I talk to a lot of small business owners, and I have noticed one marketing question that comes up most frequently. What is the best way to market your business?
We want to believe that there is an easy answer. A one-size-fits-all solution. But the truth is: If there were one answer to that question, then that marketing method would be saturated, very expensive, and it would be hard to stand out when you use it.
So, if you want to know the best way to market your business, I have a couple of responses. My primary answer is that there are three questions you can ask to find out what type of marketing is best for your business:
- Where is your target market?
- How is your brand best represented?
- What can you afford?
The best way to market your business sits within the intersection of those three answers, and it will be a little different for everyone.
First, any marketing you do needs to reach the correct audience. Your target markets are the individuals, organizations, or entities who would be most interested in your offerings. Although you can share your message with as many people as you want, it is your target market that will want what you are selling and will eventually buy it. So, what is the point of putting your message out there unless you know there is a good chance that it will land in front of your target market? (If you have no idea who your target market is, click here to start figuring it out! Use this version if you sell B2C. ….. Or use this one if you sell B2B.)
Any #marketing you do needs to reach the correct audience. #smallbiz #business #smb #biztips Share on XChances are that you have a lot of options for ways to reach your target market. There are usually many places to get in front of them. So, while it is an important first test, it is not the only factor.
The second consideration is to know how your brand is best represented. For example, you may see all the stats on how beneficial video is as a marketing tool. But, maybe you know that you don’t have compelling visuals. Maybe your team isn’t comfortable in front of a camera. Maybe the idea of video isn’t in line with your value system. Alternatively, maybe you know that you have outstanding writers on your team. Or that so far you are getting the most traction from wooing your existing customers with lavish packaging and bonuses.
Don’t ignore reality. Perhaps down the road you can improve on your weaknesses, but it is worthwhile to lean in to your strengths. You want to reach your target market as a first priority, but within the options that presents choose marketing methods that will showcase the strengths of your brand.
Choose #marketing methods that will showcase the strengths of your #brand. #smb #business Share on XYour list is narrowing, but you likely still have a lot of options. At this point, take a look at your budget. Budget relates to both money and time, because marketing usually costs one or the other (or both). Whatever marketing you do, it has to fit within the resources you have. Even if it is a stretch, it has to be viable.
I always recommend that business owners wait until this third question to factor in budget. Your budget may change once you start bringing in more customers, giving you the latitude to pursue options that were not realistic before. As such, you might as well know the entire list of marketing methods that reach your target market and showcase your brand so that you can decide later if changes in your budget open you up to new possibilities.
The best way to market your #business is specific to your business. #smb #smallbusiness #smallbiz Share on XThe best way to market your business is specific to your business. Answering these three questions will help you find the answers you need to get started.