Marketing is an ever-changing, sometimes elusive activity.  Even the marketing experts are continually tweeking their strategies to stay focused on attracting the customers they want.  So what should typical small business owners do whose expertise is in delivering the product or service they started the business for?

First, understand that marketing is simply the message you send out to connect with people who want what you sell.  Communicating this message is actually easier than creating the message itself.  And herein lies the problem.  Most business owners focus exclusively on the type of transmission vehicle that carries the message instead of crafting a compelling message that entices their customers to want to do business with them.  When this happens, most marketing programs are equally as effective and tend to deliver the same poor results.

So, start by reviewing what you have received for the money you have spent on marketing programs.  While every business has unique qualities that may favor particular approaches, here are some of the more common forms of marketing and some tips on how to evaluate their effectiveness.

1.  Local phone books-  Most of these directories have been replaced by more robust on-line services.  Still, a tremendous number of businesses continue to advertise in ‘yellow page’ style books.  Look at the section of the book you occupy.  Based on competition, the size you select and cost you agree to pay, the listing should be big enough to have one main message plus contact information.  Anything more (and the cost associated with it) can be put to better use.

2.  Newspaper ads-  Unless you do a substantial volume business or rely on holidays for the majority of you business, forget them.  The cost grossly outweighs the benefit.

3.  Coupon mailers-  These vehicles are acceptable for car washes, hair cuts and pizza but not much else.  Most people don’t even open the envelops and if they do, they usually don’t look through more than 4-5 on the top.  In any case, the coupon redemption is less than 1% so figure out how much you will pay to get 2-3 people to call you.

4.  Online local listings-  Several companies sell services to place you in all local listings for an ongoing monthly fee of anywhere from $69 to $99.  If you have the know-how, you can do 90% of this yourself and save about $800+ a year.

5.  Door flyers-  Most of the cost of this promotional approach is in the cost of delivering the flyers.  They can be very effective if combined with something free.  Real estate agents do very well by advertising themselves on pads of paper.  This way, your name stays in front of your prospect for some period of time.

6.  Mobile Text Messaging-  A relatively new advertising medium, this service sends text promotions and offers to people who sign up using a text message code.  They can work very well for low cost purchases or time specific offers like free sodas with any sub during the lunch hour.  Other than that, I predict this program will fade as people will tire of getting ads sent to their phones.

7.  Radio-  Broad reaching but can be expensive.  Depending on the time slots, you may or maynot even be talking to your potential customers.  All times are not equal so ask lots of questions about the schedul you buy into.

8.  Billboards- Predominantly dependant on your message and the location.  Unless your business has a visual component, I would pass on this sort of advertising.

9.  Networking events- An excellent way to build visibility and referrals but it can be time consuming.  You may need to test a few different groups to see which ones attract the types of referral partners and customers you are looking for. For most quality networking groups the annual cost will be approximately $700- $1,200.

10.  Websites-  One of the single biggest marketing expenses for a small business, your content, appearance and functionality must all work together or your designer and hosting costs are going down the drain every month.

Be very critical of your returns with any of these marketing approaches.  If you are spending $500 to $2,500 per month on a variety of programs, make sure you can message the business you get.  If the return is poor, cancel the agreement.  With the money you save, hire a small business coach to help you perfect your marketing message first.  This way, the advertising programs you do chose will have a much greater response.

Originally posted 2010-02-14 21:29:10. Republished by Blog Post Promoter