FAQ About Small Business Marketing 
With a small marketing budget, how does a small business compete with our larger, deep-pocketed competitors?
You must first identify your target market and then figure out what you do better than your competitors. If you are not sure what that is, PlanToPlanWithVince.com will be happy to help you identify the primary advantages you have over your competitors. Once identified, you promote it. With the cost of websites and Email marketing services being so low, there is little reason not to take advantage of these tools and other low cost techniques. You work smarter, faster and use technology! Contact us for more information.
What is the difference between advertising and marketing? Isn’t this really the same thing?
Yes & no! Advertising is marketing but marketing is much more than just advertising. Advertising is bringing a product (or service) to the attention of potential and current customers. Advertising is focused on one particular product or service. Thus, an advertising plan for one product might be very different than that for another product. Advertising is typically done with signs, brochures, commercials, direct mailings or e-mail messages, personal contact, etc. Marketing is the wide range of activities involved in making sure that you're continuing to meet the needs of your customers and getting value in return. Marketing activities include "inbound marketing," such as market research to find out, for example, what groups of potential customers exist, what their needs are, which of those needs you can meet, how you should meet them, etc. Inbound marketing also includes analyzing the competition, positioning your new product or service (finding your market niche), and pricing your products and services. "Outbound marketing" includes promoting a product through continued advertising, promotions, public relations and sales.
How do I set an advertising budget?
Much depends on your industry and market, but most retailers will fit into the 3-5% of net sales. If your annual net sales are $300,000, your advertising budget would be $9,000 - $15,000 per year. This depends on many factors and should be used as a rule of thumb. PlanToPlanWithVince.com will be happy to review your situation and make recommendations.
I’m used to doing all my advertising myself. Why would I want to hire someone to help me?
(1) Do you plan your ads, or do you simply “react” to your ad salesperson calling and asking “Where is your ad?” (2) Are you better at running your business and selling your products and services or are you better at creating marketing plans? (3) Can you make more money focusing on what you do best or on creating a marketing plan designed around your marketing strategy? (4) Has history shown, that year in and year out, you spend virtually no time on your marketing strategy and marketing plans? (5) How do you imagine your biggest and best competition handles their marketing? Does the CEO have time to do it?
Glossary of Marketing Terms Brand: A brand is a product, service, or concept that is publicly distinguished from other products, services, or concepts so that it can be easily communicated and usually marketed. A brand name is the name of the distinctive product, service, or concept. Branding is the process of creating and disseminating the brand name. Branding can be applied to the entire corporate identity as well as to individual product and service names. Marketing strategy: A marketing strategy can serve as the foundation of the marketing plan. A marketing strategy often integrates an organization's marketing goals, policies, and action sequences (tactics) into a cohesive whole. Similarly, the various strands of the strategy , which usually includes “branding”, advertising, channel marketing, internet marketing, promotion and public relations can be orchestrated. Marketing plan: A proposed or intended course of marketing actions required to successfully implement a marketing strategy.
Market Profile: A summary of the characteristics of a market, including information of typical purchasers and competitors, and often general information on the economy and retailing patterns of an area.
Market Segmentation: To divide a market by a strategy directed at gaining a major portion of sales to a subgroup in a category, rather than a more limited share of purchases by all category users.
Advertising: Advertising is bringing a product or service to the attention of potential and current customers. Advertising is generally focused on one particular product or service. Thus, an advertising plan for one product might be very different than that for another product. Advertising is typically done with signs, brochures, commercials, direct mailings or e-mail messages, personal contact, etc. Promotion: Promotion keeps the product in the minds of the customer and helps stimulate demand for the product. Promotion involves ongoing advertising and publicity (mention in the press). The ongoing activities of advertising, sales and public relations are often considered aspects of promotions.
Marketing: Marketing is the wide range of activities involved in making sure that you're continuing to meet the needs of your customers and getting value in return. Marketing is usually focused on one product or service. Thus, a marketing plan for one product might be very different than that for another product. Marketing activities include "inbound marketing," such as market research to find out, for example, what groups of potential customers exist, what their needs are, which of those needs you can meet, how you should meet them, etc. Inbound marketing also includes analyzing the competition, positioning your new product or service (finding your market niche), and pricing your products and services. "Outbound marketing" includes promoting a product through continued advertising, promotions, public relations and sales.
Public relations: Public relations include ongoing activities to ensure the overall company has a strong public image. Public relations activities include helping the public to understand the company and its products. Often, public relations are conducted through the media, that is, newspapers, television, magazines, etc. As noted above, public relations is often considered as one of the primary activities included in promotions.
Publicity: Publicity is mention in the media. Organizations usually have little control over the message in the media, at least, not as they do in advertising. Regarding publicity, reporters and writers decide what will be said.
Sales: Sales involves most or many of the following activities, including cultivating prospective buyers (or leads) in a market segment; conveying the features, advantages and benefits of a product or service to the lead; and closing the sale (or coming to agreement on pricing and services). A sales plan for one product might be very different than that for another product.
