What Marketing Tool/System Should I Get?
(Note: This post was inspired by my Mentor, Ryan Chapman. And, his book, “How to Fix Your Funnel”)
I have to admit, spending 17 years (out of 21) in the Navy as an IT causes me to nerd out on the “plethora” of marketing tools available to business owners.
To a fault I tend to buy any new tools that comes out on the market just to see how it works. I accept my fault because I’m a marketing strategist…its part of my job to advise clients on tools that could help the business grow or what tools not to waste time on.
But, as a business owner you don’t need to buy or use every tool on the market. Most likely there are only a few tools you need to build a profitable business.
I’m almost willing to bet you have tools or programs right now that you haven’t touched in the last six months…maybe even some you have no idea how to use.
Well, my goal in this post is to help you focus less on the tools and more on asking the right questions.
Here we go…
The right question
Let’s get a few things out of the way.
First, you are the business owner. Which means you should be more focused on the things that bring more profit in the business.
Second, you are probably losing money by being the one who is trying to figure out how to work all the tools you currently have and the ones you wish you had.
Lastly, you have no choice but to focus on the things that really move the profit needle, because the marketing tools are constantly changing and fierce competition among tool makers leads to more confusion in the market.
So, the question is not “What tool should I buy?
The real question is…
“What is the core limitation preventing my business from generating more profit?”
Think about it, why do we buy tools, hire people, buy courses, go to events? As business owners we are looking to decrease the limitations on our business, so we can increase profits!
Next question: What is the Ideal Solution
We’re not done yet…
Okay, so you’ve identified the core limitation, now what? Now, you map out the ideal solution.
Not, the solution you can afford. Not, the solution you feel you could implement yourself. The Ideal Solution.
Understand this, by reducing or eliminating a core limitation on your business, you have the potential to increase your profits in a big way…not 10 or 20%…you could double or triple your profits in a short time.
I like to think of removing a core limitation like doing a bench press. If you’ve ever done a heavy bench press you’ve felt the limitations of your upper body strength. But, what happens when you finish a heavy bench and you lighten the weight by 80%? Yep, if feels like nothing and the reps just keep going.
This is why you should map out your ideal solution, because even if it takes a little extra brain power, manpower, or money…it could literally change your business!
Next question: Technology — Tools, Systems, People
Now we get to the part where you start researching what Technology will help you facilitate your ideal solution.
When I found out about digital marketing back in 2012, I learned about a tool called, Infusionsoft (now Keap and Infusionsoft by Keap). I knew it was out of my price range, but I wanted to have a tool that would allow me to implement my ideal solutions.
Here it is 2019, and I’m still an Infusionsoft user. Yes, there are other tools. Yes, I’ve used pretty much every Infusionsoft competitor. But, none of them come close to the power of Infusionsoft.
This is not a pitch for Infusionsoft, but an example of choosing a tool based on what I believe to be a way to facilitate my ideal solution versus being cost or effort conscious.
On another note, you should look at the people who can execute your ideal solution. Even if you’re bootstrapping your business, you can find someone with more knowledge than you in a specific area or tool.
We are in a special time where bartering, joint venture relationships, and strategic partnerships are a thing. And, the global economy is real…you have an entire team of people working for you, in another country.
Contrary to popular belief many countries like the Philippines, Mexico, Europe, and India have very talented people, who are passionate about their craft. For example check out DUDE Agency.
Before you ask “What Marketing Tool Should I Get?”…run through this checklist:
- What is my core limitation
- What is my ideal solution to reduce or eliminate my core limitation
- What technology (tool, system, people) will help my implement my ideal solution
If you find yourself stuck after reading this post feel free to reach out…
Have a good one,
10X Strategies Consulting