As a small business owner, you most likely spend a lot of time discovering new ways to win customers. Marketing can be a fun or stressful endeavor. The important thing is to understand the types of marketing.
Instead of steering your marketing budget in many different directions, you can choose a specific type and be consistent with it. You will soon see that your marketing budget pays for itself much faster.
Here you will find information about four of the most important forms of marketing. This way you can choose the marketing actions that best suit your business. You can then steer your marketing budget in the right direction.
1. General marketing is a type often used by larger companies. Blanket marketing means you spend money on advertising for everyone. Many people choose to do general marketing by advertising in magazines or newspapers. You don’t really have control over who sees your ads, but you can reach a lot of people.
The downside of general marketing is that it can be quite expensive and you can waste money marketing to people who may never become your customers at all. General marketing is best for those who have enough money available and who think they can get a lot of customers out of the plan.
2. Targeted marketing is a method where you choose a certain demographic and market only to them. This may mean that you are advertising to everyone in a certain area. Alternatively, you can advertise to anyone in a certain age range.
The great thing about targeted marketing is that you have a much better chance of getting customers because you’re advertising to the kind of people who would most likely become customers. The downside is that it will take some footwork to determine who your target is and then find the right way to advertise for them.
3. Social media marketing could be called the new kid in town as it is a relatively young concept. With this marketing, you use one of the many popular social media sites to advertise your business. You can also use a daily blog to bring in business.
The downside of this kind of marketing is that you’re sending your information to a lot of people who might not be interested at all. With blogs you will have to take the time to keep the blog up to date. Otherwise people may stop reading.
4. The last form of marketing is no marketing at all. There are no benefits to this. It may seem like a way to save money, but if your business fails, you lose a lot of money. It is extremely important to find marketing funds within your budget.
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