Here’s something to think about: a study from the Bureau of Labor Statistics show that almost half of business ventures crash and burn in about five years.
Thus, it’s vital to find the right marketing methods to stay afloat in today’s world.
This is especially true for small businesses because they have to go up against more prominent brands that have sizeable marketing staff – and a budget to go along with it.
Fortunately, small businesses have the advantage of being able to move faster and adapt more quickly to an ever-shifting landscape. With the right tools and strategies, they can grow and even thrive in a competitive market.
Here are some excellent but cost-effective ways to sell more and stay relevant:
1. LEVERAGE YOUR ANALYTICS
The fact of the matter is that all businesses output a significant amount of data every day. Whether it’s sales, emails, and social media posts, there’s always a data trail that any small business should keep a close eye on.
For instance, your sales analytics can help you identify which times of the year tend to be more profitable for the company. Also, looking at your demographics can tell you which type of people need your product or service the most.
Not only that, but you can also take a closer look at social media buzz. This offers a gold mine of customer feedback, which can help you improve existing products, create new ones, and address any potential issues.
So, it’s a good idea to go over your analytics, whether it’s Google, Facebook, Twitter, Pinterest, YouTube, and other types of online marketing channels.
You can use third-party tools such as Salesforce, Looker, and Hubspot Marketing to automate your analytics monitoring.
For social media, in particular, you can use the native analytics tools for each platform you have – or look into external services like Buffer Analyze, Sprout Social, and Hootsuite.
2. REACH OUT TO CUSTOMERS
After finding out what your client base wants (and doesn’t want), you’ll be able to anticipate trends and take advantage of them.
To do that, you need useful communication tools such as email marketing to let people know about relevant topics or interests that resonate with them.
This can range from a weekly email newsletter to promotional emails that offer seasonal discounts.
Furthermore, story-driven emails that offer entertaining, catchy, and valuable content are a great way to get people to respond and take action.
3. GO SOCIAL
It’s impossible nowadays to skip social media if you want your brand to get the exposure it needs.
Small businesses can easily gain traction on various platforms without having to put up a whole of cash upfront. It’s possible to start with a zero marketing budget when building a social media presence and trying to get more followers. Eventually, however, you’ll want to look into paid advertising within these platforms.
But even then, boosted content doesn’t always have to be expensive. You can control your budget and the amount spent daily or weekly on sites like Facebook, Twitter, and Pinterest. That way, you can spend on other aspects of your business operations as well.
4. GET VISUAL
While social media marketing is king, visual content reigns supreme in today’s digital world.
Studies show that more than 50% of consumers prefer videos and infographics over regular status updates or posts. Going visual allows you to communicate your brand message faster as it’s more easily absorbed than text-based content.
Nowadays, putting a video out for mass consumption is as easy as getting a decent smartphone, low-cost editing software, and creating a YouTube or Vimeo account. With a little keyword optimization and some tweaking, you can quickly reach a global audience.
The same applies to infographics. These are also easily shared by people and just as much potential to go viral as video content.
Also, you can polish videos and infographics on a small budget by going to sites like Upwork or Fiverr. You could even do it yourself for free via online editing apps such as Canva if you have a bit more time.
All in all, these four approaches to small business marketing are an excellent way to get more clients, establish your presence, and keep your brand fresh in the public eye.
You don’t have to exhaust your marketing budget to make an impact. With the right platform and the proper tools, you can effectively connect with your audience and get repeat business.