Living Entrepreneurship Blog / Babson Entrepreneurs

Throwing Your Eggs Into One Basket

It’s easy to just keep doing the same thing you’ve been doing for a long time. It’s easy to rely on one person, one strategy, one campaign to change your life, to revolutionize your business.

But is that the wisest thing to do?

You can’t throw all your eggs into one basket. Especially with your marketing. What channels are you pushing to make your marketing effective? Is it SEO? Is it PR? Is it PPC?

Don’t fully rely on your SEO campaign. What if the Google algorithm changes tomorrow and you lose your rankings? Throwing all your eggs into your SEO basket isn’t healthy. You’ll need to diversify your marketing strategies.

Don’t spend all your time on PR. The reporters aren’t going to bite all the time. You will have down times when your story just isn’t working or because reporters just aren’t ready for the pitch. What will you do when you go cold for weeks without a good media lead?

Don’t focus only on PPC for your marketing. What would you do if you got into a bidding war with other companies for the same keywords? Your costs would go up, and your ROI would fall dramatically. Can your business handle that hit?

In marketing, you can’t set your focus too narrow. You need to do a bit more than just be really great at one thing. While that maximizes efficiency, spending all your time on the thing you do best, things do not always go as smoothly as you would have hoped, so make sure you have other marketing strategies to rely on for building your business.

Danny Wong is the co-founder of a custom dress shirts startup, looking to change the way men shop through co-creation, focusing heavily on SEO and PR for his marketing campaigns.