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THINKING BUSINESS
a blog by Chris Barrow

Advertising - Advocacy - Attraction - how do you intend to grow your business?



Advertising:


Trying to capture the attention of strangers by interrupting them in a way that will get their attention - attracting price-shoppers, bargain hunters and tyre kickers.


Advantages:

  • It's off your desk - you don't have to think about it

Disadvantages:

  • Expensive;

  • Often difficult to measure actual ROI;

  • Takes a long time (even according to the agencies who offer it);

  • Low conversion rate;

  • Exhausting and often demoralising for your team;

  • Loads of competition (everyone jumping on the same bandwagon).

Advocacy


Asking friends who already trust, respect and like you to help grow your business by recommending you to their family, friends and colleagues.


Advantages:

  • Low cost;

  • High conversion rate;

  • Morale building for you and your team.

Disadvantages:

  • You have to have the confidence to ask;

  • You must believe in what you do and the way you do it;

  • Requires focus, attention and action by team members;

  • You need a system;

  • You must be persistent, consistent and patient.

Attraction


Becoming the acknowledged expert in your field so that Google sends serious people to you to answer their questions about oral health improvement. a.k.a. inbound marketing


Advantages:

  • Very low cost;

  • When people approach you they are pre-qualified;

  • They are not looking for the best price so much as the best solution;

  • Empowering for you and your team.

Disadvantages:

  • It takes time and effort from you and your team to become the recognised experts;

  • You have to be able to write and to post across multiple channels;

  • You have (again) to be persistent and consistent over long periods of time.

(p.s. this blog is attraction - it started in September 2004 and I'm thousands of posts in)


(p.p.s. 80% my new clients come through advocacy - word of mouth - 20% of my new clients come through attraction - blog/newsletter/podcast/magazine articles/talks) - I don't do advertising because I don't need to - neither do you.


I coach my clients to grow their businesses through ADVOCACY & ATTRACTION.


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