Top 10 Ways to Get Your Business Out There
Here’s a fun fact: every month roughly 550,000 people become an entrepreneur. You read that right. That’s hundreds of thousands of people a month starting their own business with hopes of being successful. Here’s a not so fun fact: 80% of entrepreneurs fail within the first 18 months. You know that one little building in your hometown that is always changing into a new business? One year it’s a bakery, the next year it’s a boutique and then, somehow it ends up becoming a mattress store. Sure, maybe I’m speaking from personal experience as a confused consumer but the point is, you don’t want to be one of those 8 out of 10.
According to Forbes, there are few major reasons why so many small businesses fail. However, most of them are linked to the inability to differentiate in the market and lack of real dialogue with your customers. It may seem like the odds are stacked against you, but if you’re reading this you’re already on the right track. Sometimes it may feel like you’re already doing backflips to keep your business running but now I’m going to give you some tips to help you get your company out there and stick the landing.
Know Your Market
1. Narrow Your Horizons
Knowing who you are as a business and the people you’re trying to reach is the maybe the most important step to owning a successful business. Too many companies try to reach too many people at once rather than focusing on their best prospects. The misconception to reach as many people as you can as often as you can is one of the major reasons why new business fail. The truth is the amount of work you could be putting into reaching a massive crowd would be better centered on a more effective communication strategy with the high potential customers. It might be a smaller group of people but successfully reaching your target market has a higher possibility for consistent business.
2. Size Up Your Competition
Something that a lot of new businesses tend to overlook is the benefit of knowing their competition. If you don’t know your competitor, you don’t know your business. And that is the opposite of winning. Do your research so you can know and understand your competition in order to differentiate and avoid becoming “just another” business.
3. Cross Promote
Joining forces with other credible business that reach your target market is a great way to gain new customers and spread your company name. This brings fresh eyes to your brand through a company they already trust and gives you the opportunity to expand your consumer base and (Bonus!) cut down on marketing costs.
The best way to know who your target audience is and what they want is to talk to them. Get on social media. Interact with them. And I don’t mean posting ads or making a thoughtful caption for your Facebook post. I mean create some dialogue. Comment on things you know your customers are interested in. Your customers need to know you care about more than their money. Have a conversation and build that trust.
5. Do Good Things
There’s an old saying that says you catch more flies with honey than with vinegar. I’ve never done an experiment that would prove this but that’s not the point. The point is more people will react to you in a more positive way if you’re friendly and helpful. Offering your help to other small businesses or associations creates a good name for yourself both as an individual and a businessperson.
Market Like You Mean It
6. Create Fire Marketing Tools
Before you become a business owner you need to have a business plan. And a major part of that plan is your marketing strategy. Make a list of the things you’ll need to reach your customers and spread your brand name. Think stationary, presentation tools, brochures – the things you’ll need to build your image and promote your brand.
This one is something that we all know. If you’ve ever asked someone for business advice, this is probably one of the things they mentioned. It’s one of the easiest things you can do to get your company name out there and meet more business-minded people who have the potential to boost your personal reputation and your brand name.
8. Establish Yourself As An Expert
Create a blog, or a newsletter and get your voice out there. Let people see you know what you’re talking about and you’re chances of obtaining their trust begins to rise. This also provides an opportunity for you to communicate with your target market and gather data on who is visiting your site. It’s a win-win.
9. Look Official
Of course, you want to present yourself in a professional manner both in person and on paper. Carry business cards, spruce up your signature block, and change your prank voicemail. The best way to bring in business is to be about your business and the details many people might overlook could make or break a customer’s opinion about you.
10. Get Local
We all have a home base. And each one of them plays a significant role in our success. As much as we would all like to believe it, we don’t become successful on our own. Getting the word out about your business in your hometown is another great first step for small business marketing and obtaining loyal customers.
Remember that statistic I mentioned earlier, about 80% of new entrepreneurs failing?
At Leading Lady PR, our goal is to see you achieve your goals and using any of these tips will help you settle into the successful 20%. With LLPR on your team, we can help you better understand your target audience and create an impactful brand image that will keep your company name out there.