Fiducial | We help your business grow and be profitable.

by Renee Fellows

January 3, 2007— It’s that time again. The Rockin’ New Year’s Eve festivities are gearing up in Times Square and you’re wondering how 2008 will be different than last year for your small business. In the spirit of the holiday, take a look the small business marketing countdown below and see if you can’t pull even one idea into your current marketing strategy to make 2008 more profitable and strengthen your brand.

 #10 Marketing isn’t just for the Big Boys. Many small business owners think they don’t have the resources and budgets to have a successful marketing campaign. Think again. Even those small ads in local newspapers constitute a marketing effort and should be included as part of an overall effort. Don’t just place ads and hope that the phone will ring.

#9 Try something new. Tried and true marketing programs are great but consider where your target market ‘lives’ and resolve to venture outside the marketing box in 2008. If, for example, your demographic consists of female housewives between the ages of 25 and 49, think about their hobbies, where they shop and what their children do. Now market where they are. That means, the gym, the soccer fields, scrapbooking conventions and other events. The Boston Flower Show brings 100,000 gardening enthusiasts together at the Bay Side Expo Center for a two-week period. Consider the marketing opportunities to talk to an audience that large!

#8 Don’t be afraid of going after the ‘Big Fish’. Just because you are running a small business doesn’t mean that you can’t go after and secure large clients. Just be sure that you can fully service a larger client and meet all of their expectations. Often small businesses are far more attractive to big business for this very reason. Capitalize on the features of your business that will make a business partnership beneficial to a big company. Features like efficiency, a flat organizational structure (they’re working with the executives and not just a customer service rep), responsiveness and high quality products and service will all lend themselves to sealing the deal.

#7 Develop marketing cross-over programs. There is strength in numbers. By pooling your resources with other complimentary businesses you can do more advertising to a larger audience and share in the benefits of greater buying power.

#6 Identify your best customers. The rule of thumb in marketing is that a customer who has purchased from you once, will more likely repurchase again in the future. Stay in contact with those customers throughout the year with special offers, incentives and even a newsletter or other useful information that relates to your industry.

#5 Learn from your mistakes . Did you run a marketing effort in 2007? Was it a success or did it fall short of the mark? Rather than just tossing the campaign off to a bad mistake, deconstruct the effort and see what aspects worked and which ones didn’t. Was the ad too small? Was the mailing list too broad? Pass out the ad or direct mail piece to colleagues and business associates and ask their opinion as well. Do a cost breakdown and see what you spend per piece or per ad placement and compare to your sales results. What did you spend to get a sale? By learning from your failures as well as your successes you’ll be better prepared to make marketing decisions in the New Year.

#4 Think Ahead. It’s difficult managing a small business and working to just stay on task each day. But if you can carve out one hour a week to stay abreast of industry trends you’ll be better prepared to meet your consumer’s demands one, two or even three years into the future. Unless you can see where your industry is going, you’ll always find yourself struggling to play catch-up rather than leading the charge.

#3 Don’t just build a brand, build an experience. One of the best ways to differentiate your business from the sea of others is to create not only the best products and service but to build a brand experience. Companies like Starbuck’s work to envelope their customers in the brand the minute they cross the store threshold. From ambient music and friendly staff, to the smells and the unique coffee blends they create, the entire brand represents the mission, vision and values of Starbuck’s. Ask yourself what your brand says to your customers. If the answer doesn’t resonate what you’re trying to achieve, make some changes in order to draw your customers in and make them feel that they are part of your brand experience.

#2 Don’t forget about your Internet presence. If you have a retail location, don’t neglect your web site assuming that your customers won’t ever visit it. Much to the contrary, the Internet is often the first place customers will go to check out the company, investigate products or services, compare pricing and find store times. Take Step #3 seriously and carry your brand experience through to your web site as well. Use the power of the Internet to speak to your potential customers and current clients by providing product education, in-depth descriptions and even showing your retail space in 360 ◦ views (great for salons and other personal service businesses).

#1 Be enthusiastic. Whatever strategies you decide to implement in 2008, your enthusiasm for your business, your products and services will be contagious. Remember that purchasing is as much an emotional decision as it is a logical choice or need. If your brand answers the emotional questions your customers have you’ve already won half the decision-making battle. The other half lies in quality products, competitive pricing and a solid customer service program.

The New Year can bring with it a new optimism and new opportunities. Don’t be overwhelmed by your choices, rather take your market into careful consideration and implement a strategy that will work on multiple levels and at multiple time periods. If you’re too busy to launch a concerted effort yourself, bring in expert help and rest assured that you can refocus your efforts on what you do best – run your business. For information on building a marketing campaign that will help you build your brand into the New Year and beyond, talk with Renee Fellows at ClearPoint Marketing Communications at 603-434-9433 or visit the web site at www.OneClearpoint .com.

Renee Fellows is the owner of ClearPoint Marketing Communications in Derry , New Hampshire . She works with small business clients to develop marketing and public relations strategies that bring business and customers closer together. She can be reached at 603-434-9433 or via email at Rfellows@oneclearpoint.com .

Whatever your small business needs, your Fiducial tax and financial professional can analyze your situation and recommend an appropriate action plan. To locate a Fiducial office nearest you on fiducial.com, see the Zip Code Locator located in the upper right hand corner of the page. Do you have a particular topic that we should be writing about that can help your business? Please send your suggestions to: Howard.Margolis@Fiducial.com.

DISCLAIMER
Although we do our best to provide our users with useful and accurate information on our web site, we do not update this information which is derived from sources believed to be accurate. Users must understand that information presented does not serve as an endorsement of any particular company or individual and that this information changes frequently and is subject to differing interpretations. Users are hereby advised that they are responsible for ensuring that the facts and general advice obtained from our site are applicable to their specific situations and should discuss their specific tax, business, financial, and legal matters with pertinent professionals.