i7 Marketing Blog

Companies spend a lot on marketing. According to CMO Survey – Special COVID-19 Edition, marketing budgets now take up the highest percentage of companies’ revenue and budgets. This is true even as revenue and budgets have gotten smaller since the pandemic began. The fight for companies to get their share of rebound spending is real.

Google is the most dominant search engine in use. If you want your flooring business to rank high in Google search results, it needs to have a Google My Business (GMB) profile. Research shows that GMB features are the single biggest driver for ranking high enough to get placement in the search engine results’ most highly valued real estate. In fact, the quality of your business’s GMB profile is the single most important driver in determining its search results page location.

More than ever, marketing today is a 24/7 operation. It has to be if you want to stay competitive. The digital transformation changed consumers' expectations about how they interact with brands and how companies present themselves to the world.

It is amazing the amount of small businesses who hire outside business consulting firms to help give guidance and ask the right questions. I believe we all have the desire to be told we are on the right track, and, at the same time, we have the sense to know that we won’t be right 100% of the time.

On the next $1,000 you spend on marketing, do you (or your boss) know how much revenue you’re going to get?

Even better, do you know how much profit you’re going to make?

No?

At least you’re in good company; it seems like most don’t know, and I would argue that the lack of a solid number is the greatest self-imposed limit to your company’s growth.

Here’s my logic:

So your business has decided to attend a trade show in hopes of expanding your reach. But as you look among the masses, you start to get a sense you are one of many. So the question lingers: How are you going to reach your target audience?

Events offer an unparalleled level of customer engagement, with an opportunity for positive personal interaction that builds loyalty. In a digital world, it can be easy to forget the value of meeting people face-to-face. We have become accustomed to simply click and purchase. This is great for one time sales and meeting customer’s immediate needs.
But it is imperative that we not lose sight of the value of building personal relationships and meeting people face-to-face and making a lasting impression that creates loyalty.

Networking with other business owners is a great way to get connected and gain potential referrals. A little quid-pro-quo? When it comes to running a business, not everyone is competition. As a matter of fact, there are few businesses that are completely self-sufficient. Almost every business depends on another business. Even if you run a bakery and make all your goods from scratch - the eggs, flour, and even the marquis most likely come from someone else.

How many times have you heard that every business needs to know their customers? Usually this means knowing their desires, wants, needs, problems, as well as location (where they are both online and physically - Location! Location! Location!).