Some soar. Some crash. Others survive. The economy in the past several years have been challenging for many companies. What factors contribute to the success of a survivor? According to certain experts, its an unwavering focus on growth and small business marketing.
Consulting firm, McKinsey and Company, states that companies committed to growing their business when the economy is unfavorable, will be stronger when the economy bounces back. Business leaders know they will not achieve the success they desire tomorrow if they neglect their small business marketing efforts today.
Several economic indicators suggest a recovery is around the corner. Others point to slow growth ahead. Your competitors are most likely cutting back on their marketing efforts now, making it easier than ever for you to go after their business. The sooner you set you sights on growing your business - the better. Here are 4 small business marketing initiatives you can do now to jump start your business:
4 Small Business Marketing Initiatives
1. Focus on client emotions, not logic: Zig Ziglar, a world famous sales trainer, states, "emotions drive buying decisions". People buy on emotion and then justify it with logic. Marketing materials that focus on benefits appeal to client emotions; while marketing materials that focus on features appeal to their logic. Even clients who insist they are buying based on features, do so because it makes them feel good.
2. Showcase solutions: Feature unique or creative client solutions on your website, newsletter, bulletin and other marketing materials to showcase your company's talent to the marketplace. Reinforce your commitment to the marketplace and inspire creative thinking throughout your organization.
Focus on the benefits of the solution from the client's perspective vs. operational issues or product features. If possible, include a client statement or testimonial that confirms the benefit was achieved. Create a short, catchy headline that incorporates the benefit to grab the attention of information surfers.
3. Buck the trend: Gestures of good will and community service are probably not on top of many small business marketing to-do lists this year. Buck the trend. Non-profit support is an excellent way to make business connections, build long-term relationships and get free press. The media is desperate for human-interest stories and angles that point to a sign that the future will not be as bleak as today. Take advantage of a quiet marketplace by putting your company on the radar screen now. When something new happens, you won't have to fight for attention.
4. Review, Recycle, Renegotiate: Marketing pieces, like a good pair of shoes, can get tired looking and worn out. Review your marketing collateral and update pieces that no longer communicate your corporate message or identity to the marketplace. Remember, 'you never get a second chance to make a first impression'.
Approach your vendors for economical solutions or an opportunity to renegotiate your contract. Putting pieces online will help reduce production, distribution and warehousing costs, and leverage an important sales channel.
When the economy rebounds, you can take these small business marketing initiatives to the bank, with stronger market awareness and client retention.
Lisa A. Maini is President of myMarketingManager, a full service marketing outsourcing firm that specializes in developing both strategic and tactical marketing programs. Their unique partnership program allows clients to spend more time on growing their business - and less time on managing their marketing projects.
