10 Marketing Reasons Why Small Businesses Fail in America
“Get on the bus, Gus,” I told a guy who asked me why he was battling to survive in the small business world. “What bus?” he asked. “It’s not the one Paul Simon sang about in Fifty Ways To Leave Your Lover,” I replied. “It’s the digital bus. The way of communicating information has changed, and you haven’t changed with it.”
If small businesses in America hope to hit a financial high note as Simon and Garfunkel did in the world of pop singing, it’s vital nowadays to communicate on the Internet. If they don’t, it will be one of the reasons their efforts end in discord.
The world of marketing has changed dramatically over the years. There is little point in having an excellent product to sell if few people know about it. Using the Internet is a great, effective and relatively inexpensive way to make sales, but it’s not the only way.
Small businesses can give out business cards, the owner can join a club and let other members know about his business, fix stickers on the back of his car, put pamphlets on bulletin boards and in the waiting room of his doctor’s surgery.
Window dressing, too, pays off. An attractive display in a shop’s front window is effective. So is word-of-mouth from satisfied customers. It is still important to do these things. The Internet isn’t the only way in which to sell your products. It’s not the Net Way Or The Highway.
However, many people use the Internet when deciding to buy something. They can search it and choose from an array of websites that sell the product they seek. They can see pictures of it, check the prices and make a purchase without leaving their house. Communicating effectively is key to all of this.
Another way to use the Internet is to embark on an e-mail campaign. Collect e-mail addresses and let customers and potential ones know about your latest products. I once wrote a book and mentioned the names of a few dozen people I knew in it. It was published as an e-book on top websites. I sent e-mails to all of those people telling them about the book. My message read: “I have published an e-book called ‘Foreign Devils’ and you are mentioned in it. Check Amazon books!” It paid off as several paid to read my book.
It is important to have a website on which you can advertise your products. You can create it yourself or pay professionals to do it for you. You will simply need a domain name and a host, which will allow people to access the site on their computers, iPads and mobile phones. It’s not expensive. If you create one yourself, you will need a domain name and a host. A domain name usually costs about $12 and hosting about $10 a month. The site will allow a business to tell viewers what they do and sell. The site can feature pictures of your products and potential customers can buy click and buy them. Open a Paypal account. It’s a cheap and easy way to receive payments. You can also post videos and stories on the site. People can contact you and comment by sending you e-mails.
Marketing is the name of the game. Use the social media such as FaceBook, Twitter, Linkedin, Xing, Renren, Google, Tumbir, YouTube, Instagram and Whatapp. Joining groups on FaceBook can pay off. Advertise your products on them. The same goes for all the social media websites. Cracking China’s Renren site would be a coup. Media mogul Rupert Murdoch has been trying to crack the China market for years. Why not? With 1.3 billion people, it’s one of the biggest markets in the world.
Content marketing is essential. Businesses large or small need to take a strategic marketing approach focused on creating and distributing their message to attract a clearly defined audience. If they do, they’ll get a profitable customer reaction.
If your business is currently on the back foot and you are wondering how to generate leads and sales, you may be failing to action items on this list.
- #1: Communicate in an effective and persuasive way.
- #2: Embark on an e-mail campaign to sell their products.
- #3: Use the social media such as FaceBook, Twitter, Instagram, Linedin to promote business.
- #4: Manage their content and distribute it in an effective and integrated way.
- #5: Create a website on which to feature your products and make sales.
- #6: Set competitive prices for their products.
- #7: Distribute pamphlets about their business in the area they live in.
- #8: Hold seminars to promote sales.
- #9: Keep in touch with customers on a regular basis.
- #10: Be imaginative and keep up with the latest trends.
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