This entry is the conclusion to a two-part series on "Relentless Marketing," a marketing approach I use and advocate for any other small business owner.
Q. What makes the most sense for a small business when it comes to social media?
A: There are so many options these days that seem cheap and easy. I'm hard-pressed to say that one thing or another makes the most sense. Over time, if I've learned anything it's that integrated marketing works best for any company, organization or non-profit. The idea here is that the business owner uses a balance of tools -- website, point-of-sale, targeted advertising including Google AdWords, design, networking and media relations -- in a consistent, relentless manner. When it all comes together the new business pipeline stays full.
Q. Are there any guidelines for deciding what percentage of revenue or expected revenue should be spent on marketing?
A: Do what's comfortable, but don't stay locked in. A good rule of thumb is that 5-10 percent of total revenue should be spent on marketing. There are plenty of examples, though, of companies that spend far more or less and get the results they want. What it boils down to is this -- can we ever have too many customers?
Q. Is there any way besides trial and error to determine what marketing tactics are best for a particular business? That is ads vs. direct mail vs. email vs. social media, etc.
A: For my small business clients I always recommend that some sort of tracking system be instituted to see how customers find out about their business. More sophisticated outfits, regardless of size, are continually polling customers on not just satisfaction, but also on what influences them. A simple survey goes a long way in determining just what makes a customer happiest. I never like trial and error. I think it's really important to look at what the competition is doing AND saying, and then figure our how to differentiate my clients so that they stand out more. When we figure that out, sales improve and life is good!
