Here is a copy of part of an email that I received today from Melanie Duncan, who is the owner of Entrepreneuress Academy, a great online training site for women entrepreneurs. It is talking about marketing. Read on below:
From Melanie Duncan:
“I’d like to give it to you straight this morning, if that’s alright with you.
I’m back in NYC and like a true New Yorker I’m ready to give you a piece of my mind. 🙂
THE DREAM Many of us start businesses because we want to share our talents and express ourselves, we love to create, and we know that we can help people.
We’re told “Do what you love and you’ll never work a day in your life.”
Sounds like a pretty sweet set-up, right?
I think that it’s a complete lie.
I mean we start our businesses thinking…
“I’m going to spend all of my time doing these amazing rewarding things that will finally tap into my full potential.”
However the reality is quite different, isn’t it?
THE REALITY Small business owners spend 20 hours per week on marketing. (Source: Small Biz Trends).
That means that if you work a normal 40 hour work week (Ha- yeah right), you spend HALF OF YOUR TIME MARKETING.
(I highly doubt many of us dreamed of starting our own businesses so that we could spend our time working on Facebook ads).
But it is the name of the game.
As small business owners we not only need to create great products and services, we need to create the demand for our offerings as well.
I can’t tell you how many amazing business owners I see fail because they are incredible at what they do, but they have NO IDEA how to get their stuff in front of the right people.
Marketing is a critical part of building a successful business no matter how great the products and services are that you sell.
THE SOLUTION: You may LOVE marketing. You may HATE marketing. Doesn’t matter. You still need to do it.”
She is absolutely correct about having to market your business and I will give you some tips from my experience in different franchising systems, on how they really increase their brand exposure by capitalizing on their marketing.
They have dedicated marketing people, whose job it is to consistently keep that brand top of mind with its customers.
All marketing by the franchisees must be approved by the marketing department. This is how they control the message that their customers receive about their brand.
In my experience, a marketing/advertising fee has been added on top of any royalty cost, to make sure that there are funds for the marketing, as they understand the importance.
Their marketing consists of combined brand building advertising, that runs continuously, and targeted campaigns, that run for a period and focus on achieving a clear result.
For the campaign period, ALL messages, including instore advertising, online, social media, paid advertising ONLY have that one message, so that the customer is very clear about what they are offering.
They always measure the results of the campaign to see whether the investment of time and money delivered their desired results. This also determines whether they will repeat that campaign at a later time.
So, if you are not a franchisee, here are the takeaways on how you can capitalize on marketing for your business.
- Allow money to pay for advertising. Know that this is a cost of business and budget for it. Your business won’t grow if no one knows about you and what you are offering.
- Make sure someone is consistently marketing your business. If you do not have the time to do so, then employ a consultant or a VA to do it on your behalf.
- Be very clear about who is your target customer, and make sure your efforts are placed where your target customer will see them. What social media do they use? What other businesses do they shop at? Where do they spend their spare time?
- Make sure that you have a message that is continuously putting your name out there to your target customer to keep your brand top of mind.
- When you run a campaign, do it for a short period, put all your advertising resources behind it by making sure all your mediums, like Facebook, your website, and any other places you advertise, ONLY have that one message for that time. Really shout from the rooftops that you are having a sale, or releasing a new product or whatever you are doing, so the customer is clear.
- Assess the results at the end of the campaign. Did you increase sales, or profits, or customer numbers or whatever your target was. Was it worth the investment? Will you do another campaign that is similar, or do you need to consider something else?
Now you know how franchises really maximize their marketing efforts and how you can apply those rules to your business to get amazing results!
Dedicated to your business success,