Money Matters, Simplified.
7 Marketing Tips for Small Business
In today’s rocky economy, a small business can market its products better than corporate giants. Here's how to market well.
Sat, 12/05/2009 - 13:15 by Ishita Sood
A live message over the phone is better than a recorded computerized message Marketing for small businesses has to be accompanied by effective advertising and promotion. With proper promotion of the business having created awareness in the market, potential customers can then be effectively targeted for marketing drives.
3 Ways to Promote Your Website
1. Social Networking Sites: Social networking sites like Facebook, Twitter, and MySpace can be used to promote the business’s website. These sites also offer heaps of networking opportunities and access to groups that can be good sources of contacts.
2. Banner Advertisement: Creating an alluring banner which is attractive and appealing can increase traffic to your site and bring business. Manually search for websites for a banner exchange and link exchange.
3. Word of Mouth: The easiest way to promote business’s website is via word of mouth. This is a very basic and old way of marketing. One has to just tell his family, friends, and co-workers about the new website. Business cards can come in handy too.
The following points can shed light on how to market your business’s products well:
1. Promote Business through Newsletters, Emails
Small business houses should promote their businesses taking into account the specified target market. Always look for unconventional marketing methods while promotion and be innovative and original.
Printing ads on postcards and newsletters is a suitable way to target customers. People read messages which are short and to the point. Enclosing brochure, ads and flyers is also helpful for promotion.
Small ads can drive high volumes of traffic and sales, and the cost of promotion is minimal.
Another good source of advertising business is through e-mail. E-mails can be sent to people who subscribe to the business’ site, adding a personal touch.
2. Rotate Marketing Tactics
No single marketing effort works all the time for every business, so one must keep rotating several marketing tactics.
Customers should not feel bored with your marketing efforts at any time. So keep trying new ideas; for example, if your customer purchased a bag from your leather shop, send him a handwritten note thanking him for patronizing your business. Also enclose a message saying “take advantage of this private offer, 15 percent discount on next purchase.” If there is a deadline for discounts, this will create urgency among your customer base.
Taking feedback from customers from time to time is also needed.
3. Target Existing Customers
It's easier to get business from your existing customers than from someone who has never bought from you at all. One should create special deals for existing customers like an incentive scheme.
Using stickers and handwritten notes is an effective way to reach to them, provided the message is short and crisp as discussed before.
4. Answer Phone Differently and Offer Special Deals on Phone
A live message over the phone is better than a recorded computerized message. It’s different for the caller, too, and focuses more on the individual's choices. For example, one can say, "Good morning, this is Kate Watson with Buyers Den; ask me about my special marketing offer." Customers’ phone calls can be used to rope them in for better deals that are worthwhile to both of you.
One should make sure the offer is aggressive, and increases the caller's curiosity. The caller should feel like asking more about the offer.
5. Seminars or Event Organizing
Businesses can attract many customers by hosting an event. It is a great way to gain prospective customers as well as keep the company’s name circulating. Media coverage is also possible, in case the scale of event is big.
6. Offer Goods at Appropriate Prices
Some customers are not willing to pay the asking price for a product or service, and are interested in marked-down products. There are also some who do not look for quality in a product. These customers can be offered a smaller version of the product at a lower price.
There are also others who are ready to pay a higher price for a premium product or service. This is a great opportunity to induce sales and revenue.
7. Optimize Marketing Campaigns
Spending a lot of money on marketing campaigns blindly will not promote products. Business must learn how to support their own campaign by using appropriate strategies.
For e.g. If there is small bakery shop offering $10 extra on purchase of $100 of pastries one must advertise it. Posting on the business’ website, putting signs in front of the shop, advertising on twitter, and through newsletters can help in making the small campaign work better.
