Adrian Newman’s latest é-Wealth Daily’ article is titled “Seven Marketing Tips to Increase Your Exposure”. [‘e-Wealth Daily’Article]

Adrian Newman’s latest ‘e-Wealth Daily’ article:

Seven Marketing Tips to Increase Your Exposure

It’s a classic catch-22: you need to spend money in order to get customers, but you need customers in order to get the money to spend. It’s this conundrum that causes many new business owners to neglect their marketing.

In fact, many new business owners place the importance of marketing expenses below office supplies! Is a new stapler going to get you sales? I doubt it.

The reason for this thinking is that many new business owners believe that effective marketing is too expensive. While large companies may spend a fortune on marketing, understand that a small business can also actually market itself effectively — and inexpensively.

Here are seven tips you can use to help you market your new business economically and effectively:

1. Have a Plan: You’ve created a business plan to get your company started. Now create a marketing plan to let the world know that you’re out there. This plan should be long-term — six to 12 months ahead — because this will give you a broader view of your marketing needs. You can then take this information and have a focused “plan of attack” when it comes to purchasing advertising or printing. For example, knowing how much print advertising you plan to do in a six-month period can garner you some volume discounts from printers and even lengthen the payment terms.

2. Become your Own Customer: Sound weird? It’s about as weird as glancing in the mirror to see if we look good to other people. Ask yourself if this marketing plan will really attract new customers. Plus, take on the role of “the skeptical investor” when deciding on a marketing approach. Ask yourself: Is this the right opportunity? Is it cost-effective? Am I hitting my target customer base?

3. Split Your Budget with a Partner: It’s a popular move by a lot of small businesses. The wedding industry is a great example of partnership marketing. For example, photographers and florists will use the same ad space in a trade magazine. This will help you cut your costs substantially. Another great example of partnering is cross-linking with other web sites. Ask a related (but not competitive) company if you can advertise on its web site in exchange for placing its ad on your site.

4. Draw Attention to Yourself: Does your company make charitable donations to various foundations? While it is nice to cut a check for the charity of your choice, you could do a lot more for both the charity and your own business with fund-raising promotions through your company. Have draws and raffles with prizes coming from your company’s wares. It’s possible to even get free radio advertising by sponsoring a non-
profit charity.

5. Turn Any Communication into a Marketing Opportunity: Sending out invoices? Include a brochure highlighting a product or “service of the month.” Did your business get exposure from a recent newspaper article? Make copies and include it in a direct mail campaign! The best marketing tool you can use is free publicity. Take every opportunity to market to your customers when contacting them. You’re already taking the time, effort, and money to get in touch with them anyway, so why not throw in a sales pitch?

6. Track Your Responses: This is the key to all direct marketing and it should be the key to you marketing your own business. Ask customers where they heard about you. Code your flyers or coupons by location and see where most of your customers are coming from. Collect mailing information from customers by creating a VIP program. You’ll be able to know more about the customers who buy from you the most, which
allows you to then focus your marketing on these repeat customers. You can even take this information and trade mailing lists with other non-competing, industry-similar businesses.

7. Don’t Get Ahead of Yourself: Basically, don’t go overboard on one aspect of marketing at the expense of another part of your business. For example, don’t spend too much on a lavish sign and grand opening, only to be overextended on your budget for hiring new staff. Keep your entrepreneur ego in check and spend your money accordingly.

These seven tips will help you get the most out of your marketing budget. Start small and keep track of whether your business increases or not. Stay focused and try not to spread yourself too thin with marketing. If print ads aren’t doing so well, stop using them and try something else.

Never underestimate the power of marketing. It is integral to the success of any business and should be budgeted for like any other business expense!

e-Wealth Daily

About e-Wealth Daily

The e-Wealth Daily Bulletin brings you daily tips, advice and breaking news related to home businesses, small businesses and internet marketing. Our team of experts gives you the information you need to take your business pursuits to the most profitable level. Founded by Adrian Newman in 2003, the e-Wealth Daily Bulletin and www.ewealthdaily.com are a division of Lombardi Publishing with online newsletters reaching over 100,000 subscribers each month.

* IMNewsWatch would like to thank e-Wealth Daily for granting permission to reprint this article.

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