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A Beginner’s Guide for Senior Entrepreneurs That Need to Market Their Business

Updated: Aug 6, 2022

As a senior entrepreneur, you might assume that turning to a pricy marketing agency is your only option for marketing your business. However, that isn’t true. Instead, going with a simple marketing plan could be all you need. You’ll save some cash while covering your bases, allowing you to enjoy more profits.

If you aren’t sure how to market your business successfully, Lauren Design is here to offer a beginner’s guide specifically for senior entrepreneurs.

Developing Your Simple Marketing Plan

As mentioned above, you can usually skip the pricey agency by going with a simple marketing plan. But how do you make sure you’ve got everything covered and are headed in the right direction? By conducting research.

Before you begin your campaigns, get to know your market and target audience. By performing market research and competitor analysis, you can learn more about the market size and saturation, your target customer, consumer discovery paths, competitor pricing, and more.

After conducting your research, you’ll be able to figure out how to showcase your products to your target audience. If you’re worried that your business acumen isn’t sharp enough, getting an MBA online is a smart move. You’ll learn more about corporate finance, marketing, human capital management, and strategic planning. And, since you’re attending classes online, you get to maintain flexibility, giving you better work-life-school balance.

Setting Up Your Office

If your goal is to work at least some of the time from home, do yourself a massive favor and set aside a dedicated space to serve as your office. It should be a place that’s both comfortable and free of distractions. If your home requires some renovations to get you that space, good news: such improvements also boost your home’s appraisal value!

Keeping Your Initial Costs Down

You don’t want to spend a ton while you’re experimenting with your marketing strategy. By keeping your costs low, you can conduct more A/B testing, allowing you to figure out which approaches are producing the best ROI.

If you’re focused on local sales, mailers and print ads in community publications could be worth exploring. They’re a great way to distribute coupons that could boost your sales. Similarly, you may want to try a radio advertisement if a local station connects with your target audience.

For local and e-commerce small businesses, social media is another exceptional tool. You can create business profiles and post for free, allowing you to showcase your products or services and provide critical information to potential customers. Plus, it can help augment your digital presence and access low-cost social media advertising programs.

Having a website is also a low-cost way to boost sales. While there’s an initial upfront investment and annual costs, maintaining your site long-term doesn’t come with a big price tag. Plus, it gives you the ability to take advantage of SEO to secure organic traffic and further cement your branding, as well as build trust with potential buyers.

If you’re worried about creating quality ads without breaking the bank, plenty of low-cost tools are available. For handling a large number of marketing documents, there are PDF merging tools that don’t come with hefty price tags. Not only can you keep multiple documents in a single file, but you can also move the pages to ensure everything is in the proper order.

You can also find tools to simplify the creation of social media posts and ads, including options like Canva and Buffer. For website builders, WordPress, Wix, Hostgator, and Weebly are worth considering.

Launch a Referral Program

Referrals are powerful tools when you want to boost sales. While some may happen on their own, having a formal referral program allows you to incentivize recommending your company.

There are a few simple ways to make a referral program work. First, you can create an online form where people can provide you with the contact details or someone who may be interested. You can have a field in your shopping cart where buyers can put the name of someone who recommended your business or create unique referral links that customers can share with others, allowing you to attribute those sales to them.

Once you have the mechanisms, develop a reward for referrals, such as a discount on a future purchase. That way, customers have a reason to recommend your company, you connect with new shoppers, and you secure repeat business, making it a win-win.

Lauren Design is a design and social media marketing creative agency committed to delivering innovative and creative design solutions by making our client visions come to life. Feel free to contact us with questions!

Photo via Pexels

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