10 Marketing Must-knows for Every Small Business Owner
By Dan Antonelli
Are you a small business owner trying to boost your dealership’s growth? Do you consider marketing as a questionable expense and a possible waste of time? Then buckle up! You’re about to get a crash course in marketing tactics that drive return on investment (ROI).
1. Know Thy Market. While it takes time out of your schedule, it’s important to conduct research on your industry, market, direct competitors and consumers. The ideas and needs of your consumer base are always changing. You need to know why and how.
2. Know Thy Budget. Not everyone needs a jumbo jet, nor can everyone afford one. Plenty of options are available when it comes to transportation. Your marketing is the same way. Establishing a budget is critical for effective marketing expectation and execution. A good estimate is roughly 5 percent of your sales to start.
3. Not a Business, but a Brand. As a company, your brand is one of your greatest assets. It communicates, differentiates, motivates and establishes credibility. Think of your brand as a spokesperson for your company that highlights your promises and propositions to the consumer. It needs to be on-point.
4. A Massive Attack. Too many times, small business owners react passively instead of plan proactively for business implications, competitors and consumers. It is more fruitful to formulate a plan of attack before making moves that cost time and money. What media channels will you leverage to connect with your consumer? Know before you start!
5. Strategically Speaking. What’s the master message of your brand? This single-minded idea should live throughout all advertising deliverables for an in-sync marketing message.
6. Strategically Acting. How will you put your strategy to work? Print? Website? Online banners? Coupons or promotions? Radio? TV? Identify your deliverables and tools of attack.
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