How (Exactly) to Grow Your Business in 2009

This article tells you exactly which marketing tools to use if you want to grow your business in a year that promises to be a doozy and is certain to make most of us stronger.

Written Jan 04, 2009, read 6172 times since then.

You have so many options when it comes to marketing your business that it’s easy to get overwhelmed. Which tools should you use? How often? When is the best time to make phone calls? When’s best to email? Should you be blogging? How many networking events should you attend each month? And how the heck will you fit social networking in?

These and many more are the questions you’ve probably been asking yourself. Whether you are new to marketing, or a Veteran who already has some marketing in place, you probably realize by now that marketing is essential to the success of your business. After all, without marketing, how will it thrive?

It’s simple: You need a marketing plan. A plan that is not just in your head, but on paper—a plan that will guide you through a year of marketing, one day at a time, breaking out all the steps to follow. You need a system in place, a process for contacting, mailing, following up with both new and existing clients. It’s all about preparation and, as Edna ‘E’ Mode in Disney’s The Incredibles, said, “Luck favors the prepared.”

Without a plan, you’ll be haphazard in your efforts, and those efforts will yield spotty results, at best. Without a plan, the Feast or Famine Syndrome is always right around the bend. (Maybe you’ve already been there.)

But what if you don’t know how to even begin to create a Marketing Plan?

It’s really not all that complicated. Here it is in a nutshell:

Set Your Goals for the Year Ahead
List here 3-5 specific, quantifiable goals you’d like to reach this year. Make sure they’re quantifiable, or else you won’t be able to tell whether you’ve actually reached them. So instead of “get new clients,” write “get 5 new clients in the travel industry.” Make sense? Go ahead, write down your goals. I’ll wait.

How Much Marketing Should You Do?
This is a good question. First, know that the majority of your marketing will take more time and effort than actual dollars. It’s most important to get the basic structure of marketing in place, to set aside time for it, and to follow your marketing plan .Ideally, you should be investing 5–10% of your pre-tax annual revenue back into your marketing and 10–20% of your time for business development.

Start with a revenue goal for the year. We’ll use the round number $100,000 in gross revenues and if it works for you as a goal, go ahead and use it.

If your average project fee is $10,000, it’s easy to figure out that you need 10 projects at $10,000 to achieve your goal; half of those projects could come from past or current clients and half could come from new clients. If your average project fee is $1,000, then you need 100 of them, and so on.

Keeping in mind that not all proposals convert to actual projects, how many proposals do you need to submit in order to yield those 10 (or 100) projects? Then, how many prospects do you need in order to yield X proposals? And how do you break down your marketing tools and tasks in order to get X prospects in your pipeline each month? How many prospects do you need to call and how many events do you need to attend in order to reach the prospects who ask you to submit X proposals? Veterans should be able to figure this out based on past history; those just starting out will take the year to figure this out but should start with an educated guess based on what is physically possible.

Building Your Marketing Machine—the engine of your system
Every successful business needs a strong Marketing Machine, a well-oiled system designed to get you the clients and the projects you want. Once you put it in place, all you have to do is keep it going and the prospects will start coming.

A Marketing Machine is made up of 3 things: a singular focus on a market, 3–5 carefully chosen marketing tools that work well together and your attention to keep it running.

Step One: Choose Your Market
Your Marketing Machine needs a focus on one market. That doesn’t mean you will only work in one market or one industry. You are free to take any work you want. But for the purposes of proactive marketing and to streamline your efforts, you must be efficient with your time and money. That’s why it’s best to start with one market, get the ball rolling, then add additional markets later.

Using a variety of marketing tools within a single market means that your prospects will see your message in more than one place—at a trade show, in a publication they read, in their inbox, in the mailbox, on an industry blog—and through repetition it will have a much stronger impact.
When it comes to choosing a market, start with what you know. A Marketing Machine built on past experience will yield clients more quickly than one you build from scratch.

Look first at the industries you’ve served in the past. For example, if you worked in pharmaceuticals, you can make a strong case for your experience within that industry or, if that’s a conflict, you can approach a peripheral industry, such as medical devices or hospitals.

