The most successful business aren't the best.

Well, unless you're a Google, Microsoft or Tesco.

But it you're not a multi-billion dollar multi-national it's a fair statement.

The UK is bursting with small and medium size enterprises with great products (or services), great people, great ideas, bags of enthusiasm and the bank manager banging on the door.

So what's wrong?

Marketing is THE most essential business skill of 2007.

With very few barriers to entry, business ideas has never been easier to pursue. Yet a business can have everything going for it EXCEPT customers.

And without customers there can be no business.

The sadness of this is that marketing has never had it so good.

Marketing is becoming easier, more personal (rather than mass market) and cheaper. But we need to know how to use the best tools available in the most cost-effective way.

I like to separate the good marketing tools from the bad.

The Good

Google AdWords
Google Organic
Public Relations
Word of Mouth
E-Mail Marketing
Direct Mail

The Bad

General Advertising
Trade Advertising
Exhibitions

What do the good have in common? They're all cost-effective.

Take this example:

Dodgy Publishing call you and offer you the unique opportunity to advertise in their oh so important magazine. They hit you with promises of thousands and thousands of your potential customers seeing your advert in the must-have publication for your sector.

Price: £3000

Firstly, if anyone ever makes thse kinds of calls to you tell them frankly that you have a golden rule that you do not spend any money on any form of marketing, that all your business comes from repeat business and you're doing very well thank you (even if you're not) and don't need more business. They will soon go away.

Secondly, just think about what that £3000 will get you:

10,000 readers
5,000 will open the magazine
500 will see your advertisement
50 will be interested
5 will take action
1 may purchase

An effective use of £3,000?

Now try this:

You place an advert on Google for your product/service
It costs you 30p per visit to your website
That's 10,000 visits to your website for £3,000
1000 will take action
200 may purchase

So do you want 1 or 200 additional sales?

The tragedy is that this scenario is happening every single day.

Don't be a victim.

Promise yourself to take action and educate yourself in new and cost-effective marketing techniques.

by Carl Duncker