How to understand marketing for small business…
If small business owners knew how to market their businesses properly, they would be able to grow their business profitably over an extended period of time.
For many small businesses, marketing is an afterthought, or not a thought at all, because they are too busy surviving every week and month.
There are a few simple things that every small business can do to market their business, and they need not cost the earth. It does not matter what type of business you are in, retail, manufacturing, professional services etc.
Here are just a few guidelines:
Team Communication – Make sure that you and your team are clear about what your business does, whom it serves and why someone should deal with you over your competitor. You see, your team are the people that meet your clients and prospective clients the most – they need to be an extension of you. You need to meet them often and ensure that your business story is consistent.
Marketing Plan – Decide what marketing activities need to be done to get you started i.e launch, PR, Newspaper Editorial, Outside Broadcast from a radio station, etc. After that you need to decide what marketing you can do each and every week. This may be direct marketing, social media, telemarketing, advertising etc. And this is where most businesses fail. After their initial burst, they do little or no marketing and rely solely on word of mouth.
Delegate tasks – there will be people on your team who are better equipped to carry out certain marketing activities than you. Systematize the marketing so that anyone can do it and that it can be done as part of someones work week. Too often marketing is an afterthought – it needs to be brought more to the fore….
Measure your marketing… By measuring the effectiveness of your marketing, you can develop an unlimited marketing budget. Keep doing whats working, change or stop doing whats not working – sounds easy, it is, but its also easy not to do it and its even easier not to do any marketing at all. – This is the choice made by too many.
Measured marketing allows growth, unmeasured marketing increases your costs.
Keep the offering simple – once again, make it easy for people to buy from you. Ensure that they know what they have to do to purchase your product and make sure that they know why they are purchasing from you.
If your business could use some increased profits, reducing your costs will work to a point, but effective marketing will deliver every time. be prepared to invest the time and become a student of marketing.