If you own a small business, or are planning to open one, properly marketing your business will have a direct impact on how successful you’ll be. It’s not enough to open your doors for business and assume people will come. No matter how great your products, services, or prices, without a good grasp of marketing basics, your business will not enjoy the success you hope for.

One of the most fundamental components of successful marketing is knowing, understanding, and supplying your customers’ wants and needs. To do this, you need to know who your prospective customer is and what they’re likely to be looking for. A mistake 90% of small business owners make is not having a plan for their marketing efforts.

Marketing Basics You Need to Know

1.      Who are you? Before you begin any marketing campaign, as a small business owner, it’s important to decide on a branding identity, how you will set yourself apart from your competition. Domino’s Pizza branded themselves by guaranteeing delivery within 30 minutes or your pizza was free. This bold claim set them apart from other pizza companies. Decide what’s unique about your business; what makes it memorable and distinct.

2.      Who are your customers? Decide who your ideal customer is – and don’t say ‘everybody’. There’s an old saying in marketing, “If you try to sell to everyone, you’ll wind up selling to no one.” If you’re Wal-Mart or Target, maybe you can sell to everyone, but as a small business owner, you need a more narrowly targeted market. The more defined your target market, the more effectively you can market to them.

3.      Why do customers buy? One of the basic concepts in ‘Marketing 101’ is that most people buy based on emotion, not logic, or reason. Tap into their emotions and sales will increase. Always remember the number one question in your customer’s mind will always be, “What’s in it for me?” Make sure you answer that question in all your marketing efforts.

4.      What marketing plan will you follow? If you have any marketing plan at all you’ll be ahead of most of your competition. Decide on several marketing techniques you want to use, then test each one to determine the most effective for your customers. Do they respond better to postcards with discount offers or do newspaper ads bring in more business? Be open minded, flexible, and creative in your marketing efforts. Focus on the benefits to your customers and you can be sure your business will flourish.

5.      Do you have an internet presence? In this day and age, it’s foolish to be in business of any sort without a website. People now go to the internet before they look to the yellow pages whenever they’re seeking a product or service. Having a website online is one of the best marketing techniques you can use. Not only does it allow people to easily find you locally, it offers the possibility of unlimited reach and growth potential for your business.