If your revenue is in the billions of dollars and your marketing budget has seven figures, traditional blitz marketing will probably allow you to retain your market share. For the new venture, mom and pop or smaller business, we need to be smarter with our marketing and our money.

Researchers Whalen and Holloway propose that effectual marketing planning (EMP) is the way to go for smaller businesses. EMP takes in to account budget and uses long-term strategies to economically gain brand recognition and market shares.

Build up the Reviews

Traditional marketing tells us that we need to analyze our customer demographic and strategically market toward their needs. This makes a lot of sense and is a valid approach in theory but is not very practical for smaller businesses. Market research can cost upwards of $20,000 and you still have not done any advertising. This is where time and social media can help out. If you start early on your seasonal social media marketing you can build up a base of feedback which will give you an idea of your customers' needs. Creating a Facebook presence takes time, so start posting now.

Collaborative Impact

EMP promotes effective ways to generate marketing and business opportunities. After all, this is the goal of the small business owner. One sale may not make you rich but one contact to the right celeb or politico can change everything. Use your time before the holidays to make positive alliances with other non-competing advertisers.

The Buy Local movements are a good place to start. Local vendors all want the same as you. By allowing yourself enough leeway, you give enough time to pull together various businesses. From a practical point of view, collaborative advertising generates savings because of economy of scale. This is the same logic as buying from wholesale warehouses. On the marketing end, a group of like-minded businesses can rapidly turn into a cause which makes your marketing all the more actionable.

Leave Them Wanting More

A recent report from the Wall Street Journal finds that 53 percent of retailers planned to start their holiday advertising in September.

Take a look at Walmart’s Black Friday campaign strategy to see that the advertising does not need to be robust to be effective. The Walmart site shows consumers when to return and then directs them to other deals within the same page. It is enough information to engage the consumer without needing to play all of their cards with long term holiday deals. As you launch your marketing campaign, build some teasers that will let customers return without costing you a cent.

A Recipe for Success

A good marketing plan is like putting together a great soup. Each ingredient is added separately and at different times, combining to become one robust meal. Different customers need diverse things at various times during the holiday season.

The same research by Whalen and Holloway showed that gift baskets worked well using EMP for business-to-business sales. The company being researched used this information to revamp their baskets to penetrate a specialty market. Not only was this a sales success but the marketing for the baskets gave brand recognition to other customer demographics. Create your long-term marketing plan in little chunks where each piece can build on the component before it.