollars or 50,000, you need to get the best return on your investment for the actual dollar amount. Meaning, whatever dollar amount you spend, you need to get a great marketing value that is going to return to you back in the form of revenue for your company. The industry standard is usually between a 10-15% investment of your company’s gross revenue.
What’s your Current Market Presence?
How are you viewed by your current customers or clients. For example, if you have a website that was designed by your nephew a decade ago, why are you going to spend thousands of dollars driving potential clients and customers to your website, just so they can have a bad overall vision, and initial experience with your company. They’ll go to your competitor and never give you the time of day ever again. Worst of all, you paid for it. We call this “asses in the seats, with no show.”
Who is your Target Audience?
You need to know who buys your products or services. You need to know what your services or products are. I have plenty of experience with clients or prospective clients trying to sell products or services that they don’t sell or service. For example, if you’re an appliance repair company that doesn’t repair microwaves, then don’t have pages and pages of content online, as well as phone book and traditional printed ads that depict, or state that you service microwaves. Seems simple, but this goes on every day. Also, don’t extend your service area to places that you don’t service. If you’re a Mexican restaurant in Chicago, don’t purchase a bunch of AdWords campaigns in Utah.
Don’t Try & Re-Invent the Wheel
Unless you are in the branding phase of your company, or product, you don’t have to come up with a super unique way of getting the word out about your company. You most likely don’t need a billboard on the highway unless you’re Coca-Cola. You don’t need to hire a sign spinner in a monkey suit. All you need to do is see where your competition is at in the game, and goes step above and beyond what is being currently done. A little market research will go a long way. Start with a company website as ground zero and work from there.
Feel free to contact us, and we’ll answer any questions about marketing whatsoever. Some questions or concerns may even be featured in this blog. Tag Marketing specializes in small to medium size businesses since 2001. We’ll put together a marketing plan and strategy for any budget, and get you the best return on your marketing investment.