Marketing Secrets for Small Business Owners


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Marketing Secrets for Small Business Owners

  1. 1. Marketingsecrets forsmallbusinessesWith the compliments of Your Profit Coach
  2. 2. Marketing secrets for small businessesTable of Contents 2. Introduction 3. The 10 Most Important Marketing Secrets 3. Types of media 3. Planning your marketing strategy 4. Additional concepts 5. Creative Marketing 5. Ways to save marketing money 5 Ways to obtain free research 6. Further Information 1 With the compliments of Your Profit Coach
  3. 3. Marketing secrets for small businessesIntroduction Profits are very different from sales. Anyone can obtain sales, but it takes a guerrilla toSuccessful marketing can only be engaged constantly turn honest profits.once you have a marketing plan. When youstart developing a marketing plan you should These profits will be achieved if you clearlystart to use the word positioning. Positioning state your goals, all of them, including timing,means determining exactly what niche your budgets for everything, and projections.offering is intended to fill. Without projections you wont have a measuring stick.You must then ask and answer: Who is myTarget Market? You might want to consider what market share you want, what key personnel may beThree target markets have emerged in the last necessary, what inside services youll need anddecade: Women, Older people and ethnic what outside services youll need to negotiategroups. for the personnel for the inside services.When you have clearly focused on your You should re-examine the marketing planmarket or markets, you can clarify your yearly, whether brief or expanded. Your goalmarketing position. Once you zero in on that should be to maintain it.position for your product or service, youshould measure it against four criteria: Marketing is a way of life - its the oxygen that1. Does it offer a benefit my target really allows your business to breathe and stay alive. wants? Thats why you should never stop marketing.2. Is it a real honest-to-goodness benefit? To emphasise this, heres a list of good reasons3. Does it truly separate me from my why you should continue with your marketing competitors? initiatives:4. Is it unique and/or difficult to copy? 1. The market is constantly changing. When you stop advertising, you miss evolving opportunities.Until you are completely satisfied with youranswers, then you should continue searching 2. People forget fast. Remember people are bombarded with thousands of messagesfor another position. every day.Your finished plan could be 10 pages long, but 3. Your competition isnt quitting!to start with make it one paragraph long. It 4. Marketing strengthens your identity.should be seven sentences long: When you stop marketing, you short- change your reputation, reliability and1. The first sentence tells you the purpose the confidence people have in you. of the strategy. 5. Marketing is essential to survival and2. The second tells you how youll achieve growth. When you cease marketing you this purpose, focusing upon your are on the path to non-existence. benefits. 6. Marketing enables you to hold onto your3. The third tells you the target markets or old customers. Many enterprises survive market. on repeat and referral business. If the4. The fourth (the longest sentence) tells old customers forget about you, youre you the weapons you will employ. doomed.5. The fifth tells you the niche. 7. Marketing maintains morale.6. The sixth tells you your identity. 8. Marketing gives you the edge over competitors who have ceased7. The seventh tells you your budget, marketing. expressed as a % of your projected gross revenues. 9. Marketing allows your business to continue to operate. Marketing creates the air that overheads breathe.Remember - your marketing plan must besimple to implement otherwise - guess what - 10. You have invested money that you stand to lose. If you stop marketing all theit wont get implemented at all. money youve spent is lost, and if you want to start again, you have to startOnce you have given your plan the proper from scratch.thought, brevity and focus, you can expand itto those areas pertinent to your business.While expanding it the prime purpose ofmaximising profits must not be forgotten. 2 With the compliments of Your Profit Coach
  4. 4. Marketing secrets for small businessesThe 10 Most must follow up with follow-up mailings, with telemarketing and with unique mailing packages.Important  Outdoor signs and billboards: Superb at reminding people of yourMarketing Secrets existence and your reason for being. However they do not work well1. You must have commitment to your themselves except on very rare marketing programme. occasions. Works well with other forms2. You must think of that programme as of Advertising. Worded and designed an investment. right, they capitalise upon the momentum generated by your other3. You must see to it that your program marketing. is consistent.  