Your business is set-up: What's next?

Your business is set-up: What's next?

After you set-up your business entity, marketing the product or service becomes the major priority. How will you spend money in an efficient manner so that the revenue you generate from sales exceeds the money you spend on the business? In other words, how do you profit from this activity?

While our focus is on the financial-side, primarily accounting and tax, here are a few marketing strategies you might consider in the early stages of your new venture:

1. Targeted content marketing. Develop a content marketing strategy that speaks directly to the pain points and challenges faced by your customers. This could include blog posts, whitepapers, or videos that offer valuable insights and information specific to each industry.

2. Industry-specific advertising. Consider advertising in industry-specific publications or websites to reach your target audience where they are already consuming content.

3. Social media marketing. Establish a social media presence and create content that is specific to each industry. This could include industry news, tips and tricks, or behind-the-scenes glimpses into your firm's work with clients in each industry.

4. Referral marketing: Encourage current clients in each industry to refer their colleagues and contacts to your firm by offering incentives or rewards for referrals.

5. Partnerships: Consider partnering with other businesses in each industry to offer joint promotions or services. For example, you could partner with a software developer to offer joint accounting and software development services to clients.

6. Networking: Attend industry-specific events and conferences to connect with potential clients and establish your firm as an expert in each industry.

Overall, you should strive to develop a marketing strategy that speaks directly to your customer's needs and positions you as a valuable partner in their success.