Successful marketing … all about setting priorities and maximising exposure.As a self-funded business promoting Australian manufacturing, produce and services, funds are not always available to invest in promotion and exposure. What advice do you have on maximising the impact of the dollars spent and taking advantage of free promotion and exposure opportunities?
My business has a website BuyAustralianMade南京夜网.au, an app, runs a Google ad campaign, engages in social media and sends a regular newsletter to more than 2000 subscribers. Many of the 400 businesses we promote display our logo and link back to the website. My mantra is ”What you buy TODAY, will determine the Australia we live in TOMORROW. Make a difference, BuyAustralianMade.” Look forward to hearing your ideas and suggestions.
The first thing you need to look at is how all the marketing activity you’re engaging in is actually paying off. What is the goal for each channel you’re investing in? Are you looking to get more businesses involved? Do you want to increase your brand awareness? Are you looking to get your message out to more consumers? Or is it something else?
Let’s assume you want to get more businesses involved with promoting that they are Australian-made. What you need to do is figure out what kind of leads you’re generating from each channel and then set some goals for growth. Run some analytics to figure out how much web traffic your Google ads are producing for you and look at where the majority of new inquiries are coming from. If you can track where the leads are being generated, you’ll have a better idea of where you can ramp up your efforts.
One thing I’d definitely suggest is don’t be afraid to ask for “added value” options. In the media, there are two departments: advertising and editorial. If you’re committing dollars to ads, ask if you can do an interview for a feature on the business. If you’re writing content and acting as an expert source, see if they’ll throw in a free ad for your time commitment. Also look at events and sponsorship. If you’re sponsoring the local footy, don’t just settle for some signage at the posts. Ask if you can have an information booth with pamphlets and information to engage people. It’s those little things that can make a big difference and if you’re getting them for free, that’s even better.
I’ve been doing some software consulting, mostly from home in my spare time. I can back up all my data but the physical contents of my flat are also important to keeping this going so I would like to insure my possessions with something like renter’s insurance but in a tax-effective way. Is there anything I should look for or keep records of?
You have two options. The first is that you can get renter’s insurance with a contents policy, but let your insurer know that you’re running your business from home so they can cover you properly. The second option is to take out business insurance to insure the contents that relate directly to your business. As you’re doing software consulting and have a lot of data to protect, you should look into an information technology specific policy. Which option you choose depends on your situation. If you’re only worried about protecting your computer, I’d suggest going with the first one, but if you have extensive data and a server you need to protect, the second option would cover you more comprehensively.
With regards to the tax effectiveness of each policy, business insurance is claimable but contents insurance generally isn’t. This is simply because it’s difficult to decipher business assets from personal assets. I suggest talking to your accountant or insurance broker to find out what works for you based on what you want to cover. There are a lot of factors to consider and you want to make sure that if you’re paying a premium, you’re getting the adequate level of insurance to cover you in case of damage.
Mark Bouris is executive chairman of wealth management company Yellow Brick Road. His advice here is intended as guidance only.
If you have a question, email it to Larissa Ham at [email protected]南京夜网.au.
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