Make Marketing A Priority

If,​ in​ fact,​ that thought has crossed your mind,​ you're not alone. However,​ neglecting your marketing efforts is​ one of​ the​ biggest mistakes you​ can make as​ an​ entrepreneur.

You may be concerned with hundreds of​ business ownership details,​ but you​ still need marketing to​ achieve the​ visibility you​ require to​ get noticed in​ the​ marketplace. This visibility leads to​ more prospects converted,​ to​ more customers converted,​ to​ more profits-which is​ the​ formula for staying in​ business. So,​ by deduction,​ entrepreneurs need marketing to​ stay in​ business.

In the​ world of​ guerrilla marketing,​ there's a​ general rule of​ thumb that 60 percent of​ your marketing should be spent on​ current and past customers. After all,​ they represent your best prospects. These people already know you,​ trust you​ and,​ hopefully,​ have confidence in​ your company,​ products and services. They've already had a​ good experience with your business,​ which increases the​ probability they'll buy from you,​ especially when compared to​ a​ new prospect who doesn't know you​ and hasn't yet had a​ positive experience with you.

The remaining 40 percent of​ your marketing budget should be split up this way: 30 percent should be spent on​ prospects,​ and 10 percent should be spent universally. And all this spending should happen simultaneously: you​ need to​ keep your prospect funnel full while continuing to​ convert prospects into paying customers. you​ can start by using marketing to:

1. Replace former customers with new ones. Customers come and customers go. Sometimes they leave because of​ us,​ sometimes because of​ them and sometimes because of​ factors beyond the​ control of​ either. This can't always be predicted or​ forecasted. to​ safeguard against this,​ you​ must use marketing to​ replace former customers with new ones. Obviously,​ not everyone you​ market to​ will become a​ customer. But to​ increase your chances of​ getting those all-important new customers,​ you​ must continually put your message in​ places where they'll see it.

Successful marketing is​ made up of​ many,​ many things done over and over. Without a​ consistent,​ repeated effort,​ there'll be no new customers to​ replace the​ old ones,​ and you'll soon enter what's known as​ the​ "death spiral" for your business. you​ can't allow this to​ happen!

2. Pay attention to​ your customers. Imagine for a​ moment that you've secured new business from more customers than you​ ever dreamed. the​ good news is,​ you'll be busy fulfilling their every need. the​ bad news is​ that lack of​ attention is​ the​ number-one reason customers abandon a​ business.

So if​ you​ get busy,​ how can you​ stay in​ touch with your most valuable customers on​ a​ regular basis? the​ answer is​ marketing. Different marketing vehicles can reach out to​ them and show that you're paying attention to​ them. you​ can send thank-you cards,​ special offers,​ tips and techniques,​ newsletters and more. the​ type of​ marketing activities let you​ stay in​ touch without being there in​ person.

3. Keep customers informed. Now let's say that your business is​ growing,​ and you've decided to​ introduce new services and products. Who will buy them? Current customers will,​ as​ well as​ new ones-but they won't buy unless they know about your new offerings. Product announcements,​ press releases,​ newsletter ads and advertising are just a​ few of​ the​ marketing vehicles that can be used to​ alert prospects and customers to​ your new products and services. Marketing once again saves the​ day,​ pays attention to​ your customers,​ informs and educates them,​ and causes them to​ eventually empty their wallets into yours.

Effective use of​ these guerrilla marketing tactics will let you​ keep your marketing costs down while increasing your return on​ the​ dollars you​ do spend.

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