Because you’re already familiar with the needs of the markets you know, you’ll build your Marketing Machine on a foundation of self-confidence, built-in credibility and examples to show prospective clients.

On the other hand, if you love housewares or travel and want to work in those industries but have no experience per se, it will take longer to build the machine: to make the connections, to create the work, to show that you can do it, to get the jobs.

Which markets make the most sense for you? List a few possibilities if you’re not sure:
1.

Step Two: Qualify Your Market
Before you begin your outreach, make sure the market you’ve chosen is fertile ground for your services. To qualify the market, do some research on the Internet or attend events where you can get answers to these questions:

What is the current state of this market? If it isn’t in a growth mode, this may not be a good time to get in.
What is the size and type of projects available from this market? Determine if you’re able to handle them profitably and if you would enjoy the work.
Are other service providers like you already working in this market? If the answer is “no,” there’s usually a good reason. The market may be unwilling to pay for these services, or may not perceive a need for them. If they don’t perceive the need, don’t waste your time trying to convince them. Instead, choose a market that understands the value of your service and is willing to pay for it.

Step Three: Start Your Marketing Plan
You’ve done your research, you’ve narrowed your options and you’ve finally chosen your market. Now what?

It’s time to find the actual people—to put names, phone numbers, email addresses, and eventually faces, to your potential clients—to make them real and to reach out to them. It’s time to implement your marketing tools.

The 5 Essential Marketing Tools...
In the Marketing Mentor 2009 Grow Your Business Marketing Plan + Calendar (available in the Marketing Mentor Store), we recommend these 5 essential marketing tools, most of which cost more time than money, that will bring you into contact with your ideal clients and will fuel your marketing machine. They are:

Networking (in person and online)
Research Calling
Email Marketing
Marketing-smart Web site
Printed materials and samples

...Plus 4 more.
In the Veteran’s Edition of the Marketing Plan + Calendar, we add 4 more marketing tools, all designed to position you as an expert in your field. They are:

Blogging
Article Marketing
Speaking Engagements
Publicity

Here's what I can guarantee (because I have clients who are doing it): by working with your marketing plan every week of the year, your business will grow, your pipeline will be full, you will gain new clients, you will make more money.

Now more than ever, if you can develop this "marketing habit," you will learn (and perfect) tools and strategies that will benefit your success and profit for years to come.

Next up: Let's take a closer look at each of these steps in How Exactly to Grow Your Business, Part II.

Learn more about the author, Ilise Benun.

Posted by Richard Baum, Phoenix, Arizona | Jan 06, 2009

This is a great, concise, doable plan for marketing your business effectively. I love the "by-the-numbers" approach. Easy to follow and easy to put into action.

I'll be implementing this myself.
Posted by Kate Phillips, Seattle, Washington | Jan 06, 2009

Ilise, I found your article very helpful, thank-you. You also confirmed some suspicions I have about what marketing is really worthwhile (and not).

I do question any set "formula" though. Yours was: "you should be investing 5–10% of your pre-tax annual revenue back into your marketing and 10–20% of your time for business development."

I've been in the restaurant biz and the real estate biz, coaching and music biz, with employees and without, and I don't think there is a formula that holds up across the board.

(And if a business was automated, why not spend 50% on marketing, if sales are increased dramatically with little to no increase in time?)

Even there was a formula, I'm sure the first year or two of any venture could look very different from an established biz.

"The first year, an entrepreneur can expect to spend 50% on rent, 20% on top ramen and kraft mac-n-cheese, and whatever time and $ they can spare on marketing." (Ah, probably not accurate either.)

Stop the Money Drama.
Posted by Ilise Benun, Hoboken, New Jersey | Jan 06, 2009

Thanks Richard, let me know how it goes.

