Know your business

Small Business Marketing

Now that you own your small business you need to market it. There is no need to fear small business marketing strategies. Small business marketing strategies include things as simple as the business sign in front of your store, to Internet small business marketing, and advertising in different forms of media.

The type of business that you have will help determine the best strategies for your small business marketing. Your small business marketing will essentially determine the strength of your business' success. You will want to make sure that you choose the best small business marketing techniques to attract and ultimately keep new customers.

Just as important as the business plan is to the start up of your new business, a marketing plan is just as essential. Your marketing plan will help you discover more about your potential customers, and thereby help you determine which marketing strategies will be the most effective. Your marketing plan should include the 4 P's. These include Price, Place, Products/Services, and Promotion. You should study the pricing techniques of your competitors. It is a good idea to keep records of what your competition is doing. For example, what their prices are, how they advertise, etc. It is also a good idea to continuously review this information noting their weaknesses and strengths, and also to determine if they have made any significant changes to their marketing strategies. This will help you determine the best prices for your products/services, and can let you know which marketing strategies may be the best for you services. Your marketing plan should have a well-researched and developed pricing strategy comparable with your competition.

You will also want to describe the strengths and weaknesses involved in your location. Also, define in your marketing plan how your location will help you attract or hinder customers. This information will be used to determine marketing strategies as well.

Next, include a description of your product/services in your marketing plan. Describe what are the best or key features of your product. Point out the particular selling points. This information is invaluable when determining the best means of marketing your product or services.

Finally, you will need to develop your promotional marketing strategy. This will include things such as print media, advertising media, networking, t-shirts, pins, signs, radio, Internet, and television.