11
Dec

When it comes to small business marketing you need to understand a few tips to succeed. The most important thing you need to know about marketing is that you need to establish a certain budget, doing this will make sure you don’t spend too much on marketing. Remember these small business marketing tips to succeed and always stick to them.

Don’t overspend

The problem with many newer small businesses is they are eager to make money quickly so they overspend their marketing budget which leads them to having to force sales in order to get their money back. When it comes to marketing it is very easy to overspend but the trick to staying on budget is to create a plan and slowly increase your budget over time. If you don’t increase your budget over time you will have a hard time getting your small business to grown.

Create a marketing plan

Creating a marketing plan is something that many people forget to do. The one plan that people do create is a business plan, but they normally do it for the wrong reasons such as getting financing. Think of a marketing plan as your strategy to move forward, without one you will be lost. Creating a marketing plan doesn’t have to be tough, you just need to understand what goes in one. The most important things to go inside a marketing plan are target market, competition and competitions marketing strategies, potential markets to explore, and an 8 week marketing strategy. The reason you want an 8 week marketing strategy is because small businesses will most likely fail with the first 8 weeks upon starting and if not then you know you have something special.

Use free methods

What many small businesses do is spend a bunch of money on marketing right off the bat, but what they need to do is use free methods along with paid methods. Using free methods along with paid methods is great because you can cover more ground and get your small business in front of more people. The one thing you need to understand about using both methods is that free methods will reach different people that paid methods will and vice versa.

If you can follow these 3 small business marketing tips then your business should be well on its way to becoming a profitable one. Always remember to track how well a certain marketing strategy is working because if all other strategies aren’t working then you can save money using just one. If you need more ideas to make money with your strategy then check out dormroomcash.com.
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25
Aug

Small businesses are closing at an overwhelming rate due to the economic climate. Often the fine line between survival and closing is reliant on the amount of marketing of the business is actually done. Unfortunately, when faced with a choice of where to cut in the budget, the marketing is usually the first to go. This should not happen – and smart businesses know this, and put their marketing budget toward a more cost effective and targeted channel – online marketing.

A Changing Landscape

In November, 2010, Ad-ology Research conducted a survey of over 750 small businesses to see where their marketing budget would be spent in 2011. The results showed that more small businesses will be putting their budgets toward e-mail (72.7% in 2011 vs. 56.6% in 2010) and website development (70.5% in 2011 vs. 57.7% in 2010).

What this shows us is that online marketing is becoming the way companies promote their goods and services. Traditional forms of marketing are not going away – there will still be direct mail pieces sent, flyers printed, telephone directories used, and billboards utilized, but overwhelmingly there is going to be great growth in the online marketplace.

Benefits of Online Marketing

Why would a company want to market online? First, there is a greater reach to consumers, and more opportunity for growth. According to Google, over 85% of consumers are going online first when looking for products and services – totaling over 16 billion search queries a month. Secondly, of the over 20 million registered businesses in the U.S., only about 5-10% have any type of online presence, and only a small percentage of those are doing anything to market their company online.

Online marketing is not just limited to having a website, and marketing that, or an email campaign to prospects and clients. There is also a great push toward the utilization of social media. For businesses that are following a business to consumer model, social media sites such as Facebook and Twitter are an excellent source to get new business as well as connect with your current clients. Social media sites gather personal consumer information at sign up that businesses can use to target their ads. These ads cost a fraction of what it does on a major search engine. Also, social media sites allow a quick update to your “followers”. Posting relevant, timely information can establish a company as an expert in their field, and who doesn’t want to be known as an expert in their own field?

With such a large untapped marketing space, there is great opportunity to grow. No longer do small businesses have to focus on their own backyard for customers – their reach is only as limited as they want it to be. With the right marketing strategy, their small business can change from a struggling shop to a profitable entity quickly.

Analyzing costs

As with all comparisons, it turns into a question of numbers and dollars. Small businesses using a traditional form of marketing can spend over $10,000 on a direct mail campaign, see less than 1% response, and then a smaller closing rate, and consider the campaign a success. If they took that same $10,000 and invested it in online marketing they could see a much higher exposure, greater contact rate, and much better closing rates because they would be targeting to the consumer who is specifically looking for their goods and services. For example, one of the companies I have worked with wanted exposure for his website. In one month, and for under $1,000, his web traffic increased over 20,000%. Another client I worked with saw a 500% increase in web traffic when he started utilizing an email campaign.

Online marketing is a powerful tool, allowing small businesses to compete with, and beat their competition. Those who take advantage of the opportunities have a greater chance of success over those who continue to use more traditional forms of marketing. As the landscape evolves, and new opportunities arise, what is your small business going to do to succeed?
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26
Jun

Effective small business marketing is the lifeblood of any small business. An unsettling high percentage of small businesses fold within the first year of operation with most of the first year survivors closing shop by the end of the third year.

One of the major reasons that small businesses fail is a cash flow crisis. Effective small business marketing is one of the few business tools available to a small business owner that GENERATES cash.

Effective small business marketing starts with being able to write a simple and practical marketing plan, specifically for your business. This marketing plan then forms the basis of all your marketing efforts and acts as a reference point when you have to decide between two or more courses of action.

The result of following a well constructed marketing plan is that all your different marketing efforts form part of a co-ordinated strategy aimed at attaining your predetermined goal. That is in stark contrast to the marketing efforts of most small businesses and immediately puts you ahead of the pack.

Effective small business marketing naturally comes with some challenges – and advantages. Challenges might include a lack of marketing savvy, a limited marketing budget, time constraints especially if you are a one person business and so on. Anyone who has run a small business should recognise the danger of spending too much time working in the business rather than on the business.

There are many advantages however in marketing a small business as opposed to a corporate giant. These include a lack of a hierarchy of decision makers, no red tape to fight through to get anything done, direct contact with your target market and many more.

Effective small business marketing should and can be the cornerstone of every small business. Your simple yet effective marketing plan is the map that will guide you out of the woods towards a profitable business, irrespective of the market segment you operate in.

By: Le Doc

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