Marketing on a Budget

Marketing is arguably the most important factor in the success of your business. If you don't have a product that people want to buy, your business won't last too long.

Forget everything that you think about marketing. Forget about flash people in flash suits driving flash cars. It's just not like that. It IS about doing your homework. It IS about researching the kind of people that might be your customers. What are they like? where do they live? How much do they have to spend? Do they NEED your product or would they jusy LIKE to have it? Do they need to buy it NOW ... or can they put it off for a few months.

Think about your product. Are you SURE that it is something that is in demand? IF you've spotted a gap in the market - something no-one else sells - ask yourself WHY no-one else sells it. Can you sell it at a profit? How will you set the price?

How will you tell people that they can buy your product? How will you spread the word? Advertising? Handing out leaflets? World of mouth? Think about how long it will take to generate enough customers. And work out how much it will cost. Will you have enough cash to let you survive until your business generates enough profit to give you a wage or salary?

Work out your Marketing Plan. Don't think of this as a chore. It's a VITAL part of your business success. Ignore it at your peril. Check the 'Information Centre' page on this web site for organisations that will help you plan properly. The only thing that is certain is that what works for one business is unlikely to work for another. there is no checklist that will bring instant success. Research all channels to find the most profitable one for you. Find out the most cost-effective way to promote your business.

Best of all, once you get customers - do all that you can to keep them. It's much easier to sell more to existing customers than it is to keep finding new customers. They will only return if they are satisfied. But if they ARE satisfied, you'll find that not only do they come back. They'll recommend you to their friends, family and work colleagues. So the best form of advertising is to provide customer service that is second to none.

A small busines can never hope to compete with large corporations in terms of advertising budgets. But they can easily out-shine them in customer loyalty. It's not easy, but is very rewarding.

Here are links to some useful web sites with information about marketing: