Missed Opportunities

The economy is doing very little to help small businesses in the UK, and certainly, over the past few months, it has become evident that every one of us is having to watch our budgets very carefully.

By the same token, it has always been said that businesses should market their way out of a recession, which is often easier said than done when you consider that every penny counts.

Marketing does not have to cost a lot, and carefully considered marketing will help your business generate more income, and grow.

Let me give you a recent example:

Last week, we organised one of our regular monthly business Tweet-Ups at a local hotel.

The networking meeting receives a good deal of publicity - local press coverage, local business radio, business websites and emails to Chamber of Commerce members, plus lots of social media chat. Word of mouth is also important when it comes to these events, and we rely on attendees to bring along colleagues or spread the word aboout the events.

When I arrived at the venue - a function room adjacent to the main hotel - I noticed immediately that there was absolutely nothing in the room to publicise the hotel. Whilst the hotel had very kindly let us have the room free of charge (they made money from the sale of refreshments), they were missing a great opportunity!

The people who attend these networking events are all local business people. They have clients, suppliers and other contacts, and this was the ideal time for the hotel to advertise their Christmas menus or functions to a local, captive market. I mentioned this to the hotel staff and we got some of their Christmas menus to spread out on tables. They may not receive any bookings as direct result, but marketing is not always about generating immediate direct sales. It is far more than that. It is about knowing and understanding your target market, making sure that your name is in front of those people and that they identify with both your brand and your marketing message.

So, there are opportunities out there. Find out where your target market is, and make sure you are visible there. Make the most of every opportunity; don't take it for granted that potential customers will simply come knocking at your door, because the likelihood is that they won't. You need to be there when they look for a service or product that you provide.