Small Business Marketing Strategies

Small business marketing strategies identify and implement the goals of the company. A sound marketing strategy is inevitable for the success of any business. The strategy helps to focus the marketing on the business target. Small business marketing strategies include market research, identification of customer groups and target competitors and efforts to tailor the product pricing. The success of the strategy relies on the proper implementation of the formulated methods. It also judges the effectiveness of the marketing plan. Small businesses have unique marketing strategies to meet customer needs, while offering maximum profitability with minimum investment. Attractive marketing materials and ambient after sales support are also a part of small business marketing strategy.

Small business marketing strategies consist of three basic steps. They are increase the number of customers, increase the average transaction amount and increase the frequency of repurchase. They start with client problems and demonstrate methods to rectify it. This will help to build a network of clients. Consistent after sales support also enhances the popularity and credibility of the product. Marketing strategies also assess the profitability of an approach before actual promotion, to avoid the pitfalls.

Small business marketing strategies include various options to increase business revenue. They try to acquire more customers, sell more expensive products, come up with more profitable products and persuade each customer to buy more. The marketing strategy is developed according to the nature of the product or service. The business concern will tailor the product option according to the target group. Thus there are premier versions for those who choose expensive goods, comprehensive plans for profit seeking customers and a few basic products. The quality and reliability of products ultimately determine customer satisfaction.

Small businesses also introduce unique marketing strategies to differentiate a company from its competitors. Cause-related marketing is an attractive strategy that helps to gain customer loyalty and media coverage. The association with an organization helps to profit from the situation without much financial burden. Referral marketing is the most powerful, cost-effective marketing strategy. Promotions and offers intimated to the existing database through regular newsletters or mail alerts will help.

Small business marketing strategies are a summary of the goals of marketing plans. They provide guidelines and motivate companies to achieve a competent sales record.

How to Make Small Business Consulting Profitable

For a beginning, let’s ask ourselves the question: Is small business consulting profitable? The answer would be a resounding “Yes,” from all corners of the world. So, why are you unable to make it work, and in the process help small consulting with your unique experience and approaches?

You are a business consultant, not the direct worker

The most common mix-up faced by small consultants is that rather than remaining as business advisors, they end up as direct service providers. They end up handling the major workload of the business process where they were expected only to provide advice, and the client ends up with a steep bill. In place of mutual satisfaction, you now have mutual dissatisfaction. The results are unwelcome on both sides – but they happen all too often, where in small business consulting, the consultant fails to maintain the position of a consultant.

There are three possible outcomes in such situations – the client pays up and remains upset with you, the client doesn’t pay your bills and you are upset with the client, or both parties reach an unhappy compromise.

After a few such mix-ups, you become convinced that there is no profitability in consulting. But you know, that’s not true. The reality is your approach needs to be transparent and needs to change case by case.

In certain cases, time-schedule, lack of resources on part of the client, or other exigencies may call for you to provide most of the work as a direct service provider. But in such cases, the client needs to understand from the very beginning that the instant situation needs a service provider with your experience, more than it needs power of consulting. The client needs to have a clear idea of the bills that may be chalked up if you were providing direct service, or the client is free to hire another direct service provider, to save the day. Even providing that little advice is sufficient for you to bill as a consultant, because the client was unable to recognize the situation. What you are doing is business consulting, and not creating a fallible situation.

Why small business consulting mix-ups happen with such regularity

The oldest and most traditional businesses in providing consulting have traditionally modeled themselves as consultant-cum-service providers, take for example, law firms, or Accountant firms. Each of these sectors are used to clients coming to them at the last moment or when the situation is precarious for them, and according to the laws of maximizing business opportunities, they have set up systems to provide service alternatives ready at hand. In fact, in many such traditional firms, service delivery starts first, and then it turns to consulting.

However, in the era of information technology, the number of alternatives available even to small one are hundred times more than the time when CPAs or law firms began establishing their business models. Consequently, with the availability of greater choice of service providers, and ability to compare between alternatives, the chances of client dissatisfaction multiply. This is why, in today’s consulting, it is sufficient to point out the necessity of direct service delivery to a client, without embroiling yourself, or pushing your own agenda of direct service.

In a globalized service providing market, you can never outbid the “I’m cheaper than you can ever be” brigade, and don’t even think of that. To make small business consulting profitable, stick to your guns and be a consultant primarily, and act as direct service provider only when the client asks you, and only when you can afford to do so at the client’s rates.

Why 2013 Saw a Rise in Small Business Sales in California

If you are contemplating selling your business in the state of California, it may interest you to know that business sales for 2013 were up from 2012. Selling a business is a big and sometimes difficult decision. Even so, many business owners find this recent increase in sales to be quite comforting, especially if they want some security to know that there is a stronger market out there for selling. In fact, many potential buyers hope that these positive numbers will induce more businesses on the fence about listing their business will knowing that the market is in a healthier place for business sales in the state.

Small Business Sales Increase in California

The rate of small business sale has increased throughout the Golden State. In 2012, reports show that 14,368 small business operations were sold in total. In 2013, that number grew to 14,764 completed sale transactions. Of course, experts suggest that the increase may not be felt as substantially in some counties as others, which is typically to be expected, but that overall these good numbers reflect a new trend in upward sales that is likely to continue in 2014. Many factors appear to be linked to the increase, but one of the main reasons why these sales are going through is because buyers have better access to funding sources.

Sales in Large Counties Mixed

Some of California’s largest counties may not be feeling the increase yet, but that likelihood could change as more California businesses may be hitting the market for sale in 2014. Certainly, large counties like Los Angeles County are hoping to see more sales as a thriving business-for-sale market is a strong indication of an overall strong economy. Increased business sales are linked to better job growth too. The increase is doubly important in light of the fact that the state was losing businesses at a rate of about five percent.

What is Triggering the Rise?

While better access to money is at the heart of the increase, there may be other factors involved. For instance, experts believe that an improving house market as well as an improved stock market may also be supporting the increase in California business sales. Many small business owners also appeared to be waiting to list their business for sale in California until the market began to shape up.

Do You Have a California Business for Sale or Want to Buy One?

Increases or decreases aside, it can help the process of buying and selling to contract with a business broker. Their services can help viable buyers and sellers to sync up more quickly and effectively. Business brokers stay current with the sale market and understand the ins and outs of the buying and selling process. Their expertise can certainly impact the nature of the sale and the time frame in which a sale can be made. Contact a business broker if you plan to sell your California business or hope to purchase one.