The article under analysis dwells upon effective marketing strategies applicable for small businesses. The author provides ten tips which can help save money spent on advertising campaigns. It is possible to note that the major idea of the article is to make entrepreneurs understand that they should use appropriate marketing strategies instead of trying to adopt other businesses’ approaches and methods.
One of the most effective strategies provided by the author is paying partners on time. This helps develop a positive image among the existing partners (Bly). A lot of entrepreneurs ignore this aspect and think investing into marketing is more important than timely payments. Nonetheless, an appropriate image among partners is favorable for a business and positively affects its development.
Another important point provided is to get “maximum” out of materials available (Bly). This is a common mistake as lots of entrepreneurs think they need more materials and more new texts and images to promote their products. Therefore, lots of businesses accumulate numerous leaflets, posters, brochures, pictures and never use them. Admittedly, this is a waste of money and time as materials (especially texts and pictures) can be reused several times. There is no need to hire photographers, copywriters and marketing consultants to develop new materials if nothing brand new is produced. Entrepreneurs can slightly modify content they already have.
It is also important to consider hiring a full-time marketing manager or assistant. Bly notes that addressing consultants is often costly. Some entrepreneurs think they only need marketing assistant when a new product is produced or when a new marketing strategy is needed. However, the marketing manager or assistant is the person who creates new strategies and makes sure the strategies are implemented properly. This person also makes sure the strategies are efficient.
It is also stressed that entrepreneurs tend to adopt strategies used by other businesses. This is ineffective and can be harmful for a business. Bly emphasizes that different markets have different needs. This is an important point to remember. If a small business starts using strategies of a huge corporation, the former will soon go bankrupt. It is important to remember that small businesses have rather limited funds. Bly also reveals another common mistake entrepreneurs make. It is rather tempting to create an image of a successful and big business. However, the image of a company should be corresponding. Thus, clients may develop a distorted image of a business and the entrepreneur will be unable to meet their expectations, which will negatively affect the business.
Finally, Bly also provides a number of examples of using materials more effectively. The strategies provided are easy to implement and are very effective. Thus, lots of people fail to minimize their expenses and their marketing budgets are far too big. However, being more efficient, when it comes to marketing, will help business reduce their expenditure and become more competitive.
To sum up, it is possible to note that Bly provides a number of effective methods which can help make marketing more efficient. It is always rather difficult for small businesses to develop effective marketing strategies as they are often on a tight budget. Though, it is clear that marketing can be effective and inexpensive. The article in question helps entrepreneurs find new ways and fosters their creativity in developing marketing budgets.
Works Cited
Bly, Robert W. “10 Ways to Stretch Your Marketing Budget.” Entrepreneur, 2010. Web.