Read Patrick Snow’s latest blog post:
A New Idea to Market Your Business
In my last article I talked about the differences between advertising and marketing your business, and explained why I am a firm believer in marketing rather than advertising. In this article I’d like to share two unique ideas of how to market your business that you may never have considered…
Two no-cost or low-cost ways I have used to market my business with great success are public speaking and writing a book. Think about how easy and overlooked these two strategies are.
When you are a public speaker, you may have hundreds if not thousands of captive buying minds in the audience, all intrigued with your message and ready to buy your service.
A New Approach to Marketing Your Business
How about writing and publishing a book? With Creating Your Own Destiny, I sold more than 150,000 copies of my book in five languages all over the world. Well, each one of those books has a become a “sales-it” – not a salesman or saleswoman since a book is gender neutral. Each book becomes a marketing tool delivering my company’s products or services to potential buyers all over the world. What other marketing tool do you know that can generate interest in your business at such a low cost?
Often, I run into struggling entrepreneurs who are spending $3,000 to $5,000 per month, year after year, advertising their businesses. I encourage these folks to become Affluent Entrepreneurs by writing, publishing, and marketing their books for a fraction of what they would spend on advertising. Perhaps best of all, the shelf life of a newspaper is 2 to 5 days, whereas the self life of a book can be 100 years or more. Consider writing a book to use as your best way to market your business.
The bottom line is this. If you have an unlimited budget to grow your business, then congratulations on your inherited wealth or your excess cash flow. If you find yourself in this position, feel free to spend all the money you want on advertising your business.
However, if you are like me and most other entrepreneurs who have a limited budget to market your businesses, then I strongly encourage you to focus your time, energy, and money on marketing your business instead of advertising.
One exception to marketing your business is…
My only exception to this rule would be to test-market some online advertising such as Facebook and perhaps some others. As a result of focusing on marketing instead of advertising, not only will your business thrive, but your cash flow will dramatically improve as well. One of my all-time favorite concepts in regard to wealth creation is that it doesn’t matter how much money you make, what matters is how much money you keep.
Therefore, I challenge you both in your personal life and in your business life to make a decision to keep “some” of all the money you make. I believe this marketing philosophy will help you do just that.
**This is an excerpt from my book: “The Affluent Entrepreneur”
As a Motivational Keynote Speaker, I can speak on this subject or adapt my subject to your audience.