Don’t be Manhandled!!

Hello Everyone!

I practice and discuss this with prospects and clients every day so I found it very fitting, informative, and important to share as lack of these four M’s often lead to the demise of your business. Don’t let these four M’s Manhandle you!!

4 M’s of Small Business Marketing

By Melinda Emerson on February 4, 2013 in Branding & Marketing

Marketing is the engine of your small business. Without marketing you’re just someone with a shingle out hoping people with stop by your store, website or ring your phone. We all know hope is not a strategy. The essence of marketing starts with positioning your business as a solution for a specific niche customer. Once you have a detailed customer profile, you then develop ways to attract the attention of that customer. If you start by building a relationship without trying to sell, you can develop an intimate understanding of your customers’ needs. Your marketing plan is all about positioning your business as the best option to meet those needs. The only way to grow your small business is to keep growth as your #1 goal.

There are four main goals of marketing

  • Attract new customers
  • Sell more products to existing customers
  • Sell more expensive products to existing customers
  • Persuade your customers to refer you to additional customers

How do you do it?

Message: The story you tell about what you do is critical to the success of your small business.  Your message must be authentic and results driven.  Be careful not to make your message all about industry jargon; focus on a statement which will drive your target customer to ask more questions. For example, “I can fix any sales team in 90 days?” Now, you want to make sure that you don’t make a statement that comes across as hype or unbelievable, but don’t be afraid to stake you claim for how your business is the best solution for your target customer.

Market: One of most common business mistakes I see is: small businesses (with limited time and resources) trying to focus on too large a market.  Focus on a specific niche target customer. If everyone can use your product or service, no one will.  Work on being a specialist in your industry. You will be able to charge more, and you’ll not have to compete as often. I remember, when my company focused on video production we were going after a government contract to do a video for the U.S. Air Force, and I will never forget one of the firms competing with us was called Air Force Video Production. Needless to say, they won the contract hands down. When you are a specialist, it’s very hard for generalists to compete with you. Niche your business.

Method: How you communicate with your target audience is important. Social media is the most cost effective marketing tool, but you shouldn’t start with social media. Focus on your website first. Make sure it represents your brand well and that it is easy to do business with you. Invest in an email marketing program such as www.Mailchimp.com to keep in touch with your existing customers and prospects. Once you have your target customer identified, then you should figure out where that customer spends time online and be a part of the conversation.  Remember to “friendraise” first online. Build relationships first, then go for the sale.

Money: If you are not making money, you have an expensive hobby. You must make sure that you are pricing your products and services to make a profit.  Make sure there’s a percentage of your overhead and administrative costs factored into your pricing along with your labor, materials, and shipping.

If you make sure that your message is converting customers, that you understand what your market needs, are clear on the best methods to communicate with your target customers and are making money, your business will soar.

About Melinda Emerson

MeMelindaEmerson-blogshare020613piclinda 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. Her latest ebook, How To Become a Social Media Ninja; 101 Ways to Dominate Your Competition Online was released in 2012. View all posts by Melinda Emerson

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About thebradwayblog

I am the founder and principal partner of Bradway Partners, a Philadelphia-area business development firm. As principal partner, I am responsible for overseeing the day-to-day operations of the company, seeking new clients, and maintaining relationships with existing clients. I am equipped with over ten years of experience in the sales and marketing industry. Prior to founding Bradway Partners, I worked with leading companies in the medical and retail field. For nearly a decade, I have been helping companies grow their businesses, achieving considerable success even as the economy tumbled. During my time with various companies, I noticed a trend: Slow business wasn’t always necessarily a result of the economy but was often due to insufficient business development. Recognizing an opportunity, I decided to open my own business development firm. As founder and principal partner of Bradway Partners, I work with a wide range of clients to generate sales leads, design marketing plans, and conduct recruiting seminars. By outsourcing these tasks to Bradway Partners, companies are able to focus on their core business and client base. I earned a Bachelor of Science in Business Administration from University of Phoenix, and work tirelessly to stay current with the latest marketing trends and strategies, including social media platforms. My passion and drive has helped Bradway Partners achieve success in a short period of time, and I expect the firm to grow even further as more companies recognize the value of outsourcing business development

Posted on February 6, 2013, in BradwayBlogDaily and tagged , , , , . Bookmark the permalink. 2 Comments.

  1. Reblogged this on trumansonestopshop and commented:
    Very well thought out article on Marketing. Thanks!

    • Thank you for reblogging my blog. Look for some great blogs coming in the future! Would you care to be the guest blogger for the month of March? I premier one guest blogger a month.
      Have a great evening!

      Bradway Partners, LLC

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