As a small business owner, marketing is one of the most important things you do to keep your business growing. Don’t rely on guess work and speculation when putting together a marketing strategy; with thorough preparation, you can spend your marketing dollars wisely and get the best return possible on your investment. Here are three ways to maximize your marketing budget and efforts.
- Do research on clients first, and then use targeted ads and personal messaging. You should know exactly who is patronizing your business. Create a detailed profile of your typical client, including economic and social demographics. The more specifics you include, the better able you’ll be to target your efforts toward your intended audience. Once you’ve researched your clientele, create ads targeted to that specific population. Reach out to prospects on social networks with a professional message that peaks their interest in your business. For example, an independent nutritionist and mother of four, “Cheryl,” seeks to attract clients much like herself: busy moms who want to provide healthy and convenient meals for themselves and their families. She finds that most of her clients are working moms who have the extra income to spend on such a service, so she targets her ads to this population. To maximize this strategy, she also reaches out to certain personal contacts on her Facebook page, specifically people who have posted status updates about starting a new diet or workout regimen. By researching her clientele, Cheryl can focus her time and money in places where they will not be wasted.
- Promote the value of what you are selling. The best way to promote value is to emphasize the versatility of a product or service and how it is the solution to a problem. Cheryl the nutritionist knows that her services can be costly, but in her marketing, she stresses the value of modeling a healthy lifestyle and instilling lifelong healthy eating habits in our children. She offers a sample grocery list to show potential clients how they can actually save money at the grocery store by buying fresh produce to make multiple meals that are easy to cook and will last the week. Her goal is for clients to see the value of a good education about what we put in our bodies. When it comes to our children, it’s a safe bet that most people will do whatever they can to establish good nutrition.
- Be social, fun, and unexpected. Don’t make the mistake of relying on electronic and print ads to connect with your potential customers. Socialize in person and tap into your fun, spontaneous side. Cheryl threw a party to welcome a new neighbor to her street, and provided snacks and a meal from her personalized menu. Anytime someone complimented her on the food, she had an open introduction to point out how easy it was to prepare and how nutritious it was. Find ways to incorporate some personal flair into your business.
The goal for any marketing campaign is to spend your money wisely so as to increase revenue as much as possible. Research your clientele, focus on value, and have fun with it.
What other ideas would you add to our list? Please share them in the comments section below!