The most important thing to do when you are a small business owner is to stay in business. In order to accomplish this small task you must maintain your customer base while building a new customer base simultaneously. The question is how do you balance this?
According to Elizabeth Wasserman, the editor of Inc.’s technology website,IncTechnology.com, there are several ways to do this. First you need the who, what, when, and where of your current customer base. You first have to know who you are trying to reach and a little bit about them in order to hit your target market in a way that inspires them to give you their money. Then you can start figuring out how to reach them.
As far as the how. You need to get in tune with your customer base and figure out what is going to get in their heads. I am working on a media plan for Lucky Charms. For this product I have to figure out first what is going to get into kids heads and make them ask their moms to buy it. Then I also have to get into the moms heads and make them actually spend their money.