As a small business owner, you likely spend a great deal of time trying to figure out new ways to win customers. Marketing can be fun or stressful. The key is understanding the types of marketing.
Instead of sending your marketing budget in many different directions, you can choose one and stick with it. You’ll quickly see that your marketing budget pays off more quickly.
Here you will find information on the four main types of marketing. This way, you will be able to choose the marketing actions that will work best for your business. You will then be able to direct your marketing budget in the right direction.
1. Mass marketing is the type often used by large companies. Mass marketing means that you spend money on advertising for everyone. Many people choose to do mass marketing by advertising in magazines or newspapers. You won’t really have control over who sees your ads, but you will have the ability to reach many people.
The downside of mass marketing is that it can be very expensive, and you may waste money marketing to people who may never become your customers. Mass marketing is best for those who have a lot of money available and who feel they will be able to gain many clients from the plan.
2. Target marketing is a method where you choose a specific demographic and market to them only. This may mean that you are advertising to everyone in a particular area. Alternatively, you can advertise to everyone in a certain age group.
The great thing about target marketing is that you will have a much better chance of getting clients because you will be advertising the types of people who are most likely to become clients. The downside is that it will take a little bit of work to determine who your target is and then find the right way to advertise to them.
3. Social media marketing can be called the new kid in town because it is a relatively young concept. With this marketing, you can use any one of the many popular social media sites to advertise your company. You can also use a daily blog to gain business.
The downside to this type of marketing is that you will be sending your information to many people who may not be interested at all. With blogging, you will have to take the time to keep the blog up to date. Otherwise, people might stop reading it.
4. The last type of marketing is not marketing at all. There are no advantages to this. It may seem like a way to save money, but when your business fails, you will actually lose a great deal of money. It is very important to find marketing funds that are within your budget.