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July 19, 2024

How I Learned the Power of Sales and Marketing

Today's article features insights from Jenny Jones, a multifaceted professional with expertise in Masters Finance, Accounting, and Information Systems, and founder of the Growth Academy.

How I Learned the Power of Sales and Marketing

Have you ever been laid off and not understood why? That happened to me many years ago, and it completely changed how I see business. You see, my background is in finance and business structure. I always knew what made the cash register ring, but getting laid off taught me a valuable lesson about business that I want to share with you.

Sales vs. Support: The Two Pillars of Any Company

So, picture this: I’m sitting in my office after being laid off, racking my brain trying to understand why it happened. Then it hit me—there are only two types of people in any business:

salespeople and support people. That’s it. When you look at a large company like AT&T or Amazon, it becomes clear. The salespeople carry the entire company. If you don’t have sales, you don’t have revenue, and without revenue, you can’t pay the salaries of the support staff. Once I understood this, everything clicked into place.

The Big Marketing Question: Outbound or Inbound?

Fast forward to me starting my own business. I had to decide how to grow it: outbound marketing or inbound marketing? Outbound marketing is all about reaching out to potential customers—cold calls, emails, direct mail, and so on. Inbound marketing, on the other hand, is about creating content that draws people to you, like a magnet.

I leaned heavily toward inbound marketing. Why? Because it converts the highest. When you create authentic content, people are naturally attracted to your business. It’s all about the law of attraction. You share valuable information, and people come to you.

Money vs. Time: What Do You Have More Of?

Here’s a crucial question: do you have more money or more time? If you have more money, you might invest in outbound marketing to generate leads quickly. But if you have more time, you can focus on creating content. Personally, I love creating content. It’s like planting seeds that will grow into a strong, flourishing business over time.

Busy Work vs. Revenue-Generating Work

A couple of years ago, I wanted to take my business to the next level. I attended a session that changed everything. The speaker said, “There’s busy work, and there’s revenue-generating work.” That hit home. Every time I sat down to work, I started asking myself, “Is this busy work, or is it going to generate revenue?” This simple question helped me focus on activities that moved the needle.

Know Thy Demographics and Psychographics

One of the biggest game-changers for my business was understanding my demographics and psychographics. Demographics are the basic characteristics of your target audience—age, gender, marital status, etc. Psychographics go deeper—they reveal your audience’s interests, values, and lifestyle choices.

For example, I run financial boot camps for youth. Initially, I marketed to everyone, but then I realized my main customers were women. They’re the ones who want to enroll their kids in summer and spring break camps. So, I started targeting women specifically. I even learned that they prefer Starbucks over Dunkin’ Donuts, which helped me tail or my marketing messages.

The Facebook Trap: Why Friends Aren’t Your Customers

Another lesson I learned is that your friends on social media are not your customers. I used to post about my business on Facebook, but my friends weren’t interested in buying from me. Now, I focus on building relationships with potential customers outside my friend circle. It’s about reaching the right people, not just everyone you know.

The Work Behind the Scenes: Building a Community

Now, let’s talk about platforms like GoBrunch. It’s a fantastic tool, but it requires work. You can’t just setup a room and leave it. You need to engage with your community actively. Know your audience, create content for them, and build a relationship. It takes effort, but the payoff is worth it.

Conclusion: Focus and Consistency Are Key

To wrap it up, growing a business is about understanding the difference between sales and support, choosing the right marketing strategy, and focusing on activities that generate revenue. Know your target audience deeply, avoid the trap of relying on friends as customers, and put in the work to build a strong community.

Remember, the journey to success is about being focused and consistent. Keep asking yourself, “Is this busy work or revenue-generating work?” and you’ll see your business flourish.

About the Contributor: Jenny Jones, Financial Growth Coach and founder of the Growth Academy. Connect on visit website.

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Angela Silva

Marketing and Social Media

How I Learned the Power of Sales and Marketing

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