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Small Business Strategy

Here's 12 ideas on small business marketing strategy that you can use from Michael Senoff.

Nine Strategic Marketing Information Tips To Explode Your Business

1) Create a Formal Marketing Strategy- start out by creating a formal marketing strategy, determine what your going to market, how your going to market, what promotions you will use, how much you will spend on marketing and what percent of revenue will you reinvest in marketing.

2) Develop a USP - Create a Unique Selling Proposition to set yourself apart from the competition and establish yourself as the leader for your particular niche.

3) Integrate you USP - It's not enough to just have a USP, now you need to let everyone know what it is. It needs to be in your web site, on your letterhead. You people who answer the phone need to say it. Your buying customers need to hear it before and after the sale is made. It needs to be in your e-mail marketing, in your print advertising, in the mind of your sales people. If you have one and it's not out there, you may was well just not have a USP at all.

4) Establish a Referral Program - OMG . . . referrals are the bomb. They are as close to free money as I've ever know. First you need to come up with 3-5 different referral type programs, actively engage clients in the referral programs, and track the results. Get just one or two clients or non competitive folks referring your business it like opening presents on Christmas and Chanukah morning. Get referrals working for you. And don't forget, by offering a financial incentive really makes this work better. There has got to be something tangible in it for the other person who is referring you business to make this work the best.

5) Do a Competitive Analysis - Check out you competition, what nee products or services are they coming out with, find out what their customers like best about them. Find out what they hate. Look on yelp to see what others say about them. Find out if they are old, cheaper, better, have a unique aspect, and find out if they have any add-on or additional services.

6) Test, Test Test - You need to test everything - try testing different variables within your business, your web site, your open rates, your click through rates. Test your price, different offers, different guarantees, different packages, hours of operation. You can try a new logos and ad design too. The point here is that if you are not testing all the time, you may be missing out of something that can really out perform what you are doing currently.

7) Use Only Direct Response Advertising Strategy - Stay away from branding type advertising until you have a number of direct response locations that work.

8) Forget the Branding Image Advertising for now. Branding type advertising is often a shot in the dark and you have really no way of know whether its working or not. With direct response advertising you will know exactly how much you are spending to get a lead and/or sale.

9) Establish Joint Ventures - There is no better way to grow your business that this. This about the famous talk show host Oprah Winfrey. When she has an expert come on her show, all of her credibility move to that expert. These guest become famous from her endorsement. You need to partner with other businesses who offer a related product or service. Partner with others that can offer better or cheaper, or that you just don't have time for. It's tough to offer a number of different products and services, so why not have someone else do most of the work, and you just take a portion of the profits.

10) Create a New Employee Training System - An important aspect of being successful is having great employees. Establish an intense and preset of training and testing methods to ensure consistency across all your employees.

11) Setup Regular Employee Workshops - don't stop with the initial training of your employees, have regular workshops to improve upon, expand on their skills and abilities.

12) Review your Small Business Strategy at Least Annually - the above 12 components make up a good chunk of your marketing strategy but unlike the Ronco products you can't "set it and forget it" when it comes to a great strategy, at least once a year go over your strategy, look at what worked, what didn't work, what you should change, what you should at and what you should omit.

If you like these ideas on Marketing Strategy, you'll love these related business marketing strategies sites: Go to Strategic Business Management and also great articles on business strategy can be found here at Marketing Strategy .

Marketing Strategies

Free Marketing Interview Below On How To Use Small Business Marketing Strategy Using Audio Interviews

 

 

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