It is not uncommon for a female small business owner to underestimate the role of marketing on her small business sales. Many consider marketing their business as something which only needs to be done occasionally. However, a continues marketing strategy helps you nail down your sales more effectively.
Many business owners are faced with budget constraints, lack of formal marketing education, lack of confidence in marketing, poor communications skills, and a lack of a well prepared marketing plan. Additionally, small business owners follow the same model of high budget marketing tactics like the large businesses. The result is excessive marketing expenditure but no sales.
The best way to market a female small business is to first develop a specific marketing plan which outlines the profits you hope to achieve and the costs associated with it. Making a marketing plan will help you set a clear and well thought-of-marketing strategy to pursue.
The importance of knowing your target market and their needs cannot be underestimated for both large and small businesses. The reason is that by having knowledge of your customers; you will be able to focus on your marketing efforts towards t he niche you are offering products to. In this way, you will not waste your valuable marketing budget on mass marketing.
Having a limited budget does not mean a small business cannot compete with large firms. It just means that the small business owner needs to get more creative and innovative in their marketing methods.
A few innovative ways to market your business are:
1. Use a post card-design an attractive post card with a brief message and mail them to your prospective customers.
2. Keep your eyes open for any major public events in your area. You can invite customer traffic to your business by selling tickets of a popular concert or carnival which is about to held in your town.
3. Build relationships with customers: Interact with your loyal customers on a one to one basis and design incentives like discounts for them. They are the biggest source of mouth marketing which is FREE!
4. Collaborate with vendors: ask your vendors to cooperate with you and share with you some of the marketing budget. This will help you minimize expenditure when you go for mass marketing tools like TV and radio ads.
5. Use social media: from a marketing perspective, social media growth has opened up avenues for you to market your business free of cost. Make your company profile on any of the social media websites which is used by your target market. Develop content for your profile and update it regularly with relevant data from the industry your business belongs to.
6. Blogging: create your own blog and comment on other blogs which pertain to your industry and competitors.
Successfully marketing your business depends on the business owner’s competency and creativity. Funding should not be seen as a constraint which prevents you from acquiring customers. Innovations and interaction is the key to a successful marketing strategy for a small business owner.
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