According to the Association of National Advertisers, as of August 2009 74% of business marketing departments are reducing their advertising budgets. If big companies are doing this, you can be sure that small businesses are currently reconsidering and reallocating their advertising budgets. Combine this with the need to replace some of the business volume you may have lost, what should you, as a small business owner, do to market your goods and services?
There is no need to completely eliminate your traditional marketing efforts like print advertising or direct mail. But now is a good time to try some of the new methods also. Right now, you need to be trying everything out so you can see what works and what doesn’t. With these methods, there is no harm or loss in trying!
If you aren’t leveraging social media as one of your small business marketing tools, you are missing out on a fun and free way to find and build relationships with new customers. It is also a way to interact and become more familiar with your existing customers as well. While interactions on Facebook or LinkedIn take persistence and patience, they have paid off for many entrepreneurs.
As a small business owner, you should know that every time you lose a customer and have to replace them, it costs you real money. Take care of the customers you already have! A simple thank you card in the mail, a phone call or visit go a long way in reminding them that they truly are appreciated. It also goes along way in making sure they think of you when someone asks for a referral.
Build a referral network. What is this exactly? Essentially it is a network of individuals who refer business to one another. Let your accountant, your attorney, your doctor, your computer maintenance person or anyone else that you do business with know that you are looking for new business. Let them know you’d be glad to refer to them if they would do the same. Feel confident in those people you refer business to! But be sure to let your trusted contacts know you are seeking referrals.
Get involved in your community. Working for Habit for Humanity, at your local church or other community organization benefits everyone. The bonus of is that you build relationships by being a community go-to person. And wherever you meet people, they will ask “So, what do YOU do?”. You get to answer and sell yourself.
A well-developed spiel about your business is important so you can answer the question “What do you do?” with aplomb. This presentation is called your “elevator speech” because it is short enough to deliver on an elevator ride. Be sure you flesh it out a bit if you are in a traditional business. If you own an auto supply store, don’t just say that. Say “I own a business that supports both casual drivers as well as car collectors by carrying one of the largest inventories in the area. What kind of car do you drive?”. This opens up a whole new conversation.
Spend some time making sure your blog and website are search engine optimized (SEO). SEO improves your rankings on major search engines like Yahoo and Google and is improved through using links, changing your category titles or using good keywords. You can do much of this yourself. If you lack confidence, get some help. I can give you insights into this and have articles on this topic on my website.
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