3 Ways to Grow Your Business in a Local Market

Growing any new business is going to be a challenge, no matter where your customers are. Local businesses have the unique advantage of limiting their marketing strategy to target the unique attributes of their limited market.  However, even If you’re looking to sell your products and services on a national or international scale, you’re going to need to break out your unique markets individually.

In virtually any instance, it’s going to be worthwhile to look at growing your business in a local market, on a local scale. Take a look at these three basic strategies of how you can focus your marketing efforts, and grow your business locally – one market at a time.

Radio Advertising While people may think Radio is always behind television as an advertising medium, this is not the case anymore. Recent studies are proving that consumers prefer to consume video based media on-demand; online and in other places that limit the ad exposure during broadcast.

Conversely, radio remains a medium that’s consumed passively, without much resistance to frequent advertising interruption – particularly on workday commutes. In a local market, this presents a ripe opportunity to get your message across to your local “captive audience”. Try offering a unique discount coupon code that’s easy to remember like “PIZZASAVE20” for 20% off your first order. Because you know exactly who’s going to hear your advertising based on the broadcast range, Radio is an excellent medium for growing business in a local market.

Print Marketing If your business is brand new in town, and people don’t know you – nothing will legitimize it quite like print marketing materials. Print marketing makes your business seem real to customers, as they can literally touch and hold somethinglocal-business that tells them who you are.

Print also has staying power – magnetic fridge calendars can stay up all year long, helping remind people where to purchase your product. Distribution of print marketing in a local market has never been easier or more affordable; with things like the USPS’ Every Door Direct Mail (EDDM) program, you can hit every home and/or business in a zip code at a highly discounted rate over bulk mail costs. As your custom printed postcards, brochures, self-mailers and other marketing tools blanket your community, you’ll earn recognition and staying power that will pay off down the road.

Free Seminars Depending on the nature of your product, you likely possess some unique industry knowledge that will be of benefit to your local community. Consider renting out some space for free at a public venue like a town hall or library; and offering a free educational seminar there to benefit the community.

Whether you’re speaking about setting up wills and trusts during retirement, proper automotive maintenance, or investment tips – all of these things benefit the community while establishing you as the expert. Once you build trust and create a sense of urgency, people will come to your local business when it’s time to invest in a product or service.

 Note” it’s extremely important in these seminars not to be too salesy, or shamelessly promote your business. It’s okay to mention your business and where people can inquire about pricing for example – but never mention it while “onstage” – it can make you lose respect in the community.

4 Ways You Can Save Money by Hiring an Accountant

If you are running your own business, you are probably doing your best to save money wherever possible. If so, you may be putting off hiring an accountant because of the extra expense, but this could be a mistake. An accountant can not only make the running of your business easier, but they can also save you more money than you spend on their services. Here are four ways in which a trained accountant could save you money.

Reduce Your Tax Bill

If you do not have access to specialist financial advice, the simple fact is that you could be paying more in tax than you should be. Qualified accountants are specialists at helping you to minimize your tax liability legally so that you never have to pay more than you are legally supposed to. If you are just starting out your business and working from home, your accountant may be able to provide you with details of tax reliefs that can really help you get your business off the ground.

Avoid Fines

If you cannot get all of your records in order in time to file them with HM Revenue & Customs, there is a good chance that you will be fined. Additionally, if you make a mistake this could also lead to a fine, even if you did not realize where you went wrong. By hiring an accountant, you can avoid such mistakes, as well as avoiding a visit from the tax inspector.

Make Better Financial Decisions

You will have to make important financial decisions when running a business, so it makes sense to have access to specialist advice in order to make the right decisions. Making a bad decision could seriously affect the profitability of your business, and having your own advisor can enable you to make better decisions that lead to more growth and profitability.

Invest Time and Energy Elsewhere

If you are spending hours and hours working on your accounts, you have to ask yourself whether this could not be better spent elsewhere. If you are able to hand over your accounts to your accountant, you can immediately forget about the stress and time involved in sorting them out yourself. This means you will have more time and energy to invest in doing what you do best, which includes generating more income.

Save Money and Hire an Accountant

Hiring an accountant is one of the most sensible decisions that you can make when you are running your own business. Not only can an accountant save you lots of time and effort, which you can then focus on other areas of your business, but they can also lead to significant savings.