Nerve-Wracking First Decisions of Small Business Marketing
You’ve started a business. Congratulations! Now what?....
You’re an expert in what you do and you’ve made that decision to start your own business. You are ready to make some big decisions, but not confident in what those decision need to be. To market your business you need a plan to attract customers and to keep them coming back. You need a marketing strategy so to secure a greater share of the market. You need to watch your budget, but make sure that marketing is a line item on that budget, and not considered an expense.
Every small business is different. The marketing plan and tactics for one are entirely different from those of another. However, the process of building a plan, sticking to it and applying the time and resources it needs is the common path to success in marketing.
At its base, there are some decisions that are universal:
Make sure you have a good understanding of things, or have hired someone with that good understanding before making any big decisions. You need to know what type of website or financial software you need before making those big ticket purchases.
Understand who your customers are and what they really want. Implementing a program to remain in contact with them after the sale will bring you value and dedication in the long run.
You need to know exactly who your target market is. It’s the secret to creating quality prospects and getting them to open their wallet.
Know the difference between marketing and advertising. Advertising in one piece of a marketing mix. You can market your small business in literally hundreds of ways, with varying costs from free to possibly too expensive for a new business starting up.
Know what your goals are in terms of revenue, expenses, profit, number of prospects and, of course, number of new sales.
Know your 4 P’s. Getting your product, pricing, placement and promotional strategy working together is crucial to good marketing.
This is just the first step, but an important one on the correct path to marketing your business correctly.