When people think of marketing, they often visualize commercials on TV. We often consider the bigger, more in-your-face marketing campaigns to be the most effective. But this isn’t necessarily true. It costs a lot of money to run an ad on TV. At the end of the day, your marketing should be making you more money than it costs you.
It’s typically smartest to use strategies that deliver the greatest proportional return before attempting anything colossal. Plus, most SMBs don’t have the budget to spend a ton of cash on marketing campaigns. Here are seven often overlooked SMB marketing tips that will get you the most bang for your buck.
Determine Your Ideal Customer
Some business owners work on the assumption that all customers are the same. Their dollars might hold the same value, but not all consumers are the same to your organization. Essentially, some customers are more likely to grow loyal to your brand. These are a few key steps in identifying your ideal customer:
- Think about how your product or service might be used and perceived from the consumer’s standpoint.
- Who do you think is most likely to use your goods?
- Consider demographics (location, age, education level, etc.).
Figure Out New Promotional Offers
Promotions aren’t a new idea. Business owners have been using them to generate greater cash flow for a long time. It’s your job to get creative with promotions in order to hook in as many potential customers as possible. Promotions are fantastic because you can simultaneously make money while you’re marketing to people. Customer acquisition cost is one of the most important marketing metrics. Using promotions can significantly lower this because you’ll get more conversions when potential customers see an immediate benefit.
Revamp Your Website
Sometimes the best way to improve your marketing is to start from the ground floor. Is your online presence attractive to potential customers? People don’t want to engage with clunky, or unattractive websites. It’s well within the budget of small businesses to use a web hosting platform to build a whole new site. This typically includes a variety of professional templates, domain registration, and strong customer service.
Make Mobile a Priority
It’s important for business owners to prioritize mobile accessibility when trying to improve their marketing approach. You should run on the premise that the majority of your leads will happen through mobile devices. More and more, people are using smartphones and tablets to conduct their searches. First, you need to ensure your website looks good on mobile. After that, place your contact information in an obvious place, so people don’t need to look through a bunch of little menus on their phone. Doing these things will boost your conversions.
Go to Networking Events
Not everyone likes to network. For some, it can feel awkward and needlessly self-promotional. However, that’s sometimes what you need to do in order to spread the word about your SMB. There are networking and industry events for just about everything. Look up a few that coincide with your particular business. Attending these events will get you in contact with other people more or less in your same position. It’s possible you’ll learn something valuable—or even meet mentors or partners.
Business owners sometimes get into the habit of thinking it’s them against the world. While you want to guarantee your own success, you don’t need to think of things with such a zero-sum mentality. Hyperlocal partnerships are a great tool for SMBs! Try thinking of creative ways to build relationships with other organizations in your area where both parties receive a benefit. It can be as simple as a “Shop here, get a discount there” type of promotion. There’s no limit to how you can use this type of arrangement to your advantage.
Keep in Contact with Current Customers
As already stated, customer acquisition cost is a hugely important factor to consider when running a business. It’s much more cost-effective to keep relationships with customers than to find new ones. This is why you should always keep in contact with people after they shop at your business. Email marketing is still one of the most effective ways to stay connected with customers. Let them know about promotions or new products. When you’re on the minds of consumers, they’ll be more likely to come back.
Marketing can seem like a massive challenge for SMB owners, especially those with little to no experience in it. However, it’s possible to get value from your marketing efforts, even when you don’t have a ton of capital. Consider these tips when concentrating on your own marketing ideas.