Effective marketing for small business

////The Unlucky 13 Effective Marketing for Entrepreneurs & Small Business Presented at Show Your Colours, Amsterdam, 7 April 2011 Brant Emery Twitter: @brantemery Website: www.rentabrant.com

Get it right, from the start We all want to do it our way. But steering clear of some common myths can help.

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////13 Marketing Myths ,[object Object],Referrals are the most powerful tools a company can have. However, the majority occurs face-to-face and only a small precentage online. So the reach and impact can be slow for small companies. No problem, you can help speed things up. Help your customers talk about you and your company. Video testimonials, help them Twitter, or Twitter about them, ask them to Like you on Facebook, create a success story of their custom with you. Just help feed the word!

////13 Marketing Myths ,[object Object],Much of the bad press about emails comes from receiving spam, phishing, and such like. All, now, illegal practices. Make sure your recipients have opted-in (or give them a very clear way to opt-out). Email is an essential and effective communication method. Use it wisely. Just try to be timely, relevant, and succinct in your communications.

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////13 Marketing Myths ,[object Object],A common mistake. Competing on price is never the right move for small business, unless that’s your model (e.g. discount warehouse). Once you lower your prices, you devalue your offering. Look for low-cost ways you can enhance your service or product (if you have products, can you add a service that brings value?). Price is also not the barrier people commonly think it is. It’s all about perceived value.

////13 Marketing Myths ,[object Object],Complexity is never the simple solution. Less is more. If you’re coming to this solution, then you don’t have a clear understanding or insight into your market. If you’re adding a service or feature, that’s different; but these should come from clear understanding of how it will benefit customers. Also think, are you communicating in the right way about your products / service? e

////13 Marketing Myths ,[object Object],A dangerous myth. Still believed by many. Practice and research has consistently shown this to be false. Context is everything. People also tend to programme bad connections more easily than positive ones. Even after hearing good stories about a brand, people still recall the bad one faster. In smaller markets, bad publicity can also be doubly damaging.

////13 Marketing Myths ,[object Object],Following is some excerpts from a great infographic from smilespread.co.uk

////13 Marketing Myths ,[object Object],On the flip side, only use social media platforms if you’re sure. Ask yourself: Are my customers here? Will I be saying something relevant? What’s my goal? Do I have the time?

////13 Marketing Myths ,[object Object],A brand is not a logo. A brand means thinking with all aspects of your business together in one, unique, all encompassing set of principles, goals, and vision. Brand thinking can be applied by everyone. The term intangible comes from accountants and is misused by many. For example, soup is made of ingredients which can all be bought, stored and thus accounted for on a balance sheet. A soup brand comes from the skills and knowledge of your staff and the perception of customers, having no physical mass, but yields very tangible results.

////13 Marketing Myths ,[object Object],The concept of brand loyalty does not exist as it is commonly defined. Brand loyalty originated from identification of purchase behaviours in consumers. It originally defined a type of consumer with a brand purchase probability of >0.12 in a specific category. For example, all other factors being equal, a person who would reach for one brand of instant coffee over 12% of the time when shopping. Hardly what most people believe brand loyalty means!

////13 Marketing Myths ,[object Object],This is not completely untrue, but in a small company you are often the CEO, R&D scientist, marketing and salesman in one. The single most important determinant for successful salespeople is the ability to build trust. Good conversational skills are key: listening, questioning, relating, good body language, active voice. As a salesman in a corporation you learn price is never the reason. If a customer says “the price is too high, I don’t have budget” – it’s a signal for negotiation, they are interested. It’s not a no until they say “No”.

////13 Marketing Myths ,[object Object],Marketing services is harder than products. The key factors are trust, proof of success, and availability. Differentiating your business is key. This is hard, but easier for small companies – because it’s you. What makes you, you? As a sole operator or small company, you’re marketing yourself. But if you ask: how can I be at many places at once? Then use video, social media, help happy customers spread the word, be easily findable, find ways to ‘prove’ you are good at what you do.

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Effective marketing for small business

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