Regulating Your Marketing Investments

Regulating Your Marketing Investments

Marketing investments come in​ three forms – time,​ money and energy. to​ prosper,​ investors must learn to​ balance and manage each one appropriately.

Managing Time

All business owners know how fast time flies. How can they ensure the​ best use of​ that time? By discovering what time of​ day is​ most productive for them and scheduling their most arduous tasks into that time slot. By closing office doors and screening incoming calls,​ all managers achieve a​ higher quality output. at​ the​ end of​ each work day,​ compile a​ list of​ important tasks for the​ following day and rank each element according to​ its priority.

Executive’s waste approximately 45 minutes every day looking for misplaced information. Put important papers and materials in​ their proper places before leaving the​ office. Consider investing in​ software that organizes projects and contacts. Time is​ as​ valuable as​ money. Having the​ right time-management tools and practices will increase efficiency and preserve company resources.

Managing Money

Too often,​ business owners attempt to​ manage all aspects of​ operating the​ business themselves. Why? Are they afraid that relinquishing some responsibility will diminish their effectiveness? or​ are they trying to​ save the​ company money? Regardless,​ owners will do themselves a​ favor by simply outsourcing those tasks in​ which they have the​ least expertise. Hiring expert contractors for specific business related tasks,​ such as​ tax preparation and accounting,​ communications planning or​ Internet utilization and web development,​ not only saves time but,​ in​ the​ long run,​ will preserve financial resources as​ well.

Invest in​ marketing initiatives appropriate to​ your business and budget. Begin with a​ solid marketing or​ communications plan that outlines your objectives and resources in​ advance.

Offer to​ appear as​ the​ featured speaker or​ presenter at​ various industry events,​ seminars and networking clubs. the​ Chamber of​ Commerce,​ Rotary Club and various community groups provide excellent exposure opportunities for those willing to​ participate.

Prepare and distribute regular company newsletters or​ an​ online “e-zine” and send out media releases regarding newsworthy company events. Take advantage of​ marketing opportunities that stretch your marketing budget including cooperative advertising,​ in-kind sponsorships,​ cross-promotional and outreach activities. Follow through with a​ post mortem evaluation of​ each activity to​ assess the​ return,​ or​ benefits,​ of​ each marketing investment.

Managing Energy

Ever wonder where successful business owners find the​ energy to​ accomplish so much? the​ answer is​ that,​ through experience,​ they’ve identified those areas where the​ investment of​ their energy resources provides the​ greatest rate of​ return.

When it​ comes to​ marketing,​ for example,​ they’ve expended the​ necessary energy to​ test various related initiatives and focus groups in​ determining their target audiences and how best to​ reach them. Knowing right away what works and what doesn’t allows the​ owner to​ avoid wasting energy on​ less productive efforts down the​ road.

One of​ the​ most common causes of​ small business failure is​ the​ fact owners invest so much of​ their energy in​ running their business that they simply burn out. Driving ambition has its place,​ but must be harnessed in​ concert with a​ balanced life-style that includes family,​ friends,​ social occasions and the​ relaxation of​ enjoying a​ favourite,​ non-business oriented,​ past-time.

Be consistent in​ working eight productive hours per day but consciously schedule extended time away from the​ office at​ least once a​ week. Use your lunch hours to​ stroll in​ the​ park or​ participate in​ an​ exercise program. Focus on​ eating healthy meals with regular energy boosting snacks throughout the​ day: fruit,​ almonds,​ raw veggies,​ raisins and small servings of​ yoghurt are healthy,​ quick and affordable. Managing energy means having energy to​ manage.

As a​ successful business owner,​ never stop investing in​ the​ most powerful tool in​ your company’s management and marketing arsenal – you!

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