In our first podcast episode, Exploring New Market Frontiers, we discussed how important it is to explore your current and possible markets to grow your business and secure an exit strategy for yourself as a business owner. In this article, we want to double down on this topic to give you an understanding at the CEO level: how to view marketing as a business investment to generate more money by expanding audiences for your services and products, expanding into new markets, and lead generation.
How to Invest in Marketing for Your Business
If your marketing department has always been low-priority, or if you have no marketing department at all, you’ve been missing out on ways to grow your business—both in terms of your current and future markets. Learn how investments in marketing can have both short- and long-term benefits, especially when setting up your business for the next generation.
Expanding Your Audience with Targeted Marketing
Ask yourself this question: are you selling to your ideal clients? While you might have a vague idea, have you ever nailed down your demographics for the highest ROI? Working with a marketing agency, you can identify where your best client lives online, how to speak to them, and the inbound and outbound marketing options to get them into your sales funnel. During this process, you can also identify new audiences to target or places where changes to your sales or services could open new markets.
Using Digital Marketing to Break into New Markets
Either when identifying your ideal clients or exploring new business strategies, you may find a new market you want to break into. However, breaking into new product or service areas can be exceptionally hard, especially if your established online presence and website SEO aren’t developed for this new direction. Identifying where these clients are, what they search for, and targeting them with ads can be the difference between breaking into a new market and bouncing off.
Using Marketing for Lead Generation
Whether a new or existing market, every business needs more leads. Marketing can play a vital role in sending your sales team more leads. This works primarily in two ways: creating new sales funnels through better website design and organic traffic; and through targeted marketing such as social media, PR, and search engine advertising that can help more potential clients see your business. Both work together to channel more leads to you, from online forms to phone calls.
About the enVisioning Success Podcast
This article is based on topics discussed in enVisioning Success, our weekly podcast hosted by Vision CEO Laura DiBenedetto and COO Julia Becker Collins. In it, they discuss all things business and marketing, from lead generation to leadership. Find us on PodBean to download from your platform of choice, or subscribe to our mailing list to get new episodes and other news delivered directly to your inbox.
It always pays to invest in the right strategies for your business, and marketing is one of them. If you’re interested in exploring how marketing can change the scale of your business and how you do business, it’s time to contact Vision Advertising. Build a marketing partnership with us, allowing you to step back and spend your resources in better places (including planning your exit strategy).
