Creating Your Budget – Marketing Vs Legal

In late 2015 we took to the metaphorical streets to ask smart business owners where they spend their money. How do you create a budget and most importantly what you spend your budget on. People were extremely helpful but one thing became very clear; Marketing and Legal fees had 2 extremes.

Some companies stated they spend over 50% of their entire funding or business budgets on marketing. Others stated the majority of their fees when on lawyers and solicitors.

Although it does depend on what niche and business you own, is there anyway to really know where to spend your budget, or how much you should be spending? This article is going to be our opinion on this.

Marketing vs Legal

Marketing VS Legal

So your budget is limited, do you spend most of it on legal fees or active advertising and marketing. I’ll give my opinions and then show you the responses of the other business owners that gave us detailed answers.

I would spend the majority of my budget BUILDING a marketing or branding division of my own company. This is a  little bit “out there” as a response but I think active brand management is needed. Most of the time you hear people offering advertising services, social media marketing, paid marketing campaigns but it all comes down to one thing, which is getting your brand in front of potential customers and clients. If I can do this in a cost effective way, I will have a successful business PERIOD.

That is where the majority of my funds are going. As well as this I’d spend a good proportion on start-up legal advice and contracts. If you have everything set-up well from the start (from a legal point of view) there is no reason to be worried or spend more money at a later time for ongoing legal advice, or even civil or court cases! Which as everyone knows can destroy a business single handedly!

Business Owner 1 – Anonymous

I believe that if you want to grow your business as fast as possible then marketing is the only thing you need. You don’t even need to worry about everything else. The issue? This is reckless and not a long term business strategy. Ever heard of the guy who never consulted a lawyer but made a billion dollar business? No me neither!

Personally I would spend at least 5-10% of my budget on constant legal advice, things like trademark infringement always go missed, but if you have a good solicitor firm actively looking for these things, you will get your money back and more through either settlements, legal action or sales that should have been yours in the first place!

 

Business Owner 2 – Dan from Garage Shelving

We own what’s generally referred to as a business in a boring but needed industry. One where repeat business isn’t very common. As if our racking breaks for whatever reason, then why would you come back to the same company? This means we need a big influx of NEW business and customers as frequently as possible. This is where our marketing campaigns become so important. Most people think that you shouldn’t spend too much on advertising or marketing. I say you can’t afford not to!

It’s all down to the return on investment, what’s the point of not spending more money if every £5 spent = £7… You’re losing money by not actually advertising more. Sure your profit might only be equal to the amount you spend but you get more people through the doors and then you allow word of mouth marketing!

That’s all folks!

Why Direct Marketing Works

Direct Marketing is one of the marketing strategies which are effective in making a sale. There are so many networking companies who incorporate into direct selling because they know that even if somehow, there are clients who could not afford to buy a package and still went into retailing. Through direct marketing, they can sell in retail and still become profitable for the company. Direct marketing is a selling tool that works and helps the companies to have a sale through the network of people and giving them a percentile of a profit which enable them to earn their income.

direct mailing

Direct marketing works because this is a selling strategy wherein people would come and reach their customers through messaging them directly. We used this strategy through leaflet designers in Essex. There are varieties of tools they can use in order to reach people and the most common now is the use of social media. Network marketing could be done online through sending an email and messages through the internet. Seller would check where the effective market for their items is. They come into a more saturated area where there are lots of people who are coming in and out. It gives them the possibility of gaining potential customers through advertising on the internet. It uses a unique attack in marketing which gets the attention of some people through their catching introduction. Success stories are one of the attacks that possibly may use in the scenario. People can be easily hook up and inspire with the stories of some successful people who went into same situations and able to make it on top.

Also check your not breaking any rules in your area when you are sending these flyers/leaflets. When we ran our campaigns we used Parker Bullen Salisbury. They assured us we wouldn’t see any negative ramifications from the campaign, so we went ahead and 10 days later we had 2 new clients. Easy!

