Top 10 Marketing Concepts For Small Business Marketing

Over the past decade more and more people are getting fired, getting downsized, or getting fed up with their corporate jobs and embark on the journey as a small business owner. Unfortunately, most of the new small business owners fail to consider their marketing plans or strategy. There are many marketing concepts for small business marketing to consider and plan for, but here is our list of Top 10 Marketing Concepts For Small Business Marketing.

Marketing Concept # 1: Consistency

Consistency is the number one marketing concept for small business marketing only because it is left out of marketing concepts for so many businesses. I have worked with a long list of clients, big and small, that are extremely inconsistent in all areas of their marketing. Consistency helps lower the cost of marketing and increase the effectiveness of branding.

Marketing Concept # 2: Planning

Once small business owners decide to be consistent with their marketing, planning is the next major concept to engage. Planning is the most vital part of small business marketing or any level of marketing, for that matter, and so many owners, marketing managers, and even CMOs plan poorly. Put the time into planning your marketing strategy, budget, and other concepts presented here to ensure success.

Marketing Concept # 3: Strategy

Strategy immediately follows planning because your strategy is the foundation for the rest of your marketing activities. In the process of planning, you must develop your strategy: who you will target, how you will target them, and how will you keep them as a customer.

Marketing Concept # 4: Target Market

Target market is also another key concept for small business marketing. Defining exactly who you are targeting allows small business owners to focus on specific customers and reduce marketing waste. A well-defined target market will make every other marketing concept so much easier to implement successfully.

Marketing Concept # 5: Budget

Although it is listed at number 5, budgeting is important throughout the entire process. Creating a marketing budget is usually the hardest and most inaccurate part of small business marketing. Most small businesses owners lack a great deal of experience in marketing, so their budgets usually end up skewed. The most important part of this marketing concept is to actually establish a marketing budget. From there, you can worry about how to distribute your available funds.

Marketing Concept # 6: Marketing Mix

The marketing mix is usually defined as product, pricing, place, and promotion. As a small business owner, you must specifically decide on your products (or services), the appropriate pricing, where and how you will distribute your products, and how will you let everyone know about you and your products.

Marketing Concept # 7: Website

In today’s market, a business of any size must have a website. I hate when I see businesses that have a one page website with out-dated information. Customers, be it businesses or consumers, will search the web over 60% of the time before making any purchasing decisions. This marketing concept contains a slew of additional components, but you must at least develop a small web presence of some kind and keep it updated.

Marketing Concept # 8: Branding

Many small businesses owners also neglect this concept. Small business marketing must focus on this marketing concept just as much as large corporations do. Branding consists of the pictures, logo, design scheme, layout, make up, and image of your products and even your company. Branding is how your customers perceive (please place a lot of emphasis on that word!) your products and company. Make sure to pay special attention to what kind of brand you are building through each step of your planning and implementation.

Marketing Concept # 9: Promotion and Advertising

Promotion and advertising is a very complex marketing concept, but must be considered for any type of business and its products and services. Once you engage the previous 8 marketing concepts, you must finally let your target market know about you and your products. Proper promotion and advertising will result in effective brand recognition, and, ultimately, increased sales.

Marketing Concept # 10: Customer Relationship Management (CRM)

The concept of customer relationship management has become a huge industry in the marketing world. There are many types of software and services offered to help businesses of any size handle their customer relationship management. Since there is so much available, usually for a large sum of money, small business owners usually look at this concept as something they are not big enough for or have enough money to implement. Don’t be fooled by the massive industry that has evolved from this concept. Maintaining proper customer relationship management is essential to creating loyal and consistent customers.

This list of marketing concepts should be examined, researched, planned, and implemented, especially by small businesses, in order to be successful. Also, your marketing doesn’t stop here. Each business is unique and will have additional components that must be considered, but this list will jump-start any marketing plan.

Your, I Mean YOUR Marketing Concept

Let’s start with a definition:

Management philosophy according to which a firm’s goals can be best achieved through identification and satisfaction of the customers’ stated and unstated needs and wants.

OK, it sounds rather clinical but it’s a pretty simple concept. Easy to understand but not so easy to implement. Every business is different and needs it’s own marketing concept. My marketing concept will not work for you because of many factors. Considerations to be made in every business include:

  • Your location.
  • Your products.
  • Your customers.
  • The time of year. (or month, or season)
  • Your competition.
  • If you are a physical location or an internet business.
  • Your budget for marketing.

Your marketing concept must take these points into consideration. Answer these questions and you’ll have a good grasp on what you need to do.

  • Your Location.

Particularly if you have a brick and mortar location, you need to know your area. Are you in an urban or rural location? What is the population of the area you want to serve? Are your potential customers willing to travel to where you are to buy what you offer?

  • Your Products.

What a your products and/or services? What sells best? What has the biggest profit margin? What is your “signature” product? What product or service is unique to you and your business?

  • Your Customers.

This is the most important item to consider for your marketing concept. We could spend hours talking about knowing your customers but for our purpose, let’s consider a few questions to answer. Are they mostly male or female? What is the average age of your best customer? Where do they live? What is the average income of your ideal customer? Write a paragraph or 2 describing your ideal customer. Do people shop online for the products that you sell? Are your products and/or services considered a luxury or a necessity? If you live in an area that is experiencing high unemployment, will people still be interested in your offer at the price you are asking? These are just a few questions to be answered. Given your particular situation, I’m sure you will come up with more.