And Kate, I agree with you completely. But people ask me so often for a formula that this is the one I came up with. It's more a general guideline to benchmark against, if someone needs it.
Posted by Gabriella Sannino, San Francisco, California | Jan 06, 2009

Excellent article, I like the way you broke it down in simple terms. I will be sending clients here. :) Gabriella
Posted by Susan Mathews, Stillwater, New York | Jan 06, 2009

Ilise, your article on how to create a marketing plan is thorough, to the point, and reinforces the audio. At a price anyone with internet access can afford! Sweet.
Posted by Amy Master, North Bay, Ontario Canada | Jan 06, 2009

Thank you for your article! It really gives a wonderful breakdown and helps one become organised for their marketing ventures. It is much less overwhelming when it is presented in a step-by-step manner.
Posted by nacho cendon, Madrid, Madrid Spain | Jan 06, 2009

Thanks, once more time your "simply" ideas are great... And in these first days of January, we almost need a plan, and the most important thing ... persistence...

Nacho Cendon 6th January - (Día de los Reyes Magos en Madrid)
Posted by Dawn Lawson, Romeoville, Illinois | Jan 06, 2009

Hi Ilise, I agree that this article is very informative.

Yes, when determining your target market, it is crucial to evaluate their current state in the market. Unfortunately, I don't anticipate much economical improvement until 2010-2011. Although my business does not appear to be effected by the economy yet, I believe this is something that really needs to be kept in mind.

Best wishes, Dawn
Posted by Audrey L Godwin, Renton, Washington | Jan 06, 2009

Thank you for a great article. It's definitely one I can share with clients and they can implement immediately with clarity and focus!

Planning is so essential and crucial in this moment in our economy.

Thank you for sharing your wisdom!

Helping you do more than keep score.
Posted by Ken Peters, Phoenix, Arizona | Jan 06, 2009

Ilise,

Right on. Positive, forward-looking and helpful. As a graphic designer who assists clients in building and executing their marketing efforts I often find myself conveying this message (and, hopefully as clearly and concisely as you have here). You have stated it wonderfully, and I hope that everyone who reads this will pay attention and act.

Great job.

Nocturnal Branding Studio
Posted by Veronica Mayo, Bellevue, Washington | Jan 06, 2009

Ilise, this is extremely timely and helpful. I am a firm believer in having a written plan for all aspects of a business. Large successful spend a great deal of time developing plans and there is a reason for that. They work. I could not agree more that reviewing the plan on a frequent basis is key. It helps you fine tune and cut out items that no longer make sense or have changed. I will be updating my plan to include more of your format. Again, thanks for this great article.
Posted by Tshombe Brown, Portland, Oregon | Jan 06, 2009

Hi Ilise,

Thank you for putting such time and effort into this very information and practical article. It's clear, offers a system, and echoing Richard, it's a "doable plan".

Often entrepreneurs become overwhelmed and don't know where to start with their marketing, or as you say, their efforts are haphazard and their results are spotty.

You're step-by-step approach eliminates the overwhelm at the start. All that is needed is to put one foot in front of the other.

Another thing that stood out prominently for me was how you addressed how we all have a finite amount of time. Choosing just one specific audience for the purposes of targeted marketing -- as opposed to struggling to be all things to everyone -- is all about efficiency and effectiveness with time and money.

Thank you, again, Ilise. Like Richard, I will be comparing this principles and guidelines with what I currently have prepared for 2009 and making adjustments along the way.

AND I'm bookmarking the article right now to make sure that happens!

Listen to the NEW Selling With Spirit Radio Hour
Posted by Diane Jhueck, MA, Langley, Washington | Jan 06, 2009

Thanks for this! Many times I find it difficult to apply marketing ideas to my industry (therapy.) A big roadblock is the issue of client confidentiality...

Your concise and pragmatic description is very helpful. Like the other folks here, I'll be using what you wrote as a platform for my business in the new year.

Much appreciated. :)
Posted by Kirk Davis, Bellevue, Washington | Jan 06, 2009

Hi Ilise,

Great Article! Thanks for sharing your thought process. I loved your quote on luck favoring the prepared. That needs to be our mantra during this recession.

It is refreshing to see such a practical approach to creating a marketing plan and how to be seen as an expert. I found it very helpful to refocus what I am doing.

