Time is a vital factor for any industry. As the old saying goes “time and tide wait for no one.” So you got to understand its value if you are to succeed in marketing your business.
In marketing, time is an important factor that affect profits, more so for service providers. When time is not managed properly, it becomes much easier to miss out on the addressable market, which can lead to low sales.
To market your business effectively, it is important that you know the amount of time that you need to spend in marketing. Check out this guide to find out.
How Much Time Should You Put into Marketing Your Business?
There is no straightforward answer to this question. But, the amount of time invested in marketing should be a function of the level of success your business is aiming for.
For a steady 6% to 8% rise in sales, you should be looking to market your product at least two to three time weekly.
For even greater profit margins, you might want to market aggressively for up to four days a week, or even five if you have the resources.
However, before you start your marketing campaigns, it is important that you include the marketing schedule into your strategy.
Uniting your marketing timetable into this framework will help avoid any inconveniences that may arise along the way.
One great way to approach this is by using the marketing funnel technique that many firms are increasingly adopting.
A market funnel is essentially a systematic layout of how you progressively draw clients to a product or service. If you want to use this method, you can rely on the following questions for guidance.
1. How do you mainly communicate with your customers?
2. Who are the first people to hear about your business?
3. What is the next way you’ll communicate with these pioneer customers?
4. How do you keep them hooked to your product and service?
Once you are able to answer these questions, the next step will be to examine your marketing techniques. This can be achieved by first first looking at the entry point of your customers.
These entry points could be either of the following. They could be storefront signs, local advertising posters, banners and pamphlets, or blogs and social media.
These entry point marketing strategies all fall under the same introductory level of the marketing funnel. Keep in mind that these strategies are not limited to customers, and also work great for business to business marketing.
At the next level, we break down how you’ll lead your new customers further down the marketing funnel to cement your newly-established relationship.
For instance, if you get new customers into your store, give them a free sample for testing, or if you run a blog, have them click a link to the company’s website for more information.
All in all, there should be an attempt to sway the customer to your direction. As you gradually approach the last level of this marketing funnel, the main idea becomes more apparent as you slowly cement your customer relationship.
The primary goal is to have bigger offerings for your most consistent customers like discounts, offers, and conventions and smaller and less expensive incentives for your newer clients.
The market funnel gives you a visual representation of your customer base and what actions to take to market your business efficiently.
This technique will make you take a hard look at the amount of time you spend on marketing activities and its overall effectiveness so that you can whittle down to the most efficient and less time-consuming marketing techniques for maximum returns on investment.
If you are not sure about the technique, you can visit our website. We will help you with some marketing tips on how you can progressively draw clients to your product or service
Incorporating Market Funneling into Your Marketing Schedule
Going back to my previous comments, marketing two to three times a week could spur a six to eight percent business growth approximately.
Setting aside two hours a day for three or four days a week translates to about eight hours of marketing in a week.
To some, this may seem like a lot of time, but this in truth is not sufficient enough to bolster significant growth.
With marketing funneling, however, you have clearly defined goals and the activities outlined to achieve the desired results. You can also distribute your time efficiently between the three funnel tiers to utilize every second.
To get a clearer picture, let’s go back to our previous hypotheses, where two hours a day will give you about eight hours of marketing a week.
If you incorporate funnel marketing into your exercise, you could opt for about one of the two hours a day for new customers since they require a lot more convincing and split the remaining hour between tier two and three customers who have shown consistency in their purchases.
The main point is to set aside more time for customer attraction and less time for customer retention to attract better sales and boost profits.
Finally, when it comes to marketing, quality always beats quantity hands down. For this reason, it is all the more important to emphasize the quality of your marketing activities for the best results.
In the long run, companies that practice consistent marketing that involves high-quality activities are more likely to rake in greater profits.
Marketing Your Business Time Management Conclusion
Proper time management when marketing your business is a matter of trial and error that takes a lot of refining to perfect. However, with the proper marketing strategies, adequate resources, and the right staff, your business could efficiently use time and grow steadily.
Market funneling could do wonders for your business, so if you want to see good results, then the best time to start market funneling is now.
If you want other great tips on how to manage and grow your business well, contact us today and we’ll set you along the right path.