How Should I Spend My Marketing Dollars?
When a company looks at the best way to spread their marketing dollars to get the maximum amount of exposure, as a marketer you have to ask yourself what is the right mix. I think any professional would agree that a marketing mix is extremely important.
The marketing that is generally explored is email, mail, online marketing, multi-media such as radio and television, print optimization and now we add social media to the mix. The choices are endless and many companies are left wondering how do I know which marketing mix is right for me.
Here are top three steps I take with my clients before we spend a dollar on marketing activities.
- Identify your target audience. If you are a realtor and your job is to find consumers who want to buy a house then ask yourself who are the types of people that are buying? What is their age bracket? Are they single or are they married? Do they have children? What type of careers do they generally have? Where do they shop? What magazines do they read? And before you answer this could be anyone, really think about it. Yes it could be anyone, but there are some audiences that are more likely to buy then others.
- Create a defined message and brand it. Different audiences require a different message; however, you should have a common theme that consistently rings home to your target audience(s). If you own a car dealership and you sell a variety of vehicles from a hybrid to SUVs there is a common theme that can relate to any potential buyer. That message can be about safety, service, location, convenience or some other common thread that is specific to you. Whatever your message is tailor it to your specific audience and be sure to add your “tagline” or message that represents you.
- Determine how much money you are willing to invest. It never ceases to amaze me that people want to touch the world for less than a thousand dollars and they want to see results the same day. When you choose to market yourself and your business you are making an investment. If you are a law firm, you can’t expect to send out one email and expect people to know who you are and start beating down your door for you to take your case. You have to communicate over a period of time so your name become recognizable, familiar, and obvious. As with most investments, you don’t always see results the same day… this is a long term strategy and not a short term tactic. When evaluating how much you are willing to invest think about it over a period of time, like 6-months to a year.
Once you have identified a specific audience, refined your message and made a commitment into building your business, your marketing team can now determine what medium will get you the biggest bang for your buck and provide you with maximum results. Most importantly, when you are making your decisions, thinkGROWTH, thinkEASY, thinkNOW and most importantly thinkBIG!
If you are currently exploring the idea of whether you can afford to market your business or not sure which marketing mix is right for you, we ask that you consider thinkBIG Innovative Design and Marketing (thinkBIG). We can provide you with winning solutions and help you spend your marketing dollars the right way. When you inquire, be sure to ask how you can receive a 90-day marketing plan at no cost.
Interested in learning more about thinkBIG, visit our website at www.thinkBIG4me.com