Are You Investing Enough Money In Target Marketing? What should you be expecting to pay to advertise your products and services? Why do so many holistic and spiritual business owners have challenges around investing in this aspect of their business?
With so many free forms of advertising today such as Social Media Marketing, yes it is possible to start a business with very little investment. In many ways, it is cheaper than ever to start and begin marketing your spiritual business. But that doesn’t mean your business will grow or sustain itself without the right investment in target marketing.
What is Target Marketing?
Target marketing is marketing that is targeted to a specific audience of people that is most likely to be aligned with your products and services.
Examples of target marketing including
Paying to advertise in an online magazine for females over 40’s when you offer nutritional support or natural remedies for peri-menopause and menopausal issues.
Running an online advertising and marketing campaign for parents of highly sensitive children if you are an HSP Practitioner For Sensitive Kids.
Most Businesses Need To Invest In Target Marketing
The reality is most businesses don’t grow successfully unless you invest healthily in target marketing. The fact is most free promotional activities take a lot of time to convert into enough leads and can take too long to convert a constant flow of paying clients.
Every business needs some sort of marketing investment, especially in the early years. Most start-up businesses spend a large part of their initial investment in marketing and then at least 10% of the revenue they bring in. If want your business to remain sustainable, you need to invest in the things that will help that business to grow, so you really need to set aside a budget for investing in promotional activities or your business won’t have the necessary resources to be visible enough. The bigger and quicker you want to grow the more investment in time, energy, and money you normally need.
Now that doesn’t mean you need to stop using free resources available that are right for your business. But choose wisely the resources you use, look for resources where your niche/typical client will hang out. We are all unique, all different, clients go to different healers, therapists, coaches, and counsellors for all sorts of different reasons. It is important for you to know who is and who is not your ideal clients.
Why Many Holistic Businesses Don’t Invest Enough In Target Marketing
There are a variety of reasons many holistic and spiritual businesses don’t invest enough in target marketing.
One common reason is many holistic businesses genuinely believe they shouldn’t need to pay to advertise, this is even more common in those working in the spiritual field. Where there are a lot of beliefs around the belief that if you are running a more soul-aligned spiritual business and fully just show up. You will start attracting your ideal clients or soul clients. Sometimes there is an energy of entitlement that seems to make a healer, coach, or therapist an exception to other types of services or products related to businesses.
Although I certainly believe the more you fully align with your life’s purpose, attracting your ideal audience gets so much easier. I have met only a few people out of thousands who ever ran an extremely healthy and successful, spiritual business without some sort of target marketing and investment.
I Can’t Afford To Market My Holistic Business
One of the most common things therapists and healers say to me, is I can’t afford to invest in marketing my holistic business or spiritual business. But the truth is these businesses can’t afford not to invest in marketing, most struggle to survive or are simply running their business like a hobby.
The truth is many business owners will find the money for other things in their business especially things like candles, crystals, or the next training or certificate. But have a block around financially investing in advertising and marketing. Some actually think advertising and marketing should be free, so they really struggle to bring a regular flow of clients in.
Many of the spiritual and holistic business owners that come to me have a lot of myths, distortions, and energetic blocks around investing in their business. Some don’t recognise how important good target marketing is to any business, and how it is a key element to growing a healthy and successful business.
Pricing Your Products To Include Enough For Target Marketing
Your prices should always include a set amount not just for what you need to charge but include an amount for reinvestment into your business. So often if you charge approx £100 for something in your business at least £10 would be from your marketing budget or business to reinvest in target marketing what you need to keep attracting a constant flow of customers. For one of the online training courses I sell, which I sell at £597 I have to invest usually between 10- 20% of that in advertising to convert. And include costings for all the software, tools, admin, and time that is required to maintain and sell that training. The more you know your business figures and your industry average the better. Like most online businesses I have thousands of pounds that go into the advertising and running costs of my business, to create, sell and run my courses.
Target Marketing – Not Everyone Is A Potential Customer
Another common myth in the holistic and spiritual industry especially the healing industry is that everyone is a potential client. The Understanding The Wounded Healer archetype at some level can have us believing we are here to help anyone or everyone. When this is such an unhealthy distortion of the truth. As a large consumer and healer of the holistic and spiritual industry for 30 years, I can tell you, your job is to show up those you are most qualified and most suited to help. To identify your zone of genius and the Soul Clients you are most suited to help.
You’re ideal client or customer will often be very different from another person you know who offers the same modality. As a business owner, it is your job to get in front of the right audience, your niche. Another reason why you need to invest enough money to reach your target market is your Soul Clients.
Creating A Business And Marketing Plan
You do that by creating an effective business and marketing plan. If you don’t create an effective plan. You could spend more of your time doing marketing than actually doing what you are here to do. out your budget find you.
For many types of businesses, marketing can encompass more than a few hours of work in a week. But if you don’t invest or plan, it will be more like a few hours a day.
Consumers are more savvy than ever, they are bombarded daily with advertising and marketing that makes all sorts of dishonest claims or highly manipulative strategies. So today potential clients can take a lot longer to warm up before they buy. They need to connect with you, trust you. So it’s your job to build up a good audience-client relationship.
Allow potential clients to see that you are not just there for the sale, but you genuinely care and your business is there for the long-haul not just there for that one event or just for your latest venture.
Things You Need To Consider Before Doing Any Marketing
Know Your Main Business Running Costs?
What What You Want To Earn In A Week, Month, Year?
Identify What Your Ideal Clients Are Willing To Invest?
Identify How Many Clients You Would Need To Attract In A Week?
How Much Time And Money You Would Need To Invest To Attract That Amount Of Clients?
How Much Money You Need To Bring In To Cover All Outgoings, Include Unexpected Extras?
Think costs such as insurance, products, rent, rates, telephone, marketing; branding, business cards, leaflets, website, Facebook ads, directory listings, and holidays..?
How much money will you need to invest to convert your advertising into sales?
This is one area many businesses tend to get wrong. Now this is not always an easy amount for many businesses to figure out, for many reasons, as every business is different. Some holistic and spiritual businesses are working in a more saturated market, so may need to spend more on advertising and marketing to attract enough of their ideal audience. It can depend on so many factors e.g. type of service you offer, the quality of your product if your product or service is in demand or not, location, what you charge, your experience, and your expertise…
But what I will say is unless you already have a great network, most small businesses seriously underestimate this and struggle to survive simply due to not allocating enough money and time for advertising and marketing.
Why All Marketing Should Be Target Marketing
This is one of the biggest realities around online marketing especially if you don’t invest enough money in target marketing. And only use free advertising on Facebook or other social media platform. Because it is not easy to target market the right audience when you don’t invest. Paid Facebook, Twitter or Instagram adverts are definitely a different ball game; as you can tailor your adverts specifically to a specific niche such as sex, age, interests, language, location and so much more.
So the most cost-effective and efficient way to build your business is to invest enough in target marketing. If you don’t know who your target market is, well you will end up wasting a lot of time, energy, and resources promoting to the wrong audience. If you are a healer, coach, or therapist I would suggest you Focus on Attracting Soul Clients