Five ways your small business can advertise like a big business
Break through all the advertising clutter by engaging Words at Work,
the Toronto ad agency that shows small business owners how to think big.
- Data mining - Every business generates data. You can mine that data even if you don't have a sophisticated computer system or cutting edge AI (artificial intelligence) program. Not collecting data? It's time to start.
- The 80-20 rule - Many small business owners get into trouble by assuming every customer/client is important. This is a big mistake because it means you are wasting resources (time and money) on low value customers that could have been directed to much higher value customers/clients that have excellent sales potential. The 80/20 rule focuses your mind on who is really important – and how much attention they get.
- Marketing research - You probably assume that marketing research is only for the "big guys" – major corporations with huge marketing budgets and full-time marketing staff. Think again. The introduction of the Internet and innumerable online sales, marketing and advertising programs has changed everything. It is even possible now to do research for as little as $500, using platforms such as Google Adwords and Social Media options such as Facebook advertising. Ask us how.
- Investing in sales when times are good - It's human nature to focus on existing clients – and ignore new business development, – when your business is hot. Successful businesses never do this. In fact, they do the opposite. They increase sales efforts by adding staff, training existing staff and widening and deepening existing marketing and advertising programs. Why? They know that sales development needs to occur when you have the luxury of time – something you will not have when sales (and revenues) are declining.
- Test, test, test - Every major advertising campaign began as a small advertising campaign that was tested, and adjusted, multiple times. You can do the same, just at a smaller scale than national advertisers. It is easier than you think – and far less risky than investing an entire advertising budget in one campaign, the typical approach used by small business owners.