How To Create A Small Business Marketing Strategy That Will Triple Your Profits This Year

What does a small business marketing strategy mean to you? Some people automatically think in terms of their company’s long-term goals. When they start their small business, they create a long-term business plan, including a marketing strategy, that will help them develop their company over time. Others think of a small business marketing strategy as a single campaign. They create a marketing campaign for one product or service they offer, and create a series of marketing tools that will help them sell that product or service.

While both may technically be correct, there is a distinct difference between the two. One creates a stream of income for a short period of time (typically a few weeks to a few months), while the other ensures you have a stream of income coming in on a regular basis.

In order to ensure an effective small business marketing strategy, you must have three things in place.

1. Multiple marketing tools in place. Every day a person is marketed to 60-100 times. You see banners on the sides of busses, advertisements in newspapers and magazines, and coupons in your mailbox. It’s easy to see why marketing tends to become almost non-existent in our minds.

But the thing that a good marketer realizes is that he has to use different marketing tools to reach different target audiences. Everyone has a different attention span. Everyone is searching for different products and services at different times. A good small business marketing strategy has multiple tools in place to capture a prospects attention when he or she is ready for our product or service.

The key is to knowing who your ideal clients are. The more you know about them, the more you’ll be able to reach them in a manner that’s best for them. Good marketing tools are:

* direct mail postcards

* direct mail letters

* advertisements in magazines

* advertisements in newspapers

* neighborhood postcard packs

* door hangers

* flyers

* brochures

* promotional products

* tradeshows

* billboards

* bus stops

* school buses

* regional transportation systems

* sponsorship of school athletics

* and much more

An ideal small business marketing strategy will encompass many of these types of tools, and have campaigns set up using select tools at different times throughout the year.

2. Use those marketing tools over long periods of time. Once you have your marketing tools in place, continue to use them again and again. Probably the biggest mistake a small business owner makes is to grow tired of his own marketing campaign, and abandoning it before it’s realized its full potential.

The average campaign takes a person 8 – 12 times of viewing the same material to recognize the information and take action. If you quit running a campaign before you reach the 8 – 12 times average, you won’t achieve your desired results.

An ideal small business marketing strategy will provide goals to seek out longevity in marketing campaigns. While nuances of a campaign can change (i.e. changing ad advertisement to showcase seasonal products) the structure of the campaign should always remain the same.

3. Use those marketing tools in many different places. Your prospects come from a variety of different sources, and have a variety of different interests. Mailing your brochure out to prospects is a great way of marketing; but you may also do well by placing your brochure in offices of complimentary businesses. Advertisements may work well in your local newspaper; but they may do just as well in an industry trade publication. Direct mail postcards may inspire a lot of people to pick up the phone and call you; but it may motivate more people to visit your website.

Creating a handful of tools to use in your campaigns provides you with the resources. Getting those tools into the hands of your prospects is what requires a plan.

An ideal small business marketing strategy will be a long-term plan that involves creating marketing tools, putting them into the appropriate places, and leaving them in place long enough to let them work.

Copyright 2006 Vision Business Concepts Inc

Is Going Direct Really Cheaper Than A Broker Or Price Comparison For Small Business Insurance?

The UK media is currently awash with advertising slogans from direct commercial insurance companies targeting small business owners in an attempt to make them switch their provider of business insurance.

‘Get 12 months cover for the price of ten’ and ‘You won’t find us on price comparison websites’ are typical of the slogans emanating from these companies, in a language more akin to the selling of car insurance than the traditional professional and almost stoic approach to the selling of business insurance cover.

In the current recession, price has become the determining factor in winning the war of market share for all goods and services and insurance is no exception. Prudent small businessmen and women are looking to cut costs in all areas of their business and the large direct insurance companies are well aware of this.

The large insurers are also aware that the UK market has over five million small businesses of which a fifth are sole traders, self-employed and people working from home, many of whom are familiar with purchasing their personal insurance direct with the provider, either by phone or on the Internet.

There are three types of provider in the current market for business insurance in the UK.

Intermediaries such as insurance brokers and agents, price comparison sites and direct commercial and business insurers.

Each has their own advantage and disadvantages, however whether one distribution channel is cheaper than another is often a subjective view from a particular trade, or dependent upon factors many of which cannot be quantified in price.

Direct Insurance companies claim to be able to offer cheaper polices because the cut out the costs of the middleman. It is certainly true that direct insurers do not have to pay an intermediary for the cost of the lead or introduction, however it is questionable whether this cost saving is actually reflected in the prices offered to the public.

