How to Market Your Small Business to Get More Customers for more money

How to Market Your Small Business to Get More Customers for more money

Fuselending | October 20th, 2017

How to Market Your Small Business to Get More Customers

Marketing your business seems like such an added hassle when you’re already managing your operations. Day-to-day concerns like restocking inventory, managing your employees, and strategizing for the future of your company will already take up so much of your time and energy. Why prioritize marketing as well?

Sales - in the form of cold calling and pitching - is usually in the forefront of owners’ minds when they think about generating profit. However, it is equally important to jumpstart your business’marketing arm in order to work on acquiring new customers faster and creating bonds of loyalty.

But for entrepreneurs without a background in marketing or business administration, how do they go about this? We’l help you with a few tips on marketing your small business to get more customers.

Determining your target market

Every business only talks to a specific type of person. This person is usually a stereotype for a “target market”, or what your typical consumer will look like. You can choose your target market based on demographics - quantitative attributes such as age, sex, or socioeconomic status - or psychographics - qualitative attributes such as color preferences, attitude towards same-sex marriage, or ambitions in life. Each business only has limited resources, so doing research and deciding which type of person would most likely purchase from your company will help you maximize your returns on your advertising or marketing spend.

Case in point: McDonalds’ target market are young professionals in their 20s or 30s who eat fast food alone or in friend groups, while Jollibee targets Filipino families who enjoy fast food as a way of familial bonding.

Defining your unique selling proposition (USP)

Your USP is what sets you apart from others in the same business. You sell automobile parts. Why would a potential customer purchase from you instead of from the other shop selling automobile parts down the road? USP can be based on technical superiority (e.g. better technology) or emotional decisions (e.g. Dove). Your USP will be what drives consumers to choose you again and again over the competition.

Case in point: Mang Inasal’s USP is its unli-rice offering, which no other chained fast food restaurant offered at the time.

Creating a campaign

The purpose of a campaign is to broadcast your USP to your target market. You can do this through various ways: social media, newspaper ads, TV ads, flyers, and tarpaulin posters. Good campaigns are often talked about and spark interest not necessarily among all people exposed to it, but those people who are part of your target market and would likely purchase your product.

With these steps in mind, it will definitely be easier for you to strategize on positioning your brand better and gain more customers for your business.