7 Ways to Get Maximum Marketing Results at Any Time

Here is something many entrepreneurs need to understand when it comes to marketing: there is no such thing as guaranteed results.

There are too many factors about your marketing campaign that no one can control. Among them, there is the behavior of the overall market, competitive pricing, demand for offers like yours, current events, and others.

It would be anti-ethical for any marketing agency or freelancer to guarantee ABC results if you invest XYZ amount of money. But it does not mean that there are not ways to get the most out of your marketing budget (according to the circumstances).

Here are seven ways you can maximize your marketing efforts – whether we are in a recession or a booming period.

Do Not Confuse Marketing with Networking

If you are marketing your business, you need to understand the difference between connecting and communicating with your community and sharing / promoting your business.

Do not take to social media or networking events to present your sales pitch right away. People do not like it when you sell stuff to them. Instead, connect first by hearing about their problems, and communicate with them in ways they can solve those problems.

There will be time for you to promote and share on social media and at networking events. But you need to build a relationship first. That way, your audience would not feel like you are selling to them, but that they are taking advice. Because they trust you.

Market Efficiently

I am a firm believer in A/B testing. It is the best way to keep your marketing campaigns rolling and not waste your budget.

You do not want to throw money away with marketing that is not appealing to your market. That is why it is imperative that you constantly test your letters, ads, and emails to see what is getting the attention of the market, and what is persuading them into buying.

Cut What Does Not Work

Once you start testing your marketing efforts, you will know what to keep and what to drop.

You do not need to be everywhere at once. You need to be where your market wants you to be.

Do not waste your time on Facebook if the people are not responding. Stop sending letters if there are no sales coming from them. And please, do not waste two million dollars on a TV spot that won’t produce any ROI.

Inbound Marketing vs Outbound Marketing

I believe both inbound and outbound marketing have a place and are beneficial to every business. But they have their place in the marketing process.

Outbound marketing should be the focus when you are starting out. You need to let people know that you are there to help them. Thus, you should be sending emails, making phone calls, and making the first step to connect with the market.

Once you have set up a reputation for your business, then inbound marketing takes over. Because people will be looking for you. They will look at your website, your blog, and your social media channels.

So, do not disregard either marketing strategy. Just place them correctly according to the level of growth of your business. Outbound marketing when you are looking to prove yourself, and inbound marketing when you have an established name in the market.

Cold Calling as a Marketing Tactic

Most people are afraid of cold calling. Honestly, I believe “terrified” is a more proper term.

That is the reason many dismiss this tactic from their marketing strategy. But I think cold calling is as practical a marketing tactic as any of the others.

You need to make that first connection. And if the market is not coming to you, you might as well go to them.

And cold calling is not as bad as people make it out to be.

All you need is a good script and some thick skin (to handle rejection). And after a couple of times doing it, you will feel comfortable approaching targets and converting them into leads.

Hire Professionals

You can divide any marketing campaign into three facets: strategy, content, and design.

If you have experience in marketing planning, website design, and copy and content writing – then, by all means, go for it. Although I would recommend getting a critique from a professional on each, just to go safely.

But, if you are marketing your business, and have no prior planning, writing, or designing experience, your best bet is to hire professionals for each endeavor. They will know what to do to present your product in the most appealing way possible to your market.

There is also the choice of learning things yourself, but if time is not on your side, then I suggest hiring the professionals anyway until you can take over after getting some marketing seasoning.

Plan Your Marketing

You might have expected this to be tip number one. But I wanted to make sure you understood some things before we got into time management.

But now that we got the small details explained, here is a template to develop a weekly marketing schedule:

Mondays: Market research to find targets

Tuesdays: Prospecting

Wednesdays: Content marketing

Thursdays: Automation

Fridays: Website updates

Every day: Networking on Twitter and LinkedIn

Make sure to separate (at least) an hour every workday to do your marketing. You can perform a marketing task each day to keep your efforts moving. Also, make room for at least half an hour of networking – online or in person.

The Best Way to Understand Personal Finance

When we are trying to understand Personal Finance, the best thing to do is to understand what Personal Finance is NOT.

Many people think that accounting and personal finance are the same, but Personal Finance is NOT Accounting.

