Four Types of Marketing for Small Businesses
As a small business owner, chances are you spend a great deal of time trying to figure out new ways to win customers over. Marketing can be a fun or stressful business. The key is to understand the types of marketing.
Instead of sending your marketing budget in many different directions, you can choose a specific type and stick with it. You will quickly see that your marketing budget pays for itself much more quickly.
Here you will find information on four of the main types of marketing. In this way, you will be able to choose the marketing actions that will work best for your business. Then you can direct your marketing budget in the right direction.
1. General marketing is a type that is often used by larger companies. General marketing means you spend money on advertising for everyone. Many people choose to do general marketing by advertising in magazines or newspapers. You won’t really have control of who sees your ads, but you will have the potential to reach a lot of people.
The downside to general marketing is that it can be quite expensive and you could be wasting money marketing to people who may never become your customers. General marketing is best for those who have a lot of available funds and who feel they will be able to win a lot of customers with the plan.
2. Targeted marketing is a method where you choose a certain demographic and only market to them. This could mean that you advertise to everyone in a certain area. Alternatively, you can advertise to everyone in a certain age range.
The great thing about targeted marketing is that you’ll have a much better chance of getting customers, since you’ll be advertising to the types of people who are likely to become customers. The downside is that it will take a bit of legwork to figure out who your target is and then figure out the right way to advertise to them.
3. Social media marketing could be called the new kid in town since it’s a relatively young concept. With this marketing, you use any of the many popular social networking sites to advertise your company. You can also use a daily blog to get business.
The downside to this type of marketing is that it will send your information to a lot of people who may not be interested at all. With blogs, you will have to take the time to keep the blog up to date. Otherwise, people may stop reading it.
4. The last type of marketing is not marketing at all. There are no advantages in this. It may seem like a way to save money, but when your business fails, you will actually lose a great deal of money. It is extremely important to find marketing funds within your budget.