Help for Start-ups & do-it-yourselfers The four biggest problems most small business owners have with their marketing and advertising are as follows: 1. They don't have a plan for marketing their business, so they don't know if they are making progress or not; 2. They don't understand enough about their customers' habits, and tendencies; 3. They trust the media to help them make objective media choices; 4. They have too little set aside for advertising, or their budget is out of control. Planning Like just about everything else in life, you need a plan to get where you want to go. Whether you are re-directing an entire company, adding a product or service, experiencing increased competition or just trying to improve customer satisfaction, having a plan forces you to write your ideas down on paper. Once you've done that, and objectively included any external factors that could influence your ideas - you have a basic marketing plan. It also works great for your personal life! Understanding your customer If you're paying attention to your customers, not only while they're in your store, but also around town, at work and in the media, you know that there are actually many small segments which make up your customer base. To grow, you must either sell them more of your goods and services, or find more people to become your customers. The least expensive option is to sell your current customers something else. That's called cross-selling. They are already loyal, so why not encourage them to add something else "to the shopping basket?" New customers are just like your current customers, except not yet in the building. Choose a mixture of advertising media that reaches your customers, and you'll reach the prospects, too. Add, change or revise your inventory, merchandising, and decor to re-excite your current customers, and those same adjustments will bring in new people just like them. Most business owners know segments of their customers pretty well, but don't be fooled by who you see in the store. Men typically don't shop, but they pick up a lot of stuff for their wives. If you see more men in your business than women, don't assume they are making any buying decisions. You could end up advertising to the messenger, and miss your decision-making customer altogether. A little overwhelming? Contact Gould. We can help. Choosing the right media The advertising or communications medium that's right for you is actually a mixture or two or more that reach your target audience effectively. Once you decide what it is you want to accomplish with your message, choose the medium that best fits your purpose - which is to reach as many targeted customers and prospective customers as possible for the least amount of money. Many people think television is the best advertising available, and for some it is. However, if you only have one location in Bloomington-Normal, for example, paying to reach them among the customers who only shop in Peoria or other areas of central Illinois is pretty extravagant. For that business, local radio offers an excellent way to tell your story more efficiently. But WHICH radio station? The one YOU listen to? And once you buy the time, who will make sure your commercial is distinctive and supports the image you want people to have about you? That's why you call a professional. Just getting your name out there is of some benefit, but again, you're wasting money. Newspaper advertising (to reach women more than men), and billboards to reach new people can all be good investments, once you know what you're trying to accomplish, and can see yourself as your customers see you. Staying within your budget One of the real benefits of setting a budget - after you've decided what you need to accomplish - is that it will help you get a handle on what you're spending on advertising and for what. If you go into last year's total business expenditures and write down everything you spent on advertising, including yellow pages and donations, you will have last year's advertising budget. If you don't like what you see there, decide what seemed to work and what didn't, your overall objectives for growth or profit, and cut down on the activities that didn't provide a measurable return. Be careful though, because your "radio may not be working" because you're not using it properly, or your newspaper or television. If your observations tell you a particular medium should work, but isn't, talk to the representative of each media outlet to see how they can help you improve on reaching your specific customers by advertising with them. And remember, the media is interested in selling you what they have, not necessarily what you need. And where can you get some fresh, new ideas? When you're ready for a little professional assistance, contact Gould. We can help.