By Barbara Brabec
You may have a great product or service, but how can you spread the word? This question often stumps those new to a home business. But information can help with those fears and get your new marketing efforts off to a good start.
When devising your marketing plan, consider these suggestions:
1. Market Niches--Begin by dividing your market into logical segments. Then take a closer look at each of the products and services you currently offer and relate them to the market segments you've just identified. Which of your products and services can be modified to serve a different segment of your market? Have the needs of one (or more) segments changed because of the economy, technology or other factors?
If so, start brainstorming for new products and services you can add to your business mix because each group of people or businesses with similar needs or demands adds up to another market niche just waiting to be filled.
2. Pricing--If you enter the marketplace with prices that are too low to begin with, buyers may think you less worthy than your competition, being naturally suspicious of anyone who would offer good products or services at too-low prices.
On the other hand, prices that are too high can just as easily position you in prospect's minds as being totally out of their financial reach when these may be the very people you're counting on to build your business. Thus pricing becomes an important part of your overall marketing strategy and you can't set the right prices without a thorough understanding of your costs, your industry, the economy and a dozen other factors, not the least of which is your reputation as a business owner, entrepreneur, or expert.
3. Brochures--The primary goal of a brochure should be to show recipients how your product or service can solve some particular problem or need they may have at the moment. Stress the benefits of what you're selling in terms your particular market can relate to.
The inclusion of testimonial copy will show that others value your products or services and help persuade many people to buy. Finally, make it easy for the recipient to respond by providing a convenient order form or reply vehicle of some kind (it need not be prepaid to be effective).
4. News Releases--Before you begin to write a release, answer the question all editors and readers will ask: "What's in it for me?" List the benefits of your product or service and work them into the copy. Avoid first-person voice and "me-centered" releases.
Unless you're a notable personality, don't begin a press release with your name, which will only generate a yawn from editors. Releases written by PR novices often contain good information but sound like brochure copy, which is unsuitable for media use.
5. Newspaper Advertising--If you plan to advertise in your local newspaper, pay particular attention to the day your ad runs, remembering that each day's paper may include special sections targeted to specific readers.
Barbara Brabec is the author of HOMEMADE MONEY (Betterway), now in its fifth edition. Her book addresses every issue relevant to the operation of a homebased business. In bookstores or through the author's website at.www.barbarabrabec.com.
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