“If You Build It, They Will Come”

As a publisher of a woman’s directory, I am constantly meeting with businesses and discussing their plan of action when marketing their business. Often I hear, “I didn’t budget for any marketing” or “I spent too much on something that didn’t work, so I am not spending at all.” It’s shocking to think that the title of this article is a popular notion among both fledgling and established businesses.

When meeting with a potential client, the first questions I ask are “Who is your perfect customer?” and “Where can they be found?” Often it takes a business owner a short while to think about how they will answer. The answer to these questions can help their business to embrace their most loyal demographic, spend advertising and marketing dollars wisely, and grow their business.

As we all know, word-of-mouth is the most powerful tool from which any business can benefit. If a friend or business acquaintance has “the best mechanic” or a wonderful referral for a contractor, we trust their opinion. Your referral is based on an intelligent and trustworthy source, who may have received that same referral from another reliable source. (On a personal note, both a gentleman who worked on our garage door and our home inspector have grown their businesses based on referrals from employees of one large company in Research Triangle Park.) However, if the product or service your business sells (or provides) is considered a luxury, or you simply feel that you could use “a little more business”—look to your clients. I hear of floral designers, pet sitters, bakeries that have almost more business than they can handle, solely based on word-of-mouth.

Word-of-mouth is a strong way to grow your business, but should be paired with a marketing plan for results that can be measured. Whether mailing postcards to the immediate surrounding area, sending customer appreciation letters to existing clients or advertising in a local neighborhood flyer, we are all looking for the perfect combination to keep our business fresh in the minds of our clients.

In creating your marketing plan, here are some basic questions that you need to ask yourself:

1. How would you describe your business?
2. What are the goals of your business? (Short and long-term)
3. Do you have a timeline for these goals?
4. What are the common traits that your best clients possess? What about your most difficult clients?
5. What type of client makes up your business? (e.g., Attorneys, Real Estate Agents, Moms)
6. How did each of these groups find you? (Location? Advertising?)
7. Is there a particular time of year they buy or don’t buy?
8. What feedback have you received about your business?
9. What type of marketing/advertising have you tried since the inception of your business?
10. Why did it work? Why did it fail?
11. What projects do you currently have in progress?
12. What will help you get these projects started/finished?

Answering the above questions can help create a plan to find your ideal clients and keep them coming back (and with their friends) for years to come.

Other concerns stem from the cost associated with implementing your plan to find these wonderful clients. Cost should be a major consideration, but keep in mind more than the price of the marketing itself. Marketing is an investment and could return some fantastic results. Consider your price points as a great starting place and ask yourself, “How much does a typical client spend? How often do they return?” Use the answers from the above questions when selecting the correct avenue for marketing your business. Also consider:

1. How long does it take to receive a response?
2. How often does program/marketing piece release? (Must be consistent)
3. What is distribution of this item?
4. How many consumers will view this piece?
5. How many targeted consumers will view this piece?
6. Has a similar business that you can consult with tried this avenue?
7. What is the shelf life of this piece?
8. What percentage increase in business do clients experience?
9. What is unique about this piece?
10. How does a competing piece measure up?
11. Does the cost have a measurable return on investment? (Using typical sales figures)

Making an educated decision on marketing can save you time and money. Conversely, it should be making you money! Once you’ve found your perfect venue, embrace it. If participating in a local publication, ask if there are any editorial pieces that you may offer as a contribution or if there are any discounts on any space that might need to be filled. Also, ask if there is a particular topic that will be discussed that applies to your business and if you can be placed near this editorial piece—just be sure doesn’t demean what you offer in any way.

I have heard the term “necessary evil” when it comes to marketing. I laugh when I hear that term, because it really sounds funny. It is necessary, but it should not be evil. We made the trip to the bank to fund our business, we hired architects, electricians, signage companies, contractors and established relationships and committed to spending tens of thousands of dollars with vendors; why not let people know you are open for business?