Know The Difference Between Small and Big Business Marketing
One big difference between say kitchen table entrepreneurs and a big corporation is in the budget, or to be more to the point, their marketing budget. Unlike their wealthy competitors, the marketing budget of the small business owner is very limited.
This is the very reason why so many small business owners are hesitate to start a marketing campaign because they know all to well that creating marketing materials can take a huge chunk of their funds, and not to mention the creative team they will need to hire in order to help them sell their products.
Small business owners cannot really compete with larger corporations when it comes to securing the biggest print marketing in the industry such as billboards and full page magazine ads.
However, this doesn’t mean that as a small business owner you have to just accept your “short comings” and try to make do with what you have. Small businesses can certainly work around their lack of having big funds and still create an effective marketing campaign that combines strategies that will raise their profile and get them noticed.
As long as you do your homework and research your industry, you can reach your target market with marketing efforts that will reduce the dollars you shell out every time you have implement a marketing campaign, as well as ad value to your efforts when you’re able to connect more with your prospects.
The connections you develop with your marketing campaigns is more valuable and priceless as you can then utilize it to pin-point the most effective marketing strategies that your target audience will respond to over and over again.
I tell my clients this all the time. Even though you may be a small business with a very limited marketing budget, it certainly does not mean that you can’t compete with larger companies. I’ve seen it happen over and over, and I’ve experienced it myself. You can compete with them as long as you implement more creative and cost-effective ways of reaching your target audience.
Here are 5 ways you can effectively launch a marketing campaign without having to shell out every dollar you have:
1. Ask your vendors and associates if they will cross promote with you. You can also try asking other small businesses that reach your target market (not your competitors) to participate in a local or national marketing campaign with you and just share the expenses.
2. Keep your marketing message going. Spend some time sending your customers as well as prospects incentives to help encourage them to keep doing business with you.
3. Network with those in the media. Introduce yourself, your business and start building a relationship with them. Getting publicity for free is one of the best ways of getting higher visibility.
4. Start to position yourself as an expert in your field or industry. Post your knowledge on your business blog that can help your target audience, and slowly you can become known as an expert in your industry.
5. Attend business and product events. You can then introduce yourself to more potential buyers.
Lastly, when you do spend funds on your marketing campaigns, be sure to have a system in place to track you results. By doing this you’ll be better prepared to know which marketing strategies are working, and which no longer need your dollars or attention.
Here’s to your success!
Andrew W. Hobson is a freelance writer for Public Relations Depot, a PR Marketing company catering to small business. He has worked in the SEO, PR, Internet and Small Business Marketing industry since 1999. http://www.prdepotchicago.com/ For More Information
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