| SBA Statistics show that one of the top 7 reasons, | | | | Find cost effective ways to gain publicity |
| many small businesses fail within the first few years is | | | | There are a variety of ways to seek out free publicity, |
| due to lack of planning. As Raymond J. Keating, chief | | | | for which you don't necessarily need a public relations |
| economist with the Small Business and | | | | firm to execute. However, all free publicity requires a |
| Entrepreneurship Council, a nonprofit advocacy group | | | | lot of time and effort, it then becomes cost effective |
| told the New York Times "Some 60 to 80 percent of | | | | for you to outsource that responsibility. Small |
| new jobs come from small businesses, and more than | | | | businesses are often overwhelmed with keeping up |
| 50 percent of private sector gross domestic product is | | | | with their every day tasks and have little time to seek |
| created by small business." | | | | out free publicity opportunities. Besides leaving such a |
| Neither the importance of small businesses in the | | | | tedious but important task to the professionals frees |
| economy nor a good promotion strategy that works | | | | up time for you to do what you really enjoy: running |
| can be understated. "The reasoning is simple, if you | | | | your business. A statement that JD Baker & |
| can't get customers through the door, you will have no | | | | Associates' tagline "Because every business needs an |
| sales and eventually run out of business. No matter | | | | entourage," explains. |
| how much capital or strategically located you are. | | | | Use friends, family, word of mouth and referrals |
| None of that is important without patrons in your | | | | With technological advances, opportunities to connect |
| business." Said Sonya Baker, a business consultant | | | | with myriad of people have increased tremendously |
| with JD Baker & Associates, an Atlanta based | | | | compared to a decade ago. Social network Marketing |
| public relations firms that help small businesses | | | | is perhaps the most effective tool a small business has |
| increase their market visibility. How do you get | | | | at its discretion to generate a buzz about its business |
| customers and most importantly keep them?o Know | | | | products and services. Through viral marketing a small |
| you customers | | | | business can create a little message, pop it in the email, |
| Marketing 101- go back to the basics, figure out who | | | | send it a couple of friends who pass it on to ten more |
| your customers are, not who you want them to be. | | | | people. By lunchtime, people as far as India have heard |
| Customers would be those that have a need for your | | | | of your event or services. They might not be beating |
| product, otherwise your 'niche". Not all businesses can | | | | down your doors but at least they know. Research |
| be number one, but each business can compete by | | | | shows that people are more trusting of messages |
| differentiating themselves from competitors. | | | | received from someone they know versus a |
| 80-20 Marketing rule - says 80% of your business | | | | marketer. |
| comes from the 20% of your clients. Start focusing | | | | Take care of existing customers |
| your marketing attention on the 20% of your | | | | This is the crucial step that most entrepreneurs neglect |
| customers that do use your services. Once you know | | | | when it comes to drumming up business. They focus |
| your niche market's motivation for buying products, try | | | | too much on drawing new customers in, offering hefty |
| to anticipate their unmet needs. By fulfilling them you | | | | discounts and promotions. Even big companies such |
| will exceed your customer's expectations. | | | | as Comcast, ATT and other phone companies always |
| How to cultivate this important group of consumers? | | | | give away free phones and sometimes one- month |
| Attract them to your website or store location using | | | | service for free to customers who sign a 2-year |
| simple gimmicks like hosting a fan based event. Spread | | | | contract. What about existing customers? They can |
| the news with a newsletter. Say you know your | | | | provide you with leads and new business referrals. So |
| customers all love Elvis, promote an Elvis themed party | | | | once in a while, host a customer appreciation night, |
| or contest. Create a database of these customers, | | | | where they buy one item to get another one for free. |
| that way you will always be in touch with them.o | | | | You will also enjoy unlimited loyalty from them. |
| Forget about you, it's all about them. | | | | So what does a good promotion plan look like? |
| All your promotion efforts must be customer oriented, | | | | Though most promotion plans take a long time to |
| in other words listen to what they say, then deliver it. | | | | manifest into sales; it is important that your plan is |
| Stress only your product's benefits to them, not your | | | | measurable. Know where you are before you begin a |
| company history or how many people you've served. | | | | plan, so you will have a way to measure if your |
| As a business owner, you need to understand this. | | | | promotion plan is working or not. It also includes media |
| People are only interested in themselves, and | | | | readiness. Though this is not an event that occurs |
| therefore, only interested in what your product or | | | | regularly, but with a strong promotion plan that relies |
| service can do for them or how it can help them | | | | strongly on generating publicity; the event would not be |
| reach their goals. Save historical facts as a | | | | so out of the ordinary. When that opportunity knocks |
| backgrounder for your press kit. | | | | at your door, be ready to open it. |