You might have the best new product or service in the industry, but your small business will also need an effective marketing plan. Getting the word out to prospective customers, developing relationships with other companies, and adjusting your small business plan may seem like an overwhelming project, especially if you’re on a tight budget. Fortunately, there are a few time-tested approaches for maximizing the return on your marketing investments.

4 Marketing Tips for Small Business Owners

1. Develop an Elevator Pitch

You never know when an opportunity might arise, so you should always have a short pitch that describes your business in a way that generates interest. Develop a short speech of no more than a minute that explains what sets your business apart and what you can offer that your competition can’t.

2. Invest in Email Marketing

An active, well-curated email list may be the single most important marketing tool a small business can possess. Email marketing is extremely cost-effective, and many advanced programs allow you to fine-tune messages and see who opens your messages in real time.

3. Tap Into Your Local Community

Digital marketing tools are an essential part of any small business plan, but there’s no substitute for active engagement with your local community.  Sponsoring a local sports team, setting up a local event, and collecting donations for a favorite cause will help build brand awareness and create valuable networking opportunities.

4. Know Your Audience

The more narrowly you target your marketing campaign, the more effective it’ll be. Before launching a campaign, think about who your target audience is and what messaging platform will be most effective. For instance, if you’re opening a coffee shop, advertising on social media can help you get a younger audience’s attention. On the other hand, companies that focus on B2B services may get more out of attending trade shows and advertising in trade publications.

No matter what industry you're in, the Greater North County Chamber of Commerce is committed to helping you succeed. They offer extensive small business planning resources, regular events, and an opportunity to network with entrepreneurs throughout the Florissant, MO, area. Visit their website or call (314) 831-3500 to learn more about the benefits of becoming a member and get more small business planning and marketing tips on Twitter.