Small Business Marketing: Getting Back to Basics

As we become seasoned business owners, we sometimes get lost in working in our business instead of working on our business. In doing this, we start to lose sight of why we decided to go into business for ourselves and everything we do becomes a habit. This is why, over the next several issues, we're going to get back to some of the basics of marketing.

With the economy the way it's been, I've seen a lot of business owners responding to the slow times in fear. The first place business owners cut back is in the amount of money they spend on marketing. One of the reasons for this response is because many business owners view marketing as an expense instead of an investment. I'm sure we've all heard the saying, "You've got to spend money to make money." It's true.

With that said, the first thing you need to do is view marketing in a more positive light. Instead of cutting back on your marketing dollars, you need to take this time to regroup and review your business model, see how well you serve your customers, and create a strategic plan for moving forward.

So where do you start?

It's important to take a look at what you've been doing and evaluate how well it's working. Hopefully you have a plan in place to find out from where you are generating new customers. If not, that's the first policy you should begin implementing right away.

In evaluating the effectiveness of your marketing program you need to be answering a number of questions like "What strategies have I been using to market my business and which ones have been successful?," "Is my marketing message focused on what the customer wants or on what I am selling?," and "How well am I serving my customers?"

Once you do your research, you'll be able to identify what strategies are working and those that need to be stopped. You will also be able to determine how well your marketing message works. Finally, by talking with your current customers you will be able to ascertain if there are areas of your service that need to be improved. As soon as you reach this point, you'll be able to create a marketing plan that will get you better results for the investment you are making.

In the issues to come, we'll be discussing the different aspects of a marketing plan including customer service, prospecting, sales, advertising, etc. If you want a better foundation for the planning you will be doing, I highly recommend reading the book, "The E-Myth Revisited" by Michael Gerber. To purchase a copy, you may click on the link below.

The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do about It By Michael Gerber / Harpercollins