Business

<< Previous   of   Next >> (click to enlarge) Juergen Kneifel (click to enlarge) Barb Lamoureux (click to enlarge) Diane Symms (click to enlarge) Juergen Kneifel   ADVERTISEMENT   Related Stories • Banks still safe place, FDIC official says 5/19/08   CONTACT THE HERALD Mike Benbow, Business Editor benbow@heraldnet.com   Published: Monday, May 19, 2008 5 tips for marketing your small business By Pat Sisneros and Lynne Munoz You don't need to spend big bucks to create an effective marketing strategy for your small business. We asked a few local business owners about their marketing plans. They revealed that low-cost creative, relationship-focused efforts had the biggest impact. The challenge for new entrepreneurs is that this approach takes time, which is in short supply when you're launching a business. That's why we strongly recommend creating a plan that maps out your marketing goals with realistic expectations. Have a plan. The marketing plan is an entrepreneur's basic tool for mapping out the direction you want your business to take. The plan looks at your situation, including what the existing competition is doing. The plan also helps you define your product or service and to whom you will sell it and at what price. Advertising and planning how to reach your customers (distribution) are also important for the entrepreneur to think through in terms of marketing strategy. Creating a solid marketing plan is the first step in putting together your overall business plan, which can greatly reduce your risk of failure. "The most important piece in creating a successful marketing plan is to understand your brand and product, its image and the demographic of your targeted customer," said Diane Symms, owner of a trio of Lombardi's restaurants in Everett, Ballard and Issaquah. Learn to network. Barb Lamoureux, president and founder of Lamoureux Real Estate, said her top advice for new business owners is to find 200 people who recognize your name and regularly tell them what you do. "From the very first minutes I went into business for myself in 1983 -- before real estate -- I was aware of the adage that says 'People like to do business with people they know,' " she said. "We all want to feel like we have someone we can trust, and a referral from a friend or client or the familiarity of seeing the same face over and over again in your mailbox will help move you to the top of the list for people who are looking for someone who does what you do." Juergen Kneifel, founder of the nonprofit Mission2Mentor program in partnership with his church, agreed. "Join associations, chambers and groups where you're able to network with people who share your passion to serve," he said. Participating in the community in other ways can also help your bottom line. "You absolutely have to remember that you are part of a community, and when your business comes from the community you live in, you have to give back and support that community," Lamoureux said. "That involvement can be with time or money." Think small. Getting your name out there takes more than networking. But you don't need to spend thousands on glossy advertising. A personal call or conversation -- or even a handwritten note has a more lasting impact. "I am a big believer in handwritten, personal notes and cards," Lamoureux said. "They take a lot of time and you can't cover a lot of names, but every small business should have a list of your top 100 clients who love you and recommend you. You want to take care of them above all." Another way to get your name out there is publicize your company's launch and accomplishments. When Mission2Mentor sponsored a national training program in the area in February, Kneifel let the media know. "I was amazed how many calls and comments we received in connection with the story," he said. "Newspapers do publish stories that tell the greater community about the success of community organizations. Many not-for-profits simply fail to share their story." The personal touch can also happen via the Web. All three of the business owners we spoke with said new businesses need to have strong Web sites and should take advantage of e-marketing tools. "For the past three years, Lombardi's has put 50 percent of our marketing budget and focus on the Internet," Symms said. "We have developed an internal eNews customer base which we use to communicate through the Internet to our customers to reward them, announce special events and offers and to increase their visit frequency." Get help. Symms, Kneifel and Lameroux's experiences provide a few low-cost ideas to get started on your marketing plan. If you're uncomfortable with doing a marketing plan yourself, there's low-cost help for you available in a number of ways. The Small Business Administration at www.sba.gov or the Service Corps of Retired Executives at www.score.org are available for advice. Entrepreneur magazine at www.entrepreneur.com has examples and a number of worksheets you can use to help you gather and organize your information. Update your plan. Keep in mind that you will always change and adjust your marketing and business plan, so don't set your plans in stone. At least once a year, you should take time to decide what you want to accomplish next: increase sales, introduce a new product, move into a new market, etc. Continuing to work on your plan, and putting effort into marketing, will have tangible results for your business. Pat Sisneros is the dean of Everett Community College's Business and Applied Technology Division. Lynne Munoz is the director of EvCC's School of Business Design. Send comments and questions to economy@heraldnet.com.

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