Top five how-to tips for marketing your small business or start-up.
There are plenty of marketing opportunities for new and small businesses and the local community enjoy responding to innovative and new ideas from local organisations like yours.
January is a great time to get your small business or start-up in shape and start growing it by investing in essential marketing activities. By employing digital marketing strategies and techniques, you will help boost traffic to your website and increase sales.
Here are my top tips for growing your small business.
1. Make new connections with social media marketing.
Social media is a great way to reach out to your target audience. So, find out which channels your potential customers use and engage with them there. Small businesses that market themselves through social media networks can use a range of online marketing tactics to grow their audience:
Pay-per-click ads
Blogging
Video
Whichever method you choose, when starting a new marketing campaign it's sensible to start small, try different approaches and see which activity obtains the best results. For example, Facebook's A/B testing is an excellent way to determine what works best for your target audience. This technique helps reduce the risk of investing in low-return marketing activities.
2. Refine your spending habits.
You don't need a large marketing budget to market your products and ideas. With a modest sum you can develop your brand and spread the word about your organisation, even during a cost of living crisis! A little money spent wisely and consistently will help you get to where you want to be.
However, to invest wisely you must measure the success of your marketing efforts by monitoring your return on investment (ROI). So first establish your marketing budget and then set what you feel would be a sensible return for your time and money. This will help you set your ideal ROI. Doing this will help you determine whether your marketing efforts are a success. As a small business you can try things on a small scale, drop marketing methods that aren't working for you and concentrate on those that are. Then, fine-tune and hone your strategies toward the marketing efforts that provide the most significant ROI.
Use your ROI statistics to measure how much you made in revenue compared to how much you spent on each campaign. Then, even if one of your initiatives failed or had a low return on investment you can use this information to improve your marketing strategy in the future.
3. Refine your target audience and reduce your marketing costs.
As a small business owner you should prioritise qualitative marketing over quantitative marketing. Start by breaking down your target audience into smaller niche groups and focusing your marketing spend on each group individually. Focusing on smaller niche groups will allow you to tailor your marketing message to each group. This will lower your marketing costs while the likelihood of converting your leads into customers will be higher.
4. Give something away for free.
Use 'lead magnets' to build trust with your target audience and grow your consumer base. By giving away special offers, free trials, how-to guides, e-books and free consultations you'll attract more leads who want to try your products or services. This is a successful strategy for small businesses and start-ups wishing to convert them into fully paid-up customers. Everyone likes a freebie!
5. Get involved with events.
How will your business sell its goods and services if no one knows you exist? For local businesses it's essential to raise your business profile in the local community by participating in social events. These gatherings help you connect with potential customers, suppliers and other influencers who can help you market and sell your products.
Attend local events such as networking events, business expos and local fairs. A wedding fair for example may allow florists, photographers and videographers to meet with bridal shops, car hire companies, caterers, small hotels and venues. Attending these events will help you build brand awareness of your business which will ultimately help you promote it on a larger scale.
Summing up.
As a small business owner you publicly represent your small business or start-up. It's your responsibility to market your organisation to increase brand awareness, attract more leads and turn those leads into customers as this results in more sales. There are many ways to market your business, most will require expertise and investment.
Getting started might feel daunting, but it doesn't have to be, not if you start on a small scale. Also, a common misconception is that marketing is expensive and out of reach to small businesses and start-ups. If you follow my top five how-to tips for marketing your small business on a budget you'll be fine. So, in summary:
Market your business through the correct digital channels.
Keep control of finances by fine-tuning your marketing activities and measuring ROI.
Reduce costs and increase sales by developing niche target audiences.
Give freebies to build trust, attract more leads and increase the likelihood of converting these to sales.
Finally, put your business on the map by attending networking events, business expos and local fairs.
These actions will support your marketing efforts and make a great impression on customers which will help your business grow.
For further information on how we can support your marketing activities reach out to us at hello@wightsquare.co.uk
