Building Your Small Business Marketing Strategy

Small business marketing

Marketing is all about creating an effective message. Without the ability to clearly communicate with your customers, your business will not be able to generate the sales you need to keep operating. A basic small business marketing strategy can be implemented in five phases. Here are some small business marketing tips to help you along through each step.

1. Get Organized

Gather as much data as you can and organize it in a spreadsheet. You need to know specific information about the demographics of your target audience as well as your costs and expected revenues. Past sales figures are helpful, but if your business is new, you won’t have this data. Instead, obtain city and chamber of commerce reports, and take a look at the performance of other small businesses similar to yours.

2. Draft Your Plan

Creating a plan that you can refer back to is one of the most effective small business marketing tips you can follow. Take your data and write down your ideas. Read your plan out loud to yourself and try to analyze it for weak spots. Do you know who your target demographic is? Are you allocating enough resources? Are you investing too heavily in a single area? Your plan helps you to honestly evaluate your strategy before you begin. It is also an important reference to help you rank your results later on.

3. Implement With Confidence

Always create ads that are clear and direct. Do not overcomplicate your message by being too clever. Customers are not usually patient enough to spend their time solving mysteries. Put ads in front of them that are unambiguous. Don’t be afraid to draw conclusions for them by stating what they should think. Your advertising should leave no doubt about who you are, what you do, and why your customers should purchase from you.

4. Track Your Results

Another great small business marketing tip is to have your analytical tools ready to gather data for you from the start. Online analytical tools let you watch traffic to your site.  Keep a detailed record of leads generated from your various sources, and track the number of sales you make. Knowing your conversion ratio helps to determine just how efficient your advertising is.

5. Reevaluate and Adjust

Don’t be afraid to change something that isn’t working. You want to focus on the customers that are the most productive for your business. You should be ready to get rid of any expensive marketing tool that is underperforming. Use your marketing plan that you drafted and the results you gathered to analyze any changes you need to make.

Communicating effectively with your customers is the most critical component to the success of your business. Follow these basic small business marketing tips, and get the most out of your advertising budget.