5 Marketing Tips for Senior Entrepreneurs

Have you recently launched a business to pad your retirement income?

Entrepreneurship is a great option for seniors who no longer want to work from 9 to 5 but still hope to earn money in their golden years! However, figuring out how to market your business can be complicated. Even if you don’t consider yourself tech-savvy, an agency like SPMarketing can help you navigate the world of digital marketing! These tips can also help you master the ins and outs of small business promotion.

1. Identify Your Target Market

You don’t want to start implementing a marketing strategy until you fully understand the target market you’re trying to reach. If you haven’t identified your target market, you might not advertise across the right channels. You’ll need to define what problem you’re trying to solve for your customers, understand your customer demographic and their key characteristics, and analyze your competitor’s target markets too. You may want to look to your competitors’ marketing strategies for inspiration!

2. Establish a Brand Design

To make your marketing efforts stand out, you need to establish a consistent, eye-catching brand identity. From your print materials to your email signature, you want to make sure that your brand has its own notable style. This includes creating a memorable logo that makes a great first impression and exemplifies the qualities that separate your business from the competition.

But what if you don’t have much wiggle room in your budget for logo design? You can use a free logo design tool to design what you need! You can start by selecting your preferred style and icon, and then include any necessary text. You’ll be able to check out a variety of logos and change their fonts and colors as you see fit before making a final decision.

3. Leverage Social Media

The power of social media marketing cannot be overstated. Promoting your business on platforms like Facebook, Instagram, and Twitter can help you reach more customers. Today, plenty of seniors use social media for business and to stay connected with their loved ones. But if you don’t feel confident about your social media marketing skills, you can hire a freelance social media manager to run your accounts! To find the right person for the job, Planoly recommends asking candidates about projects they have successfully completed - for example, you can ask if they have ever developed a social media strategy for a senior-owned business before.

4. Cultivate Business Partnerships

Partnering up with another business can drive sales and boost your revenue. It’s a win-win situation, as your partner will also benefit from your collaboration! You’ll want to choose a partner who sells products or services that your customers would enjoy, but you should avoid partnering with potential competitors.

Start networking at local business events to identify possible partners. Peter Sandeen states that your partnership marketing initiatives could include anything from blogging about each others’ products to hosting webinars together to promoting each others’ services on social media.

5. Collect Testimonials

Sharing feedback from happy customers is one of the best ways to build trust in your business amongst your audience. These positive testimonials prove that your company can deliver on its promises. Not sure how to collect more testimonials? You could offer rewards to customers who submit reviews, such as freebies or discounts on future purchases. After a customer purchases something from you, you could also send out an automated email asking them to review the transaction.

For senior entrepreneurs, business marketing can seem complex. But by working on new skills and outsourcing certain tasks to freelancers or agencies, you can develop a highly effective marketing strategy. These marketing tactics will help you earn more through your business to fund your retirement!

Need a team to develop your digital marketing strategy? Look no further than SPMarketing for all of your online marketing needs! Request a no-cost project analysis through our website today.