In this article, we shall be outlining the best and worst marketing strategy(ies) for small businesses. As a matter of fact small businesses have a lot of advantages. They are nimble and can react quickly to new opportunities. They also generally have much lower overhead as well as far less red tape to cut through in order to get things done. However, with all these benefits come some drawbacks that are not so obvious when you’re running a small business rather than an enterprise with thousands of employees, multiple locations and offices around the country.
On the whole, finding a good marketing strategy is more challenging for a small business than it would be for a large one. You need to strike the right balance between being memorable, but not creepy; clever without being too clever; accessible without being too casual; honest without coming off as lame or pandering; and on and on…
So what are some of the best marketing strategies for your small business? Let’s take a look at some of the most successful small businesses that have thrived because of their marketing efforts, coupled with some examples of companies that failed because they overlooked something essential in their advertising plan.
Keep Content Marketing At The Center Of Your Strategy
The content marketing strategy that worked so well for you in the early days of your company may not be enough now that you are more established. The first thing to do is to take a look at the type of content you are producing.
It’s crucial that you tell your story in a way that is consistent across all your platforms, but also keeps things fresh and interesting. You should also pay close attention to what is trending in your industry.
If there are certain topics that keep popping up, it’s worth diving into them in order to see if you can add something unique to the discussion. The overall theme is that you should be producing content that is relevant and valuable to your audience, but also unique enough to set you apart from the noise.
Run A Contest Or Game To Increase Brand Awareness
This marketing strategy really works, many brands have been doing this for decades, it remains one of the best ways to increase your brand awareness. Contests and games that people can get involved with in exchange for sharing your content can be extremely effective, with the right structure. Make sure it is something that will appeal to your audience.
That way, they are more likely to want to share it with their friends and family. A classic example of this is the “daily dot” that many newspapers run at the end of each month.
Readers have to solve a puzzle or riddle in order to find out the daily amount that they have to pay for the paper. If they get the answer right, they get a discount on their subscription.
Don’t Forget About Video Marketing
As technology has evolved, more and more businesses have been using video as a medium. This makes a lot of sense. After all, video is more engaging than text and is great for conveying information quickly. There are lots of different ways to incorporate video into the marketing strategy for your small business.
You can use it to introduce yourself, explain how your product works, or even host webinars and podcasts. Regardless of what type of video you choose to create, make sure you give it a title and description that makes it easy for people to find it when they are scanning their social media feeds.
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Use Native Advertising To Build Brand Awareness And Establish Expertise
Native advertising has been around for a few years now and continues to grow in popularity and this has been one of the secret marketing strategy for many successful businesses. This is a form of advertising that fits seamlessly into the content of your website or blog posts so that people don’t even realize it is an ad.
Native ads are effective because they have a much higher click-through rate than traditional banner ads. You can use them to build brand awareness and establish your expertise in your industry.
You can also use them to drive traffic to your site, which can then be redirected to a product page or a page where customers can sign up for a free trial.
Offer Employee Training And Development In Exchange For Equity
One of the best marketing strategy to attract and retain great employees is to offer them equity in the company. This works especially well with digital marketing agencies that bring in a lot of work from clients. Rather than paying employees a flat rate with no bonus (or even a small percentage), you can offer them a piece of the pie.
Make sure that the terms of the deal are clear and easy to understand, and that everyone signs a contract with their lawyer before the decision is finalized. This option is only open to certain types of companies, but it can be a very attractive prospect for potential employees.
It can also make you money if your company is successful and you decide to sell your equity to another business in the future.
These are just a few examples among numerous marketing strategy (ies) you adapt to grow your brand. You can also look at customer feedback to find out what the best marketing strategies for your small business are. If you are implementing a new marketing strategy, it is critical to track your results and see how many customers you are bringing in as a result of your effort.
In fact, there are quite a few tools out there to help you with marketing analytics. For example, you can use Google Analytics to determine which marketing strategy is working best. You can also use a website analytics tool to track your marketing ROI to make sure your efforts are paying off.
If you want to succeed as a small business owner, you must be willing to invest in your marketing efforts and possibly adapt a better a better marketing strategy.
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