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How to Increase Marketing Results While Decreasing Cost

Marketing is tricky. While marketing efforts are supposed to be what turns your small business’s product into a household brand, marketing can also become a money drain if not conducted correctly. If you find yourself quickly sinking down the drain of inefficient marketing, turn your efforts around by following a few steps that will increase results, not increase your costs.
Trade More Expensive for More Effective
Any marketing that isn’t bringing in leads and making an impact on consumers needs to be eliminated. For instance, brochure printing and mailing to your most encouraging prospects or in response to direct inquiries are more promising rather than continuing to air lots of radio commercials that aren’t bringing in leads. Also, look at those areas in which you can increase exposure while cutting costs, for instance, a weekly email newsletter rather than monthly print newsletters.
Go After the Right Consumers
Don’t waste your valuable marketing dollars chasing those consumers who will never be interested in your products or services. Rather than sending your print brochures to everyone in town, reserve them for your target market. Instead of hanging print posters on every street corner, post them in the path of your intended audience.
Prepare a Better Message
Is your sales pitch all it can be? Does it really tell consumers why your product is the best, how it can solve their problems, make their life easier, and then some? If not, then you will need to revamp your message and print brochures and business cards and re-design your website to include this new approach. When making a purchase, customers don’t care about the history of your business and other irrelevant information. They want to know why they should be purchasing this product from you.
Use a Combination Approach
Limiting your marketing to only a few different media and materials will limit your results. Combine print brochures, email blasts, social networking, and more. Get creative and try some new methods of exposure. Accept speaking engagements, attend a trade show or two, hand out your print brochures during carnivals, if your target market will be there. Just remember to choose those marketing efforts that are bringing in new customers, otherwise your marketing will suck your pockets dry rather than increase revenue.
Commit to Daily Marketing Tasks
Write a portion of your newsletter. Send greeting cards to customers with birthdays this month. If you are the only one doing the marketing in your business, you may need to complete several tasks a day. What if you don’t have time to keep up with it all? Instead of hiring a new employee for marketing purposes, divide marketing tasks among current employees. Or, for less than hiring a marketing department, you can outsource your efforts to a marketing firm. You just need to decide which path will give you more for your marketing dollars.

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