Inspired Series: Marketing your small business
This past weekend Entrepreneur Mom Now, Edmonton held it's forth event in the "Inspired Series." This months topic was marketing for your Small Business and we were fortunate enough to have three expert panelists teaching us all about marketing.
Here's a recap of some of the great nuggets of information we received from our panel!
- What's the difference between marketing and advertising? Advertising is just on tool in your marketing tool box. Marketing your business includes everything that you do to promote your brand whether it's social media or advertisements.
- When thinking about how best to market your brand, think about the four "P's": Product, Place, Price and Promotion
- Publicity is a great way to promote your business. Publicity doesn't just mean media, it also means word of mouth!
- The difference between an advertisement and publicity? An advertisement is where YOU tell people how great you are. Publicity is when other people say how great you are!
When deciding your marketing strategy
- Define who your business is and what makes your company different than everyone else.
- What is your budget
- Who are you trying to reach (your customers) and
- Where do your customers or potential customers hang out or get their information?
- Create a calendar of events that happen around the year and see how you can maximise sales in certain times of the year
- Print advertising has changed in the last 10 years. When deciding your advertising budget, look at the longevity of the advertising. Daily newspapers versus magazines. Magazines their is more longevity (they're a monthly publication). But, your customers may read the daily paper. Make a budget for these considerations.
When your budget is small
- Collaborate with business that have similar customers. If you're a makeup artists, collaborate and cross-promote with business that may need a make-up artist such as photographers, wedding/event planners.
- Network, network, and then more networking
- Look for publications where your customers are that don't cost a lot. Also ask for "contra" deals with publications.
- Ask to "guest blog" on blogs where your customers hang out
- Social media is effective if you're using it properly and schedule your time accordingly. Remember, your time is also important. Research which platform your customers are using and when they're using it.
Thank you to our speakers, Jenifer from City and Baby, Jessica from Bold Social Media and Publicity, Jennifer from the University of Alberta Museums, Shiann from Shilu Photography, Modern Mama, Alberta Women Entrepreneurs and Cafe Tiramisu