Business Marketing - Small
In Business Marketing, Small Markets Bring Big Returns
If you want to go big with your business marketing, small markets are the key to big successes. According to the Small Business Administration, 90 percent of the customers for most locally owned businesses live within a 10-mile radius of the business location. Thus, if you own a business in Haddon Twp NJ, it makes sense to focus your marketing efforts on the Haddon Twp NJ or at most in the [statetitle] market because youíll be putting the bulk of your marketing money where they'll do the most good.
Of course, when it comes to business marketing, small isnít just a geographic thing. If you sell baby food, you want to market to parents with babies. If you sell luxury homes, you want to market to wealthy people who are looking for an upscale home. In every type of business, marketing small means identifying your most likely customers and targeting your marketing efforts directly to them. Not sure how to do that? These steps can help you take your business marketing small.
Identify Your Ideal Customer
Get as specific as possible when identifying your ideal customer. The more detailed your picture is of your target market, the more tightly you can focus your business marketing. Small demographics are easier to reach.
Shape Your Image to Appeal
Once youíve identified your target market, look for ways to shape your image to appeal to that market. Choose images, colors and marketing approaches that will resonate with your ideal customer.
Design Your Marketing Promotions to Attract
Discounts and sales are only one type of promotion, and theyíre not always the most effective. Social marketing tactics, such as having a ìLadies Nightî with complimentary wine or offering a special gift when you ìbring a friendî can bring in customers you wouldnít otherwise reach.
Advertise in the Right Venues
Finally, to take your business marketing small in effective ways, advertise in the venues and on the platforms that are popular with your ideal customer. If you sell fishing equipment, for example, place display ads on discussion forums that cater to fishermen. A bonus effect is that the advertising rates on small websites are often less expensive.
In business marketing, small efforts can really pay off big. Follow the steps above and give it a try for your own business.