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USE A DIVERSIFIED APPROACH TO MARKET YOUR BUSINESS!

June 21, 2013 by mrice

Tax Tips  are not a substitute for legal, accounting, tax, investment or other professional advice.  Always consult with your trusted accounting advisor before acting upon any Tax Tip.

Use a Diversified Approach to Market Your Business.
Before the rise of social media, most businesses used the same marketing techniques to promote their products and services. However, now that consumers have so many different outlets for entertainment, a one-size-fits-all approach to marketing is no longer as effective as it once was. In today’s world, consumers can find entertainment on television, online, on their smartphones and through alternative networks, such as Netflix and Hulu. For this reason, it’s very important for businesses to diversify their marketing efforts so that they can reach consumers through multiple mediums.
About Diversified Marketing
Diversified marketing involves using various marketing outlets to promote your company and build relationships with as many consumers as possible. With this marketing technique, you will not only increase the number of consumers you reach, but you will also increase the amount of communication each consumer receives from your company. For example, if a consumer’s primary entertainment outlets are the internet, Hulu and television, you can remind the consumer of your business’s existence through all three outlets. Implementing a Diversified Approach
Although diversified marketing requires more time and attention than a traditional, television or radio- only marketing approach, it isn’t much more expensive. Incorporating online and mobile marketing into your campaigns doesn’t require much investment, and most of the platforms are user-friendly and easy to understand.
To get the most out of diversified marketing, businesses should include as many outlets as possible in every marketing campaign. Acceptable outlets include television, radio, social media, text and multimedia messages, email, blogs and review websites. However, it’s important to remember that most marketing campaigns will need to be optimized for each of the outlets you choose. For example, if you create an advertisement for Facebook, it won’t typically work on Twitter, since Twitter limits the amount of content you can post at one time.
Marketing Tips
When your business implements diversified marketing, you must be careful not to oversell to consumers. Today’s consumers don’t want to be bombarded with overt advertisements, especially from multiple sources. In fact, using a campaign that overwhelms consumers in this way can actually be harmful to your business. Instead, you should try to offer consumers content that is useful and informative. For example, if your business focuses on the food industry, you can remind consumers of your existence by offering cooking tips. You can also encourage customers to make purchases by offering coupons, give-aways and other promotions.
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TAX ADVICE DISCLAIMER: In accordance with IRS Circular 230, any tax advice included in this communication, including attachments, is not intended or written to be used, and cannot be used by you or any other person or entity, for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions, nor may any such advice be used to promote, market or recommend to another party any transaction or matter addressed within this communication. If you would like such advice, please contact us.

Filed Under: Doing business

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