Now you are just about ready to get business cards, mail out the flyers, turn on the phones, run those ads on Facebook and use whatever way possible to tell the world you are “Open for Business.” It is a moment of both joy and fear. The hard work of the planning your business now transitions to the even harder work of running the business. The opportunity to fail is always present. It is okay to look over your shoulder and pay attention to fundementals.
What do you need to do to have a great opening? A sales strategy and an a marketing plan to support it!
As you move closer to opening day of your business deciding the best way to let the world know about your new company is critical to your success. One way to decide the best strategy is to take a hard look at your competition. Examine what they are doing, and how you can top it. Fortunately, there are many options for communicating with your target customers (Some are more expensive than others.) Many effective communications techniques include; social networking, internet advertising, community tabloids, sampling, and local newspapers. Regardless of the target customer selected to focus on, your marketing activities should do three things:
(1) Gain attention and interest,
(2) Inform and/or persuade,
(3) Eventually lead to a purchase or other desired action.
Consider these marketing tactics:
Claim Your Social Media Profiles
- Advantages
Mobile advertising is increasing significantly. The rise in geo-specific social networking is increasing in popularity. You want to make sure that you protect your brand on the big four social media sites (Google +, Facebook Fan Page, Twitter and LinkedIn)and claim all of the relevant geolocation profiles too such as Google Places, Facebook Places, Foursquare, etc.
- Disadvantages
There are none. Social networking accounts are free. You pay with your time, so be strategic.
Consider internet advertising or pay per click ads (PPC).
- Advantages
Facebook Ads and Google ad words are the most common internet advertising. These ads can be low cost or expensive, but you can give yourself a weekly budget and control what you are spending per click. The customer is typically looking for what you are selling. It can be fairly low cost to start and can be tailored to highly specialized products and services. You can reach people when they are actively looking for information about your products and services online, and send targeted visitors directly to what you are offering. Search engines like Google, BING, Yahoo and others can provide some in depth information on how to set up your ads and even how to open an online store.
- Disadvantages
Costs can be related directly to the number of people who click on your ad. Competing with more established businesses can be frustrating and costly venture for small business too. With many businesses selling the same products and services, certain key words can be significantly more expensive. Small business may not have the resources to pay for paid directory inclusion, pay per click ads often have to rely solely on search engine optimization or word of mouth to drive traffic to their sites.
Direct Mail: Direct mail is still an effective way to get more customers.
- Advantages
If you send a bulky mailer, an odd-shaped package, you will pique their curiosity and urge them to open it. You can include a promotional gift in your bulky mailer that ties into your campaign. Be sure that your mail piece is relevant and include basic personalization: Make sure that the information in your contact management system is up to date and that you personalize every mailer.
- Disadvantages
It’s expensive for postage and the printed materials and you must make sure that you have a quality mailing list.
Publish shopper ads in free tabloids. Many are distributed locally through mailings, or in shopping malls and other outlets.
- Advantages
Low cost, targeted geographic distribution.
- Disadvantages
Ad clutter — because of the size and the number of ads, some of which will be your direct competitors, could make it difficult for your products/services to stand out in this type of publication. It is often discarded because it is free and considered “junk”. It may not be ideal for your target demographic — teenagers for example.
Consider donating your product or service to a community group of potential customers.
- Advantages
Recently, a neighbor of mine who sells cosmetic products to women in their homes, was featured in a local publication for donating products to veterans from Iraq. She appeared on the front page and was recognized by the publication for her outstanding commitment to our troops. As a side benefit, she also got some serious recognition for her business and some new customers!
- Disadvantages
Virtually, none if you can afford to donate products or services. Nothing prevents a business from earning PR, while doing good and doing well at the same time.
Place classified ads in local community newspapers or newsletters.
- Advantages
Its primary advantage is flexibility because advertising can vary from one locale to the next. In a typical location, a single local newspaper can reach up to 50% of all homes and apartments and unlike radio or TV, readers can go back and refer to an ad of interest. Start your campaign with small test ads and gradually expand as they prove effective. If you have a line of items, feature the one or two that you think will have the most customer interest or show a big per cent off sale or significant dollar reduction off regular price. Just take a look at today’s paper to see what might make sense for your business.
- Disadvantages
The readership of newspapers is going down. Newspapers have a short life-span, hasty reading, and relatively poor reproduction quality. Newspapers also have to struggle to get through the “clutter” of other advertising media like direct mail, magazines, the internet and others. Costs can also be an issue — shop carefully for the size ad that you need and see if any demographic information is available so that you can target your ad to the audience with the best chance for sales.
Finally, the most effective communication, especially if your business is retail or service based is word-of-mouth referrals. If you are known by reputation, for example, to be an excellent car mechanic and you decide to open your own shop, there is a pretty good chance that you have a “following.” Customers who will want your services just based on the quality of your work. This is something you often see with beauty and barber shops announcing a new operator in the local paper or sometimes a car dealership announcing a new salesperson who used to be at a competitors’ location.
The main focus of this article is to help you create public excitement around your enterprise. Building a better mousetrap is great but unless you tell someone, that mousetrap is available your product or service may lie in obscurity, unsold. Your message must convey the enthusiasm that you bring to the table — if you are fired up, always talking about your business, your enterprise is destined for success!
Do you have any opening day marketing tips to share?
Melinda F. Emerson, known to many as SmallBizLady is one of America’s leading small business experts. As a seasoned entrepreneur, professional speaker, and small business coach, she develops audio, video and written content to fulfill her mission to end small business failure. As CEO of Quintessence Multimedia, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing. Forbes Magazine named her #1 woman for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog http://www.succeedasyourownboss.com Melinda is also bestseller author of Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works.
My name is mk makhehlane my dream is to buld my business big doing music,event and marketing.
Thank you for the great advice Melinda. I’m actually running for office and I’m doing my campaign kickoff tonight. The information you provided,especially the advice on having a sales strategy and a marketing plan to support it, is certainly applicable and has been helpful in helping me create the goals for my event tonight.