Why most small business marketing just doesn’t work

There’s lots to do to market your business, isn’t there?  There’s stuff that you can do for free, like Twitter or Facebook.  There’s stuff that costs a little like networking and websites. And there’s stuff that costs lots like direct mailings and advertising.

But even though the amount of money you have to spend can go up aswell as down, there is a more valuable commodity that you will never have enough of.

Time!

It doesn’t matter how good your time management is, you will always have exactly the same amount of time as everyone else.  60 minutes in an hour.  24 hours in a day.  7 days a week.

Your competitors may have fatter wallets to spend from on their marketing but you are all on the same playing field when it comes to time.

And as a small business owner, who notoriously never has enough time in any given week, you need to make sure that the time you spend on your marketing activities is time very well spent!

So why do you still try to attract each new client one by one?

Too many of you focus your marketing activities on attracting individual clients.

Let me give you an example.  Business owners who sell services such as coaching or graphic design often use face-to-face networking as a marketing strategy.  This can never work for them long term because they go to a networking event with the sole intent of finding a new customer.  Even if the event may only cost them £20 or so, a networking event could take at least 4 hours out of your day.  Work out what your hourly rate is and each new client lead could be costing you £200 minimum.

If you convert 1 out of every 3 leads (I’m being generous here!!) that’s £600 per new customer.  And if an average customer spends less than a £1,000 with you, your profitablity margin stinks!

I know, I know – I have used pretty basic sums here and your hourly rate may be much higher than £50 and your average client spend could be £10,000 or more.

But I wanted to make a point here.  Face-to-face networking is important to build relationships and, to be honest, get you out of the office before you go mad and start talking to the plants!  I make the time to go to certain networking events and make it a part of my working month.  But to focus on face-to-face networking as one of your main marketing strategies is not going to work.

Stop chasing the one to one approach and focus your efforts on the one to many.

You can spend your time far more wisely by focusing your efforts of getting in front of groups of your target clients.

Speaking, article writing, affiliate relationships, running live events – these all focus on one to many.  And which approach you take depends on what you enjoy, what you are good at and where your target clients hang out.

Answer these questions and they’ll help understand which approach to take.

Question One: Where do your target clients hang out? This can be online or live events up and down the country.

Question Two:  What do your target clients read? Again, on and offline – blogs, trade publications, magazines.

Question Three:  What communications are you good at? Speaking is my favourite way of reaching out to people but I know getting up in front of an audience is not everyone’s cup of tea!  So if you don’t want to speak, can you develop your writing? Can you run virtual events?  Would you be good in front of the camera? Even perhaps do you need someone else to be the voice for your business?

Question Four:  Who has an influence on your target clients? Who already has a big Twitter following? Who already has a large mailing list, blog readers, subscription list?  Who runs the large events or heads up groups and associations?

Use the answers to these questions to help you decide on how you are going to get in front of groups of your target clients.  Whether it’s a campaign to get you speaking gigs over the next year or a plan to build an affiliate programme – you decide.

Just as long as it’s marketing one to many – and not one to one!

Other articles you may be interested in:

1. Small Business Owners: Beware the hype of internet marketing!
2. Make Networking Work – Follow Up At All Times
3. Ten Top Tips for Marketing Your Small Business