The Top 5 Small Business Marketing Tips for Budget-Minded Business

When it comes to running a successful business, marketing is essential. For a small business, marketing often seems like a daunting task - especially when it comes to marketing your business on the web.
Many times, budget-minded business owners fear that small business marketing needs to be expensive in order to be effective. Fortunately - this isn't true. Here are five simple tips for small business owners who are looking to save dollars, while still running an effective online marketing campaign.
1. Optimize Your Website
There are three simple steps to take so that you can be sure that your website is working for you.
The first is to use a descriptive title for your site as well as keywords and a description that allows search engines and site visitors alike to know what they will find when they visit your web page. Once that's taken care of, make sure that you are placing keywords appropriately in the text of your website.
Your keywords should be specific to your products and services, and should be chosen with consideration for the terms prospective customers would use when searching with Google or Yahoo or whichever other search engine they use.
Finally, these keywords should also be used in the alt image tags as they relate to the photos and illustrations that you post to your website.
2. Market Your Website with Articles & Distribute Press Releases
Article marketing is an extremely effective way to draw visitors to your website. By creating an informative short article that relates to your business, your area of expertise and your keywords, you can show readers a bit more of what they'll find from your business - which you can link to in your resource box at the bottom of the article.
Online press releases are another effective marketing tool. Like conventional press releases that let local newswires pick up a story about a new staff member or a new product line, online press release distribution will allow you to get the word out to those who publish online newsletters or who review products and services like those that you offer.
Both articles and press releases published online create valuable, relevant inbound links to your website (via the link to your site in your resource box at the end of each article or press release). Search engines place a great amount of value on the number of inbound links you have to your site, so this is an excellent way of building popularity with the search engines, as well as your human customers.
Both article marketing and distributing press releases will enable you to establish yourself as an expert and your company as a source for products or services. Each is effective, and often, submission to article directories is free - that's right, free marketing for your business, all it takes is a little bit of time.
3. Start a Blog
It's a common statement when it comes to Internet marketing: content is king. A blog - short for a weblog - allows you to create fresh content at regular intervals, driving traffic and search engines to your website.
Like article marketing and press release distribution, having a blog allows you to establish your expertise about the products and services that your small business offers. Unlike article marketing and press release distribution, however, a blog allows you to begin to carry on a dialog with your current and prospective customers.
Your blog works like search engine magic for your website. By linking your blog to your website, you draw the search engines to your website. Your site will rank higher and your customers will have a much easier time finding your site.
4. Commit to a Link Building Campaign and Submit Your Site to Directories and Search Engines
As a small business owner building and promoting your business on the web, having quality inbound links is important. Links allow your site to be found by those who visit similar sites looking for the products and services that your company offers.
Links - like those at the end of your articles and press releases, like those that link back to individual products or services from within your blog, and like those from others who have purchased from you in the past - help to improve your site's search engine rank.
By submitting your business' website to relevant directories and even to industry-specific - niche - search engines, you'll begin to generate additional links. More importantly, however, these niche directories are increasingly used by those looking for very specific sites. Having your listing present will make it even more likely that your prospective customers will find your page; that makes them a particularly valuable marketing tool for your business, and, again, it's often free to submit your site.
5. Look for Joint Ventures with Other Like-Minded Business People
It's not uncommon for small businesses to work together - a movie theater and a restaurant offering coupons for a discount if you spend the evening at both places. In my past life working with large corporations I realized that the largest companies grow by means of joint ventures all the time. However, many small businesses do not look into joint ventures when it comes to marketing their businesses.
Is it always easy to find the right joint venture for marketing your business? No, of course not. But it is possible to find like-minded business owners whose customers could benefit from your products or services just as your customers could benefit from those that they offer.
As a result, both small businesses will be better able to extend their outreach and develop a wider customer base. If you are going to enter into a joint venture, search for companies with similar goals and a similar customer base but a different type of product or service. Stay on the lookout, keep an open mind and you just might find the perfect opportunity to market your business to a new audience.
A perfect example of this principle is a recent joint venture I did with a company who specializes in teaching business credit skills to small business owners. This company markets to the same clients that I wish to add to my customer list, but they offer a completely different service. By working together, we were able to market our services to each other's mailing lists, resulting in both of us attracting new customers we would not have had otherwise. The great part about this joint venture was that there was no out-of-pocket cost to either of us - just our time and a little creativity in coming up with suitable promotions to each other's lists!
Taking your business to the web does not need to be difficult, nor does it need to be expensive. By taking a creative approach, small business owners on a tight marketing budget will be able to find traffic and increase their customer base.
Focus on reaching the search engines: use the right keywords and use them appropriately. Let people know that you have the information they need with articles and be sure to get the word out by distributing press releases. Interact with your customers with a high quality blog, and focus on getting great links. Lastly, take advantage of partnerships with like-minded business owners.

Small Business Marketing - The Power of a Market Review

Conducting a market review is one of the most important steps in the small business marketing process as it provides together with a business review the information you need to create a dynamic marketing plan. All big businesses conduct these reviews as they know it can save time and money for their business.
A market review does not have to be complicated and a lot will depend on what information you can source. The important factor regarding a market review is to understand the key elements of your market and how these elements can affect your business now and in the future.
The key elements you need to look at when conducting a market review for your small business include:
Size of Market
Your market is simply the overall industry in which you compete. For example if you sell juice then you compete in the Beverage Market. If you sell holidays as a travel agent then you compete in the Tourism Market. Analyzing the size of your market can tell you whether it is growing or declining, help you to identify growth opportunities and for a new small business can determine if the market is large enough to compete in and operate a profitable business. There are many sources you can use to gather information on the size of your market and these include trade magazines, industry associations, search engines and local government websites and resources.
Market Segment Analysis
Segmentation is a process that looks at the total market and then divides the products or services into broad groups that have similar characteristics. In the examples above, whilst the total market is beverages, the segment that is the most important to a juice manufacturer is the Juice Segment. Looking at the total beverage market today throughout the world the leading soft drink manufacturers have entered many of the market segments such as bottled water to expand their business. Market segment analysis also helps you to determine where your small business marketing efforts should be concentrated.
Distribution Channel Analysis
A distribution channel is the way in which your product or service is made available to your customers so they can purchase it. Examples are supermarkets, personal selling (face to face selling), distributors and the internet. Analyzing the sales of each distribution channel in your market enables you to identify which channels are the most important for you to compete in to grow your business.
Market Trends
A trend is any significant change to your market that your business may need to respond to. Examples of market trends include changes to the economy, changing customer demographics, social and global factors (to name a few). If you conduct business in the USA at the moment or are intending to compete in the USA then the concerns about a possible recession and how it could affect your small business needs to be identified so action plans can be put in place to minimize the impact.
Market Seasonality
If a product or service is seasonal it means that the majority of the sales occur at one or a few times a year. Tax accountants obviously have increased sales when the end of the financial year occurs and tax returns and other government reporting are required. Understanding market seasonality factors can lead to your small business maximizing sales through this period and also may highlight opportunities to spread your sales throughout the year.
Competitor Analysis
Your key competitors need to be analyzed in order for you to identify their key strengths and weaknesses and how they compare to your own small business. Reviewing this area means that you can be smarter with your marketing efforts and be proactive against their weaknesses and of course defend against their strengths. One tip that all big businesses do is to have a competitor file with examples of their marketing activities, products or services.
Big businesses know the value of reviewing the market in which they compete and you can to. Remember you can start slowly and just review one section at a time and then put in place activities or make business decisions based on the review to grow your small business.