I had an additional thought on how much to spend on marketing. I encourage my clients to get their sales up to 80% or 90% of their capacity to service the sales they make. We determine what their capacity is for sales in much the same way you described and center the marketing plan on increasing sales to that level. Then we ensure that the sales are profitable enough so we can invest to increase the capacity. That way you don't create the customer disappointment cycle and the entrepreneur burn out cycle that typically happens when your marketing works too well.

Please share more of your ideas. I'm looking forward to it.
Posted by Kevin McLallen, Covington, Washington | Jan 06, 2009

Very well put together. Excellent timing too. I will make sure and put some of your tips to use. Thank you for sharing!

Kevin
Posted by Kristen Fischer, Point Pleasant, New Jersey | Jan 07, 2009

Wonderful article with some real meat and GREAT ideas. But I expect nothing less!!
Posted by Ken Mahar, Seattle, Washington | Jan 07, 2009

Ilise,

Thanks. I was glad to see Email Marketing made it on your top 5 marketing tools - couldn't agree more completely!

I ran the numbers backwards as you recommended and concluded that with my large goals for growth this year I need to do one of five things:

1) Get help. 2) Delegate more effectively. 3) Triple my efforts. 4) Get really lucky. 5) Scale back my goals.

I'll probably do a combination of the first three (inviting number 4) as I don't like scaling back goals. Failure is ok if I give it an all-out effort, but backing off from a challenge just because it's huge is not. Regardless, it was a good reminder that time is not infinite and resources must be focused. Thanks for the straightforward article with numbers that can be put to good use.
Posted by Jill McLean, Chicago, Illinois | Jan 07, 2009

Ilise,

I've been an independent graphic designer for 15 years, but am moving into a new market segment (still as a designer). The shift has taken way too long and I'm just now getting a footing but am in the Feast or Famine phase.

Obviously, your articles and the 2009 plan are perfect for helping me get it right this year. I'm purchasing the download right now!

Thank you!

Jill
Posted by Ilise Benun, Hoboken, New Jersey | Jan 07, 2009

Thanks everyone for all those comments. I'm glad the simple approach is helpful. I'm experimenting with one other thing this week and next: a short daily audio tip to follow our Marketing Plan + Calendar. So if you want to sign up for that, send an email to me at ilise@marketing-mentor.com
Posted by Jill McLean, Chicago, Illinois | Jan 07, 2009

Everyone,

The audio tips that Ilise mentions here are absolutely invaluable!

It's also nice to put a voice to the reading. :)

Thanks again, Ilise!
Posted by Adam Bies, Pittsburgh, Pennsylvania | Jan 07, 2009

I have been going through the "feast or famine" cycle for 3+ years in a row now... Going from working 2-3 months working 80+hrs/week only to be followed by 2-3 months of absolutely NO work whatsoever, or barely enough to barely pay bills on time.

I know that it is the result of my total lack of marketing myself when I get really busy combined with a severely outdated web site. I have been relying mostly on word of mouth or existing clients to provide me with work.

Since I am a graphic artist, I think we creative types have the hardest time creating our OWN presence and visual identity. At least that is the consensus among my other friends in the industry.

I have been getting your marketing newsletter for years and its one of my favorites, especially since a lot of your focus is toward creative types like myself.

I made up my mind this year to really make a serious effort to create a steady workflow and income for myself instead of the roller coaster ride I have been on the last few years.
Posted by sage k. saskill, seattle, Washington | Jan 08, 2009

Thanks so much for sharing this information so generously (and concisely). It takes the edge off of my fear of making and implementing a plan.
Posted by Karen Jackson, Renton, Washington | Jan 08, 2009

Great article. I like how you broke it down in easy to follow steps.
Posted by Sean Hegstad, Bellingham, Washington | Jan 08, 2009

As a small, new business it's nice to have some direction for our marketing. There are lot's of groups to join that adds up fast. We will use this to help frame our thoughts. We spent about 10% this year but I would like to reduce that to about 7% this year due to the economic condition of the Construction industry.
Posted by David Tejeda , Seattle, Washington | Jan 08, 2009

I also enjoy the simple steps approach and the clear presentation of options for little to no outlay.

