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Small Business Marketing Plan | The Leaders Factory

Small Business Marketing Plan

If you own a small business in a city like Dallas, marketing is one of the most important activity, second only to providing your main product or service, and it requires that you, the owner, have an active role in markeing strategy and execution.

In normal market conditions cash is vital for small businesses, in recesive conditions financing options are limited and the primary source of cash is a steady flow of customers. Having a marketing strategy and disciplined execution is matter survival.

The marketing plan can have 2 approaches: Getting new customers or increasing the sales to existing customers. They are not mutually exclusive and can be worked at the same time.

Focus on new customers:
This is the most resource consuming approach. It can leverage free distribution platforms like blogs, social media and video marketing. Although the platform itself is free, the investment is mostly time to produce and distribute the content.

Focus on increasing sales:
This is perhaps the most overlooked approach and it’s very cost effective. In most cases involves sending an offer to your current customer base, creating a electronic newsletter or a podcast with relevant content for your audience. Take sometime to talk to your customers, know their frustrations and then, give them the solution.

There are excellent tools to market your business online, but keep in mind that they are only tools and will never replace a well thought marketing plan. Do not fall in the trap of making your plans fit the tools.

Offline marketing strategies in a city like Dallas can be also very cost effective. I strongly advise local business owners to get involved in networking groups, workshops and community activities as part of their marketing plan. The more value you provide to your community -online and offline- the more business will come your way.

Make a plan, set goals, take action!

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