Making sense of all the local marketing options available to a small business can be difficult, especially when trying to manage the other pieces of your business. With the invention of daily deals even more companies have flooded into the local ad space making it more crowded and difficult to understand.
In my prior life as an Investment Banker, I often found it helpful to take a step back and make an industry roadmap when I was assigned to work with a client in an unfamiliar industry. My goal in making these was to identify the major players and also understand the competitive advantages of each business model.
In an effort to help small business owners better understand the plethora of options available to them, we‘ve created a road map of sorts. We’ve segmented local marketing into eight categories and have identified the major player in each, like Facebook, Google and Groupon. By looking at each major player it then becomes easier to understand the pros and cons and pricing of each option.
As we continue to focus on the local marketing industry, we hope that this will be the first of many resources business owners can use when thinking about how to optimally advertise their business and obtain new customers. We also hope that you’ll consider Signpost as you evaluate your options.