Certainly there are economies of scale to be made by centralising the life-cycle of a policy from sales point to claim and renewal, however all those functions that are performed by an intermediary still have to be carried out in-house by the direct company and these have a cost.

Many large composite insurers often have distinct direct divisions with their own target market and premium rates. The same company may also have a broker or intermediary division or channel.

It is quite often the case that a large broker with a large book of business of, for example, small builders liability, will receive much more preferential rates then the same companies direct channel, because that insurance company wishes to retain that brokers clients.

Commercial Insurance brokers then are often able to offer preferential rates because they have more flexible schemes and arrangements than the direct channel.

One of the main benefits of using an insurance broker or intermediary in purchasing commercial insurance for small business, cannot be quantified in price and is worth the commission or fee that they may charge. That is advice, market and product information and knowledge, access to various markets such as Lloyds and some human help if the worst happens to a business and a claim is needed.

A commercial or business insurance broker is often able to negotiate far better claims settlements than if an individual were to deal direct with the insurer. The main reason for this is once again the insurer wishes to retain that brokers share of the total risk pool and will often pay out to a broker on an ex-gratia basis. This cost of this service is not quantifiable at the quote stage where small business cover may well just be valued for the price paid or the covers bought.

The third major way in which small business owners can purchase cover is by visiting a price comparison website. All the major UK comparison sites have recently begun to offer online cover aimed particularly at the small business sector, with under 50 employees. This is in direct competition with the direct insurers for television and media advertising space, aimed in particular at self-employed tradesmen and women who require business liability insurance and perhaps commercial van cover.

The comparison price proposition is that they can compare the market or at least a small section of it, to find the cheapest business insurance. They often do not provide any assistance in the purchasing decision-making process and the reality often is, that the cheapest commercial and small business insurance can be found in one of the other distribution channels.

It is therefore important that a small businessman shops around and takes some time to compare offerings including premiums, covers and services from all three sales channels. Prices tend to vary immensely by trade across the direct, broker and comparison markets and often it is a case of finding the provider or supplier who is the industry leader for a particular business type or trade in order to make large savings.

Top 6 Tips for Small Business Looking To Embrace Social Media Marketing

For small businesses, social media marketing is essential. It can be the difference between having a successful enterprise or a struggling trade. This is due to the large potential that social media marketing presents.

Unlike multinational organisations, small sized businesses do not have huge marketing budgets to conduct sufficient market research. As a result, social media offers the opportunity for small businesses to directly communicate with customers and discuss all aspects of the business. Businesses can gain vital information relating to their services, and in return, market products and see where improvements can be made.

However, using social media marketing is not as simple as logging into Facebook or Twitter and posting comments. Utilising these websites from a business prospective requires a careful balance of time and strategy. Here are six tips for small businesses looking to embrace social media marketing.

Plan an effective strategy– Before you create a website that bundles all social media websites that you’re planning to sign up to, outline key targets and the ways needed to employ them. Decide which social media websites to use, who within the company will carry it out and what method will be used to assess the progress of the campaign.

Locate your customers– Conduct market research to establish which social media websites your customers predominantly use. For potential customers, search keywords and topics relating to your business to find out relevant blogs and forums to join and communicate.

Time management – As social media marketing can be very time consuming, it is important to find enough time during the business day to communicate with customers and build effective relationships. Customers who see regular activity or have their queries and questions answered are more likely to follow the business and recommend their services. Remember though; don’t just market your business, listen to what your customers have to say.

Be the specialist– Pass on useful information and give solutions that will help customers. This will not only show you’re an expert in your industry, but it will also help build a rapport between you and your customers.

Integrate personality – The best way to maintain relationships is to write honestly and openly. Customers are more willing to communicate with people they like as opposed to business representatives. Another way of incorporating personality is to display a ‘human’ picture and not just the business logo. You should use the same personality when you create a website for your business, so people will recognise the brand.

Offer incentives– Make online customers feel as though they are valuable by offering exclusive discounts and promotions. This will help sustain interest and ensure customers feel integrated in the business.

By implementing these tips, small businesses can effectively promote and expand their online brand, and in the long run, gain more customer awareness. Well planned social media marketing will leave customers talking and consequently; they will be more likely to buy into the brand. Ultimately the key to success is hard work. Posting comments now and again, will only lead to customers disregarding the business, whereas, active weekly posts will result in an online presence that customers can trust and depend on.

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