Effective marketing is an art and a science. Do it right, and watch your bottom line grow.
Companies are in business to make money, and of course the way they do that is by selling products or service that people or other businesses need. However, it’s one thing to produce something of use to someone else, and it’s another thing altogether to get the word out to potential customers who might be interested in buying what you’ve got to sell. Unfortunately, this is where many companies fall flat.
Some years ago, Jay Conrad Levinson wrote a very popular series of books on marketing, anchored by his groundbreaking Guerrilla Marketing: Easy and Inexpensive Strategies for Making Big Profits from Your Small Business. Levinson’s books revolutionized the world of business marketing, and they can supercharge your own marketing efforts even today.
According to Levinson, “Guerrilla marketers do not rely on the brute force of an outsized marketing budget. Instead, they rely on the brute force of a vivid imagination…the soul and the sprit of guerrilla marketing is small business–companies with big dreams but tiny budgets.”
Here are the 5 powerful rules that successful guerrilla marketers use to guide their efforts.
1. The 10/30/60 rule
Divide your total marketing budget–no matter how big or small–as follows. Invest 10 percent of your marketing budget to talking to everyone in your marketing universe, whether or not they fit your ideal customer profile. Use another 30 percent of your budget to persuade people who do fit your customer profile–your prospects–that they should become your customers. Devote the remaining 60 percent of your marketing budget to your current customers. This is where you will produce the greatest profit for the least cost per sale.
2. The 1/10/100 rule
Every $1 spent communicating with your staff is equivalent to $10 spent communicating with the trade, which is equivalent to $100 spent communicating with your customers. What this means is that communicating with your employees is the most effective way to transmit your marketing messages to your prospects and current customers. Train all your employees to be familiar with your company’s products and services so they can accurately tell others about them.
3. The rule of thirds
One-third of your online marketing budget should be devoted to creating a great company website, one-third should go to marketing that site offline, and the final third should be used to improve and maintain your website–keeping it fresh and entertaining.
4. The rule of twice
Remaining truly competitive online is going to cost you twice as much as you think it will.
5. The rule of the ruler
Although you can delegate the marketing function to others in your organization, you can’t delegate the vision and passion that you personally feel for it. To ensure its long-term success, take charge of your company’s marketing process, and keep a close eye on it, regardless of who’s been given responsibility for it.