First, the bad news: the statistics on new business failure are pretty grim. About half by year five. Yikes. Think about that for a moment, but don’t panic. Because there is good news. The good news is that many experts (Forbes and Business Insider among them) cite a failure to understand and connect with customers as a top reason for a lack of success. And, while you can’t control macro shifts in the economy or really even market demand, you can fix this one.
Why does this matter, and what can you do about it?
Effective marketing is all about communicating your value proposition clearly to the right people. In order to do so you need to:
In other words, you need to know your customer.
But how?
As a small business, you probably don’t have the cash to hire a market research company or run a bunch of study groups. But you can talk to people. Here are some ideas of how to get to know your customer better:
Or
Then—and this may not be as obvious as it sounds—act on the information you receive. Your customers like to search for what they need? You probably should try search marketing. Your customers do a lot of business networking? LinkedIn and professional groups may make more sense.
Happy small business marketing!
Katie and Theron
At Urban Sherpa Marketing Co. we offer marketing advisory, strategic planning, and services for small business and startups, including content marketing. Our goal is to make high-quality marketing possible for every business, no matter the size. Think of us as your outsourced marketing department, strategic marketing adviser, or even your phone-a-friend marketing lifeline. We specialize in building efficient marketing programs to grow your business without blowing the bank.
Ready to learn more? Our initial consulations are always free.