There are only three ways to market your business. One of them is your ” Marketing Super Power”… Here’s how to harness it to get more leads and customers quickly.
FREE Resource: The 1-Page Marketing Plan
In today’s video I want to go through how to make your marketing more effective so that you can get more leads, more customers and ultimately grow your business faster.
Now, how I want to do that is go through the three key ways to market your business. Because the reality is, out of those three ways, you’re going to have a natural affinity with one of them. If you focus on that one, you’re going to get better results. I want to show you what they are and then help you identify which one you should be focusing on.
The concept for this came from a question that was raised on a coaching call with one of my mastermind groups recently. It went something like this, “I’m really frustrated and I feel stuck because there’s so many different ways that I could be growing my business and I don’t know which one to choose. How do I choose to get the best results?”
Now, it’s a common misconception because, firstly, there are thousands of different ways to grow your business and thousands of different ways to market your business. However, when you categorise them down, there’s only really three.
Here are the only three ways to market your business:
- There’s the Free way
- The Paid way
- The Partnership way
The Free Way
This involves creating free information that’s useful, relevant, and valuable to someone so that they can consume it, engage with you, and begin to start building a relationship.
Now usually you would share this on social media, you would do free events, maybe use publicity and PR. The idea here is you’re giving things away for free.
The major benefit, is that it’s cost-effective because you don’t have to have big production values or massive budgets. You can do it with a basic blog. The cost of entry is low.
The one downside, is that the time investment is high, but it’s a good way to start if you’ve got more time than money.
The Paid Way
This is called the Paid Way because you’re literally paying for advertising, whether it be online, offline, or with a sales team.
Now the good part about this is that you can get results very quickly. You can quite literally pay some money, have an ad up and running by the end of the day, and be generating leads and opportunities the next day.
The one bad side about this, is it can be cost-prohibitive. If your marketing doesn’t work, you’re going to end up costing yourself a lot of money. If not done correctly, it can be unscalable and unsustainable. But, if you’ve got a bit of money and not so much time, one of the best things that you can do is start testing some paid advertising to get some immediate results.
The Partnership Way
The third way to market your business is with partnerships. These are initiatives such as strategic alliances and joint ventures. Basically, you build relationships with people who have the same customer base as you but don’t compete directly with you.
This means you can create opportunities and situations that are mutually beneficial to the both of you. Now I really like this way because it’s leveraged. You can piggyback off the credibility and trust of somebody else to access new markets, get in front of their customers, and provide value for all involved.
The downside, is that it does take a bit of time to build up these relationships. You have to be a good relationship builder. But if you get it right, it can be very, effective.
So, which one do you choose?
Which one are you going to focus on and which one is going to become your superpower? I think it comes down to answering a few questions…
- If you’ve got more money than you do time and you want some results quickly, then use the paid method, because it’s instant. Just know that it’s going to take a lot of testing, measuring, and tweaking to make it sustainable and scalable, but you’ll get results quickly.
- If you’ve got more time than you do money, then look at the free way. Create content that’s engaging, that’s valuable, that will get people to like you, know you, and trust you. This will build a relationship and over time people will begin to buy from you. Just know that it needs to be consistent and you have to put the time and effort in to make it work, but it is very effective.
- Lastly, if you’re a great connector, if you’re great at building relationships and you’re excellent at coming up with win-win situations, then choose the partnership method because you’re going to get fantastic results there. Yes, it takes a little bit of time to build up and create these relationships because there needs to be an element of trust, but if that’s your affinity, if that’s what you’re really good at, then double down on it because that’s where you’re going to get the best results.
I also want to point out, that I’m not suggesting that you only ever focus on one of these three areas.
I am suggesting however, that you focus on the area that you’re strongest at, because it will be the most comfortable for you.
This in turn, means you’ll be able to take action the fastest. The quicker you take action, the quicker you get results.
If you’ve got any questions about this, please leave them for me in the comments. Please also feel free to share this video with anybody else who you think needs to see it.
I’m George from Booming Business and I’ll see you next time.
FREE Resource: The 1-Page Marketing Plan