Episode 119: Brand Building and Money Making Marketing Types for Small Business Owners
In this quick tip episode, Fiona gives an overview of the two types of marketing for a small business owner - brand building and money making. She also shares what to expect when you join her 8-week online course - Marketing For Your Small Business. Listen now to find out how to join.
Topics discussed in this episode:
Introduction
Marketing for Your Small Business
Brand Building and Money Making
Conclusion
Get in touch with My Daily Business Coach
Links/Resources Mentioned in this episode:
Episode transcript:
Hey there, welcome to Episode 119 of the My Daily Business Coach podcast. Today it is a quick tip. And if you've ever been worried about your marketing or you feel like you don't understand marketing, then stick around because this tip is going to be super duper helpful for you.
Now before I get stuck into that, I want to acknowledge that I am recording this episode 119 at North Warrandyte. And before we get stuck into this episode, I want to acknowledge the Wurundjeri people of the Kulin nation as the traditional custodians on this land in which I am North Warrandyte. I want to pay my respects to their Elders past, present and emerging, and acknowledge that sovereignty has never been seated.
So before I jump into the tip, just a reminder, thinking about what can you do if you are based in Australia or anywhere in the world, what can you do? What's one small step that you might take today, so that it promotes equality for everybody?
Alright, so let's get stuck into today's quick tip episode.
So as I mentioned before, marketing can be something that people feel kind of stuck with, I know that I work with a lot of creative small business owners, and they're sort of in that kind of, I don't know, this blurry place between knowing that they need to do marketing, but also hating marketing. And I think we get so many kind of challenges that are brought up because our perception of marketing has been colored by all sorts of experiences in the past.
So today, I'm going to be talking about a tactic that you can use when it comes to your marketing. And it's really to divide your marketing into kind of two different camps, two camps that I talk about quite often with my clients. Now, before I get into those two camps, I also want to highlight that we are now officially open for a second round of Marketing For Your Small Business coaching program. So that involves the Marketing For Your Small Business online course, which is always available, you can find that at Marketing For Your Small Business, but three times a year, we bring out an eight week program to help you actually finish the course. So if you've already bought it, look out because there'll be an email coming to you at a very discounted rate. And if you haven't yet, you can purchase the coaching and course program and what you get is instant access to the course. But also eight weeks of group coaching. So there's eight key modules in the Marketing For Your Small Business online course. And what you can do is in the coaching program, you work through a module, so module one, and then you come to the coaching session about that. So you have to have done your homework to come to the coaching session, which a makes you super accountable and make sure that you actually finish this course and get your money's worth.
I know so many people buy courses and never actually finished them. And then you can come to the coaching group coaching element, which is an hour on zoom, and you can meet the other people in the team. And you can kind of work through any questions that that module raised for you. You can ask questions with me, you can get feedback from everyone else, we actually share marketing plans at the end. So you not only get, you know the costs and all the understanding, but you actually have a solid plan that you then present to everybody else in that the member group. So that is available now. It's open until Tuesday, the 10th of August. And we're going to be starting shortly after that.
So if you're like, I really want to get a hold of these, I really want to understand marketing, not only to create your plan for the rest of this year, but also create a kick ass plan for 2022 then definitely go and sign up over at marketingforyoursmallbusiness.com.
Alright, so back to today's episode, when I talk to people about marketing, I often because sometimes it can be difficult for them to really think about, well, what do I do that's marketing, and what do I do that's not and is marketing, just selling.
So I get people to consider their marketing in two camps. One - being brand building marketing, and one - being money making marketing.
Now sometimes those two will crossover and that will be awesome because you are not only building your brand, you're also making money. The other times though, you can often find that a lot of your marketing will fall into either money making many marketing money making, which is really where you're selling. And sometimes people can think that that's all marketing is and it actually is not at all.
The ultimate aim of marketing is to build brand loyalty. So you also need to be building your brand because more and more will see this especially post COVID people are buying according to brand, rather than always according to price which is always going to be undercut by somebody else. They're buying because they love what the brand stands for. They love the people behind the brand. They love the ethical nature of the brand. They might love that the brand does x, y and Zed that makes them feel all is different emotions.
So you want to be thinking about in your business, what is the brand building stuff. So that could be collaborations where there isn't a direct product or service to buy. So it's sort of, I'm collaborating, I'm going on someone's podcast, it could be, I'm doing more media, it could be I'm doing speaking gigs. And again, those could be paid speaking gigs. But sometimes they might be unpaid speaking gigs, but they're about building that brand.
The other thing will be money making. So that is literally what I just said before about, hey, come and join us at Marketing For Your Small Business, I am directly guiding you to purchase something, or to take an action on something. And so you will, of course, in social media posts and other things, be asking for a sale. And if you're not doing that, make sure you're doing that, because it can be one of the biggest things that I find is I go and have a look at people's social media.
And I'm like, Oh, I don't actually know what you sell, or I don't know what the services are that you provide, or I've had a quick look on your website. And it's not clear how I actually purchase with you. So for instance, I see it quite often in service based businesses like photography, interior design, where or architecture, you've got these beautiful images of a house or something you've worked on. And yet I go through the gallery, I look at them, and there's no button to get in touch, there's no kind of path to purchase very clearly stated for me. Other times with product-based businesses, they too much sit in the money making. So, all they're talking about is the product. Here's the product in orange, here's the product in yellow, here's the product in purple, here's the product, you can get free delivery tomorrow. And it's sell, sell, sell. And sometimes that can turn people off. Because we go back to the idea of people buying because of the brand. They're not really discovering why you built this business, why does that product improve my life? How are the people behind the business? You know, how are they paid? Like, what's your supply chain? What does it look like for me to get this product? Where is it made? All of those things? Where was the gap in the market? And how did you close that with this product, all those things are in brand building, and they're talking about the product and asking for the sale is in moneymaking.
So, it's a very simplistic way of looking at marketing, but it can be super helpful to look at your own marketing in the last kind of month or 90 days. And consider how much of it was brand building, and how much of it was money making. Because you might be tipped the scale either side.
And sometimes you will need to be tipped the scale either side, there might be big launch times in your year that you're going to be selling more. There might be times in the year where actually it's all about building the brand up, especially if you're just sort of getting started.
Or maybe you've changed direction, or you've rebranded. So that is the tip really consider in your own marketing, whether from the last week, the last month, the last 90 days, how much of it is brand building, how much is money making?
Where is the opportunity for it to be both, which is awesome. And really think about going forward. If you can even you know, you can even look at your posts schedule and put BB for brand building an MM for money making or think about campaigns that you've got coming up not just on social media, but away from social media, because we all know I have my love hate relationship with social media and business. really be thinking how am I guiding people to understand what my brand is about to get my brand out there? And then how am I guiding those people to buy what it is that I'm offering.
So, I hope that has been really helpful. Again, if you would like to join us, we do cap the group so that everyone gets a chance to talk about their marketing issues. You can come and join that eight-week online coaching and course program and you can do that and find out all the information over at marketingforyoursmallbusiness.com and as I said before, it will be open until Tuesday the 10th of August 2021.
If you've got any questions about it, don't hesitate to reach out to us hello@mydailybusinesscoach.com or you can hit me up in the DMS at @mydailybusinesscoach. That is it for today. As always, you'll find the show notes including links to Marketing For Your Small Business over at mydailybusinesscoach.com/podcast/119. Thanks so much for listening. See you next time. Bye
Thanks for listening to the My Daily Business Coach podcast. If you want to get in touch, you can do that at mydailybusinesscoach.com or hit me up on Instagram at @mydailybusinesscoach.
