Spend Less and Grow Sales

Transcript:

Hi, I’m Syama, CEO of Scaling Retail, and today I’m going to talk to you about how to spend less money and increase your sales. I know, a very exciting topic. The first thing I always ask all my clients to do is to really evaluate all of the different marketing channels that you are currently spending money on. You know, if you’re like most people, chances are you’ve been doubling this year already, Facebook advertising, Pinterest advertising, Instagram advertising, maybe even a little bit of Twitter advertising, potentially some SEM on Google. There are lot of different places to spend your money, but are you spending them in the right places?

Once you’ve established that you’ve probably been spending them in too many places, it’s time to narrow it down and focus on the channels you want to be in. I highly suggest obviously having a combination of things like Facebook and Instagram, and maybe it’s something like Pinterest for your brand, maybe it’s something like SEM on Google for your brand, but it really depends on your customer demographics and who you are marketing to. That is something you really need to sort out and hone in on so you don’t spend your money frivolously.

Now, the next thing that I think is super important when trying to get this off the ground is honing in on your newsletter marketing. Newsletter marketing is one of the most valuable tools that you can use to continuously engage your customer. That means you have access to people who love your brands already. You can continue to market to them on a weekly basis, sometimes multiple times a week. Did you know you can even segment your list so you can target people who are recurring customers, people who’ve signed up and have never purchased anything? And then of course those people who’ve been on your list for maybe a year, maybe you want to activate them again. So, start to think about your list building and segmentation in terms of what is going to help you start to get the most regenerative income. It’s not going to be one email newsletter to every single person on that list, I guarantee you.

Lastly, think internal. Think about how you can adopt a lot of the core competencies of what a PR firm could do for you. PR firms are magical, right, you spend $2,000 to $5,000 a month on them, sometimes even more, and these PR agencies are there to be able to bridge those relationships with stylists, editors, influencers. They help you get your product placed, right? The PR people are also, of course, a huge expense. So if you can start to think about ways on a regular basis that you can be pitching all of these different channels, start to build those relationships, what you’re actually going to find is you might save yourself a couple thousand dollars and those relationships that you build will be organic, they will be lifelong relationships with these editors, with these influencers, with these stylists. It does take time, but it is totally possible to do it on your own.

All right, guys, I hope this was helpful. Again, spend less money, absorb more things for yourself. Think more strategically about how you’re leveraging your current time, your capacities, and what it is you can actually do for your brand. I’m Syama Meagher, thank you so much for watching. Please feel free to leave a comment below and shoot me an email over at hello@scalingretail.com. Again, come find me. I’m not only on YouTube, but I’m on Instagram, Twitter, and Facebook, and I hope to hear from you soon. Thanks, bye.