Build it and they will come is wishful thinking in business. Having a product or service that is needed or wanted by people is only half of the battle. How will they buy your service or product if they don’t even know you exist? That’s where marketing comes in.
In this episode, Matt Halloran shares advice and tips for proudly spreading the word about your business, why you should market your business and mistakes to avoid.
Matt is a co-founder and chief relationship officer at ProudMouth, the world’s leading influence accelerator for financial advisors. An in-demand speaker, Matt has appeared on over 1,000 podcasts and is the host of ProudMouth’s Top Advisor Marketing Podcast, where he and industry leaders empower advisors to become trusted recognized authorities.
Matt is the author of The Social Media Handbook for Financial Advisors, the first social media book for financial services. His upcoming book, “Shut the F Up and Listen,” is set to be released this summer.
Marketing Your Business Episode Details
- Marketing Budget: High-growth companies spend 7-14% of their gross revenue on marketing. Even small businesses should allocate at least 2% to avoid limping along.
- Visibility is Key: No one knows who you are unless you tell them. It now takes about 20 exposures to your brand before someone clicks, up from seven previously.
- Influence Continuum: As your influence grows, you move from talking to skeptics to engaging with fans, which can take 3-5 years of consistent effort.
- Brand, Marketing, and Sales: These are three distinct phases. A clear brand leads to effective marketing, generating qualified sales leads.
- Organic Marketing: Even with a small budget, you can market effectively using social media posts, phone videos, and low-cost design services.
- Marketing Strategy: Start with a 10-year plan and work backward, focusing on a specific niche within your target market.
- Power of Listening: In sales and relationships, truly listening to people often leads them to sell themselves.
- Resource Tip: Matt recommends using a teleprompter to create varied, scripted video content.
Marketing Your Brand and Business Resources
- ProudMouth
- Little teleprompter
- Fiverr for hiring graphic designers or other freelance work
- James and the Giant Peach by Roald Dahl
- Social Media Handbook for Financial Advisors by Matt Halloran