On the surface they may seem the same; they both have something to do with money. However, the definitions will help us better understand the differences.

Merriam-Webster’s definition of accounting is “the system of recording and summarizing business and financial transactions and analyzing, verifying, and reporting the results.”

Based on this definition, we see that accounting is the process of analysing and recording what you have already done with your money.

This is why having an accountant is usually not enough when it comes to your personal finances.

Accountants generally don’t concern themselves with personal finance (there are some exceptions to this rule). Unless your accountant is also a financial advisor or coach, he or she will likely just look at what you have done with your money at the end of the year and provide you with a report of their analysis.

This report is usually your tax return; what you owe the government or what the government owes you.

Very rarely does the accountant provide an individual with a Balance Sheet or Income Statement or a Net worth statement; all very helpful tools that are necessary to effectively manage your personal finances.

Personal Finance is looking at your finances from a more pro-active and goal oriented perspective. This is what provides the accountants with something to record, verify and analyze.

The Merriam-Webster’s (Concise Encyclopedia) definition of “Finance” is the “process of raising funds or capital for any kind of expenditure. Consumers, business firms, and governments often do not have the funds they need to make purchases or conduct their operations, while savers and investors have funds that could earn interest or dividends if put to productive use. Finance is the process of channeling funds from savers to users in the form of credit, loans, or invested capital through agencies including COMMERCIAL BANKS, SAVINGS AND LOAN ASSOCIATIONS, and such nonbank organizations as CREDIT UNIONS and investment companies. Finance can be divided into three broad areas: BUSINESS FINANCE, PERSONAL FINANCE, and public finance. All three involve generating budgets and managing funds for the optimum results”.

Personal Finance Simplified

By understanding the definition of “finance” we can break our “personal finance” down into 3 simple activities:-

1. The process of raising funds or capital for any kind of expenditure = Generating an Income.
A Business gets money through the sale of their products and services. This is labeled “revenue” or “income”. Some businesses will also invest a portion of their revenue to generate more income (interest income).

A Person gets money through a job, or a small business (self employment, sole proprietorship, network marketing or other small business venture). The money coming in can be a salary, hourly wage, or commission, and is also referred to as income.

A Government gets money through taxes that we pay. This is one of the main ways that the government generates an income that is then used to build infrastructure like roads, bridges, schools, hospitals etc for our cities.

2. Using our money to make purchases = Spending Money.
How much we spend relative to how much we make is what makes the difference between having optimum results in our personal finances. Making good spending decisions is critical to achieving financial wealth – regardless of how much you make.

3. Getting optimum results = Keeping as much of our money as possible
It’s not how much you MAKE that matters – its how much you KEEP that really matters when it comes to your personal finances.

This is the part of personal finance that virtually everyone finds the most challenging.

Often people who make large incomes (six figures or more) also tend to spend just as much (or more) which means they put themselves in debt and that debt starts to accrue interest. Before long that debt can start to grow exponentially and can destroy any hope they would have had to achieving wealth.

Personal Finance made simple

Personal Finance doesn’t need to be complicated if you keep this simple formula in mind:

INCOME – SPENDING = WHAT YOU KEEP

For Optimal Results you simply have to make more than what you spend and spend less than what you make so you can keep more for you and your family!

If you are not actively working towards an optimal result you will by default get less than optimal results

It really is that simple!

Now that you understand personal finance and WHAT you need to do, the next step is learning HOW to do this!

The best way to start is by following these 3 simple steps:-

1. Know what you want to achieve – “if you don’t know where you are going, any road will take you there” has become a very popular quote, probably because it is so true. One of the habits that Stephen Covey highlights in his book “7 Habits of Highly Successful People”, is to always start with the end in mind. Knowing where you want to go will be a big help in ensuring you get there.

2. Have a plan – that you can follow that will get you to your goals. Knowing how you will achieve your goals in a step by step plan is invaluable. Sometimes this is easier with the help of an advisor or a financial coach.

3. Use tools and resources – that will help you to stick to your plan and not become distracted by the things in life that could limit our incomes and make us spend more than we should. Don’t try and work it all out in your head! You will end up with a massive headache and your finances will become one gigantic dark fog!