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Advertising - Know Your Marketplace 2

Yesterday, before we took some time off to go whale watching, I was talking about how important it was for every small business to advertise. Every small business needs to get the message about their product or service out there to the people that can use what they offer.

And that makes advertising vitally important to every small business. However, to just engage in ‘advertising’ can blow your budget and bring nothing in return. You need to be able to clearly identify your market and know who populates your market and focus on them to ensure that your advertising dollar is spent wisely.

For example, if you’re a plumber your market place is going to be people who need the services of a plumber. They might have a leaky tap, they might want knew fittings installed or they might want some extra pipes laid so that market place is obvious but who inhabits that market place?

Obviously homeowners are there, and then there are those who invest in real estate because their rental houses are always going to need repairs. You will probably find that rental agents, property developers, building contractors and others that I haven’t thought of are all inhabitants of your market place too.

But how does that knowledge help you get the most out of your advertising dollar?

That knowledge helps you because you can use it to identify where and how you should be advertising. When you advertise your goal shouldn’t just be to get your message in front of as many sets of eyes as possible. Instead you need to get your message in front of as many sets of eyes in your market place as possible.

That means that you need to think about what do those sets of eyes see every day and where can you advertise so that those sets of eyes see your message as often as possible?

Stay tuned because there is more to come.

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