10/ 30/ 2006
by Vicki Gerson
Marketing principles have been tested for decades; yet many small-business owners refuse to make a commitment to marketing. Here are some common marketing strategies to help you get the correct message to your targeted customers.
Have the right budget
In order to be successful at marketing, you need to attach a budget to your goals. Marketing costs money. If you plan to introduce a new product or service to your customers, it comes with a price tag. If you have lofty goals and a low budget, it's impossible to be successful. Therefore, carefully decide what you can spend on marketing, and how you will distribute those dollars to get the most bang for your buck.
Use the right tactics
Selecting the right marketing tactic or technique is important. If you own a small gift shop in the suburbs, for example, and know that your customers come from the surrounding area, putting your marketing dollars into billboard advertising or radio announcements is probably a waste. A better way to spend those marketing dollars would be to advertise in local community newspapers or use a repetitive direct-mail campaign targeting the community. Always spend your money in the area where your targeted customers live and work.
Send the right message
Be sure you send the right message to your customers. The purpose of the message shouldn't be to boost the morale of your staff or your salespeople. You want to send a message about what you can do for your customers. A community bank, for example, could send a personal message about providing old-fashioned service at a time when larger banks aren't personal and their staff changes so much that no one knows customers' business or personal needs.
Do the right research
Even though you have the opportunity to introduce a new product at your store, it pays to do the research. Find out how this product is selling in other locations. Is this the type of product your customers will purchase? If the product is upscale, but your customers spend only moderately, it may not be the right one for you.
Know what the customer wants
If you understand your customer, your product or service will be successful. If you owned a carpet cleaning business, for instance, you might know that many customers complain about rug cleaning companies that just send a crew and never clean right or get all of the spots out of the carpet. You might distinguish your business by keeping it small and being present at every job. This way you make sure that the carpet is clean, and the customer is satisfied. Customers like to work with business owners who take a personal interest in their job.
Be consistent
Anyone in business can tell you it takes time to impact a customer. A successful program is a consistent one. Winners realize that success can't be measured in just three or six months. One mailing or a small amount of telemarketing won't do the trick. Consistency is the key.
Grab the customer's attention
Think of the successful marketing slogans or phrases you've heard. Some of them have lasted for decades. Many small-business owners come up with a slogan or phrase that they drop too quickly. Before you select a few words to stick with, test market it on family, friends, other business owners you know and a few of your favorite customers. Once you have a phrase or slogan, use it everywhere.
Recognize results
Effective marketing will have an impact. It may take time, however, to see the results. The important factor is to recognize the results. If you are writing a quarterly newsletter, make sure that you indicate in at least one or two of the articles how your service or product can solve potential customers' problems.
When a new customer calls, find out what motivated them to do so. It's important to know why that customer "jumped" and made the call or set up the appointment. Recognize what the motivating factor was.
