Marketing, promotion and sales

The third big consideration when starting a business: marketing and promotion.

How will you communicate the availability of your product or service? Paid advertising offers many channels of communication including: newspapers, radio, television, direct mail, outdoor (i.e. billboards), Internet, magazines, point-of-purchase displays and even the basic business card. Use market demographics to best identify the most appropriate channels to reach potential customers with your message. While paid advertising requires money it also ensures your specific message will appear as you designed it, at a time of your choosing and in the specific medium you selected.

Public relations and media relations efforts can focus on newsworthy activities, events or products related to your business. PR efforts require no money to buy space or time on a channel of communication, but your message is frequently modified and may not appear in the time or place you prefer.

Sales is another element of marketing. A primary point to consider regarding sales: Is your business retail or wholesale? Will your customers will be coming to you at a store or office, or will you be going to them with a mobile sales force? The answers to these questions will have a significant bearing on how you market your business to your intended clientele.

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