Every business owner understands the necessity of marketing their business: letting potential customers know you exist, what product or services you currently offer, the benefits of purchasing your offerings or hiring you directly and, of course, how to contact you.
But what if you want to change or expand your business? Offer new products or services that, while different, are still potentially relevant to your audience?
In other words, how can you reinvent yourself or your business?
Business Reinvention and The Law of Marketing Attraction:
It all comes down to convincing your potential customer that you are the “go-to expert” for what they want and need.
Because there’s a Law of Marketing Attraction: What You Put Out There Is What You Get In. If you continue to promote “the usual,” that’s what kind of work you’ll get.
Expanding your business requires developing a new product, service or “angle” for your business and then making sure you can provide that offering in a quality manner and at a cost that is profitable to you.
The next step in the Law of Marketing Attraction is Putting Out There What You Want To Get In:
- Promote the new offering on your website
- Mention the offering on your business card, on social media, in any collateral materials and in your email signature
- Blog or write articles that focus on your offering
- Publish that custom content on your website, on your social media platforms, on LinkedIn Pulse, in industry publications and spread the word through email marketing
- Arrange speaking engagements at which you can talk about your offering (and how it can help the audience)
- Expand your audience by attending and even sponsoring networking events
- Curate and publish content from outside sources that speak to the expertise you’re touting
- Back up your reputation with case studies, testimonials and recommendations
- You ask: But what if I don’t have enough experience with my new service or product yet? Let existing clients (who are a potential audience for your new offering) that you now do______ or provide ______. Execute projects on spec — for little or no charge — to gain experience.
- If applicable, volunteer your new services or product
- Be willing to “pivot” if necessary — adjust your offering depending on responses to your new service or product
- Be sure to solicit reviews, testimonials and recommendations from customers who’ve tried the new offering (and include these in your promotion)
One caveat: your new product or service should appeal to your existing audience and not be something too different from what you are currently offering. If that’s the case, you may want to consider it a new business and operate and marketing separately from what you are currently doing. By working both companies simultaneously, you can, at some point, transition to the new business.
Let’s talk about how your company can implement the Law of Marketing Attraction. Get a FREE! 1/2 Hour Marketing Evaluation: Email Martha or call 310.266.6992
Martha Spelman is a Los Angeles-based small business branding, marketing and strategy expert. Using traditional and online marketing methods to start, grow and promote businesses, she consults with and coaches entrepreneurs, Professional Services and B2B companies. Let’s chat!