Small Business Marketing Tips and Ideas

Wearing too many hats prevents solo business owners from expanding, according to a new study.

I just read a nice little article on Inc.com that describes the plight of so many small businesses. The article is entitled Sole Proprietors Struggle to Generate New Business. It states that more than a third of sole proprietors surveyed say their greatest challenge is finding the time and resources to generate new business.

The challenges discussed in this article define in large part why I decided to become a marketing coach back in 2003.

Here are a few of my thoughts on what I read. The text in quotes is from the article, and then my comments follow.

"...greatest challenge is finding the time and resources to generate new business..."

Let me just be real blunt about this. If you are a solo practitioner or a small business owner then you need to accept the fact that your part-time business is marketing. Without marketing you do not attract customers. And without customers you do not have a business.

As a small business owner or independent professional, you must commit to and schedule regular and consistent time for marketing. Marketing is all about generating a constant supply of high-quality leads that you can go to work on converting into clients. The ability to consistently generate leads is the lifeblood of your business. So I wonder why so many small business owners aren't willing to commit consistent time and effort to this most vital function.

"If they could afford thier first hire, 28% of respondents said they would delegate marketing tasks..."

Even if you're going to hire or outsource your marketing you still need to be involved in the process. As an independent professional or business owner, you set the tone. Pushing the marketing responsibility off to someone else won't be successful until you have set out a clear purpose and vision. You need to be intimately involved in defining the target niche, your strategic uniqueness, your value proposition, and your core marketing message.

I know it may sound self-serving, but that's what a marketing coach can do for you. One of my favorite quotes that I have posted right by my desk is, "In business for yourself, not by yourself." The greatest investment you can make in your business success is in yourself. You don't have to go it alone.

November 13, 2006 10:33 - How Is Your Marketing Energy?

You want to get results from your business networking? Next time take some marketing energy with you.

How's the marketing energy in your small business? For lots of small business owners and professional service providers it not very high energy.

I was leading a CBN Orientation Seminar the other day and I noticed a real lack of energy from many of the participants. It got me thinking just how many times I've been to some kind of networking event and seen small business folks not bring any marketing energy with them.

It's a borrowed phrase from my new favorite book, Secrets of the Millionaire Mind - Everything is Energy. So if you want to have more money, or more business success, or more happiness, or better health, then you have to have more ENERGY.

I meet with so many small business owners and professional service providers who say they really love what they do for a living. But just watching them at business networking events you'd never guess it. It's amazing how many small business folks just don't bring any marketing energy with them to the networking events they attend.

If you have a passion and commitment for making a difference and an impact in your target market, then let it come out in high energy fashion.

Another borrowed phrase from the Secrets of the Millionaire Mind book is "how you do anything is how you do everything." When you fail to bring your marketing energy to business networking events, or any of you marketing for that matter, you're sending a message that this is how you do everything. Doesn't just that little tid bit of information change the way you want to project yourself at your next business networking gathering?

Ever wonder why some people are better at networking than others? The people you know that you think are great networkers don't necessarily possess some gifts or talents that you don't possess. At first glance you may think they just have the "gift of gab" that you don't have. But, that's not what makes them better at networking.

I'd suggest it comes down to two primary things:

• Number one is that they've invested some time and energy in making themselves a little bit smarter about the art of business networking.

• Number two is that they've committed to bring marketing energy with them whenever they're out there.

So where is your marketing energy? Work on raising the level by really tapping into the passion and commitment you have for your business.

Higher marketing energy will lead you to greater marketing results. You'll find this to be true for your business networking and all of your marketing activity.

Give it a try and let me know what you notice!

November 20, 2006 09:14 - Lead Generation Is The Ultimate Goal Of Marketing

My favorite definition of marketing. "The use of strategies and tactics to generate a consistent supply of high-quality leads for your business." Notice this definition doesn't suggest generating a constant supply of new clients. Sales is the process of converting as many of your high-quality leads into clients and generating more revenue from them.

But, you see the marketing has to come first. You have to have a supply of high-quality leads before you can convert them into clients.

Notice the other important element of this definition of marketing that I use. It's generating a consistent supply of "high-quality leads" for your business. That's right; your marketing should only be focusing on generating high-quality leads, not just any kind of lead.

The fact of the matter is All Leads are Not Created Equal.

There is and always will be a lot more people or businesses that need your service than should ever become clients. If your marketing is generating more low to medium-quality leads than high-quality leads, then you need to go to work on improving your marketing.

Do you really want more mediocre and problem clients? When I ask a small business owner what they want to get from their marketing, one common answer might be to double or triple the amount of business and clients they're working with currently. I always have to caution them and make sure they're being clear about what they are saying.

Most businesses should not try to double their client database. They should only be focusing on trying to double approximately the top 20% of their client database. Let me clarify again... When I say the top 20%, I may not be talking about all the highest revenue generating clients. It's the clients that fit the best, most ideal client definition for your business. They are the best clients to work with. You get along great. They value what you bring to them, happily pay their invoices on time and probably even refer you to others.

You have defined and developed a profile for your best, most ideal clients haven't you? That same profile is key to helping you sort through leads to identify your best, most ideal prospects. Not all leads are created equal. Just like not all clients are created equal.

You don't need to invest a lot of your precious time chasing leads that won't make for good clients. But so many small businesses do it because they figure any revenue is better than no revenue. On the surface that may seem true, but the reality is that the more time you waste pursuing poor leads, the less time you have available to pursue your best, most ideal prospects.

Take a look at each of your lead generation activities - networking, direct mail, advertising, etc. If they are not producing a consistent flow of high-quality leads for your business, then you either need to change something or drop the lead generation tactic.

When you're clear about what makes for the best, most high-quality lead for your business, you'll begin attracting more of them. That focus alone will help you be a more productive marketer. You'll look at all of your lead generation activity and be willing to let go of the things that aren't producing the high-quality leads.

When you do that it frees up your mind and energy to pursue new activities that will generate that consistent supply of high-quality leads.