Marketing Your Small Business Economically
By Mary Scott

Growing a business requires marketing and advertising. Small business is always looking for the most cost effective ways to do both, so here are some tips.

First of all, know who your audience is. Who are your current customers? Who would you like as new customers? What specifically about your product or service is appealing, or unique. Most of the time, it is not about being better; it’s about being different.

Marketing can cost as little as your time, strategically spent. Participating in fund raising events for your favorite charity can connect you with potential customers in an environment where you are all being “the good guys.” Networking in groups where your customers congregate is always valuable. Carry business cards ALL THE TIME, and give lots of free advice. As soon as you really feel that you have given away too much, that’s when the new clients show up… and usually from unexpected places.

I knew a woman at the Long Island Center for Business and Professional Women who was “downsized” three times in the course of two years. Every time I saw her I gave her a potential lead. I e-mailed encouragement a few times, and never thought twice about it. She finally landed a really good job, that I had NOTHING to do with, but then called me to work for her company. That became my biggest client. Be nice. Be sincerely helpful. You never know.

Advertising can be expensive. There are so many different ways to advertise. In order to be effective, you have to go back to the questions about knowing who your customers are, who you want to reach, and where you might reach them.

Besides methods like direct mail and major newspaper ads, there are promotional items, and micro markets. Maybe you should advertise in the Church bulletin. Sponsor an elementary school ball team: there’s soccer, Little League, lacrosse, girls’ teams. Or perhaps a senior citizen function.

It’s important to know where the money is. Where do YOUR potential customers spend their spare time, cash? And, if you have the budget for newspaper ads, you might consider television. The cost is remarkably comparable. Many TV stations will produce a commercial for you, essentially for free, if you buy a certain amount of air time. If you want to use the same ad on more than one channel or station, or if you want to have a series of ads you can use for the next few years, consider hiring an independent production company. They work for you, and will help design exactly the right means of delivering exactly the right message. You will still have to buy air time, but the production should pay off in quality. With cable TV you can also really target your market, but don’t ever advertise in places you haven’t actually seen or watched. Do your homework.

Lastly, what kind of advertising do you like to see? What do you personally respond to?

Are your potential customers so different from yourself? Why or why not?

Answer the questions, than make informed decisions. AND FOLLOW UP!!

Editors Note: Mary Scott is a master networker, and immediate past president of Suffolk County Womens Business Enterprise Coalition. www.scwbec.org She is a small business owner and producer, Make*Believe TV. She can be reached at make-believetv@juno.com

April 2003