Are you tired of business failures? It takes resilience and effort to build a business that stands the test of competitive edginess in today’s business world. It is not easy to grow a business even after discovering a niche that is quite profitable.
The target market needs information on a regular basis and hence this requires viable marketing strategies for the business to churn profit and stay afloat.
To achieve success, modern business models adapt strategies that embrace technological advancements as compared to conventional methods.
According to Bijmolt, Frambach and Verhallen’s (2010) Strategic marketing research, market definition, environmental analysis and marketing strategies formulation are fundamental to business growth.
Moreover, as a strategist, you should consider more than one strategy, which will definitely grow your business to the next level. However, finding the precise strategies to implement in marketing small businesses is paramount.
How do you reach your target market effectively? Evidence shows that small businesses thrive if the audience is well targeted; therefore, entrepreneurs should adopt different strategies to grow their business effectively.
Following are 10 Effective Marketing Strategies to Boost Your Small Business
#1. Use Social Media
Facebook currently advertises two million small businesses on its platform. It is a cost-effective and affordable marketing strategy that reaches different audiences. The emergence of different social networks improves the sales of small businesses globally.
What is more, today some businesses grow entirely through social networks. Amassing followers is quite a challenge, but it gets easier with time.
Thus, to become successful and known, post relevant information on your timeline and market your products and services by being your own brand ambassador.
#2. Specific Target Market
The reason why most small businesses fail is that they do not target the specific audience intended for their products and services. Advertising campaigns, whether online or in print form should ensure that the target market is effectively reached.
In this way, understanding the needs and interests of consumers can assist you to achieve respective goals effectively in accomplishing your marketing plan.
Your business is your brand, so choose your image and stick to it. Most consumers identify and respond to familiar advertisements because of consistent branding, and resonance is a vital aspect of branding. Keep in mind that changing your brand regularly creates ineffective marketing and hence results in reduced sales.
Moreover, you need to be persistent in the marketing efforts. For instance, brands such as Coca-Cola are globally known for their consistency in image and advertising. Even though the market already knows its products, they still spend money on regular advertising.
You can also reap the benefits of branding in the long run if you invest persistently in increasing your brand’s recognizability.
Your messages should be conveyed at the intended place and time for effectiveness. This will cut down advertising costs implemented in the irrelevant places.
#5. Marketing Your Content
This strategy has a great impact on businesses today since it involves creation and distribution of reliable, valued and appropriate content to distinct target markets. This marketing strategy does not pay off immediately because it is a long-term endeavor requiring specific elements to be accurate such as:
- Quality of content
- Relevant topics
- SEO optimized content
- Reader optimized texts
- Consistency in the creation
Content usually includes blogs, podcasts, videos, and various platforms people access information.
#6. Employee Incentives
These cut across all organizations as a motivational tool, and thus, it is normally used as a marketing strategy.
Motivated employees love their company brand and they will market it to their friends and acquaintances outside the workplace. This will cause a ripple effect through referrals and hence result in effective marketing.
Give incentives to employees who refer clients to your brand. Apart from monetary, incentives can also be in other forms:
- An extra day off
- Vouchers to movies, spa massages, dinner
- Publication subscriptions
Hold training and team building sessions to teach your employees on how to market your business but this strategy can only work if your employees are genuinely motivated.
Using email as a marketing tool is one of the most efficient ways of interacting with prospective clients. Most websites appeal to visitors to give out their email addresses in exchange for valuable information and services such as free downloads, free trial services, etc.
Once visitors subscribe, you will have the authority to provide valuable information to them through email. Some of its benefits include:
- Ability to reach a global audience
- Easy automation
- Easy segmentation
- Instant communication
- Easy setup
- Easy tracking and optimizing
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A webinar is an online seminar in a form of discussion, presentation or demonstration. Webinars are used to strengthen the credibility with current subscribers on your email list. Moreover, they are used for both recorded and live training.
Also, the recorded webinars are viewed as independent products. They are more interactive compared than videos because they have Q&A sessions which make subscribers feel more valued.
#9. Free Consultation
Consumers want professionalism in service delivery and hence accessible expert information. Thus, promoting free consultations regularly places your business on a pedestal. This enhances trust and people who value quality services will definitely hire you.
This strategy is used both offline and online; for instance, on print media advertising and social media networks. However, it is advisable for only expert service and high-end businesses.
#10. Print Media
This form of advertising is gradually decreasing since the world is embracing the diverse digital platforms. However, print media is still in existence and some businesses still thrive in its credit.
As its popularity decreases, advertisement pricing also decreases, so you can place advertisements in the right niche markets for a quite affordable price.
While all these marketing strategies are effective, probably half are suitable fits for your business. One of the above channels will grow your business to higher heights.
Study your clientele base, their demographics, needs, and interests; then undertake strategic tests to know the right marketing tools to use. These methods will definitely help you to achieve a greater return on investment into marketing efforts.