Small business marketing tips
You will learn
- The importance of finding the right marketing mix
Ensuring your small business marketing strategy is effective and producing the right results doesn’t have to be difficult.
Put simply, ‘marketing’ is the selling of a product or service to a ‘target audience’, and the associated measures put in place to ensure that audience is made aware of it.
To sell a product or service to a wider audience we use ‘promotion’ and ‘publicity’, where we tell the target audience about the offering. To differentiate one company’s product or service from another, we need to create a solid and identifiable ‘brand’. This ‘brand identity’ is built using a variety of small business marketing tools. These tools are items such as advertising, supporting literature and websites, and should be designed to reflect a brand’s identity, and include any ‘Unique Selling Points’ (USPs) – that is, the key features of a product or service that differentiate it from its competitors.
So, marketing is made up from many individual tools, that to be effective, must be carefully designed to provide optimum results. The skill here is twofold. The first is to create effective messaging about the product or service via high-quality copywriting. Copywriting, (or ‘Content’ as it can also be referred to), is the essential building block that feeds all the component items in your marketing output – so therefore needs to be carefully and consistently crafted.
The second thing to consider, is the allocation of available spend across the right mix of marketing activities, to establish a well balanced strategy aimed at fulfilling your company's sales & marketing goals. No matter what the size of business or budget, all marketing efforts need to have a direct bearing on company sales; so making each pound of your marketing budget work the hardest it can is vital.
No matter what type of business you are in, the development of a brand and the tools used to promote it can be varied. You should always consider a marketing mix that may include advertising, PR, case studies, product and corporate literature, social media, website design (and management), and eNews campaigns – to put across your messaging and build your brand effectively.
Many businesses rely on growing their customer base by word of mouth alone, but this strategy returns only limited growth. Whereas building a solid marketing campaign to influence a wider audience and can make a real difference to a business - where smart marketing produces solid results.
No matter what the size of available budget, a well-distributed marketing budget is the fundamental ingredient for profitability and growth. So think about how best to create the right mix of marketing activity. This may not be easy, but once achieved, the benefits will provide an essential component to any company’s growth.