Let’s be honest, top of mind for every business person is how he or she can take steps to positively impact their bottom line. There are, of course, many things that will have an affect on the success of your business, but marketing is a unique aspect of business that can make or break you and has a great impact on your bottom line.
More about Marketing and Bottom Lines
First, I will establish what marketing is and isn’t. Well, it isn’t simply one thing. Marketing includes, but is not limited to, brand awareness, lead generation, sales support, and customer retention and growth. As you see, marketing involves many parts of your business. This is why it is important to have a marketing plan that positively impacts your bottom line. Yes, I said “positively”. It is possible to have a marketing plan that has a negative impact, which often times leaves business owners disgruntled and feeling hopeless. Here are a few tips for using marketing to impact your bottom line in a good way:
- Make funding a marketing plan a priority in your business budget. We’ve all heard the expression “It takes money to make money.” And, if you’ve been in business for any length of time, you know this statement is true, but do you see the importance of using a portion of your budget for marketing? In general, it is said that you should spend 7% to 8% of your budget on marketing and advertising in order to notice a difference in your bottom line.
- Be smart and hire a team of professionals to help you create a marketing campaign that will impact your bottom line in a positive way. You will not regret this one. Many business owners are experts in their business field and will admit that they are not experts where marketing is concerned. This is reason enough to hire someone who has the expertise to lead you in the right direction. If you need assistance fixing something that is broken, you hire someone to fix it. Same idea.
- Get started with your marketing plan today. Don’t hesitate with marketing your business. As I pointed earlier in this article, marketing isn’t just one thing. Marketing your business involves getting your brand out there, establishing customers, giving thought to how your business will grow, and more. You have developed a business plan and set goals, now lead your business into the future with an effective marketing plan.
Is your head spinning? We hope not, but understand if it is. Marketing is our passion. You can count on Tandem Marketing & Design for expert advice on how to make your marketing impact your bottom line in great ways. Give us a call today at 717-324-8389 to discuss marketing tactics that will be right for you. Visit our website for a full listing of our services.