LOCAL Marketing OR "Selling in Your Own Back Yard" (Where it really Counts!) by Daniel Sage
Here's breakdown. You have a business. You have a business location. You have a neighborhood where that business is located. You provide a service or product that's truly valuable to right people. Great, now how do you find them? Or, maybe Question should be - Where? How Will Customers you Need EVER find You? Welcome to Business Marketing 101...
FACT "But Most Consumer Purchases are Made Within 12 City Blocks."
Think about it! Most Chains and Franchises (Burger King, Starbucks, Target, Wal-mart etc...there are now thousands!) can be found wherever there is enough Market Saturation. Most National Chains, Franchises, Grocery Outlets and Even Local Banks have figured this Equation out and are using it to reap HUGE sales by Region Count. (Census Tracts) They know 12-Block Rule and apply it vigorously in all of their Sales and Marketing Strategies!
They also know that Market Share is most Important Term in Advertising Game.
Let's review a few things about world of Business Advertising. There are more than 2 Million new businesses started every year. (Most are these are home based; this doesn't include MLM's or Affiliate programs) Over 500,000 of these will fail within 2 years. The average Successful ad campaign costs about $250,000 dollars. The average TV commercial is $10,000 for 60 seconds. The average radio commercial is $100.00 for 60 seconds. ($5000 to Produce!) To rent a Cab top billboard is about $300 a week. The average Freeway Billboard is between $2500-$5000 a month.
All of these fall under category of Blanket Advertising. (Expensive and mostly ineffective in short run, especially for small businesses. It works for Chains and Franchises simply because of number and convenience of locations.)
Can you even hope to compete with their Advertising Budgets or Reach?
So, now that you know how local buying habits directly affect you - how many of these people does your advertising strategy currently reach? Do you even know how many residents there are in 12 blocks surrounding you? Let's expand our marketing radius to 2 or 3 miles or a single zip code. Do you know anything about those residents? More importantly, do THEY know about YOU? These are questions you will need to answer if you are making your business succeed locally or at all.