Marketing Strategy Examples For Small Business – As a small business owner, you already know you need a solid marketing plan, but you may not know how to create an effective strategy. Should you stick to your tried and true marketing strategy or mix it up with a new approach? How do you choose and build the right marketing strategy for your small business when there are dozens of options?
Here’s what you need to know to create and implement a successful marketing strategy for your small business.
Marketing Strategy Examples For Small Business
Building a marketing strategy for a small business can be overwhelming, especially when it comes to online marketing options. There are many different methods and hundreds of articles claiming to know the “most effective” strategy.
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In fact, the best marketing strategy for your small business” depends on your specific audience and your business model.
Before we discuss how to choose the right strategy for your business, let’s take a look at six of the best marketing tools for small businesses.
Email marketing allows small businesses to connect directly with customers and prospects who have expressed a clear interest in your business. It is one of the most effective strategies for building relationships that turn interested prospects into actual customers. As a small business owner, your email list, consisting of the email addresses your prospects (or potential customers) and customers have given you, is one of your most valuable assets. That’s why building an email list should be a priority.
Social media marketing can help your small business reach thousands of customers and potential customers. However, many small business marketers are overwhelmed by the number of different platforms. Should you be on Facebook, LinkedIn, Instagram or Twitter?
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Instead of trying to be active on every platform, find one or two platforms where your customers are most active and focus there. Share informative and useful posts related to your industry – not just product content aimed at driving sales.
Content marketing is about creating and sharing useful and insightful content that is relevant to your brand or your audience’s interests. This content should establish your business as an expert in your field and show your customers that you can be trusted . For example, a restaurant can share takeout safety content or cooking tips, while a dentist’s office can create a guide on how to brush your teeth or when to take a child to their first dental appointment.
Pay-per-click marketing allows you to create targeted ads that introduce your business to Internet users through search engines like Google or Bing. These ads appear on websites across the web, often at the top of a web page, embedded in content, or in the sidebar of a web page. When using PPC, you choose terms that you think customers are likely to use when searching for your company’s products or services. Although PPC is a bit complicated, especially for beginners, it can be a very effective strategy for generating both traffic on site as well as pedestrian traffic.
Referral marketing rewards current customers for referring your product or service to their friends and family. For example, you could offer a 10% discount to current customers and their friends if they use a certain link or code. Referral marketing is a low-cost strategy that encourages word-of-mouth marketing, one of the most reliable and effective marketing strategies for small businesses.
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Event marketing is an experiential marketing strategy where brands promote their business through face-to-face or digital events such as classes, conferences or happy hours. Connecting with people in person or at events can create stronger bonds that can be leveraged to drive sales, increase brand trust, and increase brand awareness.
Now that we’ve covered some basic small business marketing strategies, let’s talk about how to figure out which marketing strategies will work for your brand.
Your marketing strategy should be a long-term plan to help your business reach more customers and create a sustainable business. Building a successful small business marketing strategy starts with understanding where you are and where you want your business to go.
Before creating or revamping your company’s marketing strategy, the first step is to understand your marketing strengths and weaknesses. Make a list of current and past marketing strategies you’ve tried, including results and costs. Next, note your current marketing assets – do you have a strong email list, a large Facebook following, or a successful campaign? These details will guide you in the next steps.
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Who is your primary audience? Who do you want to target? Many small business owners think that their current audience is their ideal audience, which is not always the case.
Start by asking what problem your product solves and then outline who is most likely to need that solution. Then compare that audience to your current customer base. You may find that your current audience isn’t the best fit for your product. Conducting market research can provide additional insight into the identity of your ideal audience – and therefore your target customers.
Small businesses do not have unlimited resources and must be careful where they focus their attention and resources. Spending $100,000 on PPC campaigns and billboards might bring in a lot of customers, but it’s unlikely to fit into a small business’s marketing budget.
Write down your monthly marketing budget and consider the resources you have, such as marketing platforms. Include the amount of money you can spend specifically on marketing initiatives and the internal resources you can rely on, such as an email list or employees with social media marketing experience.
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Now that you understand where you are, who you want to target, and the resources available, it’s time to figure out which first-party strategy is easiest to implement.
For example, if your business has a dedicated social media following, a target audience between the ages of 20 and 35, and a low monthly budget, then referral marketing may be the best option. It requires little initial investment and can grow the power of a dedicated fan base. On the other hand, if you have a strong email list but haven’t been sending regular email campaigns, it might be time to invest in an email marketing course to better utilize your list.
Once you’ve established your strategy, outline your goals. Do you want to increase sales of a specific product, increase website traffic or increase brand awareness? The goal should be specific, such as “Increase sales of product X by 20% in the next three months.”
As a small business owner, you probably have a lot on your plate. It can be time-consuming to spend money and resources on a new marketing strategy, only to find that it doesn’t work as well as you’d hoped.
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Instead of getting frustrated, focus on testing different approaches. If your content marketing isn’t converting, do some research to find out if your content is useful to your target audience and where they are in the buying process. If email marketing isn’t increasing the number of sales-qualified leads (SQL), run A/B tests: try different subject lines, reword the call-to-action (CTA), or send emails at different times of the day.
The right small business marketing strategy can make a big difference in the success of your small business. While there are many ways to market your products and services, the strategies above tend to be the most effective for small businesses. Start by choosing one or two strategies and then test to see what works for your company.
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