As a startup you are at a disadvantage to established businesses - people don't yet know about your awesome products and services. It is essential that you get the word out to people so that they can become your customers. Justin looks at the basics of Marketing and Advertising for a small business and the various considerations, strategies, and costs involved.
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ARTICLE TRANSCRIPT:
BLOG: How to Develop a Marketing Plan for Your Startup
TIME INDEX:
00:32 - Advertising or Marketing - Which is Better for a Startup?
03:13 - The Difference Between Marketing and Advertising
04:20 - Definition of Marketing
05:13 - Definition of Advertising
06:23 - Marketing - Target Your Specific Audience
09:00 - Establish Systems to Measure and Track Your Advertising
09:49 - Target the Timing of Your Advertising
10:51 - Create a Strong Brand
11:59 - Work on Your Online Presence
12:50 - Show Up in the Right Places
14:21 - Create an Elevator Pitch
17:29 - Advertising
17:47 - Leverage Your Community
18:24 - Collaborate With Other Businesses
19:07 - Network
19:31 - Give Speeches and Seminars
20:08 - Ask for Referrals
20:48 - Get Social
22:04 - Create a Blog
22:35 - Start a Podcast!
25:07 - Use Coupons
25:56 - Do a Give-Away
26:37 - How Much Should You Spend on Marketing & Advertising?
28:57 - Summary
USEFUL LINKS:
Financially Simple
Financially Simple on YouTube
Financially Simple on Facebook
Financially Simple on Twitter
Business Dictionary
Small Business Administration
How much to spend on M&A?
The CMO Survey
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BIO:
Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute’s Exit Planner Leader of the Year.DISCLOSURES:This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast’s guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast’s hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
Advisors who wished to be ranked in Investopedia’s Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers. Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy. Neither performance nor client experience, however, were considered. No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia’s Top 100 Financial Advisors List.
The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.
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