Small Business Marketing
Philip Nulman is President of FDN&P Advertising, a full service advertising and marketing firm, and author of Start-Up Marketing. He is a member of The Small Business Advocate Brain Trust, and joins me on the show to help us understand the marketing function in our small businesses.Phil agrees with me when I say that most small business owners have difficulty defining marketing, which often manifests in poor marketing results.
Phil says that marketing is the umbrella under which all of the other issues of communications fall. He adds that marketing is the system by which you introduce your products and services to the market, including advertising, promotions (cups, caps, etc.), merchandising, and public relations.
The challenge for small businesses is in getting our message out with what is typically a limited budget. Here are three money-saving marketing success tips:
1. Focus. Your marketing efforts must focus on the segment of the market that is likely to do business with you. If what you sell is typically used by people over 40, don't buy radio or TV time without making sure that your spots are going to be aired when that demographic is listening and watching. The opposite of this, called "shotgun marketing", is one of the biggest marketing mistakes made by small business owners.
2. Be creative. Big companies can throw money at a marketing campaign and fine tune later. As a small business owner you have to squeeze 6 cents out of every nickel of your marketing budget. How do you accomplish this? Creativity. Look for the free publicity opportunities. Announce an employee promotion or addition in the section your local media sets aside for such things. Send the newspaper a press release about a new training certification one of your employees received recently. .....(You're idea here)..... .
3. Vision. Phil says that your marketing vision should not include you. That's right, take the "me" out of your marketing vision and focus on your customers. It's not what you have to sell your customers that's important, but rather what your products and services will do for them. I know, you have things that you are proud of: the newest colors, highest quality, new location, etc. So what?! Your competitors have those, too. You must emphasize the BENEFITS your customers will get from doing business with you, and THAT is the marketing story you take to the marketplace. Here's an example that focuses on you: "We have moved into our new building. Come to see us." Here it is focused on the benefit to the customer: "Our new location is more convenient and will save you time."
Write this on a rock... To be successful in business, you must market successfully! If your marketing budget is small, use brain power and creativity to leverage your marketing resources.
