Small Business Marketing: What Biz Owners Need to Know

Small Business Marketing: What Every Business Owner Needs to Know

If you’re a small business owner trying to compete with the big fish, marketing your business can seem daunting when you compare your budget to that of a corporate. But whether you’re planning to launch a new business or already have one, the best way to market your business is not necessarily the most expensive.

The most effective marketing strategy is one that is custom to your business and targeted to the right audience. From traditional marketing to digital, we take a look at how to market your business for maximum results.  

Why is Marketing Important for Small Businesses?

Establishing an amazing business is merely the first step. Business and marketing must go together if you want to keep your business afloat.

Marketing is a way to create awareness among potential clients, giving them an in-depth understanding of how your business works. The more brand recognition you establish, the more sales and business growth you can expect.

Marketing is especially important for small businesses if they want to compete in the big leagues. Getting a piece of the market share would be impossible without a solid marketing strategy which capitalizes on their strengths. One advantage smaller businesses have is the ability to provide personalized service to the customer. However, a relationship can only be created once a customer has discovered your product or service. 

Core Components of a
Small Business Marketing Plan

With the myriad of marketing tips for small business owners out there, coming up with marketing strategies for small business environments should involve the following:

Define Your Goals

Do you want to grow sales, retain customers, or grow an online following? All goals will lead to increased income and growth. But breaking down the larger objectives into smaller, actionable steps will help make achieving your goals easier which protects your time, effort, and resources.

Identify your Target Market

Market research is something that even those doing local business marketing should take advantage of. You may have an ideal customer in mind but market research will show you who is really buying your products or services.

Identify the Platforms to Use

From social media marketing to posters and flyers, there are many offline and online ways to reach your customer. Based on your research, choose the platforms your target audience uses the most.

Design a Campaign

With all the parameters set, it’s time to outline what your marketing efforts will look like. Your campaign should have a title, goals, channels, the period, budgets, and reviews set out before you start. Remember to slot in regular review sessions.

Online Marketing vs Traditional Marketing

Online marketing has been touted as the salvation for small business marketing due to its relatively low costs and simplicity of execution, but there is still something to be said of traditional methods. Every industry is different and how to market a small business ultimately depends on brand personality, the age demographic of the target audience, location, and a lot more. 

Choosing the approach to take involves becoming familiar with the key difference between the two: Traditional marketing entails any marketing strategy that was deployed before the Internet such as magazine ads, mailers, and door-to-door fliers, as well as TV and radio commercials. While Internet marketing is used to describe any advertising efforts that occur online, such as email and social media marketing, content marketing, and search engine optimization (SEO). 

Online marketing channels such as social media allow for more fluid and personalized messaging, but while traditional marketing tactics are usually more general, they can reach a broader audience.

Traditional marketing is also a great way to reach older audiences that might not use the Internet as much and comes in handy during events such as exhibitions. 

The most ideal marketing strategies for small business growth employ both offline and online channels in tandem.

Cost-effective Marketing Tactics for Small Businesses

When all is said and done, the main objective for small business marketing should be to achieve a high return on investment for minimum spend.

Some cost-effective marketing ideas for small business owners include:

Networking

Joining professional organizations and attending conferences and other networking events is a fast and easy way to get known in your local area.

Social Media Marketing

Almost everyone is connecting online, so it’s a great way to reach prospects and customers. Done right, it can be one of your most effective tools.

Internet Marketing

Channels such as search engines, email marketing, and websites can be used for personalized marketing like never before.

Gifts and Coupons

From gift cards to promotional items, making your customers feel special will create loyalty to your brand.

Co-Marketing

Pairing with a business in your area that offers a complementary product can extend your customer base.

Small business marketing is all about finding a customized approach that works. At LeadJig, we provide you with all the marketing tools and data necessary to track spending, make better decisions, and maximize your chances of success. Talk to us to learn more about how we can propel your small business to success.

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