For most entrepreneurs, their business is their life. They have watched it grow from an idea to a thriving enterprise, hard work being the energy by which it has been fueled. Some have taken the reins from earlier generations, hoping every day to make the family enterprise more successful. In today's economy, big box stores threaten the very existence of these small retailers.
There are harsh realities to be learned in the world of business. Perception is reality in the minds of consumers. It does not matter if a given operation has prices lower than a large national chain, unless the local community knows that to be a fact. Large scale advertising for national chains makes it hard to get the word out for local businesses that cannot begin to compete in terms of an advertising budget. But business owners should not despair; there are other ways to become top of mind to the local consumers.
The first thing any entrepreneur must do is to perform an honest evaluation of who the current and prospective new customers are. Local advertising opportunities will vary by location. In some very rural areas, the only medium available may be a local newspaper. Business owners in more suburban and urban areas should also be able to choose from a variety of local radio stations, cable networks, direct mail programs and television. Internet display ads and text/email blasts can also be customized.
Local business advertising needs to make the most of opportunities to become involved with the local community. Sponsoring local non-profit organization's efforts in fundraising will reap benefits far beyond the dollar investment. Not only will the business be named in any promotion done for the event, there will also be residual "good will" in the eyes of the participants. Sincere and sustained community involvement will create a new perception, the operation will become known as the retailer who supports the community and really cares. Big box stores and national franchises cannot and will not respond to local requests for support, giving the locals an opportunity to create that perception of being part of the community.
The secret to growing a local business is targeted advertising and promotional efforts. Great advertising is nothing more than the right message to the right consumer frequently, consistently and at the right time. If this formula is used, the perception of being the best place to go will become embedded in the local customer base. Of course, the company must have great merchandise, great prices and great service to back it up.
There are harsh realities to be learned in the world of business. Perception is reality in the minds of consumers. It does not matter if a given operation has prices lower than a large national chain, unless the local community knows that to be a fact. Large scale advertising for national chains makes it hard to get the word out for local businesses that cannot begin to compete in terms of an advertising budget. But business owners should not despair; there are other ways to become top of mind to the local consumers.
The first thing any entrepreneur must do is to perform an honest evaluation of who the current and prospective new customers are. Local advertising opportunities will vary by location. In some very rural areas, the only medium available may be a local newspaper. Business owners in more suburban and urban areas should also be able to choose from a variety of local radio stations, cable networks, direct mail programs and television. Internet display ads and text/email blasts can also be customized.
Local business advertising needs to make the most of opportunities to become involved with the local community. Sponsoring local non-profit organization's efforts in fundraising will reap benefits far beyond the dollar investment. Not only will the business be named in any promotion done for the event, there will also be residual "good will" in the eyes of the participants. Sincere and sustained community involvement will create a new perception, the operation will become known as the retailer who supports the community and really cares. Big box stores and national franchises cannot and will not respond to local requests for support, giving the locals an opportunity to create that perception of being part of the community.
The secret to growing a local business is targeted advertising and promotional efforts. Great advertising is nothing more than the right message to the right consumer frequently, consistently and at the right time. If this formula is used, the perception of being the best place to go will become embedded in the local customer base. Of course, the company must have great merchandise, great prices and great service to back it up.
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