You may pride yourself on your well rounded marketing strategy, but among all those things you’re doing right could be lurking a few things that are costing you more money than they’re worth.
Not all marketing methods are created equal. While some might be a boon for business, others simply sap money without any benefit. Below are some marketing techniques that aren’t doing your business any favours:
1. Advertising in the Yellow Pages for the sake of it
In the last decade there has been a decline in the usage of telephone books as customers turn to the web for an easier, faster and often more informative way to search for services. Many online directories allow for testimonials, photos, recommendations and so much more. It might be time to reassess your Yellow Pages approach and determine which out of print and online marketing and advertising is giving you the best return on your investment.
2. Paying to host an out-of-date website
Is your website more than a little out of date? If your website is little more than a name-and-contact-details landing page, it’s time to make a change or save money by taking it down. Outdated websites turn potential customers away in droves. Even the search engines may have lost interest. Fix it up or turn it off. Also consider making your website mobile-phone friendly. The more functional it is for today’s users, the better.
3. Printing stationery (and other branding tools) unnecessarily
Do you really need all that stationery when so much of your marketing is or can be done online? If you’ve been spending money on postage to an out-of-date mailing list, it could be time to redirect those funds on building your email marking contacts list. You could save on printing costs, postage and envelope stuffing by exploring new web-based marketing options.
4. Ineffective online marketing and social networking
Enewsletters with spelling mistakes, excessive Facebook and Twitter updates, and glitchy email marketing campaigns are all examples of how you could be turning your online audience off. Get to know your web-based market, understand the platforms you’re using and tailor the content you send out via these programs to ensure maximum impact. It will take some research, practise, planning and proof reading, but you can choose to either get it right or risk losing online leads.
5. Trying to do everything in-house
Countless businesses waste a lot of time and money trying to complete tasks in-house that an external, experienced professional would complete with better results and less money wasted. If you’re not up to speed with using social media, online marketing techniques, or even establishing a website, you could gain a much higher return on investment by outsourcing certain marketing activities.
Cleaning out your overall marketing strategy by eliminating those techniques that aren’t working will save you time and money, and set your business up for success.
How will you fine-tune your marketing activities?
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For more from Jo Macdermott, head to www.flyingsolo.com.au, Australia's community for solo and micro business owners.