There is never enough money to do everything desirable to build the business. Often a budget permits a little promotion, advertising, or public relations, but not all three at the same time. Start by constructing a positioning statement for your business, which expresses the key points you’ll include in all promotion, advertising and public relation programs. Then set your marketing budget, and make choices among your marketing options.
Positioning Your Business
Positioning is adding brand value to this collection of differences in the mind of the buyer. In other words, you must solve the problem of how t communicate a meaningful difference about your business idea to the people who are most interested in buying it.
Setting a Marketing Budget
Spending on marketing support ranges from less than 1 percent of net sales for industrial business-to-business operations, to 10 percent or more for companies marketing consumer packaged goods. Small businesses often estimate their sales revenue, cost-of-goods, overhead and salaries, as well as estimated gross profit. Anything left is considered available funds for marketing support. A more rational approach is to estimate what your direct competitions spend in marketing support and then try to at least match that amount.
Promotion Ideas
Once a small business has determined both its business positioning strategy and the size of the marketing budget, specific promotional activities can be selected. Promotion programs provide direct purchase incentives, in contrast to advertising, which provides reasons to buy your product instead of the competing brand.
Electronic Marketing
For a small business, the best use of telemarketing might be to call people you’ve been referred to by current clients or networking contacts. Look at telephone contact as a way of giving out information or keeping in touch, not a way to close a sale.
Public Relations
Public relations (PR) efforts, like advertising, can help to build business and product awareness among target buyers and end users, often at a fraction of the cost of advertising. PR can be an effective way to generate valuable word-of-mouth advertising, sometimes due to the greater credibility and availability of information provided in editorial articles and interviews with your company personnel.
Contact Us
If you have further inquires, please do not hesitate to contact Tannet at anytime, anywhere by simply visiting Tannet’s website english.tannet-group.com, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143422, or emailing to tannet-solution@hotmail.com. You are also welcome to visit our office situated in 16/F, Taiyangdao Bldg 2020,Dongmen Rd South, Luohu , Shenzhen, China.
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