The #1 Most Powerful Marketing Tool

Whether your business is storefront only or has an online presence, you must have a marketing plan in place to succeed. This may entail a budget set aside annually or as you can afford to advertise you commit the funds at that time. Sometimes the best approach for a new business owner is a monthly budget. No matter which approach you use, marketing should be your number one priority.

It is through your marketing efforts that your customers and clients find you. Therefore, without it your business will eventually die. Moreover, for a business start-up lack of marketing can prevent you from even getting off the ground.
I wonder at how so many new business owners invest their resources in stocking their shelves only to close-up shop within their very first year.

According to the U.S. Small Business Administration findings on business survival rates shows that 66% of all business started between 1992-1998 were still in business after two years. Out of those surviving 50% lasted an additional two years with only 40% of those remained after six years. Could lack of investing in their business through marketing campaigns and evaluating them be one of the reasons for this high failure rate? More than likely.
Marketing not only requires a monetary investment but an investment of time as well. To properly market your business you need to do two things. Before spending a dime, you must do your research and after you’ve concluded your marketing , evaluate the results.

Research where your potential customers are going and what they are reading. You might start by looking at where your competition is spending their marketing budget. Then put together a catchy campaign that will attract them to your business. On the other hand, you might try the buckshot approach if you have an unlimited budget. Either way, if you take the time to evaluate your marketing campaign results, you will have a better idea of how and where to focus the next go-around.
Regardless of how or where you market your business, the results from personal contact is the most lucrative.

Going where your potential customer goes and personally interacting with them will work wonders for your bottom-line. Think about how you felt the last time you went out to dinner and the owner or manager came up to you and showed he/she cared about your dining experience. This personal interaction sure makes me want to come back.

If your target market is women business owners, there is a bi-annual event hosted by the WINning Sisters that brings together women from all over the world. Their event called Spring Fling 2008 offers a chance for men to join them in networking, games and prizes. They feature one guest speaker who shares their business building expertise.

This year’s feature speaker will be focusing on the area of marketing. Their special guest speaker, Gina Marie Mangiamele, Small Business Resource Specialist will be joining them at 8:00 EST to share her insights. To learn more about the WINning Sisters not for profit organization and for event information visit them online at www.WINningSisters.org/.

These types of online activities can be beneficial for many business owners. With the opportunity to interact with other like-minded business owners, you gain valuable insight and experience.

Events like the one hosted by the WINning Sisters offer the savvy business owner the chance to market their business in a non-threatening environment. The simple act of donating a valuable prize can garner free publicity. Not only do you benefit from your sponsorship, but oft-times these type of events are promoted through press release, word of mouth and other marketing means. This brings in “unique visitors” which see your sponsorship prize donation or Quilt Ad and can end up becoming your customer for life.

Being there in person gives you a chance to mingle while getting yourself known. Look around, find out where your target market is and what magazines they are drawn to, and you will find the time spent involving your money and your time in these places to be most fulfilling.

So what is the #1 most powerful marketing tool? The answer is YOU!

© Copyright 2008 Ginger Marks