As a small business owner, you will most likely spend a great deal of time trying to figure out new ways to win over 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’ll quickly see that your marketing budget pays for itself much faster.
Here you will find information on four of the main types of marketing. In this way, you can choose the marketing actions that will work best for your business. Then you can steer your marketing budget in the right direction.
1. Generalized marketing is a type that is often used by large companies. General marketing means that you spend money on advertising for everyone. Many people choose to do general marketing by advertising in magazines or newspapers. You won’t really have control over who sees your advertising, but it will have the potential to reach a lot of people.
The downside to general marketing is that it can be quite expensive, and you could be wasting money marketing to people who may never become your customers. General marketing is best for those who have a lot of funds available and who feel that they will be able to gain a lot of clients from the plan.
2. Targeted marketing is a method where you choose a certain demographic and only market to them. This could mean that everyone in a certain area is advertised. Alternatively, you can advertise to everyone in a certain age range.
The great thing about targeted marketing is that you have a much better chance of getting customers, as you are advertising the kinds of people who are likely to become customers. The downside is that it will take a bit of groundwork to figure out who your target is, and then figure out the right way to advertise them.
3. Social media marketing could be called the new kid in town as it is a relatively young concept. With this marketing, you use any of the many popular social media sites to advertise your business. You can also use a daily blog to generate business.
The downside to this type of marketing is that it will send your information to many people who may not be interested at all. With blogging, you will have to take the time to keep the blog up to date. Otherwise, people may stop reading it.
4. The last type of marketing is not marketing at all. There are no advantages to this. It may seem like a way to save money, but when your business fails, you will actually lose a great deal of money. Finding marketing funds within your budget is extremely important.