Diversity Universitiy

In life, the saying often goes “don’t put all of your eggs in one basket.” It’s true. And for good reasons.

Take a lesson from the Bernie Madoff scandal. Many of those investors trusted the majority of their money to one man. One man who stole it from them. They believed and trusted in one man to make them millions. Why? Because he talked a good talk and had a pretty good reputation. Everyone else invested with him, why not them? But, instead of putting all of their eggs in one basket, had they diversified their funds into multiple investment opportunities like stocks, bonds, high-yield accounts, CDs, IRAs, etc… when the Bernie -shit hit the fan, the end result might not have been so catastrophic.

Or what about the guy who made an entire move about eating McDonalds for breakfast, lunch and dinner. I think he gained 45 pounds in a matter of weeks, had trouble breathing, and experienced a variety of health issues all from eating the same thing… over and over again.

I could go on with more examples, but I’ll get to the point: Just like your money and food, when it comes to marketing your business, you’ve got to diversify your brand across multiple streams of medias to capture each and every client. No two are alike and therefore each has different shopping habits. Relying solely on one advertising stream is simply not smart. And risky if you ask me.

Take a marketing lesson from the big guys. Here’s an example…..If you live in Atlanta, I’m sure you’ve heard of the BODIES exhibit at Atlantic Station. It’s an exhibit of all the parts of the human body. Widely popular across the world, the traveling show comes and goes in Atlanta at various times of the year. You can’t live in Atlanta and NOT see one of their ads promoting the exhibit. They have billboards, bus wraps, newspaper ads, heck, I’ve even seen them on lamp posts. Why? Because their big expensive ad agency knows, they have to diversify their advertising budget and marketing campaign across multiple mediums to capture the highest return of impressions.

So because my expertise is in the wedding industry in Atlanta, I’ll touch on that. I’m not saying you have the budget like BODIES does, but you can mimic the marketing plan of the pros at a level comfortable for you. It’s simple: determine your advertising budget and allocate those funds across multiple streams of marketing to increase your chances. Include online placement, print ads, boutique-type opportunities like The Bridal Bar or Studio Wed, blogging, social networking and bridal shows. If you can’t afford them all, pick the ones that lend you the highest return on impressions. Don’t forget there are results and relationships attached to each option so you should consider those as well, but mainly remember it’s called a marketing plan, not a secret recipe. The only tried and true way to gain more clients is to promote across multiple, TARGETED mediums at a level that is within your means.

It’s all about filling your sale funnel. The more impressions, the healthier you’re sale funnel will be. Although not all of those impressions will equal sales, they will increase the chances of those impressions actually turning into sales.

It’s all about increasing the odds. Trusting one brand to do that, will only leave you disappointed.

I’ll talk more in detail about the sales funnel next post…