Every small business owner believes he or she has something that sets them apart from the competition. But that won‘t translate into extra business or more customers if you don‘t let people know about it.

According to Jonathan Hollow, head of content at businesslink.gov.uk, marketing a product or service effectively can play a key role in taking a small business to the next level.

“If you are looking to grow or develop your business then marketing will undoubtedly play a very important role,” he says. “It offers the opportunity to communicate with your customers, letting them know why they should come to you over your competitors. It should be one of your ongoing priorities and a key part of your business plan, so make sure marketing always stays at the top of your to-do list.

“Some people have a tendency to think of marketing as advertising,” he adds. “In fact marketing involves a number of activities, from market research and customer needs analysis to direct selling and sales promotions. Getting to grips with the marketing tools available to your business and understanding your needs and your budget will help you stay ahead of the competition.”

Business Link offers the following tips to help develop your marketing plan:

Getting started
Research and analyse both your customers‘ needs and your business environment. This is the best way to make sure you stay abreast of changes that can effect your business and start developing your marketing strategy

Analysing your market
One of the most straightforward and effective ways of doing this is by carrying out a PEST analysis. This research method looks at political and legal changes, economics factors, social factors, and technological changes to give you an overview of your business environment

Choosing your target
Think about who you want your marketing to target. Are you on the hunt for new customers or do you want to consolidate and develop your relationships with existing customers? This is an important stage in developing the thinking behind your marketing strategy and will help you focus your future activity

Casting your net
Think as broadly as possible so you don‘t miss any potential opportunities. Instead of just considering the general public, consider dedicating marketing activity towards potential niche markets, as well as the broad-brush approach

Staying on track
When developing your marketing plan, it is important to set out objectives. However, make sure your marketing objectives are SMART; Specific, Measurable, Achievable, Realistic and Timed. They must also be linked in to your overall business strategy and goals

Consider your options
Having done your research, and consequently having an understanding of where you are and where you want to be, think about how you are going to reach your target audience. For wider reach, advertising could be an option, while a leaflet drop may work best in your local area

Focus your tactics
A good way of concentrating your marketing tactics is by addressing four main areas. Often known as the four Ps – product, pricing, place and promotion – these will add structure to your plan to help you meet your objectives

Don‘t cut corners
Once you have decided to get your marketing activity underway don‘t be tempted to save money by sacrificing quality. Do collect competitive quotes from suppliers, but if your plan is too costly try and tailor it further to suit your budget

Pitfalls to avoid when developing a marketing strategy:

• Do not make assumptions on what customers want, research it

• Do not base your strategy around competing on price alone

• Don‘t focus on a small customer group; more customer groups will provide more opportunities

• Try not to expand too quickly

• Don‘t forget to scrutinise the competition