More than anything else, marketing your business and your products effectively will make or break your company. Read that again.
If you are not able to attract prospects to your offerings, whatever they are, you won't be able to generate income and your business will die.
Too often I hear online business owners saying something like, "I don't like to sell, I just want to develop my products" or "My products are great and they will sell themselves."
There is no more important function or role for a solo business owner than becoming a great marketer.
Yes, in large corporations there are entire departments filled with hundreds of marketing professionals. These companies have sales forces that rival small armies and budgets to keep them busy with constant referrals.
But in your solo business, you are the marketing guru, the "Lone Ranger" that must save the day. If you don't understand this responsibility and take it seriously, you're likely to become the Captain of the Titanic steering toward your eventual demise.
If you want your company to look professional and to be taken seriously, you must do the following:
1. Develop a thorough marketing plan. I didn't say that it needed to be long or wordy. But you need to have a document that spells out how you plan to market yourself and your products.
At this point you are developing a strategy, a game plan for the first 1-3 years of business. It may not be perfect, it will undoubtedly need refining and modification, but you must have a well-conceived approach and a plan based upon market realities. We'll delve into the details of the marketing plan later.
2. Do continual market research in your niche. I am amazed at the number of business owners that admit they don't do any special research into the supply and demand of their market.
How else will you know and understand who your prospects are, how many there are, exactly what they want, what they're willing to pay to get it, how they can be contacted (found), and when their preferences change?
There are a host of companies and resource sites online that will help you to do market research. That ought to be the first place solo businesses look for research help and guidance. Even though you probably can't afford to hire a firm to assist you, there are still lots of things you can do on your own to get a handle on the makeup and preferences of your customers.
3. Be a student of the latest trends and developments in your niche. Join community web sites in your field and participate in active discussions and forums.
"Keep your ear to the ground" as the saying goes, so you'll be alerted to the current news and latest developments in your field. Subscribe to industry journals, trade publications, and join membership sites that will help you to identify specific trends and happenings.
Ride the leading edge of the wave in your niche - that is where all the action is and where you'll be paid the most for your specific knowledge and insight. That is also where you'll be able to recognize early opportunities for new products afforded by maturing technologies and changes in market preferences.
4. Market yourself and your business in everything you do. Don't miss even one small opportunity to get your message in front of the market. Put your logo and slogan on every piece of paper you send out and every page of your web site.
Put them in your ads, your business cards and your letterhead. Put them on your packaging, your invoices and receipts.
Online there are a million ways to market your business. We'll discuss the details another time; just be sure you consciously seek out opportunities to put your business in the spotlight and tell your story whenever you can.
5. Encourage others to help you with your marketing. There are lots of ways to do this: employ affiliates or associates and pay them to sell your products and services.
Write articles and blog posts that others can display in directories or on their sites that link back to your business. Participate in forums, discussions, and chats and give incentives to those who will spread the word about your products.
Ask your current customers for referrals that you can contact. Get creative and leverage your time and effort by spreading the word to others about what you have to offer.
