Small Business Marketing: Developing a Strategy

Marketing is a crucial part of small business success. In order for any business to survive, other people need to know that the company exists and what they can do for them. It is even more important for small business owners to make a name for themselves. Developing a good small business marketing strategy is what you need to rise above competitors. Careful research, proper introduction and good follow up are crucial to building a strong customer base.

Research Your Market

Do you have a target market in mind? Get to know the customers you want. Find out what groups your products or services will attract the most. For a small business in the community, you can visit local events to network and let people know you are there. Bring business cards or something small to hand out to people that you meet.

Find companies and agencies that need your products or services in the area. Really research your target market for an accurate assessment of the things you may be able to offer. You can send out a short poll (no longer than 10 questions). It is a quick and easy way to find out what they need.

Examining the competition closely will help to find areas of neglect your company can fill in. For example, if you own a restaurant, what special dish can you make that the competition doesn’t offer? Figure out what special niche your company fills that others do not. Studies show that specialty companies do better than those who try to do it all.

Once you have this information, you can put it to good use.

Introduce Your Business

Start out with a simple brochure or flyer. Any piece of marketing should include these basic elements:
-who you are
-what you offer
-where you are located
-how to contact you

Appeal to prospects by emphasizing those unique specialties that only your business offers. Target their specific needs in your advertising. This is where all the research comes in handy. The thing to focus on is one or two particular needs they have that you can take care of for them.

You can send a uniform flyer or brochure, or you can customize each one to maximize the appeal to each business you send the information to. As long as you have the important key elements, the rest is flexible.

Make the most of the experience you have. Don’t make anything up, but if you have a track record, people will be more likely to pay for your products and services. (ex. Serving for 25 years and counting!) Let them know of similar clients that you have had and similar work that you have done. A long time in the business is something you should take confidence in.

Other things you might include in an advertisement are:
-grand opening/reopening date
-special sales
-top selling products
-number of clients to date
-company slogan

Follow Up

One of the most neglected aspects of marketing is follow up. It is always good to have new customers, but to truly be successful, you need at least some of those people to come again. There are some very simple things that you can do to inspire repeat business.

If you get phone calls or emails, respond to them. Give a call back or a reply message to thank them again for inquiring. This is especially important if the client has purchased your product or service. Reminding them that you are still in business and appreciate them as customers will encourage loyalty. Offering coupons, discounts or a free item (ex. pen with company logo) is also a way to thank clients and encourage them to come again.

If you follow these steps to an effective marketing plan, you will see your business take off. Once you find out what works for you, do it again and again.