Everyone talks about multiple streams of income, but not too many people talk about multiple marketing streams. I’ve come to believe that having multiple marketing streams is at least as important as having multiple streams of income.
But first, let me define what I’m talking about. Multiple marketing streams is a term I’ve just coined and it means using a variety of marketing tactics simultaneously to bring fresh leads into your business.
The problem is too many people rely on one or two marketing streams. Now, when those marketing streams are bringing in leads like mad, this seems like a good idea. The problem is what if one or both of those streams dry up?
And yes, this CAN and DOES happen. Frequently. And quickly. (Like overnight.) It happens if you’re one to say “word of mouth is all I need.” Or worse, most of your business comes from one or two referral sources. Something happens to those referral sources and you’re done.
Maybe you’re thinking you’re safe because you’re paying for advertising. Unfortunately you’re not, it happens there too — I’ve known more than one business that was left scrambling when something has happened to their Google pay-per-click accounts.
Having multiple marketing streams also stabilizes your business. You’re far less likely to have “feast or famine” cycles in your business the more streams you have. Plus you’re in a much better position to grow your business.
Okay so what are some of these marketing streams? Below is a list (although it’s far from an exhaustive list). Use it to brainstorm more ideas for you business but by all means, do NOT use it to overwhelm yourself. There’s no need to implement all of these at once. (And don’t forget, you CAN hire people to help you implement these tactics — it doesn’t have to be all you.)
Online (driving traffic to your web site)
* Paid advertising (banner ads, PPC, etc)
* Submitting articles to portals
* Submitting press releases to portals
* Social networking (i.e. Facebook, Twitter, Linked In, FriendFeed)
* Blogs (note — blogs can drive traffic to your site if you design it for that and update it regularly)
Affiliates/Joint Venture opportunities (i.e. finding ways to have other people promote you to their network/email list)
* Speaking live at events
* Speaking on teleclasses (either your own or being interviewed on other people’s teleclasses)
* Being interviewed on other shows (radio, internet radio, etc.)
* Getting interviewed in publications
* Getting articles placed in publications
Offline paid advertising
In person networking
Word of mouth/referral sources (yes this is important but it shouldn’t be your only source.)
Following up with leads. (What? This is about NEW marketing streams not following up with leads you already have. Well, I’m here to tell you those leads are going to disappear pretty quickly if you don’t have a few tactics in your marketing toolbox to follow up with them. Also, the more you market to your current list, the more likely it will be your current list will referral you to other people.)
* Online — with an ezine, teleclasses or some other way of providing content
* Offline — mail postcards, printed newsletters, direct mail pieces or even pick up the phone.