As a product or service-based entrepreneur or small business owner with a micro team, it may seem like there are not many ways to market your product or service-based business. This is especially true when you have a limited budget or simply do not have time to test what will and will not work for your business.
Three Ways to Market Your Business
Whether you are starting a new business or expanding your existing products or services, there are three main ways to find sure-fire ways to market your product or service-based business. The first way is to hire a marketing strategist to work with who specializes in marketing that converts based on your unique needs. The second way is to find ways to market all by yourself and learn by trial and error. The third way is to hire an agency to do all of the work for you and trust that they know what works best for your business.
So what’s the difference between those three?
As a marketing strategist, I work with you in a one on one setting to create a customized marketing strategy that is proven to work for your specific business niche and model. The benefit of working with me or any other marketing strategist is you gain previously unknown insights into your own business and better understand the reason why certain marketing strategies and tactics work for your unique business, and are not just told to perform random marketing actions blindly.
When you market your product or service-based business all by yourself and learn by trial and error, while it seems to cost you less financially it actually ends up costing you more. It generally cost you more financially to test out all of the different, shiny, new marketing tactics even if you have no idea if they will work for you. It will also cost you unretrievable time that you could spend on marketing activities that are proven to work. The way to prevent the loss of time and money is to create a customized marketing strategy first and then spend on proven tactics. Sign up below to receive an invite to our next Marketing Bootcamp.
Hiring a marketing agency to handle all of your marketing for you may seem like a good idea, especially if you are low on time at the moment. Marketing agencies are great when they are given specific marketing tactics to focus on with a defined marketing strategy and goals to meet. However, if you have not established your marketing strategy and defined your marketing goals, then you may find yourself losing both money and time by hiring a marketing agency.
As you see, it is very important to first have a marketing strategy before looking for ways to market your product or service-based business.
After you have created your customized marketing strategy, then you will be able to determine the best ways to market your product or service-based business. In this article, I will share with you 24 ways to market your product or service-based business.
24 Ways to Market Your Product or Service-Based Business
- Setup a website
Setting up a website allows for you to own your own online presence. Your website is like your digital business card and should be the one place a potential client can find you and your information online.
- List your business on Google My Business
If you have ever Googled your business and it did not show, it is because you need to create or claim your Google My Business listing. It is completely free to get your business listed on Google, even if you only offer virtual services.
- List your business on Bing Places
Over 47 million people use Microsoft Bing to search on desktop alone. Bing is also the default search engine for Microsoft products including Microsoft’s Edge web browser. It is completely free to list your business on Bing Places.
- Create a lead magnet
Lead magnets are a great way to offer value and show your prospective clients how you can help them solve their problem. A lead magnet could be a free training, free download, free consultation, or something else.
- Start a blog
A blog is a great way to generate organic (non-paid) traffic to your website. It also serves as a way to show off your expertise to your prospects.
- Run ads on social media
Social media ads are a great way to get back in front of prospects who have interacted with you before or find and nurture new prospects to use your services.
- Run ads on search engines
Search engine ads allow you to easily place your business in front of prospects who are already looking for your or your competitor’s business or who have previously engaged with your business.
- Be a guest on a podcast
Guesting on a podcast has proved beneficial to grow your own audience by exhibiting your subject matter expertise to the existing audience of a complementary brand.
- Start a podcast
Nurture your audience by starting your own podcast to share your unique position on topics in your niche.
- Build your email list
Email lists prove to be extremely profitable for both product and service-based businesses as it allows you to own all of the people’s contact information who interact with your business.
- Focus on customer service
Generally, it is 7 times more expensive to acquire a new client than it is to keep an old client and gain more business from them. Put an emphasis on offering great customer service to improve marketing to existing customers.
- Create social media pages on relevant platforms
Relevant social media profiles allow for your prospects to find and interact with your business in real time. This often leads to them gaining your trust and eventually using your services.
- Write blogs for other websites
If there are news, media, or niche blogging websites that offer the opportunity to connect with their audience by writing on their website, it will be beneficial to use this to grow your own audience.
- Use email marketing
Use automations and customization to deliver the right message at the right time to prospects on your email list to move them further along your marketing funnel.
- Leverage text message marketing
Text messages average a 98% open rate and are effective for sending quick notifications and relevant updates to prospects to take immediate action.
- Partner with complementary businesses
If you and another business share an audience but for different purposes, partner with them to serve the audience holistically.
- Offer affiliate programs
Customers and influencers will gladly promote your product or service-based business to others if they believe in your offering and are able to make some type of commission as a thank you for promoting your business.
- Pitch your expertise to the media
Getting featured on local or national media is an effective way to position yourself as a subject matter expert.
- Write a book
Authoring a book positions you as a go-to expert as a service-based provider and can generate additional interest from prospects while serving as a passive income source to fund other marketing methods.
- Collect and share testimonials
Gather testimonials from past and current clients that show how effective you are as a product or service-based business owner to new prospects.
- Cold email prospects
If you offer services to other businesses, sometimes it is effective to just personally reach out to them through email and offer your services.
- Cold call prospects
Additionally, simply calling a prospect who would benefit from your services is a great way to immediately connect.
- Launch a webinar
Webinars or information sessions are a great way to answer questions and overcome potential objections your target audience may have stopping them from using your services.
- Offer a sale or discount
Sales and discounts are a great way to acquire a new client by lowering their preconceived risk of loss while not diminishing your value.
So, there you have it – 24 ways to market your product or service-based business.
If you are ready to have your very own marketing strategy – watch this FREE Masterclass.
If you are ready to receive step by step guidance on building and implementing your marketing strategy, apply to work with me 1-on-1.