Good marketing strategies can either make or break companies and can seem impossibly daunting at first, especially for small businesses. Fortunately, putting together an efficient and more importantly, productive marketing plan does not require extensive knowledge nor an expensive team of experts.
Using a simple cost-effective approach and keeping important principles in mind is the best way to advertise your small business and cultivate a loyal customer base.
Related articles: Marketing secrets for small business owners
Target Your Niche with a Plan
The first and most important step in developing good advertisement is knowing your target audience. If you try to reach everybody, you’ll end up connecting with nobody.
By focusing on a niche market, you are marketing a service and product to people who actually have the potential of opening their wallets.
Specificity also ensures that dollars are not wasted on people who have no interest in what you’re offering. Speaking of money, it’s essential to create a well thought out budget before you begin, preferably with a buffer built in to account for inevitable mistakes.
By writing it down and outlining a clear spending limit, you set a clear standard for both yourself and your team that promotes consistency. A budget also helps prevent you from running wild and costing more money than the marketing brings in.
If you do nothing else, identifying a specific market and developing a budget already puts you ahead of most of the competition.
Use a Variety of Strategies
In a world dominated by technology, it can be easy to forget the power of physical marketing tools. Business cards, brochures, signage, magazine advertisement sections and other hardcopy materials still have a place in a good marketing strategy.
In fact, as more businesses move into online only, establishing your brand as a real, physical entity can build a sense of trust and authenticity that sets you apart.
In the same vein, engaging in the community through local charities and networking event will let others identify you as a valuable, worthwhile person, worthy of their support.
This does not insinuate that a strong web presence is not important. A professionally designed website is a prerequisite in today’s day and age.
If people cannot find you on the internet, all other marketing strategies are rendered useless. Striking a balance between online access and physical tools will promote your small business in a well-rounded manner.
Engaging with your clients through newsletters, email and social media makes customers feel as though they have a stake in your brand.
Consistent contact fosters a sense of unity that will get people coming back time and time again. If you don’t already, offer an option to subscribe to a weekly or bi-weekly newsletter that provides updates on your business and any sales or promotions that may be occurring.
Collecting a good database of customers is an easy way to continuously market yourself to an ever-growing audience. Additionally, showcasing your brands’ personality through social media provides a cost-free way to have some fun and reach a broad prospective client base.
Regularly scheduled social media posting reminds people of all the exciting things going on with your business and encourages them to frequent your website.
Take Action Today
While developing a marketing strategy for your small business may feel impossible, utilizing the tips in this article can help you begin growing your brand today.
Sit down for a few minutes and highlight some possible ideas. Continue developing your plan and start with simple actionable steps like ordering business cards, signing up for a local networking event or creating an Instagram page.
Revisit your strategy often and be flexible as things change. In the end, marketing efforts will feel forced if they lie or promise false returns, so remain honest and you will reap significant rewards in the long-term.
Reward customer loyalty
It costs 5times more to acquire new customers than it does to keep current ones. Focus on your current customers and their satisfaction because loyal customers spend 18% more. Having a great product isn’t enough. you need to create an outstanding customer experience by rewarding the loyal ones.
Running a successful business requires time and effort. Because of this concept, many small business owners confuse activity with progress. Work smart and not hard.
While you’re doing the other things to grow your business, it is very important to remember that your business depends on clients, so focus on getting new clients and keeping existing clients happy.
You may also want to read this: How not to get things done and achieve none of your goals