How To Create A Small Business Marketing Strategy That Will Triple Your Profits This Year

What does a small business marketing strategy mean to you? Some people automatically think in terms of their company’s long-term goals. When they start their small business, they create a long-term business plan, including a marketing strategy, that will help them develop their company over time. Others think of a small business marketing strategy as a single campaign. They create a marketing campaign for one product or service they offer, and create a series of marketing tools that will help them sell that product or service.

While both may technically be correct, there is a distinct difference between the two. One creates a stream of income for a short period of time (typically a few weeks to a few months), while the other ensures you have a stream of income coming in on a regular basis.

In order to ensure an effective small business marketing strategy, you must have three things in place.

1. Multiple marketing tools in place. Every day a person is marketed to 60-100 times. You see banners on the sides of busses, advertisements in newspapers and magazines, and coupons in your mailbox. It’s easy to see why marketing tends to become almost non-existent in our minds.

But the thing that a good marketer realizes is that he has to use different marketing tools to reach different target audiences. Everyone has a different attention span. Everyone is searching for different products and services at different times. A good small business marketing strategy has multiple tools in place to capture a prospects attention when he or she is ready for our product or service.

The key is to knowing who your ideal clients are. The more you know about them, the more you’ll be able to reach them in a manner that’s best for them. Good marketing tools are:

* direct mail postcards

* direct mail letters

* advertisements in magazines

* advertisements in newspapers

* neighborhood postcard packs

* door hangers

* flyers

* brochures

* promotional products

* tradeshows

* billboards

* bus stops

* school buses

* regional transportation systems

* sponsorship of school athletics

* and much more

An ideal small business marketing strategy will encompass many of these types of tools, and have campaigns set up using select tools at different times throughout the year.

2. Use those marketing tools over long periods of time. Once you have your marketing tools in place, continue to use them again and again. Probably the biggest mistake a small business owner makes is to grow tired of his own marketing campaign, and abandoning it before it’s realized its full potential.

The average campaign takes a person 8 – 12 times of viewing the same material to recognize the information and take action. If you quit running a campaign before you reach the 8 – 12 times average, you won’t achieve your desired results.

An ideal small business marketing strategy will provide goals to seek out longevity in marketing campaigns. While nuances of a campaign can change (i.e. changing ad advertisement to showcase seasonal products) the structure of the campaign should always remain the same.

3. Use those marketing tools in many different places. Your prospects come from a variety of different sources, and have a variety of different interests. Mailing your brochure out to prospects is a great way of marketing; but you may also do well by placing your brochure in offices of complimentary businesses. Advertisements may work well in your local newspaper; but they may do just as well in an industry trade publication. Direct mail postcards may inspire a lot of people to pick up the phone and call you; but it may motivate more people to visit your website.

Creating a handful of tools to use in your campaigns provides you with the resources. Getting those tools into the hands of your prospects is what requires a plan.

An ideal small business marketing strategy will be a long-term plan that involves creating marketing tools, putting them into the appropriate places, and leaving them in place long enough to let them work.

Copyright 2006 Vision Business Concepts Inc

Small Business Marketing FAQs

What is a small business? The government has introduced certain criteria including the number of employees, annual receipts, affiliates and other applicable factors to identify a small business. It can be quickly determined by using SBA’s NAICS (North American Industry Classification System) Lookup. Enter the business description; NAICS will locate the business type in the resulting table.

What is marketing? Marketing refers to the commercial processes involved in promoting, selling and distributing a product or service.

What does marketing involve? Marketing is an organizing tool. The four basic aspects of marketing include the four Ps such as product, price, promote and provide. It involves market research, formulating strategy and selling based on two important principles. The first principle states that all company policies and activities should be directed toward satisfying customer needs. The second is that profitable sales volume is more important than maximum sales volume.

What is marketing strategy? Marketing strategy is the summary of the marketing goals. It is the formulation of the methods used to achieve the marketing objective.

What are the major constraints for small business marketing? The major constraints for small business marketing include budget limitations, lack of adequate resources and tough competition.

What are the important collateral marketing materials? Collateral marketing materials consist of printed marketing materials. They include brochures, business cards and news letters.

What is the importance of advertising in small business marketing? Advertising plays an important role in small business marketing. It helps to influence people with attractive marketing materials such as banners, sign boards, magazine and directory ads as well as trade booth displays.

The Importance of Online Communities For Business

“Strive not to be a success, but rather to be of value.” Albert Einstein. When it comes to sharing business content with your online communities, offering information to others that is of value will ultimately make your business successful.

There are many reasons why being a part of online communities contributes greatly to the success of your business.

  • Universal exposure: As part of an online community, you are able to reach people around the world and it is as though you are all in a room together, interacting on issues that are important and interesting to all of you. It is incredible that you are now capable (through social media) of reaching numerous people at once from one location. This allows you not only to market your business easily and successfully but also lets you do a large number of other things connected with your business. Remember that connecting with your online communities does not mean that you should be giving those people a hard sell. You should be sharing valuable information with them. You are educating the other people in your online communities about what you do and what you offer. You are allowing them to get to know you and your business.
  • Learning from others: As a member of an online community, you have the opportunity to learn new ways to market your business from other marketers. You should take advantage as much as possible of the expertise of other people who are members of your online communities and put their principles into practice, where appropriate.
  • Strategic partnerships: You will have many opportunities to form strategic partnerships with other members of your online communities. There will be a lot of synergies between you and others and if you find that your skills and expertise compliment those of people in your online communities, you should approach them and see how you can work together most effectively. Of course, you cannot form business partnerships with people unless you get to know them and they get to know you. Nobody will partner with another person unless they trust them and find them to be credible.
  • Make the most of your online communities: Remember that you need to market yourself and your business through your online communities. Make sure that your online profile is complete, which means that you need to include more details about yourself than your business. You should include a statement about your business but a more comprehensive discussion about your business offerings will occur after you have posted and syndicated your content.
  • Choose your online communities wisely: It is important to choose your online communities based on the members with whom you want to interact. It is not enough to choose an online community based solely on a demographic, ie, a geographic location or an age group. You should be very selective about your communities and make sure that the other members in your online communities have enough in common with you and your business and are really excited about interacting with you online.
  • Build your online relationships: It is very important to continue to develop relationships with those people with whom you interact online. A good way to do this is by continually sharing information with them that you feel they will find valuable and that will help them in some way. Not only will your online connections want to interact with you but they will also speak favorably about you to others online. The more comfortable and the closer your relationships with them become, the more opportunities you will eventually have of selling them your products and/or services. Make sure that you make the effort to not only establish the relationships but also make sure that you maintain them for the long term.

Conclusion

Being a member of online communities for business and continually establishing and maintaining online relationships is critical to the success of your business. With the extreme popularity of social media, many people are excited about interacting and developing relationships with others whom they feel they can trust and who they consider experts in their industry. At the heart of your success is the human element. Once people really get to know you and you get to know them, they will want what you are offering and will gladly tell others about what you are offering too.

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