Should I buy an online ad?
Do I need to spend money on direct mail?
Since most small businesses don’t have large marketing budgets, your approach to marketing should be strategic. You need to start by answering these two questions:
- Who are my target customers?
- Why would they buy from me?
These questions are fundamental, and all of your marketing efforts should be based on your answers. If you aren’t sure how to answer the questions, ASBTDC can help.
Marketing involves all of the ways in which you communicate with customers. Essentially, marketing is presenting a message to customers and influencing customer perceptions. Effective marketing doesn’t happen by accident. Developing a coordinated, targeted, and systematic approach to marketing requires planning.
Your marketing plan can be formal or informal. Whichever format your plan takes, you should include a written timeline of planned marketing activities.
We can assist you with creating a marketing plan that goes hand-in-hand with your business objectives and financial resources. You can also get advice on branding, signage, online presence, advertising, and other ways to promote your new or existing business.
Marketing Dos and Don’ts
DO research your target market and how to reach them. You can get cutting-edge market intelligence at no charge from ASBTDC, including customer segmentation, market potential, and consumer-spending reports.
DO make sure the market for your product or service is large enough to provide you with a customer base to support your business.
DO have well-defined marketing objectives before you start and a budget that matches the market you are trying to reach.
DO ensure that your product or service can deliver on any promise or features you use to sell it.
DO keep your marketing pitch simple and focused.
DO establish a marketing calendar and stick to it.
DON’T try to sell your products or services to everyone. Be clear on who your customers are.
DON’T assume that everyone who purchases your products or services does so for the same reasons. Each customer type in your target market will have different reasons and motivations for buying your product.
DON’T overdo promotional pricing or special offers, as deep discounts can affect how customers perceive the value or quality of your products or services.
DON’T try to be everywhere. Instead, start with one or two marketing methods that fit your goals, then build from there.
DON’T go overboard with the sales pitch. If the only content customers get from your brand is “buy, buy, buy,” you may turn them off. Seek to add value and engage your audience.
Market Research & Analysis
Every small business needs customers.
Market research can help identify and find your perfect customer. Through our consulting services, we help current and prospective business owners connect the dots. The customized research can help you answer questions such as:
- Who are my best customers?
- What do they buy?
- Where can I find more like them?
- How can I reach my customers?
We provide personalized, tailored market analysis based on your unique needs. The in-depth, high-quality information comes from three sources: subscriptions to more than 20 proprietary market research databases, special GIS mapping software licensed by ASBTDC, and the wide range of academic resources we have access to as a university-based program.
Following where the research leads takes practice. Your ASBTDC consultant will help you apply the data strategically.
Our research is available at no charge to for-profit small businesses in Arkansas.