QUESTION.
I started a Web site for business sellers/brokers to post this business for sale ads. I have a very limited marketing budget and I need some direction on where to allocate my limited funds.
Below are a few of my ideas:
1. Targeted email campaigns towards business brokers- there is a company in India willing to collect emails for me for 3 cents each. The problem is since these people are not “opt in” I would probably get in trouble with anti-spam laws. Correct? Is there a way around this? I also saw online where you can “borrow” an email list which I don’t understand because technically they are not “opt in” for my site.
2. Google keywords- I want to target specific states first such as CA, FL, NY, NJ where broker activity is higher than other states.
3. SEO- ask a development company to help with search engine rankings etc.
All of these ideas will cost money and was wondering what you think I should
focus on given my limited funds.
Hope you can help me out!
ANSWER.
I think it is wonderful that you have the entrepreneurial spirit. And a woman, too! So few women want to take the plunge. As a group you are conservative, health insurance hungry, and generally not too energetic.
The questions you ask are integral to a marketing plan for your business. Generally speaking, the only way to come up with a great answer for you would be to research your market (your competitors, their customers, and the industry in general). That is a big project. As a SCORE counselor I don’t do that for you. I listen to you when you hand me an attempt at a business plan. If I see holes in the business plan (which includes a financial plan, marketing plan, publicity plan, and networking plan), then I make my recommendations.
What you need to do is become expert at putting together a business plan. Please take a look at guides 8 and 6 at www.jlippin.com/guidemania.html. Also, take a look at list 68 entitled Business Plans Handbook Volumes 1-13 at www.jlippin.com/listmania.html. And to see the list of sample business plans in the different volumes then look at www.jlippin.com/bph/.
The last two links relate to sample plans – lots of them. I highly recommend you read as many as possible so you get a feel for what a plan is about. They don’t have to be just like the business you want to start. In fact, all plans are pretty much the same. It’s just the particulars or the business model, or the unique mix of marketing tools, that changes from one plan to another.
Two other books I highly recommend you get copies of are: “Making a Fortune Promoting Other Peoples Stuff Online” by Rosalind Gardner (ISBN: 0071478132), and “Business Models Made Easy” by Don Debelek (ISBN: 1599180413). Read the book reviews I have posted on Amazon for each.
I have provided you with a few comments. I hope they prove helpful. Good luck! Regards, -Jeff
Jeff Lippincott
SCORE.org Counselor
Princeton, NJ
scoreprinceton @ aol.com
www.scoreprinceton.org
www.jlippin.com
