When starting a new business, you‚Äôll have to find ways to put yourself out into the economic void. You need to bring on clients and new money-making opportunities to survive as a new business. Otherwise, you‚Äôll find yourself, unfortunately, having to deal with your business languishing, or possibly failing in the long run. According to the United States Bureau of Labor Statistics, approximately 20% of new businesses fail during the first two years of being open. 45% of new businesses fail during the first five years, and 65% fail during the first 10 years.
There are a variety of reasons why new businesses fail, and poor marketing is one of the many shortcomings which contribute to a failed new enterprise. Fortunately, statistics also show that new businesses can be successful. More than 600,000 new businesses open each year in the United States, and about half of the country’s workforce, 47.5% are employed by such businesses. The dependence on small businesses shows how important these startups are to the United States economy. Though starting up your new business can be a difficult step, there are ways to ensure that you can find success. One way to do this is by having a sound marketing plan. Here are some tips on how to market your new business.
Carry business cards.
One easy and effective way to ensure that you’re constantly marketing your business is to carry business cards. Business cards are cards that include information about you and your company. These are usually shared during formal or informal opportunities that can be used to get your brand in front of people. These cards can give you a quick way to exchange information about yourself and your company. When you meet potential clients, vendors, and even employees, it helps to have such information on hand.
Let‚Äôs say that you run a business that provides product videography. Many of your potential clients are always seeking ways to get their brands out to potential customers. In case you possibly meet someone who needs video production services, you want to ensure that you have a business card available. The great thing about the business card, also, is that you can include a web link that will direct potential clients to a portfolio of your video production work. Business cards are one way of marketing your business.
Network as much as possible.
Another key way of marketing your business is to network as much as you can. You can do this online or in person. Whether you decide to go to a mixer where you can meet members of the community you’re attempting to cater to, or if you attend an online event where you can display your services in a virtual medium, networking is a great way to market your new business.
You want to grow your network of people that you‚Äôll be dealing with even before you open your business. This will help you to hit the ground running when your business takes off, allowing you to depend on those individuals you‚Äôve already established contact with. Let‚Äôs say you run a smart photo business. You offer a digital service that acts as a personal cloud for a person‚Äôs photos and videos. Further features that come with such a service might include a smart photo manager, a way to connect for a user to upload photos directly to a social media channel, and a way to better organize individual photos.
With this service, you‚Äôd want to network with professional photographers/videographers, or even photo and videographer enthusiasts. The goal is to get in front of the people who you need to cater to and let them know that you exist. When you network, you maximize the chances of your marketing hitting the right groups of people.
Try to use free promotional tools.
Starting a new business can be extremely costly, emptying your pockets on a variety of fronts. In cases like this, it‚Äôs a good idea to try to find whatever free marketing options you can. Utilize marketing tools that cost nothing, but can also help to get yourself out in front of potential customers or clients. You should only commit to paid marketing tools if you know that they might have a significant effect on improving your existing operations and performance.
For example, let‚Äôs say that you‚Äôve applied for one of many franchise revenue loans that are offered to new businesses. If you‚Äôre approved for the loan, the bulk of this is going to be used for paying your new staff, start-up costs, renting or buying a building for your businesses, and numerous other pricey things. You‚Äôll have to begin pinching pennies as much as possible, so you can survive. One way that you can help to save money, even more, is to utilize free promotional tools.
Some of these include creating a website for your business, blogging about your business, social media promotion, email marketing, and digital word of mouth campaigns. The more you utilize these free methods, the more your customer reach can grow. Going the free route is a good step to take to market your new business.
Hire a great social networking team.
A lot of people in our digitally active times encounter marketing via the internet. Ranging from social media posts by social media managers to full out marketing campaigns, people in the United States are exposed to approximately 4,000 to 10,000 ads each day. Those are impressive numbers for a business owner seeking a way to market their product to a large group of people.
Hiring a talented social media manager or social media team is a great way to reach people. Tapping into the millions of people who utilize social media channels like TikTok, Facebook, Instagram, Linked In, Google+, Pinterest, and Twitter can help to get your business in front of the right group of people. Have your social media manager or team create a business account, and then have them pull the trigger on this newfound method of marketing your business.
Good marketing is never easy, but with these tips, you can start building a name for your new business effectively.