13 Tips – How to Get More Bang for Your Marketing Buck – with Freelance Talent

More bang for your marketing buck?

More bang for your marketing buck?

All businesses are under pressure to deliver more – with less. So, how do you get more bang for your marketing buck?

After all, marketing is all about supporting your prices – so your business stays profitable – targeting a profitable market or sector or new sector.

It is all about generating leads and sales and contracts. It is about getting new customers, keeping them,  and persuading them to spend more with you.

Marketing is also about your how your develop your products & services – and how you present those products & services to your various target markets.

So, no surprise that the favourite saying in marketing is ‘I know I’m wasting half my marketing budget, I just don’t know which half‘.

But what if you could get more returns, more leads, more coverage and deeper brand attachment for the same money? Well, that would be worth it wouldn’t it? In fact, most businesses have no choice. They need to start growing again and to deliver more with less. So how are we going to do it?

13 tips to ensure that you get more bang for your marketing buck:

1. User more freelancers. The value of flexibility offered by a freelancers is worth £15,000.

2. Build your freelance talent base in your local area. Local freelancers cost less to manage than more distant freelancers – especially if you need an emergency meeting to get the project finished.

3. Keep in touch with your freelancers when they move – there is a good chance that they will come back to your business for a future project – having picked up valuable experience and knowledge elsewhere.

4. Ask your freelancers to solve your business problems– rather than give them job descriptions. This point goes against the standard recruitment process – give me a job description and I’ll find you a candidate – and instead, focuses on providing your business with solutions that fit, rather then people with persuasive CVs and interview techniques.

5.  Establish a ‘release little and often’ approach to marketing. Another way to manage this is to never spend more than 10% of your campaign budget before you have the proof that the first tranch of spending has been effective.

6. Spend money on planning and co-ordinating your marketing efforts, you will get better results.

7. Don’t forget that your product (or service) may perform better if re-positioned either up-market or down-market and that this will involve a price shift too.

8. Use the highly efficient marketing channels more – outside advertising and own branded newsletters/ magazines – and the high cost, TV and national press advertising channels, less.

9. Do everything you can to ensure your business model gives you the ownership of the customer (ie the right to contact the customer along with their postal address) and, if possible,  the right to repeat bill your customer (ownership of the right to re-bill automatically – like a telephone company).

10. Engage with new marketing channels and media early but on a small scale – such as social media, iphone apps, ipad developments – but withhold large campaign spends until you have worked out how best to use those new channels for your business, products and proposition.

11. Measure everything and prune your campaigns ruthlessly. Yes, seriously, you have to prune and keep pruning.

12. Listen to your local freelancers – they might know things or have original ideas that you haven’t yet considered.

13. Use local freelance networking and work fair events to find the best talent – and keep using them. You need to build a much bigger freelance talent pool – as it increases your flexibility to respond to short term opportunities.

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Written by Editor on April 29, 2010 and filed in Featured, News, Opinion , , , ,


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