Marketing for New Businesses

You have a great business plan and you’re open for business. Whether you sell baked goods, offer your services as a landscaper, or have a retail store, your main goal is to find customers or clients. Marketing for new businesses such as email marketing, direct mail marketing, and other forms are an important aspect.

Marketing Plan. A vital first step is to write a detailed marketing plan. In it you will define what your product or service is and how you will sell it. Now, you may have touched on these points in your business plan. However, you should also separate the information from the business plan.

After you write the marketing plan, you will want to follow it exactly. If there are aspects of it that aren’t working out, you may need to revise and update it. In general, it is a good idea to update your marketing plan each quarter, or at the very least, once a year.

Email marketing. Email marketing is an essential tool, especially for home business owners. To execute email marketing successfully, you will need to have a website. Email marketing is similar to direct mail, only it is done electronically and doesn’t generate paper waste.

Your chances of success with email marketing increase if you get your names and email addresses from your own “opt-in” list. This means that people specifically request emails from you. Why would they do that? Because you have information that they want. This marketing strategy works best if you have a content driven website.

Grass roots marketing. This is a style of marketing that uses budget methods to market the business. Here, you can build your business using techniques such as word of mouth, classified ads, and business networking. Basically, anything that doesn’t cost a lot of money to execute is considered grass roots marketing.

Grass roots marketing is especially important for the new business owner because you can still get results on a limited budget. New business owners are often reluctant to spend money on marketing because they feel that their funds are better spent elsewhere. This type of marketing offers a happy medium

Assess your progress. After you execute any marketing plan it is important to assess your progress. Keep track of how many customers or sales you get as a result of one of your chosen marketing strategies. For example, if you do an email marketing program, log the nature of the email marketing and who you sent the emails to. Then, determine what the response rate was.

Once you assess your marketing progress, you can determine if your marketing plan is sound or if you need to revise it.