Bootstrapped Budgeting Marketing Your Solo Biz

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How can you invest in your business when your finances are inconsistent? We want to teach you how you can build a sustainable business even with inconsistent income! We're teaming up with Danetha Doe of Money & Mimosas to present Bootstrapped Budgeting: Marketing Your Solo Biz. This Slideshare is for you if: You currently have a side hustle that you'd love to take full-time You're making enough money in your business but still have a hard time predicting your income every month You have big dreams of building a massively successful business that supports you
Transcript
  • 1. Bootstrapped Budgeting: Marketing Your Solo Biz Presented by Meet Edgar and Money & Mimosas
  • 2. Overview This is for you if: ● You are a freelancer or small business owner ● You wear a lot of hats ● You want to grow your business, but don’t have a huge marketing budget
  • 3. Overview Your goals for 2019 may be: ● To grow your social media followers by 2,000+ ● Start paying yourself a consistent salary
  • 4. About Us Hi, I’m Megan! I’m your onboarding specialist here at Meet Edgar. I live in Colorado and my dream remote working location is a chairlift :) Tag us on Insta or Twitter @meetedgar Using #edgarchallenge For a chance to win some SWAG
  • 5. About Us Hi, I’m Danetha! Top 40 under 40 accountant by CPA Practice Advisor. I live in San Francisco and my dream remote working location is a Korean Day Spa:)
  • 6. Today you’ll learn: Marketing and Money Tips: ● Insider secrets on how to grow your social media following ● Marketing strategies that won’t break your bank ● How to create a marketing budget
  • 7. Today you’ll leave with: Step by Step Guide: ● 3-step process for your marketing team revenue goals ● 3-step process for your social media automation engagement goals
  • 8. Imagination Station What are your business goals? ● Become social media famous ● Become a sought-after speaker or consultant ● Pay yourself a consistent salary
  • 9. Current Reality Current business challenges ● Low engagement on social media ● Very few prospects ● Struggling to earn a consistent income from your business
  • 10. Cash flow challenges Current Reality Low social media following To get from where you are to where to you want to be, it will take a marketing and financial strategy. Strategy Consistent income Social media fame Dreamland
  • 11. Inconsistent Income Cash Flow Challenges are a result of: ● Poor Pricing Structure ● Inconsistent Outreach
  • 12. Marketing = Outreach Creating a Marketing Budget ● Once you have a solid pricing and business structure, then you need to market it! ● Use the 50/30/20 rule to decide how much money to spend on marketing
  • 13. 50/30/20 Rule Creating a Marketing Budget ● When you have inconsistent income, use this percentage rule to guide your spending choices: ● 50% : fixed expenses ● 30%: growth expenses (marketing and sales efforts) ● 20%: fun (creative experiments)
  • 14. Marketing spend Where should you invest your marketing dollars? ● Choose one service or product that will be your main focus ● Create a marketing strategy for the one product or service ● Utilize the majority of your growth budget to market this one product or service
  • 15. The two biggest mistakes Not spending money or spending without a plan ● What you put into it, you will get out of it ● If you spend zero dollars, you will receive zero dollars ● You don’t have to spend a lot, but you do need to be strategic
  • 16. It's about how you've been banking social capital with your followers Social Media and ROI ● How have you been engaging with them and how have you been building trust? ● Remain human-centric in the work you do - develop a deep level of understanding in what will inspire your followers to action ● You don't need to build your followers up to a 'magic number' before you start to see returns.
  • 17. Make meaning not money Identify your biggest value prop and don't overwhelm people! ● In an attempt to reduce this anxiety, consumers tend to simplify the process by selecting only a couple of criteria (say price and quantity) to determine the best value for money. ● Appeal to many mindsets and remember everyone is in a different stage of the buyer's journey ● Identify pain points and fears, and overwhelm them with value and information
  • 18. Create content that can solve people's problems and eventually they will see you can provide them with the solution that will solve it for them. ● If you don’t have a long term strategy you will have trouble seeing what is right in front of you and why it matters ● Why do you want more followers? ● What are you going to provide them? ● Not having these questions answered is a terrible way to build a community. Have a vision, have a strategy ● Grow an engaged, excited and passionate audience: serve them before pitching to them (80/20 content rule)
  • 19. Focus on Evergreen Value Added Content But wait...didn't they kill organic reach for more ad space? ● Use Organic content to validate where to spend your money on Social Media ● Facebook insights and Twitter analytics: Small reach but big engagement? BOOST THAT POST! ● Hang out in the communities who need your product or service to find the people who will pay you (Keep the Social in Social Media
  • 20. “You don’t need to see the full staircase to take the first step” - MLK Getting Started ● Myth: Brands Matter Later ● Truth: Brands are Evolutionary not Revolutionary ● No More Excuses: “Doing XYZ is not a priority” vs “I don’t have time focus on that” ● Create Long Term Goals with Short Term Benchmarks (Lead and Lag Indicators) ● 168 hrs in a week: Schedule, Batch, and Protect your time!
  • 21. THE BUTS…..
  • 22. Keeping up with the big brands Focus on: ● Don’t reinvent the wheel… research those in your industry ● Not letting short term affirmation of likes undermine your long term success ● Knowing you can do social media better than big companies because you have the time to personally connect with your followers ● Take advantage of knowing you can be rich in personal connections
  • 23. Establish your why Figure out why your brand matters ● What is your why? What is driving you? Ask yourself what you are trying to do ● People don’t buy what you are selling, they buy WHY you are selling it these days ● FOCUS: Follow One Course Of Action Until Success ● Ask Yourself: If you did know the answer, what would the answer be? If you had a million followers, how would you show up for them?
  • 24. Brands That Stand Out in 2019 A brand becomes important because the audience assigns meaning to that product ● Create content for social media focused on establishing a feeling or a moment with your followers and inspires them to take action ● Pay attention and tell a story ● Know when and where it is convenient for your followers to consume content ● How can you make content that highlights your biggest truth to build authenticity and authority in your field
  • 25. Three-step process Marketing Revenue Goals 1. Align pricing with revenue goals 2. Choose one product or service as a focus 3. Apply the 50/30/20 rule
  • 26. Three-step process Marketing Automation Strategy 1. Know Your Target Audience & Openly Listen to Your Communities Voice 2. Batch Your Content & Stick to Your Strategy 3. Don’t Play Golf In the Dark: Analyse, Know Your Numbers & Experiment
  • 27. Thank you! ● 1 Month Free from MeetEdgar with code: Mimosa ● Invitation to a group Money Q&A with Danetha
  • 28. Contact Info Support@meetedgar.com hello@moneyandmimosas.com
  • 29. Bootstrapped Budgeting: Marketing Your Solo Biz Presented by Meet Edgar and Money & Mimosas
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