One of the greatest challenges that every small business owner faces is obtaining a consistent and steady stream of new customers. The ability for a small business to connect is paramount. A small business will typically have the ability to service the area in which it resides. One might consider running a bill board or ads on the local newspaper. Additional signage, modifications to storefront or other expensive means of exploitation. Most large companies participate in every form of advertising available. Inbound marketing is most definitely taking control of marketing regions more and more every day. The greatest struggle a small business owner faces is planting the seed that eventually grows into a steady and dependable customer or client. Fortunately, making that connection is far easier and more affordable that one might realize.
Every single business owner in the world has concerned themselves with marketing at some point in time. The moment a brand new business develops a website, orders business cards or even places an ad in a local newspaper; they have begun a marketing strategy. Marketing occurs every time a business owner flips the open sign on in their front window. The hot donuts sign in the window is another display of marketing. The radio ad, T.V. commercial, internet ad and coupons provided are all forms of marketing. The term marketing is defined as the action or business of promoting and selling products or services, including market research and advertising. Every single business owner in history has implemented marketing. The level of marketing is the only variable.
Burning Dollars Makes No Sense
Once upon a time, there was a small pizza shop along a major route through the center of town. The pizza shop owner, filled with excitement and joy, tackled entrepreneurship with vigor. He had purchased the pizza shop from the previous owners. So the restaurant was well established. However, this gentleman had ambitions of growth and greater success than his predecessors. He patiently waited for that coveted billboard to open across the highway. He placed an enormous ad on that billboard with new company logo, location and hours. Meanwhile, he continued to place ads in local papers, hang signage and spread the word throughout the community. He attacked almost ever single line of advertisement he could and it paid off. in year 3 the gentleman did twice as much business as the previous owners. Business was great, though his bottom line looked surprisingly similar to his first year. The pizza shop owner was experiencing the law of diminishing return. He was doing the all the right things but in all the wrong ways. All forms of marketing are great. However, when there is a limited budget, marketing to fresh eyes and brand new potential customers is smart play. Marketing a business location to a customer base that already knows your location is like burning money. Burning dollars makes no sense. The correct approach is to market your business to an audience that doesn’t even know your there. Market your specials to new potential customers. If you want new business you have to obtain new customers. Use your marketing dollars wisely and they will multiply. In conclusion, it’s just where you advertise, it’s who you advertise to. It’s not just what you advertise, it’s how you advertise it. It’s not just when you advertise, it’s who sees or hears it. Most importantly, it’s not the quantity of advertisement, it’s the quality of advertisement.
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