How To Identify The Best Money Making Activities In A Market Downturn

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Not all marketing is created equal. Some strategies are designed for long-term results, but the average business he owner doesn’t necessarily have to wait that long. According to Statista, 21.6% of American small businesses surveyed claim that the COVID-19 pandemic has had a significant negative impact on their business. If these numbers hold true across the board, more than 6.5 million businesses are struggling. They need income now.

As a fractional CMO working with startups in several industries including fitness, fashion, health, CPG, legal and non-profits, I support small businesses that are struggling to scale without large amounts of funding or resources. doing. I’ve seen companies set themselves up for success, especially in this environment, by focusing above all else on revenue-generating marketing efforts.

Some things to notice are:

Activities That Bring Leads Now

Without leads, your business won’t sell. That is why proactive lead generation is so important to the health of your business. Content marketing is he one of the most popular marketing strategies for acquiring new leads.

Content marketing is essential for all marketers and founders, but all of the world’s best content has short-term leads, especially if brands haven’t yet established an engaged audience and strong distribution channels. Not necessarily.

Instead, you may be spending your marketing resources on more aggressive initiatives such as:

  • Engage with your ideal Instagram customer in both comments and messages
  • Market a gift guide to your company
  • Appearance at industry events.Host a talk or event when possible
  • Building partnerships with companies and organizations where the brand has synergistic effects

These can be time-consuming tasks, but these grassroots marketing tactics, coupled with a good lead magnet, can increase brand awareness and draw more potential customers into your ecosystem. I can do it.

If you have the marketing budget, advertising on the social media platforms where your target consumers spend the most time allows you to quickly test your audience, message and offers so you can move forward quickly and confidently.

RELATED: 10 Expert Tips To Drive More Marketing Qualified Leads

Lead nurturing activities

Business owners don’t want to spend their energy on marketing, and they certainly don’t want to spend money on advertising. Because she discovers that 96% of visitors to the website are not ready to buy. One of the best ways to generate revenue for your business is to strengthen the relationship with the leads you already have. Nurtured leads make her 47% more purchases than non-nurtured leads.

By focusing on connecting with prospects on a human level, demonstrating shared values, and providing meaningful content, you can build the trust they need.

This can be achieved in a myriad of ways, but it ultimately comes down to making potential customers feel like they are having a one-on-one conversation with your brand. This can be done in the following ways:

  • Send regular, valuable emails that align with your prospects’ wants and goals
  • Join Facebook groups and other digital communities where your ideal customers spend time
  • Host small events where customers can meet you and engage with your brand in a meaningful way
  • Send text messages as needed to keep potential customers up-to-date on important company events

Whether you are selling to a company or an individual, there is always a human being on the other end of the transaction. As humans, we crave connection. As marketers, our job is to build connections between people and brands.

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Activities to build brand advocacy

After making a sale, you have even more opportunities to build your business. If you offer a great product or service, your customers are likely to buy again if you have good upbringing.

Combining great products with great service is the key to getting repeat customers and turning them into brand advocates. Her 72% of customers say he will speak to 6 or more people if they have a satisfactory experience. Brand advocacy means that customers don’t just buy from you, they spread your reputation, amplify your message, and generate sales for you.

Here are some ways to turn your customers into advocates for your business.

  • Make sure your products and services are of the highest quality
  • Ask customers for reviews and referrals
  • Whether it’s DMs on your social media accounts, regularly checked emails, or a chatbot that introduces your customers to humans, make sure you always have strong communication channels between you and your customers. Customers are much happier when they feel heard and don’t have to go through the hassle of getting their brand’s attention and support.
  • Start a loyalty or rewards program
  • Create a customer advisory panel
  • Develop a strong community space for your customers through Facebook groups, Mighty Network, etc.

Growing a business can be difficult, and understanding how to spend your marketing time and money is one of the biggest challenges to achieving that growth. Focus your energies on the three most effective revenue-generating activities: lead generation, lead nurturing, and converting customers into brand advocates to generate short-term revenue and get one step closer to achieving your big goals. can do. business growth goals.

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