Marketing Got You Stumped ?

Its not unusual for entrepreneurs to find the whole idea of marketing intimidating. Even seasoned business owners often feel their marketing efforts arent working.

Dont let marketing intimidate you. At its core, its really not much more than common sense the key elements that form your plan. Add some creativity. This is what youll use to implement your plan and make it work. Thats the basis of marketing. Pretty simple once you break it down.

Lets do a quick overview. There are a few key questions you need to answer upfront.

1. Is there a market for your product/service?

If the answer is no, go back to the drawing board. Start over. Because no matter how great you think your product is, if no one needs it/wants it/buys it, you dont have a business.

2. Can you make a profit?

Have you done the number crunching to ensure profitability? If not, go back and work your numbers. Figure out what you need to charge to make your profit on each item or service you sell. See what the competition is charging. Be in line but dont necessarily be the cheapest. Your products may command higher fees (better ingredients, exciting packaging, snob appeal). Or you may choose to be the low price leader but youll need more volume than you would at the high end. In any event, do your homework.

3. Can you survive?

Do you have the resources to see you through until your business starts to show a profit? If not, you may need to keep your day job and do this on a part-time basis initially.

Once youve answered these questions, youre ready to proceed.

The Plan

Youve determined that youve got a product or service that is marketable. Now you need a plan.

Depending on your budget and/or level of expertise, it can be as simple as a Guerilla Marketing Plan or a more detailed plan prepared by someone who specializes in this area.

Basically, your plan will cover the following:

Stating your goal or objectives

Defining your target market

An overview of the competition

Defining your niche or what differentiates you from the competition

Developing a strategy to achieve your objectives

Evaluating the various marketing tools and deciding what you will use/ when

Preparing a time line with goals written in

Reviewing your budget

A detailed list, elaborating on the above items, can be found at the end of this article. Youll see that most of these questions are really based on common sense, nothing more.

Action

I was going to call this section The Execution but decided it had a negative ring to it.

Actually, heres where creativity comes into play. And this is where you may want to call upon an outside resource (or two) to help.

You cant start a business without business cards and stationery (well you can, but dont). If your marketing plan calls for a logo and identity development and youre not a creative find yourself a designer. Interview some freelance designers to see if their style fits what you want for your identity and also if their rates fit your budget. Or you may want to find a design or marketing firm that specializes in working with smaller companies.

A marketing firm will be able to help you with all of your marketing, not just logo design and development, so that may make more sense. Whichever route you decide to take, make sure youre comfortable with the people who will be handling your business. If it doesnt feel right, it isnt. Keep looking. There are lots of firms and freelancers around. Dont settle.

Make sure your logo and business cards really reflect your companys unique identity. The goal is not to look like everyone else.

Promote, Promote, Promote

Networking is probably the entrepreneurs most important marketing tool. So get out there and network. Take your business cards (always!). Join a networking group or two or three. Join chambers of commerce. Attend events. Look into associations relevant to your industry. Make a list of everywhere your target market might be and go there.

Wheres Your Web Site?

Today, most businesses have web sites (mine is coming.). A web site can serve as an online brochure -- a sorry fact for printing companies a plus for small businesses with limited budgets. It also gives you an unlimited geographic reach and the ability to update 24/7.

If you opt for a web site, make sure it presents the image you want for your company. Unless youre skilled at web design, get yourself a professional to handle this. Nothing will send potential customers running as quickly as a bad web site. Think about what you do when youre on the internet.

Your web site should be:

Well designed

Clean and uncluttered (ie. easy on the flash if you must include it)

User friendly -- easy to navigate, fast to download (not everyone has a dsl line)

Well written (written for the web, not for print -- and no typos)

Informative and/or newsworthy

You want visitors to bookmark your site and come back often

Optimized for search engines

Most of your visitors will come from either search engines or links your pages need to be planned for search engines to find them.

It may help to put together a list of sites youve visited that you really like. Use these as a blueprint for your own web site, and dont get side- tracked by a lot of irrelevant glitz. In fact, you may want to also compile a list of sites you dislike. Show these to your web developer so she totally understands what you want.

What About Traditional Marketing Material?

Brochures

Ideally, its great to have both printed marketing material and a web site. Your printed brochure is used as a leave behind or mailer. Take it when you make sales calls or attend events. Mail it out with cover letters to prospective clients. Ask colleagues to distribute them along with their marketing material.

But if you can only do one, opt for the web site. Whatever you do, make sure that everything with your company name on it is well designed and well written.

Direct Mail

Along with networking, direct mail is one of the most effective, affordable marketing tools in the small business marketing toolbox. Not only is it highly targeted, but its affordable enough to allow for ongoing promotion.

Use direct mail for:

Introducing new products or services
Special offers
Sale announcements
Drawing traffic to your web site

In addition to traditional direct mail, look into direct e-mailing. Recent studies show that its about to overtake direct for most U.S. businesses. Newsletters or sales letters, particularly created in html, can be an extremely effective way to keep in touch with existing and/or potential customers. Just be sure to include that opt out on the bottom for people who do not want to be on your e-mailing list.

Other Marketing Tools

For reasons of time and brevity, lets just list some other marketing tools you may want to consider as you plan your assault:

advertising
public relations
speaking engagements
trade shows
newsletters
flyers
premiums
door hangers

Depending on your product or service, the list is pretty extensive. Fortunately, its just a buffet from which you can pick and choose.

Evaluate everything and decide what will work best within your budget. Test and test some more. If one tool doesnt work, try something else. And dont expect to get a hit the very first time. You may you may not.

Like all good things, building (or growing) a business is a process. The dotcom bust should have taught all of us that overnight successes arent necessarily lasting ones. The goal is to reach your key audience as efficiently and effectively as possible. And to grow a successful (ie. profitable) business.

Copyright Rickey Gold & Associates

Rickey Gold & Associates is a small, hands-on marketing communication firm that works closely with clients to identify, reach, entice and sell to their target markets.
rg@rickeygold.com