Canvassing: Takes more time than4. You must make you prospects other forms of Marketing. It is however confident in your firm. highly effective.5. You must be patient in order to make  Yellow pages marketing and a commitment. classified advertisements: These hit6. You must see that marketing is an the very hottest of prospects. These assortment of weapons. people are taking the time to look up7. You must know that profits come the kind of information youre offering, subsequent to the sale. so you dont have to expend much energy getting their attention or selling8. You must run your firm to be the general benefits of your product or convenient for your customers. service.9. You must put an element of  Brochures: Offer the greatest amazement into your marketing. opportunity to go into great detail10. You must use measurement to judge about your product or service. the effect the effectiveness of your  Telephone Marketing: Allows you to weapons. be even more intimate than radio advertising. Very flexible.  Tiny signs on bulletin boards: TheseTypes of media serve to make you part of the community, increasing the amount ofThe most important media lesson is this: You confidence people have in you.must run the right advertising in the right  Trade shows or exhibitions:media. But how do you tell right from wrong? Opportunity to make contacts withConsider the different options open to you: purchase minded people who are thinking about the primary topic of the Radio: The most intimate form of show or exhibit. media. Often on a one-to-one basis - in car or at home etc.  Public relations, publicity or even joining clubs and organisations: It Newspaper: Prime medium for fits in well with virtually all other spreading the news. Advertising in the methods and often is the key to newspaper, other than in the classified success. Publicity adds a great deal to sections, should be newsy, interruptive, your credibility. However bad publicity and to the point. is harmful for your company and goals. Magazines: Media in which readers become involved. You can put forth Planning your more information because readers will be more willing to take more reading a magazine ad rather than a newspaper ad. marketing strategy Television: Most comprehensive of the Planning is essential - its easier to understand media. It enables you to convince your if you remember that the word "strategy" is prospects by means of actual demonstrations. Cable and Satellite TV derived from the military and means "the art has the put the medium within the of the General". Choose the marketing reach of all advertisers. This is not an weapons you can use well and list them in an invitation to play around with TV. It is orderly manner. This can be best more of an invitation to give serious accomplished using a marketing calendar consideration to what some describe as which: "the undisputed heavyweight champion of marketing".  Enables you to plan your budget and helps you avoid unforeseen Direct mail: Allows you take the most circumstances. careful aim at your target audience. This can be very costly if misused. To  Protects you from marketing lapses. successfully overcome problems you 3 With the compliments of Your Profit Coach
  5. 5. Marketing secrets for small businesses Addresses the weeks of the year with the way that you articulated it. How particular dates such as bank holidays, you articulate the offer is as important religious festivals etc not being as the offer itself. Abstractions do not overlooked. work. You have to state the benefits to the reader clearly so that they canWho is the target audience? The more exactly relate to it. Stating the benefits is not enough. You have to state them in ayou know who your prospects are the easier it way that the person can immediatelywill be to attain accuracy with your marketing understand and fully accept. It is up toplans. you to make the offer real, exciting and appealing.Select as many marketing methods as you can.  Concept four - Getting leads fromSelect only the ones you are able to do right. your competitors - One of the mostAnd select the ones that will be read, seen or audacious (and effective) marketingheard by your targeted audience. techniques you can use for sourcing leads is to get your competitors to give you sales leads. They will often giveWhen Advertisers discuss media, they talk you the lead if they have exhausted itsabout REACH and FREQUENCY. value to them and can now generate Reach: the number of people who will more income by selling it to you. be exposed to the message.  Concept Five - Getting vendors to Frequency: the number of times each generate leads for you - Lead person will be exposed. generation can be an expensive proposition. But there are ways of doing it for no up front costs at all. OneBefore you select a method of reaching the way is to find vendors who already callpeople, think of this... It is not necessary to say on customers who could buy youreverything to everybody, nor is it possible. product, and offer the vendors a percentage of any sales that theyInstead we should strive to say something to generate for you.somebody! Your marketing message is the"something" and the target audience is the  Concept Six - Joint Ventures - If you need to advertise and dont have the"somebody". money...if you want to mail but do not have the right list... if you have a greatThe main idea is to combine the right marketing idea but can not afford tomarketing message with the right marketing pay for a test...a joint venture may bemedia. the answer. There is not set formula for doing a joint venture. The only thing in common is to find a partner