Marketing your business is an important to grow your customer base, build a reputation, and maximize sales. How you market will depend on your business, operating area, and target market. Currently, direct advertising through mailers is still the cheapest method outside social media. Emails are available from services such as Data Axle, for a price. For more information on various marketing techniques, please see the suggested reading box to the right.

Your marketing list may consist of people or other businesses. They are usually area focused and should be influenced by your market and demographic research. More on demographics and how to find the data is covered in the next section of this LibGuide.

Markets vs. Marketing

Market research and marketing research differ on some key points. In general, market research is more rigid and industry focused whereas marketing research looks at the marketing strategies across multiple industries. Market and marketing research go hand in hand. Think of market research as the why and marketing research as the how. A particular industry has its ideal market but how you reach them can use methods effective across multiple industries.

Tips for More Effective Marketing

Keep the customer experience at the forefront

• Studies show a marked increase in profitability for companies that focus on the customer experience 
• Consider use value, ease of use, variety, accessibility, affordability, & safety
• Consider social aspects (PRIZM Reports in Mergent Intellect)

Connect with the customers effectively

• Once you have invented your product, you will still need to engage customers for more insight into the value of your product and to plan for future improvements

Identify opportunities for business growth

• As you make connections in the marketplace you will identify new avenues for marketing as well as growing & improving your business

Reduce risks and maximize rewards

• Your research can help you determine the potential demand for your product and avoid hasty or unprepared roll-outs

What do You Need to Make a List?

Aside from knowing where to find the data, there are some things will need to consider before running your lists. If you have already done some general research for your invention, then you are most likely familiar with this information.

Your target market and their demographics

• Age, income, education level, spending habits, etc.

Your operating area

• Are your customers local or spread out?
• For online retailers, operating area is a much more ambiguous term and will require a different approach utilizing structured area searches or a greater focus on digital marketing

The material need of your business

• The same tools we use to generate client and marketing lists can be used to find suppliers or wholesalers

Tips for building a marketing list

• Identify your ideal customers or clients first. Use industry reports, do interviews, or hit the pavement.
• Try sorting your lists by different variables to see if a pattern emerges around one or more data points.
• Be organized. You may end up with a lot of data depending on how large your operating area is. For example, classify your lists by location or customer attributes.
• Be sure to try different databases. Some have slightly different search options that may be beneficial. Some excel where others fall short.

Doing a little research beforehand will pay off in the long run. Successfully identifying your target market and their characteristics saves time and money when implementing your marketing strategy.