There is no doubt that the last few years have been a tough time for most businesses of any size, but for small business owners in particular, times have been hard. But even during this period, there are some small businesses in every market that are still doing very well. So why is it that some businesses can thrive in tough times when the majority struggle? What do these businesses do differently?Well there are probably a number of reasons why they do better and we will discuss some of them now.To begin with, the really successful entrepreneurs are very customer focused and will go out of their way to deliver more value with their products and services than their competitors do. They know that if they over deliver on what their clients expect, their client will use them again.They also know that by providing as much value as possible they will be able to charge premium prices because they have differentiated their service in a way that allows them to. More often than not, struggling companies are positioned in the lower end of the pricing model. Small businesses will never make money competing on price, only larger companies who have economies of scale on their side can compete in this way. If you are a small business owner using your low prices as your main selling point, stop now, you will always be working hard for very little reward.If you want your small business to succeed, compete based on customer service excellence so that you can avoid price wars.Another trait of successful small businesses is that their owner has goals and plans for their achievement. In most cases, success does not happen by accident, it is a result of someone taking specific action to achieve it. The moment you set goals and write them down you move a large step closer to achieving them. Without plans and goals, businesses stagnate and fail to grow. Goals maintain momentum and open business owners’ eyes to opportunities that come along.Finally once you become a business owner, you stop being a plumber or electrician, instead you become a marketer. Yet most small businessmen do not consider themselves to be marketers, and it is this failure that limits the growth potential of their business. Successful businesses are always exploring new ways to attract new clients and better ways to add value to the service they provide them. If you want your business to grow, you need to become an expert in small business marketing, and sooner rather than later!
Small business marketing can be tricky, and you can spend so much to only be disappointed. It shouldn’t be that way. For a marketing campaign to be effective, it must be able to attract consumers. One of the mistakes budding entrepreneurs do is making campaigns that are hard for consumers to understand. People won’t come to your business if they don’t understand what you’re telling them. So make your campaigns simple. Basically, you only want to tell your audience what you are offering and why they may need your products. The purpose of marketing is to capture an audience. If marketing doesn’t seem to work, it’s time to evaluate your strategies.One of the reasons why small businesses fail is that they get into the game attempting to compete with established businesses.1. Find your audience. Marketing cannot start without knowing who your audience is. Are you selling candies for kids and young teens? Are you offering laundry and ironing services for homeowners? Are you opening a convenience store in your town? Knowing who might be needing your services or products is a prerequisite to small business marketing.2. Talk to your audience. There are many ways to get your message across. The most important thing is to call their attention. For that, you should come up with an effective marketing campaign. What do you want to sell and why are you selling it?3. Be there as an answer to an existing problem. Clever businessmen advertise products by first emphasizing an existing need or problem and then presenting a solution-their products or services. Consumers will not buy something they don’t need.4. Use a number of marketing methods. One strategy alone is insufficient. Your competitors get their message across through various types of promotions-giving out flyers, tv advertising, online marketing, and SMS marketing. The more selling methods you utilize, the greater your chances of success.5. Highlight the advantages of your products or services. This is important because people have already been buying from your existing competitors. You have to convince them that you have something that your competitors don’t have. Are you offering your products at lower price? Do your products have better quality? Do you offer a new version to old products your competitors offer?6. Know what your competitors are doing. Remember they also find you as their competitor so they might match your offers or products. If you are oblivious to this, you may wonder why customers are coming back to them.7. Small business marketing efforts should be evaluated. The ultimate outcome of effective marketing and promotion is growth in profit.
Many small business owners know the importance of marketing. But all too often they don’t know where to start or what to do. Inside this helpful article, I’ll show you the basic ways to grow just about any small business. Let’s get started by answering a few frequently asked small business marketing questions.How can you add more new customers to your small business?There are many ways to put new customers to your business. Here are a few of those.Sales Letter. One of the easiest ways to put new folks into your business is with a 1 to 2 page sales letter. This is easy to do. And to get started write a letter that makes your reader an irresistible offer. Something they could not pass up. Tell them how they can buy from you. And then get this letter in the mail.Joint Venture Marketing.Another way to put new customers into your business is by partnering with other business owners. Simply find other business owners that sell to your prospect. And then ask them if you can refer your customers to them. In exchange they refer their clients to you.Email Marketing. This is simple. All you do is ask your customers to give you their email address. Which then gives you the ability to send helpful emails to your customers. Make sure you include an offer in each email. But do this after you’ve given something helpful.Is there any way you can sell more to your existing customers?Yes, there is. Let’s take a look at a few ways to do this.Newsletter Marketing. Write out a 4 page newsletter that is fun, entertaining and informative. Make sure you include an offer in it. And then pop this in the mail to your list every 30 days.Referral Contests. Most small business owners think their customers will automatically refer their friends. This is not true. In fact, you have to stimulate referrals. You can do this by holding a referral contest. Give everyone that sends you a referral a prize. And give the top referral source a grand prize.Special Event Marketing. A couple of times a year, you should hold a special event. This can celebrate anything. But the main purpose is to thank your customers for their business. And don’t forget to ask your customers to bring their friends which gives you a fresh list of prospects.Should you raise your prices?Absolutely. And you should do this every year to offset the cost of inflation. Don’t feel bad about raising your prices either. Just tell your customers that your prices will be going up on a particular date. And then follow through on your promise.