The Importance of a Marketing Strategy

Hello All,

We know that every small business needs a marketing strategy. Whether you provide services (like myself) or products or a combination of both, the most important thing you need to know is how you are going to bring in customers.

When I first started, I tried numerous strategies. Among other things, I reached out to my network, I worked for start ups (for “experience”), I advertised on Craigslist (which was good for local services) and I started my blog to improved my website’s search performance. I didn’t have a cohesive plan per se, but as I started to see the results of my efforts, I was able to glean clarity and focus in on what was working.

Of course every business is different and has access to varying budgets (which are usually limited when starting your business). Also, every business owner’s skill set and personality are unique. These factors will inform the direction that you take. Some, like me, will throw everything at the wall and see what sticks in the early stages (especially if you have the luxury of time). Others will have a more methodical and focused approach. Regardless of the journey, we all want to arrive at the same place which is a successful business that people know and love.

Whatever stage of business you are in, you want to allocate your dollars wisely. The key to successful marketing is gaining an understanding of your audience, their wants and needs, and building a brand that captures their interest (and also aligns with your values and vision). The number of ways in which you can market your business can be overwhelming so it is important to focus on what you think will give you the best bang for your buck. And while it can be gratifying to have thousands of followers, it is only people that buy from you (either now or in the future) that really count.

You can read the full newsletter here

Ronika Khanna

Ronika Khanna is a Chartered Professional Accountant (CPA), Chartered Financial Analyst (CFA), and the founder of Montreal Financial. Her previous experience includes roles at PwC and ING both in Montreal and Bermuda.

She started her business 15 years ago with a focus on accounting, finance and tax for small business owners, startups, freelancers, and the self-employed. As a small business owner herself, Ronika leverages her firsthand experience to offer practical advice and bring clarity to complex financial concepts.

She has been featured in media outlets such as CBC, the Toronto Star, and The Globe and Mail and has authored several books to help small businesses with their finances.

You can connect with her via her biweekly newsletter, Twitter, YouTube, and Linkedin.

She also offers consultations to small business owners and individuals who want personalized guidance.

https://www.montrealfinancial.ca/about
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