In my last post, I hammered home how critical marketing is for sustaining your business. And I underscored how important this is now — MORE THAN EVER — in light of the current economic climate.
To (very arrogantly) quote myself: “The only thing certain…Is uncertainty.”
Moreover, 2024 is an election year. And regardless of where you stand on the political spectrum, there’s no denying we’re in for a wild, roller coaster ride. All of which is bound to further impact, if not outright disrupt, the economy.
With these factors in mind, I’ve had my ear to the ground querying a range of small business owner clients, prospects, and colleagues about their plans in the new year.
And the prevailing sentiment was resoundingly… Marketing, marketing, and more marketing!
In fact, one stand-out quote was: “I’m not letting up on marketing, no matter how busy I am!”
So, if marketing is the key to sustaining and hopefully growing your business in 2024, what should be on your agenda this year?
Here are some of the strategies clients, prospects + colleagues have shared with me:
Following Up With Existing Clients + Checking In With Past Clients
One associate is emailing existing clients to remind them they’re available and outright asking for work. And this approach has paid dividends, generating loads of additional work.
The same associate has been following up with past clients on a quarterly basis, which has also generated plenty of additional work.
The key for her was “making it a routine,” an approach I preach in the form of developing the “marketing habit.”
Improve Targeting to Improve Clientele Quality
Quite a few folks I’ve spoken with confessed that in an effort to keep the cash flowing and their pipeline full, they’ve taken on work that’s outside their preferred niche.
This can lead to projects you’d prefer to avoid and clients you’d rather not work with. To avoid this, focusing on narrowing your niche and drilling down on your ideal client type is critical.
Also, on average, acquiring a new client costs three times more (in terms of time, attention, and advertising budget) than retaining an existing client.
As such, it goes without saying making your clients’ lives easier, being pleasant to work with, and consistently delivering solid work product are all bedrock activities.
But also, when the current project is over, don’t ignore existing clients. Keep in touch. Track their business. And don’t be afraid to ask for additional work.
Update Your Existing Marketing Assets
Another theme that’s come up frequently is the need to update marketing assets, including websites, email templates, and even physical media, like brochures and business cards.
Have you reviewed your website and other digital properties recently? What about physical media, brochures, business cards, direct mail, etc…?
If not, now is a good time to do so, ensuring they genuinely reflect the current state of your business.
Social Media, Especially LinkedIn, is a Huge Priority
Many business owners have committed to spending 15-20 minutes on social media every day focused on generating and nurturing leads. I am also now posting content on LinkedIn and Instagram.
And while active on these platforms, particularly LinkedIn, you should focus on:
- Making more connections
- Pitching prospects (with brief introductory sales messages)
- Replying to other people’s posts
- Posting more content
A big part of LinkedIn’s overall marketing value comes from its relationship-building potential. Which enables you to be more targeted and selective with the prospects you peruse. It’s a quality-over-quantity approach that allows you to nurture ideal client prospects rather than casting a wide net in an attempt to reach the entire market.
LinkedIn is also an excellent venue to acknowledge clients for their business, whether they hired you directly or referred you to another prospect. Upon completion of a project or closing a referral, shout out to the client in appreciation of their business or the lead(s) they provided.
Asking For Referrals
Though this is age-old good advice for effective marketing, asking for referrals is another strategy a lot of folks have mentioned.
Some avoid this because it can feel uncomfortable. There is also the excuse that satisfied clients will likely refer you when relevant opportunities arise.
And that’s mostly true. But you’d be surprised how often the “ask” can prompt clients to be more proactive in referrals. Sometimes, it even leads to clients to consider who in their personal and professional networks could benefit from your business.
Hire Help if You Need It
A lot of people have complained to me: “I’m doing too much!” A frustration that has prompted them to hire more help.
Whether you need admin help or additional marketing support, it’s worth considering hiring a virtual assistant or even just farming out certain tasks to freelancers through Fivver or Upwork.
And, of course, I’m here to help with marketing projects!
On that note, if you need marketing support in any of the following areas…
Websites — New launches, site redesigns, and content updates.
Business blogging — Which establishes you as an industry authority and improves your website search ranking.
Email marketing — Writing content and designing emails for lead generation, eNewsletters, updates and announcements, and other miscellaneous campaigns.
Social media marketing — Helping establish your presence and increasing your reach in the highly active and prospect-rich social media-sphere.
Brochures and flyers — Writing and designing collateral for agent and property promotion.
Direct mail campaigns — Writing and designing mailers for agent and property promotion.
PR — Drafting press releases and distributing them to media outlets and industry influencers to gain media attention for your business.
Branding — Creating complete brand identities, including logos, color palettes, style guides, mission statements, unique selling propositions, and related content.
Please get in touch: 310.466.7893 | ryan@ryananys.com