Interested in starting your own entrepreneurial journey in marketing but unsure what to expect? Then read up on our interview with Toni Guffei, Marketing Strategist of Ratio Marketing Inc., located in Calgary, AB, Canada.
What's your business, and who are your customers?
I am a marketing strategist and owner of Ratio Marketing Inc. We work with growing companies in a range of industries in North America (and now expanding into global markets). My personal core expertise is research which is the basis of building a strategy and planning marketing initiatives to gain the best ROI (return on investment) for a company's budget. We've been operating since 2004 and have worked with hundreds of B2B companies in technology, education, non-profit, and oil and gas services - to mention the main industries, but we have also had clients in B2C (retail, hospitality, beauty products, and luxury garments).
Our clients are business owners who don't always know why their marketing efforts are not working. They are most often owners of businesses that make $500K to $800K in annual revenue and want to get over the $1M mark, OR they are larger businesses that need a Chief Marketing Officer or Marketing Director to audit their systems in place and recommend solutions to automate their marketing efforts. They know there is data that comes with platforms but may not know how to use it as evidence to make sound decisions about how to spend their marketing dollars, gain more customers and ultimately make more money.
Our role is to:
- Give objective insights about digital marketing processes by analyzing the client's technology stack and optimizing it for an omni-channel (seamless) system.
- Solve internal blind spots and give expert guidance to owners to get a better understanding of what's working vs. what's not working.
- Look for effective ways to grow, expand and scale a business using proven digital marketing strategies gained from our years of experience in the advertising, media, and communications industry.
I also wrote a book in 2020, which has since been published by U.S.-based Kendall Hunt, entitled Digital Marketing Strategies. It provides tools and an overview of how to integrate a digital marketing approach for any type of business.
Tell us about yourself
My undergrad degree is in Economics - which I say is the basis of the business side of marketing because it is about supply and demand and what motivates consumers. After getting my first degree, I landed a job at Vancouver airport overseeing the data results that itemized the costs of not having an additional runway (at the time, they only had two main runways). From there, I moved into the role of marketing for 13 regional airports. That's when I started investing more in learning about marketing and ended up getting an MBA.
After my second degree, I wanted to invest in my own potential and knowledge from the eight years in transportation and the learning from my Masters in business. I put up my shingle and waited. I didn't make a lot of money those first few years because I had to learn how to have confidence in myself. It took about ten years to gain that confidence. And now, I work solely on my business and teach part-time at the University of Calgary. I enjoy helping owners see how they can get more from their marketing investment. And I really enjoy teaching others some of the tips and tricks I've learned along the way.
What's your biggest accomplishment as a business owner?
I have had the opportunity to work with hundreds of companies throughout North America from a range of industries over the years. The greatest accomplishment I've had is helping businesses grow their revenue. In one case, this was from funds gained from Venture Capitalists for expanding one business into the U.S. market. Another was gaining more international business from online digital marketing campaigns. Our clients trust we can get them results, and when those results exceed expectations which happens on a regular, I feel an incredible sense of purpose in doing what's best for the client.
Other successes have come from mentoring up-and-coming marketing professionals. I've taken on students in different capacities and nurtured them on how to build strategies that work. Often that means they do research on projects, and other times, they contribute their objective view of the world (from a younger demographic) that adds great value to my clients.
What's one of the hardest things that comes with being a business owner?
The hardest thing about being a business owner is the whole finder, minder, grinder approach. You have to have a handle on all aspects, from finding the business to minding the business and doing the work within the business. My favorite part is overseeing the business, and over the years, I've learned to delegate the finding and grinding aspects of the business in order to grow and reach my own personal potential. The other aspect that is challenging in outsourcing is getting the right people who align with my own approach and values. But, I have been fortunate in the fact that I know how to bring on the right people at the right time.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Do research to find out who wants your offering and what they are willing to pay. There's no point in doing something that doesn't sell.
- Start small and scale as you generate revenue. It's important to set business goals and assess the data to see where you're generating revenue. Focus more on what is giving you the return and less on what is not.
- Believe in yourself. Starting a business takes dedication and the courage to know you can do it. You just have to figure out how to make it work.
Where can people find you and your business?
Website: https://ratiomarketing.ca/
Facebook: https://www.facebook.com/RatioMarketingandReports
Twitter: https://twitter.com/tonironi
LinkedIn: https://www.linkedin.com/in/toniguffei
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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