Grand Rapids Opportunities for Women Presentation

This afternoon, I will be presenting to the Grand Rapids Opportunities for Women organization on Marketing on a Shoestring Budget.

This is one of my favorite topics to chat about, mostly because I truly believe it takes more time and energy than it does money to launch and maintain a successful marketing program. Marketing is every bit of contact your company has with anyone in the outside world. That means a lot of marketing opportunities. It does not mean investing a lot of money.

Don’t get me wrong, money still needs to be invested, and I recommend it is a percentage of your projected gross revenues. You, as a company, need to decide what percentage will be allocated to marketing.

Once you have decided your budget, and made the commitment to invest the necessary time and energy, you need to define the combination of marketing tools that are right for your business. These tools should  expand your reach, all while keeping costs down. Utilize social media, public relations, networking and more.
Before you get started, it is important to – Research. Research. Research. You need to understand and define the below:
  • Your product or service.
  • What are your product or services benefits? How are they different than a competitors?
  • Market – become an expert.
  • Industry – spot vulnerabilities and opportunities.
  • Competition – know them, understand them, learn from them.
  • Customers – your customers and your competitors customers.
  • Prospects – identify and locate them.
  • Media – know the best ways to reach prospects.
  • Internet
  • Technology – how can this propel you to your goals?
Marketing is a process, and the next step is developing your strategy. This can be done in seven sentences.
  1. The purpose of the marketing
  2. How you’ll achieve this purpose
  3. Your target market
  4. Your niche and your position
  5. The identity of your business
  6. Your budget

Now, define the tools you will use to accomplish your marketing goals. Email us for our list of low-cost marketing ideas.

And remember, of all the steps in succeeding with marketing, maintaining it takes the most time. You spend a relatively brief time developing the plan and inaugurating it, but you spend the life of your business maintaining, monitoring and improving your strategy. At no point should you ever take anything for granted. At no point should you fall into the pit of self-satisfaction because your plan is working. Never forget that others, very smart and motivated competitors, are studying you and doing their utmost to surpass you in the marketing arena.

Sources: Guerilla Marketing, Jay Levinson

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