Top 10 marketing concepts for small businessTop 10 marketing concepts for small business
Over the past decade more and more people are getting fired, getting downsized, or getting fed up with their corporate jobs and embark on the journey as a small business owners fail to consider their marketing plans or strategy.
There are many marketing concept for small business marketing to consider and plan for, but here is our list of Top 10 Marketing Concepts For small Business Marketing.
1 : Consistency
Consistency is the number one marketing concept for small business marketing only because it is left out of marketing concepts for so many businesses. I have worked with a long list of clients, big and small, that are extremely inconsistent in all areas of their marketing . Consistency helps lower the cost of marketing and increase the effectiveness of branding.
Once small business owner decide to be consistent with their marketing planing is the next major concept to engage. Planing is the most vital part of small business marketing or any level of marketing, for that matter, and so many owners, marketing managers, and even CMOs plan poorly. Put the time into planing your marketing strategy, budget, and other concepts presented here to ensure success.
Strategy immediately follows planing because your strategy is the foundation for the rest of your marketing activities. In the process of planing , you must develop your strategy: who you will target, how you will target them, and how will you keep them as a customer.
4: Target Market
Target market is also another key concept for small business marketing. Defining exactly who you are targeting allows small business owners to focus on specific customers and reduce marketing waste. A well-defined target market will make every other marketing concept so much easier to implement successfully.
Marketing Concept 5 Budget
Although it is listed at number 5, budget important throughout the entire process. Creating a marketing budget is usually the hardest and most inaccurate part of small business marketing. Most small business owners lack a great deal of experience in marketing, so their budgets usually end up skewed. The most important part of this marketing concept is to actually establish a marketing budget. From there, you can worry about how to distribute your available funds.
6: Marketing Mix
The marketing mix is usually defined as product, pricing, place , and promotion. As a small business owner, you must specifically decide on your products (or services), the appropriate pricing, where and how will you distribute our products, and how will you let everyone know about you and your products.
In today's market, a business of any size must have a website. I hate when I see business that have a one page website with out-dated information. Customers, be it business or consumers, will search the web over 60% of the time before making nay purchasing decisions. This marketing concept contains a slew of additional components, but you must at least develop a small web presence of some kind and keep it updated.
Many small business owners also neglect this concept . Small business marketing must focus on this marketing concept just as much as large corporations do. Branding consist of the picture, logo, design scheme, layout, make up, and image of your products and even your company. Branding is how your customers perceive (please place a lot of emphasis on that word!) your products and company. Make sure to pay special attention to what kind of brand you are building through each step of your planing and implementation.
9: Promotion and Advertising
Promotion and advertising is a very complex marketing concept, but must be considered for any type of business and its products and services. Once you engage the previous 8 marketing concepts, you must finally let your target market know about you and your products. Proper promotion and advertising will result in effective brand recognition, and ultimately, increased sales.
10: Customers Relationship management (CRM)
The concept of customer relationship management has become a huge industry in the marketing world. There are many types of software and services offered to help business of nay size handle their customer relationship management. Since there is so much available usually for a large sum of money, small business owners usually look at this concept as something they are not big enough for or have enough money to implement. Don't be fooled by the massive industry that has evolve from this concept. Maintaining proper customer relationship management is essential to creating loyal and consistent customers. This list of marketing concept should be examines, researched, planned, and implemented, especially by small business, in order to be successful. Also, your marketing doesn't stop here. Each business is unique and will have additional components that must be considered, but this list will jump-start any marketing plan.(SSW)
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