Effective Marketing Is the Key
First let us define effective, you could be advertising in this magazine and that publication and getting many customers but if the amount of profit you make does not cover your advertising costs and manpower expenses then it is not effective.
To be effective, expenditure needs to generate profit or have a good chance of generating profit. Any advertising is a gamble but you need to do a few things to swing the odds in your favour.
Know your customer
Like the hunter, you need to know your target. Define who your average customer is. You need to get as much information as you can, age, sex, and economic status is a good start. Anything that is applicable to why they would buy your product or service.
Once you have all this information you can then devise where to advertise and market yourself. Try to make this list of traits of your average consumer as detailed as possible, the more detailed the more targeted you can make your advertising
Highly Targeted Advertising
Targeted marketing will convert more customers at a lower cost per sale. If you were selling accounting software then an accounting trade publication would be an ideal place to advertise with a higher chance of conversion then say a fishing magazine.
Online marketing is unique because it is the only form of advertising where the customer is actively looking for your product or services; this by definition makes every enquiry a qualified lead. This in my opinion is one of the best forms of marketing for some industries and can take a failing company and inject new customers quite rapidly. However, you do need a good SEO company to help you. As with offline marketing targeting is key, pick the wrong phrase to optimise your website for and it can be a big waste of time and money. A good Search engine optimisation company such as WebMoJo can do keyword research and discover the phrases that pay for you.
Keyword research is a tricky business if a key phrase is to broad then you will get lots of traffic but very few will convert. To specific and you may not get a lot of traffic but the ones you do get will be highly targeted and more likely to convert.
Pay Per Click Marketing
Pay per click is a quick but costly fix; you can have targeted visitors to your website within a very short space of time. How it works is you will bid on keywords or phrases that appear at the side panel of the main search engines such as Google and Yahoo. The more you bid the higher up the list of sponsored results you will be. This can work for some businesses quite well but you need to do your keyword research
Marketing for the small business means targeting
As you can probably see one thing that runs through most marketing on a budget is targeting. The more targeted a marketing campaign is, then the more chance of gaining new customers.
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