Running a small business is much different from running a huge enterprise mostly because you’re operating on a tighter budget. This means that every decision that you make, makes a bigger impact. A mistake is felt more severely and a triumph grows your influence exponentially rather than linearly.
Also, as a small enterprise owner, you’ll have to handle a lot of issues on your own. Sure, outsourcing is always an option but even this is not so simple. How will you know when the time is right for you to outsource? Is there a way for you to tell which agency is the right fit for your brand? Are you really getting your money’s worth from this deal?
All in all, here are six essential marketing tips that all small businesses should hear.
Learn about your audience
You need to be constantly on the lookout for new trends that your audience is currently following. Sure, your audience may currently have their own preferences but what if something massive changes.
For instance, TikTok is currently a massive social network amongst the younger population but this app was launched as late as September 2017. This means that if we talked about digital marketing in August 2017 (which was just 4 years ago), this massive factor wouldn’t be in the equation.
The same goes for various forums and subreddits. For instance, earlier this year, stocks of GameStop exploded in value due to the subreddit WallStreetBets. This made the popularity of the subreddit in question blow up in popularity. It also allowed it to attract demographics that never before cared much for it.
In other words, believing that you know the online habits, patterns and behaviours of your clients is a grievous mistake. Your work is never really done.
Examine your value proposition
The next thing you need to do is understand how you are perceived by your audience. You need to examine the value of your proposition through the eyes of your average customers and see just how impressive it looks. Also, keep in mind that you need to compare it to the offers of your closest competitors.
So, you need to understand that the value of your proposition is incredibly important for your long-term strategy. Sometimes, the key is in providing extra value for your audience in order to increase the overall appeal of your brand. This is far from simple and it may require a much bigger pivot than you initially expect.
There are also several ways to make a great value offer that you should introduce:
- Try to prove or demonstrate value by showing what you’re selling in action.
- Give them more insight into the product/service than your competitors do.
- Try to formulate urgency (FOMO).
While these three are handy tricks, they are also something that you can come to rely on.
Look for methods that give immediate results
From the very start, it’s incredibly important that you understand that there are two types of marketing methods. Those that give immediate results and those that generate results over the course of time. Now, it’s not always as easy to tell these apart.
The biggest problem, according to SEO Sydney experts, is the fact that this is not always a clear cut. In their respective field, for instance, there are both immediate and long-term results. For instance, after a successful campaign, there will be an immediate bump in traffic (due to increased visibility). However, it might take some time for your site to get ranked particularly high.
Just remember that while immediate results aren’t a high priority, they are still quite important. Sometimes, you need immediate value in order to go through a crisis. Also, you shouldn’t underestimate the importance of motivation. Namely, having techniques that give immediate results will show you that you’re spending your money on effective techniques.
Blogging generates an immense amount of value
Blogging generates quite a bit of value for any brand. First of all, it’s a low-investment method for generating quite a bit of traffic. In other words, it has a great ROI.
It also doesn’t require an investment in resources but an investment in time, instead. In 2020, it took roughly 3 hours and 55 minutes to produce an average blog post. Compare the time it takes to produce this piece with the lifecycle of an average post and you will see that it’s more than a fair deal.
For your audience, this is something even better. They get some free advice or unique industry insight from someone of authority. The accent is on the word FREE, seeing as how they get to benefit from your online presence, without buying your products, etc. This is, in a way, similar to a trial period – they get something for free.
Most importantly, blogging gives people a reason to return to your content, which makes them reengage with your business. In other words, it’s a step in the right direction towards harnessing brand loyalty. For you, this can be a foot in the door or a way to retain them and make them come back over and over again.
Email for engaging and retargeting
Retargeting is the best way to generate return business, which is a trend incredibly important for the longevity of your business. Using emails to do so is the best, most cost-effective way of handling the situation. Still, your first priority is to figure out who you should retarget. These are:
- People who never completed the purchase (abandoned shopping cart).
- People who looked at a particular category for a while before leaving.
- People who returned multiple times to the same page.
- Existing customers who haven’t visited you for a while.
Each of these groups is valuable in its own right.
Even more importantly, by identifying the group, it will already be evident what you should offer them. While the format and your email list matter, it’s your offer that will make the difference. For instance, if they returned several times to the same page, they might need a slight discount as a push (or a FOMO). A customer who hasn’t returned for a while might need something new in order to renew their interest, etc.
The nature of these emails is also quite important. Try to be respectful and not too pushy. Simply remind them that you’re there and that you may have something that they should be interested in. That’s it!
Make investments in ads
You can’t expect to generate value from your marketing without making an investment of any kind. However, in order to make this work, you need to handle a couple of things first. You need to start by making a digital marketing budget or an advertising budget.
Second, you need to ensure that you identify your target audience and compose a simple, single message. In an ad, you will have a limited amount of space. Therefore, your message needs to be concise.
You also need to make sure that you have a careful plan of what comes next. Sure, they see your ad, does the story ends here? Where do they click? Where does this lead them? Keep in mind that your ads are just a part of the journey, more likely than not, an initial part. This is why you need to make sure that everything that happens afterwards counts, otherwise, the ad itself, good as it may be, will have been for nothing.
By following these six simple principles, you will find new ways to approach your marketing efforts and ensure that you grow your corporate presence (both online and offline). While this is far from easy and definitely not something you can do without a lot of planning, effort and investments, it is definitely worth your while. Understanding your marketing is one of the most important prerequisites for success as a small enterprise.