| Don't Take Notes From Big Business Are your | | | | professional or hiring a consultant to advise potential |
| marketing efforts not yielding results justifying the | | | | strategies. |
| investment? Before you react, consider your view of | | | | Stop considering yourself as a company. This may |
| marketing itself. | | | | seem counter intuitive. As a small business owner you |
| I've found a tendency for small business owners to | | | | wear many hats, from accountant to supervisor. The |
| consider marketing in the way big businesses practice | | | | next time you put on your marketing hat, stop thinking |
| it. To illustrate the point, think of five advertisements. | | | | of yourself as a company. |
| Now, compare your marketing budget to theirs. Do | | | | People don't particularly like companies. Companies |
| they compare? | | | | want to sell us on something. They use automated |
| Celebrity endorsements, television commercials and | | | | phone systems that keep us from a human being for |
| billboard ads are expressions of marketing that | | | | as long as possible. They charge us too much for |
| typically come to mind. It's natural. We're a product of | | | | coffee. |
| our environment and we're constantly saturated with | | | | The challenge isn't to convince people to like your |
| corporate messaging. | | | | company. That's a difficult fight to win. Instead focus |
| How businesses have marketed over the past 80 | | | | on the associations people have with your company. |
| years is a result of mass production. Large-scale | | | | What does your product or service mean to them? |
| output led to mass marketing and created mass | | | | To help realize your potential in 2010, consider your |
| media. Like its products, companies found that | | | | business' identity in the minds of your customer. It's |
| packaging and delivering marketing content was also | | | | how they define you that really matters. |
| an efficient business practice. | | | | Take Calculated Risks People like to stick to what |
| Businesses wanted their messages to be seen by the | | | | they know. We are creatures of habit and tend to |
| most people possible. The bigger, the better philosophy | | | | fear change. But, if you completely eliminate risks, you |
| worked because demand exceeded supply. "Market" | | | | also eliminate the opportunity to grow. |
| evolved into a verb. It became something that | | | | It's a new era in business. We have new challenges |
| producers did to customers. | | | | that require new solutions. Perhaps you have refrained |
| Return to the Marketplace To reevaluate your view of | | | | from new opportunities to market your business |
| marketing, consider an original practice. Marketing | | | | fearing they won't match with your customers. But |
| began hundreds of years ago as literally going to a | | | | consider the importance of reaching and influencing |
| marketplace to sell a good. Craftsmen would engage | | | | existing customers. Yes, frequent customers make up |
| buyers face to face. He encouraged conversations | | | | a significant portion of your sales but frequent |
| and built relationships in order to sell his product. His | | | | customers aren't synonymous with loyal customers. |
| craft became an extension of him. "Market" was | | | | Consider marketing less-popular products or services |
| something done with customers. | | | | to target lower-volume customers as they represent |
| For small businesses to succeed in 2010, you'll need to | | | | the greatest growth potential. Small businesses are |
| return to the marketplace. Rather than setup a booth | | | | more nimble than the big guys. If you try something |
| at a flea market, try to give customers what they | | | | new and it doesn't work out, you can more quickly |
| want. Not just with your product or service, but in your | | | | change your strategy. You don't face long negotiation |
| marketing. | | | | processes, there's no red tape and minimal office |
| I can't think of someone who demands more adverting | | | | politics stand in your way. |
| but everyone appreciates a good conversation. | | | | There is uncharted territory to be covered along with |
| Conversations engage us in a powerful way. They | | | | new successes to be realized. Maintaining complete |
| contribute to partnerships, inspire ideas, make us laugh | | | | control is a losing game in today's market place. |
| and may even cause you to sell something. | | | | Instead take a managed risk. Just start small. Until you |
| Determining the best place to start your conversation | | | | venture to try something new, you won't know your |
| will depend on your product or service. Start by | | | | business' full potential. |
| investigating options to market online. Consider social | | | | Re-Define Failure We have come to a universal |
| media networks as an opportunity to allow you to | | | | understanding that failure is a bad thing and should be |
| convey your unique voice. Like the old marketplace, | | | | avoided at all costs. You've heard the phrase, |
| encouraging a conversation will build relationships. Not | | | | "happiness is a state of mind," but consider that failure, |
| only is it more personal, it's more effective. | | | | too, can be a state of mind. |
| Continue to Invest in Your Business When some small | | | | Failing can actually make us smarter. There is great |
| business owners feel the pinch, they react by | | | | value in learning from our mistakes. If we apply an |
| drastically reducing their marketing budgets. However, | | | | understanding of what went wrong to future efforts |
| continuing to invest in your business is especially | | | | we can improve their effectiveness. |
| important during a downturn. | | | | Re-think your definition of failure. Even if an effort |
| Competition actually increases during a recession. As | | | | doesn't achieve your initial goals, don't jump to |
| many talented people are laid off, they substitute their | | | | classifying your efforts as a failure. You may actually |
| time by innovating and opening businesses of their | | | | uncover success in your failure in the form of |
| own. The Internet itself is also increasing competition. | | | | information. Apply what you learned to improve the |
| For example, Esty is a website that allows individuals | | | | effectiveness of your next initiative. |
| to sell goods without having to operate a business of | | | | Just as there are new challenges for 2010, there are |
| their own. | | | | new opportunities. Technology has gifted business |
| As consumers become more conscious of the dollars | | | | owners with thousands of new opportunities to reach |
| they spend, they more thoroughly evaluate potential | | | | customers. Unfortunately, new technologies are |
| purchase decisions. Consumer review and price | | | | frequently avoided. We don't always understand them |
| comparison websites keep today's consumer well | | | | and they have yet to be "prove" their effectiveness. |
| informed. | | | | The truth is that you don't have to be a technological |
| Facing increased competition is not a time to lay-low. | | | | expert to employ all these new technologies. Many |
| Smart marketers know that their efforts create | | | | innovations are so user-friendly; they don't require hiring |
| long-term friendships. When we emerge from the | | | | an expert. Regardless of how your business uses |
| recession, the value of continually maintaining | | | | technology, the role of technology in your customer's |
| friendships will be realized. If your business isn't | | | | life is increasing in importance. |
| proactive, your competition could recruit the majority of | | | | Once we realize that failure doesn't have to be a |
| post-recession friends! | | | | disheartening blow to your ego or bank account, we |
| Continue to invest into your business. If you're | | | | can begin to plan on failure. Accounting for failure |
| marketing efforts haven't achieved the results you | | | | reduces the risk involved with failing and establishes a |
| desired, re-think your strategy. Consider relying on a | | | | system for future successes. |