By Jaime Nacach
New small business owners need to appreciate the power of marketing.
Small businesses face a difficult start without a firm grasp of modern marketing. Some modern marketing tools are very efficient and cost-effective for fledgling businesses. Unfortunately, many new business owners simply assume that it’s “too soon” to start heavily marketing. This couldn’t be further from the truth.
Establishing a New Brand
New business owners usually wear several hats in the beginning stages of their companies. Starting a new business is extremely demanding in any industry, so it’s important to understand the role marketing plays early on. For example, investing early in brand awareness can help attract top talent who want to be part of something new and exciting. Additionally, early investments in marketing typically pay off tremendously in the long run. Your first customers are likely going to become regulars if they have a good first experience.
1. Knowing the Customer
The first must-have for any new small business owner is knowledge of the customer. In order to serve your customers best, you need to get to know them. One tactic major marketing firms and top marketing professionals rely on is creating customer profiles. These profiles are basically mock-ups of your different customer types. Depending on your business and industry, these could include various types of professionals at different organizational levels, or individuals with a particular budget and need.
New business owners need to take the time to devise customer profiles for the people they intend to serve. This is a great first step in making strong connections with customers, so never undervalue customer profiles.
Once you have a firm grasp of who you are trying to reach, start trying to reach them. Growing awareness of your business is vital – small businesses typically need to have a strong start to stay afloat for the long haul. Additionally, having a strong first year can significantly help the business in the event of economic instability or other uncertainties.
2. Social Media Marketing
The second absolute must-have for the new business owner is social media presence. After you figure out who your most likely customers are going to be, connecting with them on social media is a fantastic way to market your business at very low cost. Build social media profiles for your business on the platforms your customers use most. If your target consumer is younger, in the 18 to 30 range, Instagram and Twitter will more than likely yield good results. For older demographics, Facebook and Pinterest may be better fits.
3. Building a Local Following
Finally, new small business owners must have some kind of local community presence. Small businesses typically form the backbone of a local-level economy. There are countless opportunities for cross-promotion for virtually every kind of business, so think about the ways your new company can help the local community. Consider taking part in fundraising events, festivals, and other local events. This both …read more
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