Introduction
Well, you’ve only gone and done it! You now have your own business… now what?
This article follows on from our article on Core Skills and will look at telling the world about your business and beginning to drive in some custom.
Marketing or advertising?
Often confused or seen as interchangeable, marketing and advertising are two different things.
Marketing
Marketing should focus on strategy.
Looking at the ‘market’ for your goods or services, where it is growing/declining, and developing your strategy to get the most from the best part of your market for the least input.
Marketing is an ongoing activity, but you should have already done enough to decide that your business is likely to be viable. Now is the time to begin to tell the world.
Advertising
Advertising is about promotional activities, whether traditional advertising in local papers or a social media campaign. This is the ‘doing’ part of promoting your business. Telling your potential customer base about your business, its products and/or services.
If you have chosen to register your business formally, you can expect to be inundated by companies trying to sell you the next amazing promotional gimmick… File those in the bin, and don’t be led into buying stuff you don’t need.
Most of the time, giveaways are just that… giving away your money with little hope of return. The simple way to deal with these is to ask yourself when was the last time you bought a product/service in your sector because you had a crappy logoed pen or block of branded post-it notes.
Stop and think about what led you to use a business for the first time. Was it a personal recommendation, Instagram, Google search, or Facebook post? Whatever it was, it worked for them. My guess is that it wasn’t from seeing a plastic pen.
Take this approach a little further and ask friends what made them use or buy from a particular business, especially if it is in the same sector as yours. See if they can remember how they found them. Gather as much information as you can (this is marketing) to help you decide on your strategy.
As an example, my business bank manager recommended a networking club to me, but I realised that it was too local. The likelihood of my networking there with potential buyers or influencers in my sector was virtually nil. Simply put, he didn’t understand my market. I later got introduced to a trade-specific group and joined that. These guys were talking to the same buyers as me, albeit about different products. Networking within that group was a great investment in my time, and over the years, I have sold on direct recommendation, and I have also recommended others in my sector to my buyers.
Likewise, spending a lot of money branding your business before you have a client base is vanity. Your logo means the world to you but nothing to anyone else… yet.
What are some affordable ways to advertise my small business?
If you’re working with a limited budget, don’t worry!
There are plenty of ways to promote your business without spending too much money. Social media platforms like Facebook, Instagram, and Twitter are free and allow you to connect with potential customers.
You could also create eye-catching posters or flyers and distribute them locally. And don’t forget to leverage your existing network of friends and family to spread the word about your business.
Is advertising on Google a good idea for a small business?
Yes, advertising on Google can be a very effective way to reach potential customers who are already searching for products or services like yours.
Google Ads is a popular and cost-effective advertising platform that allows you to target your ideal audience and pay only when someone clicks on your ad.
Which social media platform is best for advertising my business?
Facebook is a great all-around option with a broad user base and sophisticated advertising tools. Instagram is ideal for businesses with visually appealing products or services, while LinkedIn is better for B2B businesses. It really does depend on your target audience and the content you want to promote.
Researching and testing different platforms is important to see which ones work best for your business.
Should I invest in video content for my small business?
Absolutely! Video content is increasingly popular and can be a great way to showcase your products or services.
Consider creating short, informative videos that highlight what makes your business unique.
You could even collaborate with local influencers or create videos that provide a behind-the-scenes look at your business to build brand loyalty.
How can I measure the success of my advertising campaigns?
Metrics to track could include website traffic, social media engagement, and sales. It’s also important to measure your return on investment (ROI) by comparing the cost of your advertising to the revenue generated.
By monitoring your metrics, you can make informed decisions about your advertising strategy going forward.
