15 December

Be Your Own Brand Ambassador: How to Market Your Small Business

Whether you’re just starting out or you’ve been in business for decades, it’s always a good time to review your marketing strategies to make sure you’re getting the best exposure possible. With ever-changing technological advances, small business marketing efforts can evolve quicker than you may imagine, rendering your entrepreneurship irrelevant or unseen rather quickly. With a few good business practices, however, you can stay on top of the changes and become your own brand ambassador, keeping your venture at the forefront of your market.

How to Market Your Small Business

According to Forbes.com, “Marketing is a concentrated effort to push your brand across a variety of platforms and hope that enough makes it through to your customer.” Often times, your business needs to be seen a number of times before it is truly recognized and converted to business, so the more you brand, the higher your chances of a successful effort. This is Marketing 101 and likely something most business owners are already aware of. So how do you convert this concept into something that stays current?

Becoming Your Own Brand Ambassador

The most important step to marketing your brand is organization and revision. This is the process of taking a look at what areas you are currently marketing your products and services and analyzing how they are performing. You’ll want to highlight areas that are working well – are customers bringing in mailed fliers or using certain promo codes you issued? These are things you’ll want to continue, or even tweak to keep things fresh. You’ll also want to note which areas aren’t bringing in the traffic you’d like to see so you can either rethink them and try a new angle or scratch the idea altogether. This process of reviewing what’s currently going on is one that should be repeated at least quarterly in order to stay relevant and give you the best response time.

Research Current Trends

If you want to stay relevant, you need to make sure your business is growing and moving along with technology and the digital age. Doing a little research will help you ensure you’re reaching the full extent of your client base with your marketing efforts. Take a look at what related businesses are using to promote their brand: are they pushing social media platforms or improving their mobile-friendly visibility? Also, take a look at more organic resources in your area that you could tap into. Is there an up-coming local festival or charity event you could sponsor or get involved with? These should give you ideas for what is trending currently and how you can adapt your branding efforts to match the trends.

Network, Network, Network

Let’s be honest here, of all the methods an entrepreneur can market their goods or services with, few compare to the benefits of networking. Networking is simply the act of getting out into your community and/or line of business and making connections with others. This is done by attending conferences, joining local organizations such as a Chamber of Commerce or utilizing communal work spaces, sponsoring related events, and just plain being seen. By doing this, you’re expanding the potential client base by bringing awareness to your business as well as giving yourself an essentially limitless pool of future connections.

Recap and Adapt

To recap, the best thing you can do to become your own brand ambassador and increase your bottom line is to review your efforts frequently, research what’s trending, and get out there and network in your community and trade. By keeping up with what is working, and changing what is not, you’ll be able to stay on top of marketing trends and boost your brand more effectively.

15 November

The Best Strategies to Increase Your Bottom Line

Whether you’re a new business owner or a veteran staple in your market, business owners share one major concern: how to increase their bottom line. Let’s face it, the point of being in business is to turn a profit, so naturally, finding ways to increase that profit would be a prime topic of discussion, yes?

Traditional Means

Many business owners are familiar with the concept of spending money to make money – it’s Business 101. More often than not, business owners need to invest funds into proper areas (marketing, staffing, office space, products and services are just a few of these) in order to boost their sales. These are considered the traditional means of boosting strategies, but they are not the only ways to achieve a bottom-line bump.

Non-Traditional Means

It may surprise you to know there are actually ways new business owners (and even veteran business owners) can improve their bottom line without spending a single dime. Yes, you read that right – there are ways to fatten your pockets without thinning them first. How? Let’s take a look at some of the lesser known, non-traditional means of increasing your bottom line.

The Best Strategies to Increase Your Bottom Line

“Getting over that seven-figure (revenue) hump is often an indicator that your business has longevity to it. But getting there can be tricky, stressful, and time-consuming,” writes Forbes.com.

Learning how to get to that pivotal revenue point boils down to initiating successful profit-boosting strategies. It’s also about minimizing the outflow of cash needed to implement these strategies since without minimization, the profit boost can be negated. Not to mention, it’s tough to let go of funds when you’re trying to increase them.

Tweak Your Online Marketing Strategies

One of the easiest ways to add to your profit margin is by pairing up with other local businesses or related products and services. Essentially, by including promoted products or reviews via a link inside your existing digital marketing strategies can bring about extra cash flow. How? It’s what’s described by Forbes as Affiliate Marketing and means that by utilizing links within your website for other products, your business can earn funds each time your customers follow the link.

Utilize Your Email Lists

Another completely free asset you can use to boost profits? Your email lists. As advanced as digital technology is today, it’s easy peasy to set up automatic emails to your customer base that will entice them to visit your site. Don’t let your customer contact lists sit dormant, use them to promote your business by way of sharing blog posts, upcoming events, and even set special VIP sales as appreciation for those on your current list.

Initialize Semi-Annual Audits

Simple as it sounds, one of the best ways to boost profit margins is by cutting your expenses. Make it a priority to go through your budget a few times a year and make sure you’re only sticking with the things you need for your business. If certain areas are no longer working, don’t be afraid to cut them before they eat up more of your existing budget. Also, be sure to take stock of all of your material items and products, to ensure you’re not continually pouring out funds for items that have very little benefit to you.

Overall, the best tricks you can utilize to keep increasing your profit are ones that make the most of your existing resources. Be sure to maximize your budget and audit yourself frequently, as well as continuing usage on all of your available (and free) assets.