Reaching specific target would be the most challenging one in direct marketing. You can be creative in your own way and could make your own portfolio for your strategy to be effective. Acknowledgement is very important. People want to be appreciated even in their little ways. This is the most effective way to employ more people in your company to do direct marketing for you. As they say that appreciations motivate and drive people to become more active and exert more effort in their ways in order for them to excel. Direct marketing becomes one of the effective ways to reach out on different kinds of people. You are able to make your attacking marketing lines and you can directly assess if they can be your potential client. You can build a direct positive relationship with your client and make them feel that they really matter to you.

Direct marketing is a tough one. You should have the character to possess in order to adjust on different kinds of people you will be encountering in your daily lives. You can encounter nice and rude people and you should maintain the professionalism that is in you. There are lots of people who make their success story through direct marketing. It only takes guts to start into penetrating large market of people. Along the way if you really enjoy doing it so, you can be successful in this marketing strategy.

Closing Techniques Using the I-T Methods

Closing-Techniques-in-Sales

The website in question for the test was aston martin car hire, a business that obviously rents aston martins to individuals in the UK. The main aim for the test like I’ve already mentioned was if we could train the team to close more deals on the phone through the iterative training techniques we mention below.

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Modify Your Garage Into An Office – Iterative Guide

Garage Shelving imageAnother iterative training guide for you today. This one is on how you can change your garage from a pile of rubble into a beautiful home office that even apple would be proud of! Okay well maybe not that much but still this will be a guide on how you can get some garage shelving and turn your old space into something to be proud of!

How to Change Your Garage Into A Home Office

It’s easier than you might think, read on for more information.

Step 1: What you Need

  1. Garage racking – You need to store this stuff you own somewhere
  2. High quality Desk & Chair – This will make you want to come into your garage office, if you’re more old school then just pick up a quality Garage workbench.
  3. Motivation – Obviously nothing can be done without a strong bit of motivation.

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Digital Marketing 101 – SEO vs PPC

Digital marketing is a very touchy subject in the offline world. Some people rave about the results, others say its 90% spam and 10% hype. We interviewed A digital marketing company called HQ SEO to ask what their point of view was on digital marketing 101 and the key question of PPC vs SEO.

Digital Marketing 101

Digital Marketing 101 – Selling The Invisible

Question: Why do you think digital marketing is so difficult to sell compared to direct marketing or general advertising?

I think it’s down to the fact digital marketing, more specifically anything that isn’t “design” is actually invisible. You can create a PPC agency or an SEO company with a website and a brain. But the issue is people do this and they don’t have a clue. Which means clients and prospects get burned and then “everyone who does SEO is a spammer” and hence the cycle continues.

This is why marketing SEO and PPC is so difficult in the first place!

PPC vs SEO

Question: Okay to the big one now, what do you prefer and why, paid advertising (Pay per click) or SEO (search engine optimisation) and why?

This is probably one of the most frequently asked questions in our industry. Should you do PPC or SEO. My answer is pretty simple. BOTH! If you are a busy that is looking to grow rapidly, you should be doing both a paid advertising campaign, I recommend adwords but also more recently Linkedin and Facebook ads have been giving good results.

Most people will ask the either OR question but it 100% depends to the market and if the traffic is “buyer” or “content” centred. There is 100% no point in running a paid advertising campaign to individuals who are only looking for content or information. This is the easiest way to lose a lot of money. Instead if your kewyords are buyer incentiviced then there is no reason to

The ideal situation is to do both but at the same time. 80% of people ignore ads, which means you will instantly losing a major proportion of your buyers if you are ONLY using paid ads. But instead if you only do SEO chances are the results will take a long time and hence ROI will be incredibly slow. The solution is simple: Run PPC ads whilst running a strong SEO campaign. This means you will have the ability to generate quick sales through the paid ads, but you will also be constantly progressing in the organic rankings. This is 100% the only way to go for start-up businesses with a good online marketing budget.

But if I had to choose, SEO 😉 It’s HQ SEO for a reason, not HQ PPC. The below video has some good points in too.


Well there you have it. Another good answer to 2 really important internet marketing questions. It’s important to remember its totally up to the buyer / consumer to click an ad or go to your website, so make sure you have a strong call to action and strong conversion rate optimisation.