who supplies one or more of the ingredientsAdditional Concepts that you do not have and you and your partner split the profits along the way. Concept One - Leveraging your  Concept Seven - Pre-emptive expertise - Often we come across advertising - This is an offshoot of the people with enormous talent or "educate the prospect" concept. In pre- experience in a particular field who are emptive advertising, you educate the pedalling frantically and achieving prospect about how your product is success, but not nearly tapping their made even if everyone else makes it in potential...if only they knew how to the same way. Being the first to tell "leverage" what theyve got. The people how your product is made, you expertise that you have gained in your pre-empt the story, and it automatically present position could be worth a becomes part of your USP and no one fortune to others. elses. Concept Two - Market your  Concept Eight - Moving Parade - It successful concepts - Almost is almost trite to say that life is a everything that you have developed moving parade. But the marketing that works - successful ad headlines, consequences of that are not trite at timesaving production processes, all. In practical terms, "moving parade" specific offers that have increased sales means peoples need for change. And - should be of value to other that means never assume that a companies. You can actually licence customers response is final. your ideas to others. By paying you a  Concept Nine - Up-Selling - Lets say licensing fee, they gain the benefit of that you have a customer who says he your efforts without having to put in is willing to buy from you. If all you do the time or the expense. is write up the order then you are Concept Three - Articulation IS missing a golden opportunity to important - If you have tried making increase the amount of the sale. Think an offer and it did not work, the fault about your selling situation and youll may not be with the offer. It may be in probably find that you can boost your 4 With the compliments of Your Profit Coach
  6. 6. Marketing secrets for small businesses profit significantly - with virtually no someone who has what the paper effort - by up-selling something to your wants. Therefore you could get your customers at the time of purchase. ads at a fraction of the price.  You can also save money by getting access to co-operative advertisingCreative Marketing funds - many large advertisers pay cash fees to small advertisers whoHere is a 7-step programme to achieve success mention the name of the largein your marketing efforts: advertiser or show its logo in their ads. This could increase the credibility of1. Find the inherent drama within your your ads. offering - The reason why people will  Agree a P.I or a P.O arrangement with want to buy from you should give you a an advertising medium (P.I: Per clue as to the inherent drama in your inquiry, P.O: Per order) product or service.  People enjoy being asked about2. Translate that inherent drama into a themselves and enjoy talking about meaningful benefit - Always themselves - Take advantage of this by remember that people buy benefits not asking questions of your customers. features. This can give you expensive research3. State your benefits as believably as data for free. possible - There is a world of difference  Take advantage of "gang-runs" - This between honestly and believability. You applies to your printers if you are must go beyond honesty, beyond the patient. barrier that advertising has erected by its tendency to exaggerate, and state  Being in a rush is a deterrent to good your benefit in such a way that will be marketing and to inexpensive accepted beyond doubt. marketing - Avoid rushes like the plague.4. Get peoples attention - People only pay attention to things that interest them. There are three main variables in saving money in marketing:5. Motivate your audience to do something - Tell them to visit your 1. Quality shop, to phone the office etc. You want 2. Economy to tell them exactly what you want them to do. 3. Speed6. Be sure you are communicating clearly - Recognise that people arent To be truly successful the first two should be really thinking about your business and selected. that theyll only pay attention half the time that they are reading your ad. Knock yourself out to make sure you are putting your message across. Ways to obtain free research7. Measure your finished advertisement against your strategy - Your strategy is your blueprint. If you Here are the main questions you should ask ad fails to fulfil the strategy, then it is a about your potential customers: lousy ad. 1. What should you market - your goods, your services or both?Now that you have creative marketing 2. Should your marketing feature someweapons, you must be creative in how you use sort of price advantage?them. 3. Should you emphasise yourselves, the quality of your offerings, your selection, your service, or merely the existence ofWays to save 4. your business? Should you take advantage of yourmarketing money 5. competition or ignore all competitors? Exactly who are the competitors? Dont feel that you must constantly change your marketing plan - this costs 6. Who are your best prospects? unnecessary production money and 7. What income groups do they represent? dilutes the overall effect of your 8. What motivates them to buy? marketing. Stick with one programme until it loses pulling power. 9. Where do they live? Make use of the concept of barter - If a 10. What do they read or watch or listen to newspaper does not want what you are in the way of media? selling, perhaps you could trade with 5 With the compliments of Your Profit Coach
