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Marketing Tools and Tips for Growing Your Business

Think in the "Now" But Also Think Ahead

By , About.com Guide

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Financial Management Tips for Effective Marketing

  • Establish a specific line item in your budget for marketing.
  • If you have to cut back on expenses, consider cutting your marketing and advertising budget last. To grow your business you need to keep promoting what you do.
  • Track income generated to specific marketing campaigns. For example, if you offer coupons or discounts, include a unique code for each new promotion. If you sell products on the Internet, include a field on the order form "How did you hear about us?" By identifying successful campaigns (and unsuccessful ones) you can adjust your marketing strategies.
  • Update your marketing plan just as you do your business plan.

Advertising and PR Tips for Reaching Your Market

  • Consumer interests, competitive pricing, and industry standards are constantly changing. It is important to conduct ongoing research and study what new markets are emerging.
  • Offer customer surveys to help you identify strengths and weaknesses in products, services, customer satisfaction, and advertising methods.
  • Regularly promote new products, major events, and successes through press releases, your website, newsletters, and other marketing materials.
  • Send former and potential customers updates about products and promotions.
  • If you run a nonprofit, be sure to thank donors and keep them updated on how their funds have been put to use.
  • Take advantage of other businesses that have already paid millions for marketing research. Pay attention to media advertising, colors, designs, locations, products in store front windows; there are clues to take for your own advertising and products lines all around you.

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