Some business owners love to spend time strategizing and marketing, leaving the details to employees. Others simply don’t have the time to strategize, and therefore, they must implement marketing systems with maximum efficiency. Whatever they choose, business owners should be aware of the resources each type of system requires, and the results each type of system yields.
A recent study from Jane Out of the Box, an authority on female entrepreneurs, reveals there are five distinct types of women in business. Based on professional market research of more than 2,500 women in business, this study shows that each type of business owner has a unique approach to running a business and therefore each one has a unique combination of needs. This article outlines several considerations business owners should make, regardless of which type of business owner they are.
* Develop systematic, measurable marketing methods. Since every type of marketing requires a certain investment, a business owner will need to track any marketing she employs to know whether it’s worth the investment. For example, if she’s using Google “pay per click” to drive people to her web site, she should pay careful attention to how many people click on the ad that comes up with a certain combination of keywords. Is it producing at least the number of web site visits she desired? If an entrepreneur is using Twitter or Facebook to drive people to her site, she can keep track of how many of her followers or friends go directly from her tweets or her status updates to her site. These numbers indicate whether her efforts (financially and time-wise) are paying off.
* Determine exactly who the marketing will target, and which benefits this population seeks. In doing so, a business owner’s marketing will be as efficient as possible – so whatever resources she invests will produce a greater return. To easily and quickly determine her target market, a business owner can survey existing customers to find out why they chose the business and what they enjoy about working with the company. Meanwhile, business owners can gather testimonials from customers – this is a great tool for word of mouth marketing, and doesn’t require large investments of either time or money.
* Get clear on the business concept and business model. Boil it down. Being able to release a concise, powerful statement about the business concept defines exactly what the company offers and how it benefits clients. For example, an executive coach may say, “I coach professionals to help them earn a better profit and find a satisfactory work-life balance,” even if what she does is actually much more complicated or is completed in many more steps. Also, examine the business model to make sure it’s realistic to expect the business to make money.
* Get clear on the marketing message. If a business owner is feeling overwhelmed by the sheer volume of projects or clients, she should become very selective about to whom she is marketing her products or services so that she attracts a limited number of clients with whom she really wants to work – and therefore a limited number of very pleasant work hours. This will lead to a manageable workload of more enjoyable projects.
* Pair up with other entrepreneurs who offer similar or complementary services. Networking and affiliate marketing are inexpensive in terms of time and money, and provide opportunities for gaining new clients without much effort. By leveraging relationships with entrepreneurs who offer similar or complementary services, a business owner can successfully gain new clients. Similarly, by attending networking events with likeminded business owners, a business owner can get the word out about her own products and services, and can get advice from others in similar situations.
Marketing is one sure-fire way to grow a business. Depending on whether an entrepreneur wants fast growth, slow growth or maintenance, various marketing methods exist to meet various needs and desires.
About the Author:
Michele DeKinder-Smith is the founder of Jane out of the Box, an online resource dedicated to the women entrepreneur community. Discover more incredibly useful information for running a small business by taking the FREE Jane Types Assessment at Jane out of the Box. Offering networking and marketing opportunities, key resources and mentorship from successful women in business, Jane Out of the Box is online at www.janeoutofthebox.com
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