Marketing a Small Business
Date: 06/19/2013 Written by: Launchmark
Last Updated on 11/22/2023 by Launchmark Insights
Last Updated on November 22, 2023 by Launchmark Insights
Small businesses may have fewer resources, a tighter budget and less of a staff than the corporate giants that dominate their prospective industry. But small business and large businesses have some crucial things in common – finding customers, identifying their customer’s needs and fulfilling promises. Marketing a small business needs to allow your organization to increase your customer base, convince customers to buy more items and more expensive services that yield a bigger profit.
Hit Your Target Market
Target marketing is vital in creating sales because it forces a small business to learn their ideal customer inside and out, and adapt their marketing strategies to cater to these very specific individuals. Why waste time, and the money that wasted time ends up costing by chasing after customers outside of your particular niche? Go where you are needed and never let those people down.
Stretching a Limited Budget
Small business marketing needs to make up for what they lack in financial strength and up the ante with brilliant cost effect solutions. If you have vendors or business associates that you commonly do business with, find out if they would be interested in sharing a marketing campaign that promotes both companies. If you can help someone else make money than you can cut marketing costs drastically. Seek out free publicity by approaching the media directly with news worthy press pitches. Try building a company presence with non-profit organizations and community groups by helping them get their name out.