Every business, regardless of size, must have a marketing strategy in place to attract new customers. Small businesses often struggle because of limited resources, but thanks to advances in technology and the way consumers behave, effective marketing has never been more accessible. With this in mind, we’ve put together several ways that small businesses can approach marketing.
Know Your Target Demographic
No matter what your marketing budget is, your marketing plan has to start with research. You need to dive into local statistics to find out consumer incomes, gender, ages, pain points, and needs. Once you have this information to hand, we recommend creating a consumer profile, which details your perfect buyer. Knowing as much about your audience as possible allows you to decide where to target your marketing efforts, whether that be blogging, social media, or emails.
Have Market-Worthy Services or Products
You can have the best marketing strategy and content in the game, but that won’t change anything if the underlying product or service simply isn’t good enough. Therefore, you should spend time dissecting the benefits and assets of your products/services and relate them to customer pain points and problems. Essentially, you need to know that your product will fulfill your audience’s needs, and how it’s a better choice than your competitors.
Make it Experience Centric
People tend to choose businesses that offer the best experience, so show off what you can offer within your marketing techniques. For example, when most people hear Disneyland, images of laughter, families, and fun come to mind. You can tap into the experiences by understanding current reviews and transferring the stories into your content. Other than a time commitment, there doesn’t have to be any monetary costs attached to this approach.
Look into Outsourcing
As a small business, it may be challenging to find the money, time, and talent to execute a successful marketing strategy. Therefore, you should consider outsourcing all or part of the work to alleviate some of the pressure. For example, instead of hiring a content marketing officer (CMO) full-time that will break the budget, put your trust in a fractional CMO from Renaissance Digital Marketing. This expert will get to know your business, budget, operations, and goals to come up with a strategy tailored to your needs.
Track Your Marketing Efforts
There are so many ways for small businesses to approach marketing in 2023, but there’s no point in making an effort if you don’t know how well it’s working. You can do this by monitoring data to determine what works best for your audience. Once you understand how effective your marketing efforts are, you can decide where to target new content. For example, if you launched an email campaign, you can use analytics to find out how many people opened your emails.
Marketing is essential, but there’s often a misconception that successful marketing has to cost a fortune, which couldn’t be further from the truth in 2023. Although this article isn’t exhaustive, you should have a good idea of which direction to head.