i7 Marketing Blog

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!).

Have you ever thought about how fascinating we, as people, are? Think about it. We know that we shouldn’t speed, yet we do it anyway (until we get caught). Or think about people at the beach: they know they need sunscreen, but they don’t do it. Now, think about businesses: everyone knows that word-of-mouth marketing has huge implications (good and bad) for the life of a company. And yet it seems many businesses consider customer service a good idea rather a necessity that is a key marketing tool.

Shopping for a new marketing team? Doing your due diligence in how you’ll delegate to your new marketing agency is as important as getting the right fit.