Devising your Marketing Strategy

Most small businesses have a very limited budget to spend on marketing. Word of mouth is a more realistic way of marketing your small business, but you have to make sure that people talk about your business in a positive way.

Prepare Your Marketing Plan

First, you need to work out a marketing strategy. Your marketing plan should define what your aims are - doubling your revenues in two years, or increasing your customer base - and how you are going to do it. You should detail any research you can do, for instance: customer surveys, reading about the economic environment in your industry etc and make sure that you put all of this in your marketing plan.

Think Beyond Advertising

You need to think up some new marketing strategy to increase your exposure to potential customers, and you should think outside the frame; competitions, handing out coupons on the street or at trade events, frequent buyer programs, give-aways. These can work not only if you deal with the public, but also if you deal with other businesses. You could also find that you generate free publicity with events and competitions, a great bonus.

Take a marketing course at your local college or university, or an online program. You will not only learn about devising marketing strategy and writing and monitoring your marketing plan, you will be able to talk to other business people who work in similar situations to yourself, and you will be able to discuss new marketing strategies that will work for you. You may even find that you can work out some cross promotions with other businesses - one more marketing strategy that you can add to your marketing plan.

About the Author

Mary Hobson is a consultant for technology start-ups in Russia. She has also worked as an executive officer in a defense facility and as a university lecturer in computer science and management information. Mary earned her first degree in textile marketing and subsequently studied education and computer science at a Master's degree level.

Sources

• http://www.businesstown.com/marketing/lowcost-marketing.asp
• http://www.sba.gov/starting_business/marketing/basics.html