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Advertising and marketing are key tools for getting your business and its products known to as wide an audience as possible. The same rules apply whether you are opening a shop, setting up a plumbing business or working from home as a web designer: you need to get your name out there through as many means as possible. Whether it's advertising in the local or national press, putting flyers through people's doors, or touting yourself directly to companies, there are many ways to make your business more efficient.
The right image
After you've set the right price for your product or service, decided on your product or service's unique selling point (USP), and how you might communicate this, you are ready to start the marketing process.
Marketing is about communicating a message and an image and making an impression, so think hard about the customers you are trying to reach and their demographics i.e. how old are they, where do they live, what do they do?
Look at what your competition is doing in terms of promotion and marketing, and get a feel for your market. If your marketing strategy is out of step, it's worth questioning who's right. Knowing what works is critical.
That said, don't just copy other people - being different and standing out from the crowd can often be the secret a successful marketing campaign!
Getting known
When it comes to promotion, it's all about making potential customers aware of your product in the most effective and cost-efficient manner possible.
There are numerous ways of making yourself known without needing a big budget, though you'll need to work harder and be smarter than your bigger rivals to make an impact.
Indirect approaches, such as public or press relations (aka PR), can be more effective than 'above-the-line' activities like TV advertising.
Coverage in the kinds of publications your customers read is worth its weight in gold, so don't be shy about approaching newspapers and magazines - these could be national or local. Most journalists are keen to hear good stories, particularly if you make it easy for them by supplying photographs with a press release.
For many new businesses, local coverage may not only be easier, it may also be more effective at generating sales, because you are appealing to the customers close by, and people are attracted to the idea of buying locally.
Worth considering is small-scale advertising in local papers, bulletin boards, and directories such as the Yellow Pages. If you can come up with a catchy slogan that customers can recall easily, this will aid sales. Many of these directories also have websites on which you can advertise fairly cheaply.
Also consider getting involved in community activities as a business, such as sport, the arts or the environment. This can generate awareness and 'good PR' as well as putting you in direct contact with potential customers.
Business networking is also a good way to get your company known and drum up business. Most areas of the country are covered by various business networks (your local Chamber of Commerce or Business Link would be a good place to start), and it's also now possible to business network online.
Broadband success
The Internet could be a great way to win new customers. Having a good website can be an essential tool in helping customers to find you, and it may be cheaper than you think to pay a good web design firm to create a four- or five-page website for you.
Effective use of email and the Internet can be a low-cost route to reaching hundreds of potential customers and, if you get it right with your message and presentation, it can generate sales and referrals as well as getting your name out.
Here are 10 ideas to help you get thinking about advertising and marketing:
- Advertising with the local or national press
- Having a box in the Yellow Pages
- Placing online ads with online magazines
- Putting a card on a local bulletin board
- Sending flyers out with the local paper
- Marketing via targeted email lists
- Having a good, attractive website
- Building relations with the local press
- Getting involved with community activities
- Targeted direct mail and telesales campaigns
Related information:
Putting a business plan together - if you're serious about setting up a new business, you should really start with a comprehensive plan.
What business structure is best for you? - sole trader, 'ltd', 'plc' or a partnership? Read about the different options to decide which is right for your new business.
What you need to know about tax - we set out the basics you need to consider when you need to pay tax on your business profits or if you are self-employed.
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