  7. 7. Marketing secrets for small businesses Further InformationThe correct answers to the above questions Importantwould be invaluable, but would need great Noticeresearch. Here are some ways to obtain the This guide is for general interest - it is always © Copyright 2001-research data at little or no cost: essential to take advice on specific issues. 2010, Bizezia Limited. We believe that the facts are correct as at the All Rights Reserved. First, go to the local library and ask the librarian for the books that have a raft date of publication, but there may be certain This publication is of moneymaking information for you. errors and omissions for which we cannot be published on our behalf Some of these books will have market responsible. by Bizezia Limited. It studies that apply to you. Others will is protected by study products or services such as copyright law and If you would like to receive further reproduction in whole yours. information about this subject or other or in part without the Secondly ask your customers! Your publisher’s written publications, please call us – see our contact permission is strictly customers have the answers. Send out questionnaires. details on the next page. prohibited. The publisher may be Check for important data at your local contacted at chamber of commerce, any industry organisation to which you belong and (telephone 01444 884220). all the industry publications. Articles and informationThe information youll get will be invaluable contained herein areand can show you what kind of people your published without responsibility by us, theprospects are, how to reach them through publisher or anymedia, how to appeal to them etc. contributing author for any loss howsoever occurring as a consequence of any action which you take, or action which you choose not to take, as a result of this publication or any view expressed herein. Whilst it is believed that the information contained in this publication is correct at the time of publication, it is not a substitute for obtaining specific professional advice and no representation or warranty, expressed or implied, is made as to its accuracy or completeness. The information is relevant within the United Kingdom. These disclaimers and exclusions are governed by and construed in accordance with English Law. Publication issued or updated on: 14 July 2008 Ref: 281 6 With the compliments of Your Profit Coach
  8. 8. Paul Simister, Your Profit One-To-One Coaching AndCoach AdviceI help small business owners find hidden My main service is providing businessprofits from overlooked revenue coaching and advice on a one-to-oneopportunities and achieve a higher return basis by telephone to UK businesses.from the time, energy and money theyinvest. If you own a business based in the UK, I’d like to show you how I can increaseI am a Chartered Accountant, MBA and your profit. I think it’s much moreCertified Guerrilla Marketing Coach. powerful to show you than tell you whatThis blend of finance, strategy and I’ve done for skills is a powerfulcombination for increasing profit even if Go to andyou hate marketing and selling. book your free coaching test drive.The Eight Pillars Of Business Your Profit ClubProsperity For those business owners who don’tThe business development process I use want one-to-one coaching or are basedto increase profit is called the Eight outside the UK, I am creating a low costPillars of Business Prosperity: membership site to teach you how to apply the Eight Pillars of Business1. Your Key Numbers: how to measure Prosperity. and manage your business for See increased profit and cash.2. Your Inner Game: how to create a Your Profit Mastermind Group powerful vision for your life and business which flows through into I have discovered the benefits of working everything you do. with a mastermind group of people3. Your Market Position: how to stand committed to achieving similar goals. out from your competitors in a profitable market. I am in the process of starting a number4. Your Lead Generation: how to of niche based or situation based magnetically attract your ideal mastermind groups to work together one prospective customers and clients. hour each week by telephone.5. Your Lead Conversion: how to See quickly and easily convert prospects into paying customers. Your Profit Coach Blog6. Your Revenue Regeneration: how to turn one time customers into regular My business coaching blog is read by buyers. thousands of business owners each week.7. Your Winning Team: how to attract, See build and keep a hard working and committed group of employees Paul Simister BA FCA MBA CGMC8. Your Systems: how to systemise your 44 (0) 121 554 4057 key processes so your business works efficiently without you. © Planning & Control Solutions Ltd 2010 Your Profit Coach is a trading name of Planning & Control Solutions Ltd. Registered in England No 3897173 Registered office, 17 Beachburn Way, Birmingham, B1 2JB, United Kingdom