Want to Kick Big Boys’ Butt? Marketing Tips for Small Business.

When you work from home or run a small business your resources are limited. Your marketing and advertising budget over a year may be in a range of $500 to $5,000.  Some with smaller budget rely totally on the word of mouth, posting notes in the neighborhood.  Through this post, we provide some simple tips on marketing your small or home-based business.

Do you know your customer mix for your small business?

Pick a pen and a clean sheet of paper. Make a list of all people who can potentially be your customer (call it list A) on one side and the people who could help you reach out to your end user (list B) on the other side. Your marketing efforts need to have a plan for each member of list A and list B.

Example (Tutoring): Let’s say you are a student at the University of Toronto and you want to offer Math and Physics tutoring to high school students. Your list A would entail students studying in the high schools around the University of Toronto and also those located in and around where you live (because you want to tutor on the weekends too). Your list B would include parents of those students, also their friends and their teachers living in your geographical target i.e. around the University of Toronto and around where you live.

What are marketing channels for your small business?

A marketing channel is simply the way (or channel) that your business connect with its target audience, which is a mix of end users (list A) and influencers (list B). Marketing channels can be online such as social media (Facebook, Instagram, etc.), or offline (printed flyers, post in local coffee shops, billboards, door-to-door, etc.)

 

Which marketing channel is better for my business?

You can take some assumptions, talk to potential customers in each channel and try to assess the cost of customer acquisition in each channel, however until you spend money and test each channel won’t you be able to assess channels quantitatively.

Social media is another affordable marketing channel that connects you to friends and family (F&F) and their contact almost at zero cost. Many of the startups use this channel to test the concept and fine and tune their marketing strategy.

to be different or to be better?!

Koorosh Nejad

Koorosh started up his first venture in 1999, an online flower shop. He is an angel investor and a startup guru in the technology domain. Koorosh believes in developing local economies through sup...

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