Working at home in a business on your own, and having responsibility for managing yourself and all specialist functions of business, has been my theme for last 3 articles in this series.
One of most important departments in any company is marketing department. That particular “specialist” function is one that is critical to any business, small or large, online or offline. Now you are working alone in your own internet business, you are one who has to know:
· what internet marketing options are open to you;
· how to select which ways to promote your business and website;
· how you will budget for your advertising and other internet promotions;
· how you will monitor success of your different internet and advertising promotions once they get started.
· how to manage marketing of your business so that it is synchronized with other key aspects of business, especially finance.
Internet marketing is a massive and ever changing subject, so I will make absolutely no attempt to cover it in detail here. There is a considerable amount of material available for free on internet. All I can say is: absorb as much as you can and then try to take a down to earth view of it. That is what I have done in past, and have not got my fingers burnt with internet marketing ebooks I have paid for.
You are very likely to find that marketing is a major expense in your online business, whether it be on information, advertising, or time saving products and services. If you spend a lot of time online researching internet marketing, you will be exposed to a cascade of options. Some of those options will be a magnet for your wallet, others will just be a waste of your valuable time; some will be both. This is why you will benefit from viewing things as a manager would, especially when wearing finance hat.
If you do not manage your new online business, it will mismanage you and your bank account. You cannot risk going with flow, when you are totally unaware of where flow is heading, and that is especially true of marketing. However, all marketing has an element of risk, as has starting your own business. Finding right balance is not easy.
How Do You Manage Your Marketing?