Chapter 8 - Marketing Strategies For Small Businesses
Marketing Strategies In A nutshell
Having A Marketing strategy Important to Your Business
 What is marketing? More importantly, why is it important to you as a business owner to have a marketing Strategy?
In the simplest of terms, marketing is everything you do to get your business noticed by your customers and gets your customers buying your product or using your service.
Without good marketing, a business is not likely to get off the ground.
Marketing in a Nutshell
Marketing is a very broad topic and covers a wide variety of activities. Some of these activities include:
- Sales
- Public relations
- Pricing
- Packaging
- Distribution
Business is about persuading your customers to part with their money for your product.
Marketing is finding the right people to persuade. It is your strategy to get a profit from your business. It is a plan that determines where you will spend time and money to get that profit.
Your Marketing Strategy
A marketing strategy must be based on your customer.
Understanding about blogs or websites or press releases won't do you any good at all if they are not aimed at your customer OR your customer will not respond to those techniques.
If all you have is marketing knowledge with no customer connection, you just have marketing theory.
To be successful, you have to put that theory into practice.
Many business owners are under the mistaken impression that a marketing strategy is about the product itself. But that is not the case. Let's look at an example.
You have a widget for sale. It is the latest style and has the most up-to-date features. Not only that, but it comes in 4 wonderful colors.
 And you plan to advertise your widget by listing these features along with a photo. The likelihood is that the widget will not sell because you didn't think about the customer.
The customer wants to know how the product will help them.
That want to know, "What's In It For Me?"
Instead of listing the features, take each feature and let your customer know how it will benefit them.
Will it make their life easier?
Will it save time? Energy?
Make them happier?
Wealthier?
Healthier?
Once you put the customer in the mix, you truly have a marketing strategy.
Your Marketing Plan
Without a marketing plan, you are going to spend your time and money haphazardly.
You may do too much or too little and you are certain to spend your time and money on marketing ideas that will not work for your customers.
A Good Marketing Plan Helps You:
- Focus your time
- Focus your energy
- Determine what works through market research
Understanding what has worked in the past in your area of expertise will be a good place to start with your plan.
Do not be afraid to broaden your ideas beyond that of the known, but starting with what is known to work is always a good idea.
Before you spend all your capital in a new business, you need to become a smart marketer.
Take the time to learn who your potential customers are and then how to effectively reach them with your message.
What's Next
Next In This Guide
 Business Websites Do Wonders For Small Businesses - You may think that since your business is new and small that this is something you can put off for now. The truth is, having a website will be one of the best marketing tools you have. Even My Small Business?
Previous In This guide
 What You Need to Know About Unemployment Insurance - In addition to helping workers and their families, the Unemployment Insurance programs play a key role in helping businesses, communities, and the nation's economy.
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 How To Start A Small Business Everything You Ever Wanted To Know About Starting a Business But Were Afraid To Ask - Table of Contents
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