TUESDAY CHALLENGE: Things don’t always go according to plan
Things don’t always go according to plan. A small business has to be ready for change. One of the major advantages of a small business should be its ability to change directions in a hurry. Unlike a bigger business where change can be tied up for weeks or months, a small business owner only has to recognize the need for a change and then act on it.
“The act on it” part is the hardest. In the back of your mind might be the question: “Did I allow enough time, how long should I wait for the validation process?” In relationship to traction in marketing, the ideal is to have several marketing channels which you monitor. Depending upon the type of marketing, the response time will vary with the method. In other words, make sure that you allow enough time for a marketing channel to work. On-line research will help you learn more about the need for a specific marketing method to work.
Your challenge for today is to make a list of all your marketing channels and next to each one note how long that method has been in effect and what your results have been. As an example, if you have been running an ad in a magazine for six months or more and have not received any new business, you have options to consider: change the copy or cancel the ad. Make sure you itemize all your marketing efforts including networking, social media, blogs, etc.
By creating this tracking method you will know where to spend your time and money. Since the most important function in a small business is the generation of revenue, this exercise must always be an active part of your monthly review.
Submitted by Nick Petra, CFP and Founder of BizQuack
Be selective. Just because a certain marketing channel exists, doesn’t mean it’s right for your business.
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