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How to stretch your marketing dollars

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Every small business owner wants to have a marketing plan at the cheapest price possible. These business owners do not want to waste their money on something that is unneeded or on things that will not work. Instead what they want to do is make sure that every dollar that they are spending on marketing is well spent, but they also want to stretch that money as far as it goes.

Here are the steps you need to take to stretch your marketing dollars.

Step one:
To find the target group for your small business you are going to want to write down demographic data about your customers, which you are going to want to be as specific as possible. You will want to include such information as their age, marital status, education level, career, income level, where they live, what their hobbies are, movies that they like to watch, and anything else that is relevant. Basically you are going to want to include anything and everything that pertains to what you are looking for in the ideal customer because they are going to be your perfect customer.

Step two:
Now you will need to write down stuff that is related to your perfect customer's psychographics. In this section you are going to want to include things like lifestyle, social class, their political views, opinions on certain subjects, attitudes and beliefs and other things that are relevant to the way that your perfect customer thinks and lives. Some of the stuff in this category is going to overlap first area, such as social class, but in this category you will be expanding on that information.

Step three:
If your products are going to be sold to other business you are going to need to think about what kinds of industries you are going to be selling too, how many employees they have, where they are located, and anything else that you need to consider to sell to someone else's besides the general public.

Step four:
Now you will need to put all of the information together because all of this information is going to give you an idea of who your perfect customer is going to be. Once you have pictured your perfect customer you will be able to target your marketing to that group, which is going to save your small business both time and money.

Step five:
Finally you will need to figure different ways to find your target group of customers. This is going to have to be done through market research because you will need to gather all of the data needed, such as how different marketing techniques work and how they will apply to your target group.

Other tips/resources:

  • To make sure that your small business is able to stretch their marketing dollar you need to make sure that you are only marketing to your target group. The reason behind this is that if you are marketing to everybody then you are going to be wasting time and energy on people who have no interest in what you have to sell. But by marketing to your target group you are concentrating on a certain group that is interested in buying your product or who has a use for your product so you are saving time and money, which can be spent on others forms of marketing.

  • The best thing you can do to find your target market is to purchase direct mailing lists. These lists allow you to purchase the names and addresses of specific customers that you are looking for, based on information that you provide. These direct mailing lists are available from numerous locations.

  • You can also use questionnaires to help find your target group. Questionnaires are a great source of information because of the pointed questions you can ask and the various locations and techniques that you can use when handing out the questionnaires.

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