How many financial advisors and marketing consultants do you know? For the small and medium size business owners, you probably meet several. They are at every networking event, chamber of commerce meeting and seminar offered to business owners. They are everywhere and you never know who really knows their stuff and who is just blowing smoke.
Many business owners struggle with the same conundrum when it comes to hiring a marketing company. There are many out there that claim to do everything and claim to be the best… so how do you wade through that? The answer isn’t simple, but let’s look at what the similarities are between financial investments and marketing strategies.
First and foremost, “Diversify” is a fitting word for both. In the financial world, diversifying your portfolio is among the most important things to remember. It is especially when you are looking to build long term wealth. What does that have to do with marketing? When it comes to a marketing strategy, you need to strike a good mix.
How Marketing Tactics Are Like Investment Options
Different aspects of marketing can be compared to different types of financial investments. Search engine optimization (SEO) is similar to a low risk stock. Both may take time to see a significant return on investment (ROI), but both are beneficial because there will be a constant revenue flow. The main difference is that qualified leads are worth different amounts depending on the industry a company is in. For some companies, SEO is worth it to get only one qualified lead over the course of a few months. For others in some rare cases, a few years.
Search Engine Marketing (SEM)
SEM is like a more aggressive and volatile investment. If done correctly, SEM has the potential for very high ROI in a short period of time. Like many things in life, if search engine marketing is not done correctly, it is possible that you will end up losing money on the investment rather than building revenue as you had hoped.
Social media marketing (SMM)
Social Media Marketing can be compared best to a mutual fund. In a mutual fund investors’ funds are pooled together for the purpose of investing in a diverse range of securities like bonds and stocks. So, the more money that is invested in the fund, the lower the transaction cost per person. With lower transaction costs comes the potential for a greater ROI. This group of investors pools together and acts as an individual. Your social media marketing efforts depend on many different parties sharing your posts and spreading your knowledge to others.
The potential for a high ROI increases when you have a high number of customers and followers based on a simple rule of numbers. Your customers and followers can like, comment, repost, and speak freely about your company. This increases your reach, brand awareness, and puts your company in front of many new potential prospects. Many of whom have not yet heard of your company. In social media marketing, your customers and followers act as your marketing team by spreading your content throughout their own personal networks.
“He who does not trust enough, will not be trusted.” – Lao Tzu
You may not know your financial advisor or marketing company on a personal level when you first start working together, but you have to place your trust in them. Trust is one of the most important factors in either relationship. When you start using a new financial advisor, you need to trust that this person has arrived at where they are because they are good at what they do. You need to trust that your investments are safe, and that your advisor can get you that ROI.
Your marketing company needs the same trust you put in your financial advisor. Marketing is an investment in your future growth, by putting your faith in the marketing company that YOU chose, you are increasing your chances for results because YOU are letting the experts handle what they know best and by not interfering, you have an opportunity for greater things than you could have ever imagined.
9Sail will develop a custom marketing strategy specifically for your business, no matter what your needs are. Whether it is through search engine optimization (SEO), web design, branding or consulting, 9Sail has the right digital marketing solution for you. To get a quote or find out more, contact us at (201) 632-1185 or firstname.lastname@example.org today!