Promoting Your Business
Promote or die!
No matter how good the product or service, and no matter how hard you work as a business owner; if you do not promote your business effectively and constantly it will fail to reach its potential. This is truer in today’s hyper-competitive and connected world than ever.
Develop your elevator pitch
The foundation of all your marketing efforts has to be a great pitch. Your ability to articulate who your business helps, what problem they solve and how, will have a large bearing on the success of your business. An elevator pitch is a short, sharp summary that tells the story of your business in 10-30 seconds only. It should be designed for maximum impact and recollection because you only get one opportunity to make that first impression.
With a great elevator pitch, you can expand into longer versions to suit the occasion.
A great elevator pitch should:
Have a predetermined goal – e.g. to influence specific people (clients or potential investors), to create general awareness, etc.
Be short – less is more – no details. It is designed to get your target audience to want to know more. Once they have expressed interest, then you can go into more depth.
Explain who you help – define your ideal customer as clearly as possible
Identify the problem you solve for them and very briefly how.
Communicate your unique competitive advantage – what makes you different?
Be practiced until it comes naturally.
So an example might run something like this:
At XYZ Co we help companies in the construction industry save on their training budget by delivering specialized compliance training programs via our mobile app. Unlike most other companies we also offer a range of specifically tailored programs that use real data scenarios from the client’s own business to create maximum learning benefits.
The idea is to position yourself so clearly in the mind of the person you are speaking to that they will be able to refer you to others who need your services.
Effective Ways to Promote Your Business
Some of the many channels available to promote your business include:
Networking can be a highly effective way to get your business known and to generate referrals. Business is first and foremost a human relationship activity; therefore networking in some shape or form should be part of your promotional strategy.
You can find a guide to effective networking here.
Content marketing online
Creating a blog or newsletter that you put out regularly is a great way to engage with your target audience. As part of a content marketing strategy, a piece of content such as tips and tools can be used across multiple platforms including your website, Facebook and other social media.
Producing content has 3 key benefits:
It creates value for your audience
It positions you as an authority
It helps you to get found by search engines
To be effective, your output needs to be consistent, so be sure to pick a frequency that you can deliver on regularly.
Other bloggers and influencers
Find out who the key players are in your field and engage with them. You can curate their content to your audience and potentially have them do the same for you.
Partners could include organizations that have access to your customers, e.g. if you are selling to doctors, hospitals and other medical facilities could be important partners. Develop strategies for approaching and engaging them, making sure that you have something of value to offer. You could also seek to attend meetings and conferences of associations and professional bodies that specialize in your target market.
Create an event
Consider creating an event that will appeal to your target group. To reduce costs, you could potentially align yourself with another business or businesses.
Develop your marketing assets
Marketing assets are the tools by which you engage your customers and promote your business. Assets can include:
Other social media
Brochures, folders & flyers
Point of sale – e.g. banners, posters, etc.
Promotional items – giveaways
When developing your marketing assets, consider which ones will work best in your specific market segment. Research what others are doing in your field and see what is working.