Small Business and Marketing - What are you to do?
What is a small/emerging business to do? During these poor economic times small/emerging businesses have it the worst; struggling to stay afloat or just establishing a business presence can be the worst. With economic times being as bad as they are businesses and consumers alike tend to take more of a reactive approach rather than proactive. Sometimes we rush to snap decisions due to a need to stay afloat. During an economic crisis, everyone is worried about money – especially if they are a small or emerging business.
One of the quickest decisions a business tends to take, will be to cut the marketing budget or eliminate it all together. And most new emerging business seem to think that marketing should not play a big part in their budget because they have other necessities that seem far more important. DO NOT cut or eliminate your marketing no matter what. Leave this to your competitors to do. Instead, look at alternative ways or implement other plans that give way to even better marketing strategies, through things such as email marketing or a simple website redesign or creation. Though increasing your marketing budget is a great way to gain on your competitor, the reality is that it’s not always possible to do so. However, be sure to maintain some type of presence in the marketing.
BE PROACTIVE ... wondering HOW?
1) Use the Internet to market and sell – most people with computers go there first to research products and check our sellers. Your business needs to be there are you will be left behind!
2) Conduct a simple email campaign – Email marketing is a minor cost when done on a small scale but it has a massive impact. How many times have you forwarded an email? Email them with rich, life enhancing information that helps them, not you.
3) Visit or call your customers – Now is the time when customers want to hear from you, preferably to see if you can provide a solution to help them and make their lives better. Leave a simple business card, flyer, etc.
4) Position your company – You need to know what your competition is doing. Are there holes in their offers that you can exploit? What are they doing or not doing that you can use to make your company or product more appealing? Make your company seem the best place to buy!
There are many other ways to market your business that cost a minimal amount but can leave a huge impact and put your company in a better position to your consumers. RESEARCH! Take a proactive approach. Ensure your business not only survives a recession, it also succeeds in the end.
Posted on Wed, April 7, 2010
by Lakisha Randolph