Marvellous Marketing- Five Places Your Marketing Budget Should Be Going

by - 9:02 AM


When it comes to business, it's not just a case of 'build it and they will come.' Competition is fierce, regardless of what you sell you will have many competitors out there- all of which will be more established than you when you're first starting out. If you stand any chance of getting ahead and reaching your customers, you absolutely need the right marketing. Marketing costs can catch out new entrepreneurs, it's more expensive than you think to promote and get your name out there but it's vital for success. Here are some of the places you marketing budget will need to be spent on. 

Market Research 
Putting your money into research is a smart move. If you’re new to your area of business or you’re considering new ideas, then research will help you to back up your ideas and give you the best chance at success. The last thing you want is to create products or offer services that people don't want. As well as make sure what you're offering is in demand, you need to know what prices people are likely to pay. It's always worth investing in market research before putting another penny into your business to make sure you're on the right track. Sometimes you might need to tweak ideas, but in some cases you'll find that scrapping your idea and starting from scratch is the way to go. Rather have to re-start early on than pump money into something that's doomed to fail. 

Advertising 
First things first, you need to advertise to get your name out there to potential customers. When you think of advertising chances are it will be TV and radio ads that spring to mind, but it's far from limited to this. Depending on the type of business you run, these might not actually be the best options despite the fact they have good reach. Advertising on social media is beneficial for almost every business these days. Keep an eye on your stats and tweak your campaigns as you go along to ensure that you’re getting the very best return on your investment. 

Blogging
Blogging is one of the most beneficial things you can do for your business. It helps you to build up a readership and a following, it allows you to promote your products and blog posts are very share- friendly. When you integrate a blog with your website, the regular content being released actually helps you to build domain authority and improve your page rank within search engines. You will need to focus on creating vibrant and interesting content. Articles that are useful- engaging, informative, funny, whatever route you want to go down to get people reading. You will need to invest in web developer who is fluent in Wordpress and who can set up your blog and integrate it with your website. Your site should be well designed with branding and logos continuing through. If you're not an experienced blogger yourself, you will need to outsource and pay to have a professional create you high quality content. In some cases, you will need to hire a photographer to take pictures too, otherwise use good quality stock images. 

Software 
The right software is crucial to the success of modern businesses. Use manual, paper or other outdated methods and you risk human error, slow workflow and reduced productivity overall. There are lots of types of marketing softwares that can help to make your business a success, from Google Analytics to Activecampaign, Moz, marketing automation and much more. Do your research, find out what's out there and utilise this in your business. 

Events 
We live in a digital age, and much of our businesses are now run online. However there are plenty of things you can be doing offline and in person to market and promote your business. Attend networking events, trade shows and run your own events to get people interested. Give away marketing merch and hand out leaflets and business cards. These are all great offline methods that should be incorporated into your overall marketing strategy. 

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