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Marketing a small business can drain capital and leave the business owner frustrated. These five keys should be applied to any marketing campaign to ensure real success.

There is nothing more frustrating in promoting a small business than to spend thousands of dollars on an advertising promotion and get zero results. Not only is it frustrating, a few bad campaigns can put you out of business. Too often, public opinion is a moving target. Repeating what worked last year is no guarantee of success this year. Public opinion, the economy, political landscape, and local demographics are constantly shifting. Your marketing campaign must be carefully aimed at your true target audience for it to be successful. To help with that aim, consider the acronym, "AIM IT".

 

A - Awareness

 

No one is going to buy your product or visit your establishment unless they are aware it exists. Creating awareness is simple, but often costly. Major corporations can use television, billboards, or print advertising. Small businesses often rely on word of mouth, which is inexpensive but slow and unreliable. Door to door couponing, good signage in the proper location, and cooperative events with local schools or civic organization are fairly inexpensive but outstanding ways to create awareness in your community.

 

I - Interest

 

Not only is it critical that you make your target market aware of your presence, you must stimulate interest so they want your product or service. What is unique about your product or service? If you sell shoes, why are your shoes better, more stylish, or less expensive than others are?

 

M - Motivation

 

If you sell a luxury item or service, you may have less competition than something more commonplace like shoes, but you must create a strong desire in the mind and emotions of your target market. Luxury is about status and the feeling one has by owning your product or using your service.

 

I - Increase Usage

 

Once your new customer has found you, and become interested and motivated enough to buy from you, it is essential that you have a plan for repeat sales. If you sell multiple products, have programs in place such as newsletters or preferred customer incentives to get them to expand their purchases to new products. If you have a storefront, shift product displays around so they can see new items each time they visit. You paid a lot of money in advertising and marketing to get your new customer, a single sale may not even pay your customer acquisition cost.

 

T - Tell Others

 

Leverage your relationship with your new customers by encouraging them to spread the word. Referral incentives are popular but largely ineffective. They may even backfire, as some people feel tainted by financial motivation. It is more effective to make your customers feel they are part of a special community, and encourage them to invite people they know and like to join that community. Special remembrances, joint ventures with the organizations of which they are members, and public recognition are great ways to make your customers feel they are more than customers; they are family.

 

A successful marketing campaign is like hitting a very small moving target in a crowd of people that might just be a mirage. Your small business has a limited marketing budget. Make sure you "AIM IT" carefully.

Ed Wills is a franchise and small business startup consultant with WFA Franchise Consultants. He specializes in helping people identify business opportunities that will help them reach their personal and financial goals. He writes, speaks and coaches on a variety of business and success topics. Click here to sign up for his free online franchise business course. You can learn more about his services or request a free consultation at WFAFranchiseConsultants.com.

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