As a small business owner, you probably spend a lot of time trying to find new ways to acquire customers. Marketing can be a fun or stressful business. The key is to understand the types of marketing.
Instead of sending your marketing budget in many different directions, you can choose a specific type and be consistent with it. You will quickly see that your marketing budget is more profitable.
Here you’ll find information on four of the main types of marketing. This way, you can choose the marketing actions that will work best for your business. You can then direct your marketing budget in the right direction.
1. General marketing is a type often used by large companies. Global marketing means that you spend the money to advertise for everyone. Many people choose to do general marketing by advertising in magazines or newspapers. You won’t have much control over who sees your ad, but you will have the potential to reach lots of people.
The downside to general marketing is that it can be quite expensive and you risk wasting money marketing to people who might never become your customers. Global marketing is best for those who have a lot of funds available and feel that they will be able to gain many clients through the plan.
2. Targeted marketing is a method in which you choose a certain demographic and market only to them. It could mean that you are advertising to everyone in a certain area. Alternatively, you can advertise to everyone within a certain age range.
The benefit of targeted marketing is that you will have a much better chance of attracting customers because you will be advertising to the types of people who would likely become customers. The downside is that it will take a bit of work to figure out who your target is and then find the right way to advertise to them.
3. Social media marketing could be called the new kid on the block since it is a relatively young concept. With this marketing, you are using one of the many popular social media sites to promote your business. You can also use a daily blog to gain business.
The downside to this type of marketing is that you will be sending your information to a lot of people who might not be interested at all. With blogging, you will need to take the time to keep the blog up to date. Otherwise, people can stop reading it.
4. The last type of marketing is not marketing at all. There are no advantages to this. It may sound like a way to save money, but when your business fails you will actually lose a lot of money. It is extremely important to find marketing funds within your budget.