Beautiful

Thanks Ilise
Posted by Warren B Funnell, Lynnwood, Washington | Jan 08, 2009

After reading and absorbing this article, I do not have to read any more on "How to Grow a Business". Thanks for sharing your knowledge and expertise.
Posted by Sally Anne Giedrys, Portland, Oregon | Jan 08, 2009

Thanks for the excellent article, Ilise. Very practical approach and breakdown.

I particularly needed the reminder that focusing your efforts on a niche market doesn't mean that is the only niche you're working in.

As Adam points out, sometimes we do forget to do for ourselves what we do so well for our clients.
Posted by Jodi Salisbury, Albany, New York | Jan 08, 2009

Thanks for this simple approach. I've always tried to do way too much at one time which always got me discouraged and right back where I started. With these simple steps, I already feel like I'm making more progress than I ever had. Even in these early stages, I've been able to brainstorm more and mentally script out some different scenarios with a potential market. I have a pretty good idea about how I'll proceed in my business now.
Posted by Bob Stewart, Vashon Island, Washington | Jan 08, 2009

Ilise,

Thanks for the article. It really hit home with me, to the point that I stopped and wrote down all the lists you recommended. If you ask anyone who knows me you will learn that I rarely do that.

Thanks again.

Bob
Posted by Sarah Lawrence, Seattle, Washington | Jan 08, 2009

Great article Ilise!

I too, like many that have posted already, appreciate the concise, easy to approach tone of this article.

Thanks!
Posted by Caite Mathis, San Diego, California | Jan 09, 2009

Thanks so much for this. I will be sharing it with a new group of young alternative women entrepreneurs next week!
Posted by Lidia Varesco Racoma, Chicago, Illinois | Jan 11, 2009

Great article, Ilise. I thought the point brought up by Dawn about looking at your target market in light of the current economy was also very valid too. Thanks!
Posted by David Kalstrom, Maricopa, Arizona | Jan 12, 2009

Ilise,

I have a webcasting channel that reaches about 20,000 viewers. I believe your article would stimulate a great deal of interest. If you would like, you could run a webcast on the channel at no charge to you. It would be advertised nationwide by BrightTALK and you can also host it right on your site. You'd probably draw 100 viewers between the live and archived version. Had a fellow BizNik run a webcast last Friday on Social Networking, he can't wait to run the next one.

If you're interested, let me know. David Kalstrom 602-770-0012 www.outboundexcellence.com
Posted by Ilise Benun, Hoboken, New Jersey | Jan 12, 2009

Thanks David, that sounds great and I will give you a call this week.

And thanks to everyone for all these comments. I have posted Part 2 of this article on my profile. In it, I go into some detail about each of the 5 marketing tools and how they work together.

Part 3 will build on that with some more advance tools.
Posted by Susan Templeton, Bellingham, Washington | Jan 13, 2009

Ilise, My marketing plan works too well! (e- news, blogs, networking and ads being my fave raves). I would love to time release my e-news..but it's timely so that defeats the purpose. This creates rushes and lulls that are totally unpredictable --since my work is subject to market confidence and news that is at best hype. Any hints on planning for the unplannable? (besides Valium)
Posted by Robert Lani, Seattle, Washington | Jan 21, 2009

Thanks for such a good article it puts everything in perspective for me and give me the drive to start marketing my business.
Posted by Sean Hegstad, Bellingham, Washington | Jan 21, 2009

Ilise,

Thanks for the info. We have had our business for almost a year and I really appreciate some basic guidelines to go by for a sucessful 2nd year.
Posted by Chandra Mohan, Hyderabad, Andhra Pradesh India | Oct 30, 2009

very practical approach... thanks Ilise.
Posted by Shaun Lawrence, Irvine, California | Jun 15, 2010

Choosing my market is one thing I am struggling with. Everyone says to pick one or two industries, but then I feel like I am leaving other potential clients on the table. But I understand it will make me more attractive if I am an expert in their industry. Decisions...