Marketing Magic

When it comes to marketing your small business, it sometimes feels like you need a marketing wizard to determine what will really work the best for you. But with a little planning and creativity, you can identify the marketing ideas that are worth trying, and which ones are a waste of time and money for your business.
To help you find a marketing mix that will work for your business, here are four ideas you can use to create your own “marketing magic.”

Start With Some Research
First, you need to gather some information about your customers. You really should know everything possible about the types of people who buy your products and services. Write down the characteristics of your customers; such as how old they are, their income and education levels, marital status, where they work, the problems they face, where they live, their technology usage, where they shop…you get the idea.

Then think about your competition. Why do customers buy their products and services? What is unique about what they offer? Where are they located? Do you compete with other businesses only, or is there a do-it-yourself component that influences your customers? (For instance, if you cater gourmet Thanksgiving dinners, you may be competing with people who prefer to cook this meal themselves at home.) And don’t forget that “doing nothing” is also your competitor – people often do nothing when they don’t feel compelled to make a decision or when they feel overwhelmed.

When you understand who your customers are and the alternatives offered by your competitors, you can begin to focus your marketing strategy on the customers who matter the most to your bottom line.

Meet Their Needs
If you did a good job of researching your customers (above), then you probably already know what their problems are. Think about the ways in which your products and services fit with your customers’ needs, and how you do this better than your competitors.

Who are the customers that need your products and services the most? Can your typical customer afford to buy from you? How will things be better for your customers if they purchase your products? Really take some time to think about the benefits that you provide to customers. Remember, benefits are very different from product features. You may be thrilled with the latest bells and whistles in your product, but your customer really cares about how your product will improve his or her situation.

Make a List of Current Marketing Strategies
Make a list of all of the marketing activities you’ve tried this year. Did you publish your business listing in the Yellow Pages? Offer any coupons? What types of advertising did you try? Also consider things like:

1. Web Sites & Blogs – are yours up to date? Do they have fresh content? Correct info?
2. Newsletters – do you currently send out an e-newsletter to your customers? Do you send out a printed newsletter? How often?
3. Search Engines – how are your search engine rankings? Has your site gone up or down over the past year? Do you know how to check this?
4. Printed Collateral – is your corporate brochure up to date? Did you send out flyers, postcards, or other direct mail pieces over the last 12 months?
5. Press Releases – when is the last time you sent out a press release?

Once you have your marketing activities listed, cross off the ones that did not drive any business your way. One common mistake that small companies often make is that they keep doing what they’ve always done, even if it’s not working for them anymore!

Create a New and Improved Marketing Plan
Take the marketing activities that did work for you and repeat them. Then, use the information you discovered about your customers to really target your marketing to reach customers where they live, work, shop, etc. Examine your competitors, and take note of the areas in which your company is superior or different. Focus on the benefits, not the features, that your product offers to customers. Think of creative ways to get your message out, and don’t be afraid to try new marketing activities!

Once you have determined the best marketing ideas for your business, implement them on a regular basis, and make sure that you track the results of each activity. That way, it will be easy to identify the activities that aren’t working (so you can drop them), and focus your time, budget, and attention on the ones that are getting the best results.