---

Guest post by: Stacy Karacostas Become an Author

Tweet

---

---

So, you’re thinking about doing some marketing. If you’re a small business owner, chances are you’ve already discovered that your options are practically endless.

You could place ads in local or national publications…build a new Websitecreate a brochure…start an e-zine…hold a competition…put on an event…get published…have your name printed on pens…put out a press release…and well, you get the idea.

For some entrepreneurs, all these options result in total paralysis…You don’t do anything because you can’t decide what to do.

Or, you end up choosing your marketing strategies for the wrong reasons so you don’t get good results. Just because something is cheap, or the timing is right, or the opportunity comes from someone you know doesn’t mean it s going to help you grow your business.

I once had a client who was addicted to cheap marketing like a woman gets addicted to sales. It didn’t matter if she needed it or not, or if the opportunity was a good fit, as long as the price was right she was going to buy. Boy did she waste a ton of money on “free or cheap” marketing tactics that didn’t get results.

I also have a client who wants to jump on every opportunity that comes her way. Someone calls with a new shopping cart system and she’s ready to buy. A networking organization wants her to join and get published in their directory. Of course she has to decide in the next few days to get in this year’s edition. So she feels compelled by this to not let the opportunity go by.

Can you say salesperson’s dream???

So how do you choose the best marketing strategies for your business?

Instead of making your marketing decision based on price, convenience, or familiarity, you need to look at your goals, the results you are likely to get, the true costs and the potential gains.

Not sure how? Try using the quick list of questions below to help you make better choices. Whenever you are presented with a new marketing opportunity ask yourself:

1) Will this strategy get me in front of my ideal client or target market?

2) Will this strategy help me achieve my end goals or desired result?

If you answer no to either of these, stop right there and pass on the opportunity. If you answered yes to both, then it is time to calculate true cost.

3) What is the initial, up front cost?

4) How much time will it take to put everything together?

Now add on 1/3 more time than you think you will need, then multiply the number of hours by your hourly rate to calculate your time cost.

5) Will I need any professional services like printing, graphic design or copywriting to complete the project?

6) If so, how much will it cost to get my project done by the due date? Not sure? Call around and get estimates.

7) Do I have time to do this right, or will I have to pull an all-nighter to get everything done? If you have to work late, count it as time and a half and multiply by your hourly rate.

Now add up all these costs and ask yourself…

8) Does this fit my budget?

9) How many new clients would I need to get to break even on the investment (Divide the total cost by the average revenue generated by one new client)?

10) Is that even possible, let alone probable?

If you’ve answered all of these questions, you should now have a reasonable idea of the true costs of your opportunity, as well as the potential Return on Investment (ROI). And it should be crystal clear whether or not the opportunity is a good fit for you.

The bottom line is…never make a marketing decision based solely on cost or convenience. After all which is more expensive: A $5000 campaign that brings in 20 new clients who each spend $300 (net profit of $1000), or a “free” ad that really costs you $800 to create but does not bring in any new business at all?
You decide…


©2002-2007 SuccessStream. All Rights Reserved. www.success-stream.com

Related Articles

  What Is The Biggest Challenge That Every Internet Marketers Face?
  Marketing Success vs. Sales Success
  Internet Marketing Strategies To Make Your Business Successful
  Key Success Factors For Not Feeling Overwhelmed In Network Marketing
  Marketing Strategies to Make Your Sales Soar
  3 unexpected factors to get (or lose!) clients
  How to Find the Best Online Business Marketing System
  The Shocking Reasons Pay Per Click Internet Marketing Should Not Be Your Primary Choice
  Blending Internet Marketing Strategies
  How to Stop Wasting Money on Your Marketing
  Effective low budget internet marketing strategies
  Discover The Proven Marketing Strategies For Online Internet Business
  Online Advertising Tips
  Marketing Strategies - What Should a Banner Advertising Campaign Look Like?
  3 Attraction Marketing keys that will Help Expand Your MLM Business
  Marketing Assessment
  Blog Marketing Strategies That Work
  When Do You Need The Help Of An SEO Company?
  5 Tips-How to Choose a Network Marketing Lead Generation System
  Book Marketing Strategy of the Future

Related Forum Posts

Different Hats
Re: What is your Business?
Re: FREE Toronto Referral Workshop
Re: Let’s talk about the ways of marketing your products, servic
Glad to be a member! - We Consult businesses FREE!

Share this article. Fund someone's dream.

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

The Magic of Marketing in Action

How do you keep it together on a daily basis?

Coping With The Unexpected - 6 Practical Tips

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.