A Message From Our Director – March 2017

As you probably know, your business success depends largely on marketing. People won’t patronize your business if they don’t know about it, right? The marketing umbrella covers market research, advertising, public relations, promotions and sales.  Your business may offer the best products or services in your industry, but without marketing, your potential customers would not know about them. Without marketing, your sales may crash and the longevity of your business may be at risk.

You know your products and/or services.  You know your target customer, and you know your price points.  Know where to sell to maximize your marketing effectiveness. Younger customers are more likely to shop using a smartphone, shop on a website, and pay with PayPal or a credit card.  Older customers might prefer to shop at retail outlets.  A marketing strategy helps you determine if a particular magazine, newspaper, radio station, social media site, or other website fits into your selling plans.  Advertise with a combination of media outlets to reach the maximum number of potential customers.

Steer yourself towards profits and business growth.  With a good marketing plan in place, you control your sales.  A good plan identifies specific goals for advertising efforts, explains sales to be expected, and estimates when results should be noticed.  Reaching measurable milestones indicates an effective marketing plan.  Based on results, you can determine to stick to certain sales strategies or revise your plan.

If you would like to talk with someone about creating or improving your marketing plan, the Chamber has resources available to you! Give us a call and we can get you set up, free of charge!  As always, if there is anything else we can do for you please don’t hesitate to ask!

5 Mistakes to Avoid When Starting a Business

business open

Are you thinking about bringing your new business plan to life? Did you recently present a grand opening event at your new local shop? While starting your first business, you are likely to make some mistakes during your new journey. How awesome would it be if you were informed about some of these possible mistakes so that you could avoid them? Here are five errors you can avoid just by knowing about them:

1. Not Thinking Through Your Business Name

As a new business owner it is important to make sure others in your industry aren’t using the same business name. Spend the necessary time to come up with a few memorable names and do your research. You want your business to appear at the top of search results, no one wants to find their business eight pages later on google. Your name should be classic, easy to spell and memorable.

2. Not Having A Website

Half of small businesses don’t invest in making a website. In this day and age, social media usage is growing more and more. Your business can’t afford to not have a website. Creating your own personal website can cost you a little to nothing. Search the web for template site builders (wix.com, weebly.com, or wordpress.com just to name a few) or simple content manage systems to start building your business website today. Now, you are probably wondering about the maintenance needed to run this business site of yours. A little ongoing effort can keep your website remaining relevant in search results and looking appealing for your clients.

3. Not Having A Business Plan

Do you think your little local business isn’t big enough to incorporate a business plan? If you answered yes, then you are wrong. Every business needs a business plan even if it is a two-page document outlining your goals. Over time you can refer to your business plan to ensure that you’re staying on track.

4. Not Marketing

So your business is booming after the grand opening, but that doesn’t mean stop marketing. Smart business owners market even when they don’t need it. Your business may be doing well right now, but in a few months that could change. The key with marketing, even when you don’t need it, is that it will ensure customers are coming to your business all year round. Remember to never use just one outlet to market your business.

5. Not Networking

Get out and meet new people! It’s easy to stay in the office and focus on business, especially if you are running a home-based business. Networking can possibly help you bring new customers to your business, but it can also connect you with others in your industry who can serve as a mentor.

Tip– There is always room to grow in your industry. Never stop learning and developing or it could be deadly for your business. Find new ways to be relevant to your audience and improve and expand your product line.

Kind Regards