Marketing is the backbone of any business. Whether you are just starting, rebranding your organization, or already an established enterprise, marketing keeps you relevant to your customers.
For small businesses, marketing can be an indicator of how competitive you are. It helps you stand out from the crowd, carve a niche for yourself, and earn a sustainable revenue that fosters growth for your business. If you wish to achieve these results without putting a strain on your resources, there are a few things you can do to stand out.
Know Your Audience
Casting a wide net is a common mistake made by small businesses. After all, any revenue is better than nothing. However, this approach can be wasteful, as you may be marketing to a target audience that doesn’t care for your products or services.
Instead, you need to identify your target audience and cater to them. Consider a study from 2013 that shows 40.5% of consumers preferred targeted marketing. Customers want products and services that are for them.
Highlight Your Value Proposition
Why does a consumer prefer buying from you more than any of your competitors? The answer to this question is your value proposition. The value proposition effectively sways customers to you over other businesses. It could be your competitive pricing, extra features, attractive promos, and more.
It’s essentially what separates you from other businesses in your industry. When you’ve got it, why not promote it? Put your value proposition in the spotlight by reflecting on all of your marketing assets. When you promote it with outdoor banners or window signs, let the world know why your customers love you!
Invest in Marketing Collateral
Speaking of banners and signs, small businesses should also invest in a range of marketing assets to get the word out. While the capital expenditure of assets, such as banner stands, may be high, they offer long-term value. As for cyclic material, such as banners, window signs, decals, etc., they all are affordable and keep the ROI in view. Once you have a collection of marketing materials that you can use and reuse, you will be bringing in significant benefits.
Explore Content Marketing
There are several ways small businesses can use content in their favor. For instance, sharing a heartfelt video about the people running the business. You could even send newsletters to inform customers of any ongoing promotions. Alternatively, you could publish blogs and social media posts that value the reader. You can share brochures on maximizing the life and usability of the products you sell.
These forms of content can earn you new customers, retain old ones, and drive favorable results. Don’t be afraid to explore the potential of content marketing and use it to your advantage.
Incentivize the Referral Program
Sources suggest that consumers are 4x more likely to adopt a brand when referred by a friend or family member and proceed with a purchase. Plus, a referred customer offers LTV that is 16% higher! In other words, customer referrals are marketing tools for earning credibility and customer trust.
Small businesses must build attractive referral programs to tap into this opportunity. Simply starting the referral program is not enough. You’ll also have to advertise it extensively through window signs, banners, flyers, social media, and other marketing materials to promote word-of-mouth referrals.
Capture Customer Reviews
Like referrals, customer reviews are user-generated content that help businesses earn credibility and trust. Reviews and feedback effectively capture the customer experience, which molds general perception. Start by making it easier for customers to share their thoughts and feedback.
Offer this facility through offline and online channels, and encourage customers to share their inputs. Try to not only screen the positive reviews. Your honest response to negative reviews can show the authenticity of not only the reviews section, but also your business.
Partner With Other Small Businesses
Operating a small business on your own can be overwhelming, and when you are navigating the storms, every bit helps. Who can support you better than someone in the same boat? Partner with other small businesses to gain traction for not only your brand, but for their brand as well. This symbiotic relationship will generate major benefits.
Establish a Brand Presence
The core objective is branding at the crux of all your marketing activities. Work towards building a consistent brand experience that can earn you loyal customers, foster trust, and reinforce your business as a brand.
Start your branding efforts by incorporating similar visual elements across all marketing channels. From websites to banners to business cards and more! Next, follow the same tonality while contacting your customers over email, social media, customer support, etc. Finally, send the same message in all of your marketing campaigns to show uniformity in your brand’s image.
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