As a small business owner, you most likely spend quite a large amount of time trying to discern new ways to gain customers. Marketing can be a fun or stressful business. They key is to understand the types of marketing.
Instead of sending your marketing budget in many different directions, you can choose a specific type and be consistent with it. You will quickly see that your marketing budget pays off much more quickly.
Here, you will find information on four of the main types of marketing. This way, you will be able to choose the marketing actions that will work best for your business. You will then be able to point your marketing budget in the right direction.
1. Blanket marketing is a type that is often used by larger business. Blanket marketing means that you spend money advertising to everyone. Many people choose to do blanket marketing by advertising in magazines or newspapers. You will not really have control of who sees your advertising, but you will have the potential to reach many people.
2. Targeted marketing is a method in which you choose a certain demographic and only market to them. This could mean that you advertise to everyone in a certain area. Alternatively, you could advertise to everyone in a certain age range.
3. Social media marketing could be called the new kid in town since it is relatively a young concept. With this marketing, you use any one of the many popular social media sites to advertise your company. You can also use a daily blog to garner business.
4. The last type of marketing is not marketing at all. There are not upsides to this. It may seem like a way to save money, but when your business fails, you will actually lose a great deal of money. It is extremely important to find marketing funds within your budget.
One Response to “Four Types of Marketing For Small Businesses”
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September 23rd, 2009 at 5:24 am
Sadly, most small businesses take the #4 approach and do not market at all, or not nearly enough.
All marketing should be undertaken with the bottom line in mind – meaning that you MUST be able to track the effectiveness of every marketing effort you make.
This can be as simple as directing people to a specific website, telephone number of to “clip this coupon” when they come to your store.
Knowing your marketing ROI is key to business survival.
Paul