Small Business Marketing
Starting a small business is not simple
Starting a small business is not simple. After finding a suitable line that you are confident you have sufficient knowledge and interest in, you need to ensure that your investment will be successful.
After investing hard-earned money, the most natural expectation of a business owner is to generate income. It is no secret that the best way to make sure that a business flourishes is to encourage people to invest in your product or service. But for a small business which has very little, if not inexistent budget for advertising, how then, do you survive amid the hundreds of other businesses similar to yours?
The secret lies in marketing. Marketing is a tool used to gain the interest and attention of potential clients. It "teaches" people to feel a need or want for your product or service. Once you have a target audience that is so enthralled by the numerous benefits they will get by buying your product, there will undoubtedly be a profound effect on your sales.
The good news is, even with your limited budget for promotion, there are forms of marketing which do not create major dents in your pocket. With the advent of technology, reaching the most number of people is easy. There are new techniques online that may be implemented even by a single person - thus requiring very little budget for manpower.
Among these new marketing strategies are social media marketing and marketing communications. Social media marketing is the promotion of a product or service by way of online communication channels - like Facebook, Twitter, Linkedin and YouTube. Small businesses using these tools find that they are able to reach a surprising number of potential customers, because those who have read your online promotions can refer you to their other friends - and so the number of people who subconsciously "need" to patronize your small business multiplies. This type of marketing also reaches the farthest corners of the world. Where there is a computer, there is a potential client. Since social media platforms are informal and people are encouraged to interact with each other, a small business owner with a Facebook page, for example, is given the opportunity to relate to their fans/followers in a way they understand. Customers are able to be vocal about what they really need and want, and you may answer these needs - or at the very least, improve or tweak your product so that customers are happy.
When you are able to create that valuable relationship with your potential client, they develop loyalty to your business. They feel important and valuable as a customer.
Marketing communications is a more traditional type of marketing. It entails the use of communication materials like flyers, posters, electronic mail and promotion via public events (like bazaars, pocket shows, mini contests / raffle draws).
Needless to say, marketing communication requires more on your budget, but it is worth noting that most small businesses that are now very successful started out by using these techniques. The main advantage of using these materials is that future customers do have written material that they can keep, and refer back to - in case their need arises. Like, how often have you ordered, and re-ordered food for delivery by referring to a menu on a flyer? Especially in the food business, marketing communication materials prove to be very effective.
These techniques are tools to help every small business owner to make the most out of their capital. Ask every successful business owner how they managed to increase sales, and they will advise you to invest on the promotion of your product. You don't need to spend much. You just need to determine which strategy will work best for your product, your budget, and your desired market.
Whatever your small business is, it doesn't have to remain "small" forever. Remember that marketing aims to make every little business flourish. It takes patience, but the fruit of your efforts and investments will eventually multiply. If you want to be successful, plan carefully, implement wholeheartedly, work strategically - and dream big.
by: Michael Griffiths
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