Thu 21 Jun 2007
Small Business Marketing Tips
It is hard to start and run a small business successfully — I should know! It is also hard to market the products and services of a small business, as there are big companies providing the same products and services under a large, well known brand name.
Because owning a small business comes with its own marketing challenges, not the least of which is competing with the big boys, I've come up with 2 key areas to concentrate on:
The most common mistake most small business owners make is that they try to market themselves like big businesses. If you are a small business owner, you need to find out the cheapest and most affective way to market your products and services.
TV ads may be effective, but is also expensive — so you need to find a better way. Try giving away free samples to promote your products. Issue discount coupons, have a contest or offer a 2 for 1 deal.
There are some customers who would prefer to purchase products at a cheaper cost, while there are some who would prefer good quality and are not worried about the price. That said, it is essential to know the mindset of your targeted customers.
For example, if your product is targeted to middle class customers, then the price of the product should be lower. However, if the targeted customers are affluent, then you should consider providing good product quality, regardless of the price. You can also sell your products in packaging that will make the price reasonable and provide good enough quality.
Remember that it is easier to maintain current, loyal customers than to get new ones. Provide good after-sales service and guarantee your products.