Wednesday, July 22, 2015

More marketing tips

     Free daily tips, information, advice and ideas
     to help you better manage your small business.

     Marketing is an on-going concern. Getting the word out about your products and services takes thought and action.

     Keeping up with what's going on in the marketplace is a vital part of running your small business. In today's fast-paced world, it ain't easy.

     The answer is simple. Always give the market what it wants. Your clients and customers usually give you clues. It's up to you to figure out how to apply the clues to your business.

     Example: Anna inherited her mother's consignment shop. It had been established for many years. It was filled with vintage collectibles, games and toys, jewelry and small antiques--no clothing. Anna decided to listen to today's marketplace. She expanded by offering items on eBay and Etsy. She turned a local destination consignment shop into a healthier business. Consignments still come in, but sales are to a much wider area. She is reaching out to a much bigger market. 

     Example: Damien paints large canvases and has had some success in exhibitions that attracted buyers. But the buyers were few and far between--not enough to support his family. At an upscale show, Damien overheard someone say that there were no small, less expensive paintings that they could buy as gifts. He listened to that marketplace input and started producing small, inexpensive paintings that sold well. Today, he is taking that same two-pronged approach to marketing his works. Eventually, he thinks that he might close out the smaller paintings in favor of concentrating on his larger paintings. In the meantime, he is supporting his family. 

     Example: Josh is a chiropractor. To increase his client base, he moved his office several miles away--to a major truck stop. His current clients had no trouble continuing to visit him. But the move offered marketing opportunities not previously available to him. Truck drivers have many physical problems, and Josh is conveniently located to serve them. A simple move to a new location brought in many new clients.

     Many ways to expand your reach into new markets are available to you. Check out internet possibilities, or address a different market segment, or move to a location that attracts new clients. 

     Other possibilities exist. Try convening events, demonstrations, teaching sessions, partnering with other non-competing businesses. Different strokes for different folks.

     Just keep in mind that the marketplace is always changing. Watch it and act accordingly.

     You have the drive and creativity. Put it to work in keeping abreast of the changing marketplace. 

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