Any small business struggles with finding enough money to market effectively. There’s just never enough dollars available to put into marketing. The trouble is compounded by the fact that most small businesses don’t have their own marketing departments. The task is left up to the CEO or someone hired in who doesn’t have as much experience as one would like.
Given the limited resources and abilities of the staff assigned to the role of marketer for the business, it’s a good idea to focus on how to more effectively market with the resources available. Here are a few suggestions to help things along.
Master the Elevator Pitch
Word of mouth is a big one for small businesses without the advertising budget to get their brand out there. For executives in key positions – or the one person responsible for marketing the company – nailing the elevator pitch is a crucial piece of the puzzle.
Riding up (or down) in the elevator, there are only a few seconds to talk to someone in the elevator car about what your company does. Should the subject come up, you need to have your pitch down to 6-8 seconds. Not only is this the amount of time between a couple of floors, but it matches most busy people’s attention span.
Learn the Latest Marketing Techniques
Learning the best marketing techniques is a difficult thing to do. There are many questionable sources of information. It is a good idea to get business information from a credible source, but where is that? Certainly, for short articles with a few business tips, our website and other business-related ones are a good place to start. But for in-depth study, where should one look?
An online MSM degree is an MSc in marketing management. It’s a master’s degree studied entirely online, so it can be studied at home or during lunch breaks and late evenings at work. This course is run by the New England College, a small, private non-profit educational establishment with many years of experience in the topics covered. An online MS marketing degree will be helpful to the person responsible for the marketing.
Don’t Be Shy About Asking for Referrals
Good word of mouth about a business is free advertising. However, those same customers or clients who speak positively about your business could know other business people who would find your product or service useful too. We all feel a bit awkward asking for a referral. However, it costs nothing but time and often leads to hundreds or thousands of dollars of new business.
Next time you are hesitating to ask a happy client whether they know anyone who could use your services, think of the profit you can generate. If you’re addicted to providing a better service than your competitors and that’s what drives you, then use this as your motivation to speak up and ask for the referral.
Marketing is all about learning a few key techniques to keep moving the business forward. Beyond that, learning advanced marketing strategies takes weeks or months to master. Any progress made on becoming a better marketer pays dividends in new business, so the investment is well worth it.
- A Home-Based Marketer’s Guide to Referral Software
- How to Craft a Compelling Elevator Speech
- How to Build Your Referral Sources
- Secrets of Word of Mouth Marketing
- Advantages and Disadvantages of Various Advertising Mediums