Take heed, marketing could be key for entrepreneurs

ROCKHAMPTON entrepreneurs facing troubled times could find the key to keeping their business from closing is solid marketing strategies.

Brisbane marketing consultant Damian Morgan yesterday stressed it was standard practice for small business owners to allocate between 3% and 7% of their turnover to marketing strategies.

And he told The Morning Bulletin, before he delivered a marketing presentation at The Regent Hotel, those strategies could be the difference between keeping the doors to business open or closed.

He advised small business owners not to take the "cater everything to everyone" approach when marketing their business or product.

"The first thing is to be clear about who your market is because the cater-to-everyone approach is a risky strategy," he said.

"You need to understand where you are most likely to get a response and target those people specifically.

"The truth is in a tougher economy, there is less room to move... great businesses will thrive and businesses that don't market themselves are at a greater risk of going under."

Damian was a business journalist for Fairfax media but his core field is marketing. He was born and raised in Condamine, but now calls Brisbane home.

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