One way that marketing can help a small business, especially in a down economy, is by pointing out to a prospective customer the value of doing business with that company instead of a competitor.
Consumers are more willing to purchase a product or service, even if it is more expensive than the competition, when they perceive real value in doing so.
This does not have to be an expensive proposition.
You can create value simply by returning phone calls and e-mails the same day.
Many businesses don't return phone calls at all.
Show up to your appointments and meetings on time.
Many of our colleagues show up late or not at all.
Follow through and do what you say you will do.
These are simple steps that cost nothing but will start the cycle of proving to your prospect that choosing your business over your competitors' is a smart choice.
Create a list of reasons why your product or service is better or different from the others that are out there.
Does your product have features that others don't? Do you provide a higher level of service to your customers? Be able to list these differences and explain what value this benefit will bring to the consumer.
Take the time to prepare company information in a neat, easy to follow format that explains the difference in your products and services over that of your competitors.
Tell the story about your company, including why you are different and what made you that way.
Tell what your company can and will do for the prospect.
And give examples, especially testimonials from past customers that prove you did just that.
Creating value for your customers is an excellent way to market your small business and to showcase your business over your competition.