How to Start When Marketing Your Small Business

These crucial first steps can help you run successful campaigns on a tight budget.

So, you’re a small business owner who wants to market, but you're not sure how to make the most of the money you’ve set aside. I get it. Your expertise is in your business, not marketing. As someone who's joined SMBs as their first seasoned marketing professional, and who has developed advertising programs for household-name brands, I've seen firsthand the vast disparity in resources and information between companies of different sizes.

Big corporations make enormous investments in in-house talent and agency partners to usher them through the branding and growth marketing processes. But, as you’re likely painfully aware, entrepreneurs and sole proprietors often have to figure things out on their own or rely on people in their immediate network, who may only have marginally more experience than they do. Much of the time, they default to well-known tactics that can burn through time and budget without delivering results if they’re not utilized strategically.

The thing is, though, small businesses can undergo the same process that enterprise organizations do to create an effective strategy, without a huge investment. That’s why I started Local Spot Marketing. I’m on a mission to level the playing field by helping small businesses build top-quality, professional marketing programs.

To that end, I’ve outlined the best first steps to start marketing your small business. They’re the same first steps that major brands with marketing departments and agencies take. And, in fact, these efforts will equip you to make better business decisions across the board. What’s the secret? When it comes to marketing, knowledge is power. And it’s free.

In other words, if you have a comprehensive understanding of the conditions impacting your business, your messaging will have greater influence, and your dollars will work harder. Before you decide how to spend your budget, make sure you’ve given extensive thought to:

• The environment in which you’re operating

• The people who will find value in your product or service

• The identity that defines your brand

By creating a foundation built on these insights, you’ll be poised to succeed no matter what your marketing objectives are. This is because they’re the key to developing the most important aspect of any effective marketing program: a clear strategy.

Of course, all businesses are different, and every industry has its nuances. But the process for starting off on the right foot is always the same. Complete the following three steps to set yourself up for marketing success.

Step 1: Learn your marketplace in depth.

You may be launching a new business, or you may have been running the same business for decades. Either way, it’s important to be up to date on your industry’s landscape, which is constantly evolving. Knowing your marketplace allows you to determine how best to position your business within it.

First, research the trends happening in your space. What’s new? What’s holding steady? Is the industry growing or shrinking? What challenges and opportunities have emerged recently? Who are the customers, and have they been changing? A lot of this information can be found with the help of your favorite chatbot. Marketing may not be your area of expertise, but your industry is, so turn that professional eye outward to assess the happenings surrounding your business.

Then, deep dive into your competitors. You can do this by answering these questions:

• Who are they? This could include businesses that offer the same product or service, or it could be businesses in different categories that meet the same need for consumers.

• How many are out there vying for market share? Consider how this number measures up against the size of the customer base. Is there an oversaturation of your product or service? If so, you may need to carve out a niche. Or is there plenty of opportunity? If so, you’ll have to identify it to know how best to harness it.

• How is the competition priced compared to you? The answer may determine whether your messaging focuses on value or quality. And if you’re way out of range, you may need to consider changing it.

• What are the specifics of their offerings? Is there a need in the marketplace that only you fill (or could fill if you add a new product or service)?

• What are they communicating to their audience? You can find this from how they describe themselves on their website and the content they post on social media. Go ahead, sign up for their newsletter. What are they saying to differentiate themselves in the marketplace?

Once you’re versed in all of the external factors affecting your business, you are now in a better position to address them—or leverage them to your advantage.

Step 2: Get to Know Your Audience

Even novice marketers know you should define your audience. But the ways that you define it could be what gives you a leg up from your competitors. In our digital age, demographics are simply not enough. In fact, they may not even be relevant.

Now that you know your marketplace inside and out, you’re able to pinpoint who is most likely to gravitate to your business. Dig deep to understand them. To do this, you’ll need to pop on your amateur psychologist hat. If you’ve ever been a bartender, you have plenty of experience in this already.

Since you don’t have expensive consumer research subscriptions, find other sources. Ask for input from your regular customers. Send a survey to your email list. Read the reviews for all the businesses in your category. Scroll through what your followers are posting, commenting, and sharing on their socials.

Get a sense of:

• What is the mindset of your audience, both in general and as it relates to your category? Notice what makes them happy, as well as their frustrations.

• How do they interact with the world through media, content, events, etc.? In other words, where might you be able to show up that they will see you?

• What are their interests? Most ad platforms allow you to target by this trait.

• Why are they seeking a product or service like yours? What problem are they solving?

• How could they benefit from your business, both on practical and emotional levels?

• What values and outlooks do you share with them?

This step serves two purposes—to shape your message so it resonates with your audience, and to know when and where to reach your audience so they’ll be most receptive to that message.

Step 3: Develop Your Distinct Brand Identity

Your brand is so much more than the product or service you offer. It’s also your culture, your vision, your purpose, and your relationships. Beyond that, it’s an essence—that intangible but very real perception of what it represents.

Okay, that’s a lot, I know. But take a step back and start from the beginning. How do you define your business? What is its reason for existing in the world?

Do all the details of what your customers experience (the look, tone, product attributes, etc.) align with that definition?

Here’s an example: A new neighborhood bar opened up on my block a couple years ago. The owner wanted it to be a hip, speakeasy-like lounge, and they served high-priced cocktails. This would have suited the market, but the branding didn't match. Instead, there were TVs throughout the space with the volume always on loud, the stools were plastic, and the food menu was wings, fries, and the like. In other words, the place had an identity crisis. People who came in for the cocktails didn’t like the sports bar vibe, and the ones who came in for sports didn’t want fancy cocktails. The poor guy went out of business pretty quickly.

This is an extreme example, but it illustrates the point. You need to define what you are, and then you need to craft every detail to make sure that the people who encounter your brand understand exactly what that is. Your visuals and language need to strike that chord, and your messaging needs to speak directly to the people who will connect with it.

Beyond that, your brand needs to be unique and memorable. This requires uncovering what makes your business special. To find this, consider both the practical attributes of your offerings, as well as the emotional benefits they deliver to your customers. Make two lists, literally. Then, list your company's core values. What are its guiding principles that you have put your blood, sweat, and tears into incorporating into your everyday operations?

Now you have three lists. What picture do the items on them create when they're all combined? It’s a safe bet that you’ll have a fairly solid notion at this point.

Think about this picture in the context of your marketplace. Where does it fall? How does your identity help you stand out? What are the opportunities to differentiate yourself from the crowd?

Now think about your audience. Based on what you’ve learned about them, how does that picture fit into their lives in a positive way? What might they love about it? How might they see a bit of themselves in it?

This is your brand. It will take a little time to fine tune, and it will evolve as you think more about it, but you’ve captured the essence that will build affinity and loyalty. Once you go through this process, you'll realize that your business adds up to so much more than the sum of its parts.

This Is the Foundation for Your Marketing Strategy

Taken all together, this information is your secret weapon to developing a clear and effective marketing strategy that will:

• Break through clutter

• Resonate with your audience

• Communicate your brand in a memorable way

Your strategy will guide every marketing decision you make. You’ll evaluate creative assets, tactics, and target audiences through its lens to ensure it all aligns. This way, you can make sure the money you spend is being used efficiently, and that anytime a potential customer encounters your brand, whether organically or through paid efforts, it’s serving the best interest of your business.

Want help completing these steps, or turning what you’ve learned into a cohesive marketing strategy? I’ve got your back. Reach out to info@localspotmarketing.com to start a conversation!