In the last couple of weeks I?ve heard two different marketing presentations that give very different advice and I wanted to share them with you and let you decide which is right.
At the first presentation, we were shown the idea of a wheel with a number of spokes. The presenter said that the more marketing activities you have ? the spokes on the wheel ? the safer you are. If one of the spokes breaks ? or if one of your marketing activities fails, you can fall back on the others. For example, one of your spokes might be a direct mail campaign. If it doesn?t achieve the results you wanted, it?s not the end of the world, because you?ve still got your monthly email newsletter being published, your Twitter account building up your reputation and your talks at networking events helping you sell your products and services. It was suggested that you can have as many as 10 spokes on your wheel. I currently have at least 10 ? a website, a blog, Twitter, an email newsletter, networking, presentations, LinkedIn, Facebook, referrals and webinars coming soon.
At the next presentation, we were asked to write down the top five marketing activities that bring us work, in order of effectiveness. I wrote networking, presentations, referrals, LinkedIn and email newsletter. The top three bring in considerably more business for me than the others. It was then suggested to us that we stop doing the fourth and fifth items on the list – completely. The presenter said there was no point in spending any more time or effort on activities that don?t bring in the most new business. He was actually advising me to stop sending the email newsletter I?ve been writing for 8 years and to get off LinkedIn! Later at that meeting I took on a new client. If it hadn?t been for my newsletter, I wouldn?t have been invited to the meeting in the first place.
So which way is the right way? Do you use numerous marketing activities to support each other and work as back up; or do you stick to the few activities that bring you the most business? Do you do a little with a lot, or focus your time and effort on what really works?