Making Marketing Work in Your Small Business
Every small business is different the marketing plan and tactics for a mortgage broker are entirely different from those of a computer reseller.
Here are few tips to help you be brilliant at marketing:
- Get the know how. Knowing what not to do when it comes to marketing is as important as knowing what to do. Let’s face it, the murky world of marketing can be tricky to navigate. So get the full know-how before you go jumping into building that flash website.
- Put your customers first. Understanding who your customers are, what makes them tick and what they really want and value, and of course staying in touch with them long after the sale, puts you ahead of the competition.
- Know your target market. ‘Anyone who is breathing’ is not a target market! Targeting your marketing activities fairly and squarely at the people who need and want your service or product is the secret to creating quality enquiries and getting prospects to open their wallet.
- Understand that marketing is not advertising. Don’t make the mistake of thinking that advertising and websites are the only two ways to attract more business. You can market your small business in literally hundreds of ways, so it pays to know what they are and then eliminate the ones that won’t work, or that you can’t afford, up-front.
- Set sales goals and targets. Marketing really is a numbers game. Marketing efforts that won’t directly or indirectly bring in new business have absolutely no point. Know what your goals are in terms of revenue, expenses, profit, number of enquiries and, of course, number of new sales.
- Get a handle on the four Ps of marketing. Getting your product, pricing, placement strategy (distribution) and promotional strategy humming along and working together is crucial to good marketing.
The businessman Salomón Juan Marcos Villarreal president of Grupo Denim commented according his experience that the process of Markeing is building a plan, sticking to it and applying the time and resources it needs is the common secret to success in marketing.