  • The Time Of Year. (or month or season)

Many business marketing concepts have to take into consideration what time of year it is. Take for instance where I live. Here in Northern Michigan we live in an area that depends on tourism. In the summer we see a great increase in population and many businesses rely on good summer sales to make them profitable for the entire year. In another town, Frankenmuth, Michigan, much of business there is related to the Christmas season. (If you’ve never been to Frankenmuth, you owe it to yourself and family to make the trip. Especially to see my old buddies Kevin and Ron Kern at Kern’s Market!).

  • Your Competition

Knowing your competition is key to your success. What are your differences? Are your prices in line with the others? (Not that price is the most important factor, but it puts you in the game to be competitive.) Is your customer service better than theirs? If not, what changes do you need to make? How close are they to you? Do you compete with them or do they compete with you??? Think about it!

  • Physical store location or an internet business.

Depending on your focus, either or both can be very successful if you plan it out. Here are some questions. Is you store location easy access to walk by traffic. Does what you sell rely on impulse buying? What is your parking situation? Is it easy to get in and out of your store and does it have good handicap access? Do your hours of operation match with your customers shopping habits? Does your store have a public bathroom? Is the lighting good?

If you run an Internet business, how are your skills at SEM and SEO? Do you use WordPress for your website? How are your writing skills?

  • Your Marketing Budget.

Important here is, make a plan and follow it. Nothing will kill a great business quicker than poor funding. One of the great things about an Internet business is that it can be started and run on a shoestring, this isn’t meant to discourage you from a brick and mortar business, but it is the truth. Anyway, Questions: What is your largest funding source? Who do you have to answer to, if anyone, before spending money on marketing? How much does it cost for a Yellow Page ad? Is that where your customers find your products? Other places to advertise can be: local newspapers, Craigslist, Google AdWords, radio (can be a great source), TV, word of mouth (the BEST if your existing customers love you!) and some other things coming up that can really change the marketing game and give you the advantage you deserve.

This article is meant to get the old inventive juices flowing and I’m sure you can come up with many more questions to answer. As always, the more you learn, the better chances for the success you want. America is still the BEST place to be when it comes to business start up (and for everything else). Time to build your dreams. YOU CAN DO IT!

The Attraction Marketing Concept

Have you heard of the term “attraction marketing” along your travels before? Many people have come across this concept and tried to implement it into their business, unfortunately with little to no results. In today’s post, I’ll be taking a closer look at attraction marketing in the hope that you can yield some positive results from implementing the concept into your online business.

How cool would it be to have prospects lining up to get at what you have to offer, instead of having to chase them for their cash? That’s what attraction marketing is all about, it’s simple, yet very effective strategy that can elevate your business onto a whole new level.

Attraction Marketing Concept:

The concept of attraction marketing begins when you lead with value, instead of with your products, business or opportunity. Your goal is to position yourself as an expert when people come searching for what you have to offer. You then aim to provide value to that person above everything else.

People come online each day in search for experts, mentors and/or authority figures. When you came online to make money, did you search for an authority figure to learn the ropes from?… it’s called mentor shopping. You need to position yourself as a leading expert in your field and have people searching for what you have to offer. The truth is though, attraction marketing is a skill that must be learned, but, if you do put the time into learning and implementing this approach to marketing within your business, you will skyrocket your income with very minimal effort.

The Basics of Attraction Marketing:

The basics are pretty straight forward in theory. In practice though, it can be a little tricky for most marketers, simply because the whole concept of giving value before looking for anything in return is alien to them. Your number one goal should be to ALWAYS provide your prospects with value. Anything else is just going to get in the way. Think of all the big name marketers out there at the moment. Are they providing value? Are they fulfilling a need? Are they experts in their niche? Do they over deliver? Have they got raving fans willing to buy their next product as soon as it’s released?

When your goal is to help people get what THEY want, you will see the very same thing being attracted into your life/business. If I sell a crappy product, I can be sure that customer is not coming back. If I give advice that’s useless and helps no one, I can be sure I will not be attracting people to come listen to what I have to say. I know this all sounds very simplistic, but let me tell you, most marketers out there are looking to make money. Their goal is nothing more than that… and they’re failing big time.

I would much rather give incredible value away for FREE to help people get to where they need to be. Only then can I expect them to come back to me for more advice/services further down the road. Think about the power of this. People are naturally attracted to authority figures and people they know can help them. This is why attraction marketing is very important in your online business. If you are just like every other marketer out there selling products, you will find it very difficult to rise above the noise and stand out from the crowd. You MUST have people searching for what you have to offer, instead of YOU searching for them. Imagine that, having people actively searching for what you have to offer… what a contrast to how I see so many others doing it.

If you provide enough value to people they will come back, tell their friends/family and share your stuff within their social communities. People love to buy stuff, they just hate being sold to. Just give them what they want and over deliver every time.

Important: Attraction Marketing is NOT just about providing great products to your prospects. It has a lot more to do with “YOU” as a person. You need to be a person that others are attracted to. Like I mentioned earlier, people look to authority figures for guidance. You must position yourself as that authority figure. If people trust you, they will listen to you, follow you and buy from you over and over again.