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Marketing 101 for Senior Entrepreneurs

Wirefreesoft knows that anyone at any age can be a business owner. Not all generations had the same technology though. Depending on their backgrounds, many seniors with dreams of entrepreneurship may not be fully versed in how today’s technology can simplify business processes. Bookkeeping, record keeping, communication and marketing research are all made easier using the right software or apps. We have created this informative blog to fill in some blanks. Please feel free to share this with any seniors in your life.

Whether you hope to run a brick-and-mortar retail store or an online business, good marketing is crucial to gain, maintain and expand your new company’s customer base.

Starting Your Business

One of the first things you’ll do is to decide on your business structure. If you choose to go with an LLC or incorporate your venture, you’ll be eligible for much lower tax rates, especially if you’re able to claim the small business deduction.

It’s not necessary to use an attorney to form a corporation. You can file yourself or use an online formation service to save money.

Before you begin operations, you’ll also need to:

  • Obtain necessary permits and licenses
  • Create your company’s brand and logo
  • Purchase business insurance
  • Find a suitable location
  • Hire employees
  • Open a business bank account
  • Set up a comprehensive bookkeeping system
  • Design a marketing and advertising strategy

Marketing Basics

You can offer great products or services, but people won’t buy them if they don’t know about your company and what you offer. Marketing is a way of targeting your advertising campaigns to the consumers you want to reach. Marketing includes:

  • Gather market research data to discover those most likely to be interested in what you are selling
  • Use your data to understand your target market, which includes information on who and where your customers are, why they buy and how they buy
  • Develop your brand and pricing strategy to best position your business
  • Create an advertising and marketing budget and plan

You must know and understand your customers to successfully reach them, capture their interest and convert that into sales. You’ll need different methods to reach young adults, upper management and retired persons, so it’s crucial to target your customers correctly.

Marketing Strategies

When you’re first starting out, a simple marketing plan is sufficient. Eventually, you may want to work with a dedicated marketing agency, particularly if your business thrives. Still you can start out small:

  • Hire a professional to create a website that is well-designed and easy to navigate. 
  • Ask potential clients to subscribe to a mailing list and one-click social media following. You may even want to offer a discount for first-time customers.
  • Use social media posts or ads to reach your client base.
  • Partner with a complementary business to cross-promote your goods or services.
  • Use Google Ads to help drive your advertising and increase traffic to your site. 
  • Implement a solid cybersecurity strategy to protect your website and your clients from cyberattacks. Ideally, work with a dedicated IT group for regular monitoring.

Marketing Is a Key to a Successful Enterprise

Seniors and other entrepreneurs need to use effective marketing strategies and practices to grow their businesses. Research and use available resources to find what works best for your company. You don’t have to spend a lot, but you should spend it wisely.

Wirefreesoft has the tools you need to grow your business successfully. Reach out today to learn about how we can work with you to reach your goals. If you are interested in something that we don’t do, we have partners who can help. We are ready to support you now.