Small Business Marketing
Written by Richard San Juan for Gaebler Ventures
Depending on where you want to start your own business, sometimes it is more helpful to market locally first before pursuing broad market strategies. This is especially true in towns that maybe represent more of Main Street than Wall Street and where people tend to know each other more.
Large corporations with big marketing budgets often market to a national audience.
Marketing strategies are very different for an entrepreneur or small business owner who wants to concentrate on a nearby local radius of potential customers.
When trying to reach a group of potential customers nearby, it is best to have a direct, targeted marketing campaign towards them. The best way to achieve this is to possibly use a mix of typical advertising and innovative marketing tools.
The one significant advantage of concentrating on local marketing in the beginning is if the product or service is successful, the news will travel fast through word-of-mouth. It does not matter if it's in small-town America or in a specific neighborhood of an urban population; there is no more powerful marketing tool than word-of-mouth advertisement.
Therefore, it is in the entrepreneur's best interests to formulate a top local marketing strategic campaign to ensure the validity of the product or service being offered.
There are several ways to get one's company more visibility in the local market. One possible step involves getting registered on the local Yellow Pages and if possible, includes some sort of advertisement with the listing. New customers often turn to the Yellow Pages to purchase products or service at places where they have not bought before. This would be a good chance for entrepreneurs to lure in possible new return customers if they provide good business.
Furthermore, placing small display ads in specific and highly visible sections of newspapers can provide a boost. If unsure where exactly to advertise the product or service, maybe locate advertisements from similar businesses and place the ads in that same location.
Of course an entrepreneur can go a couple of steps further in utilizing a newspaper to introduce his or her product in a local market. For example, the entrepreneur or small business owner can write up a short press release that announces that his or her business has opened up shop in the neighborhood or nearby location. Perhaps writing a couple articles that explains the benefits of the business; this is especially helpful in dealing with new businesses that are more service oriented.
Another option to help establish a company in a new location is to consider providing free giveaways or offer discounts and coupons of the product or service as a way of introducing your business to the neighborhood. However, probably the most effective way in winning over clients in a localized setting is to network with other local businesses.
Most of the other local businesses will share the same kind of customers as the new company. By networking with other businesses, you can share leads on potential customers. Moreover, getting involved in the community or other groups allows the local community to get to know you and your business. Networking is a significant part in building trust with the locals and other businesses in the area.
Richard San Juan is currently pursuing an MBA degree with an emphasis in Finance from DePaul University in Chicago. He is particularly interested in writing about business news and strategies.
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