Small and medium enterprise (SME) owners have a responsibility to make sure that their business grows—this can be done by incorporating proper marketing strategies. My Business discusses effective marketing tips that any small and medium business can implement.
The marketing industry used to be confined only to big business players, but the rise of technology and social media has created opportunities for small businesses to make themselves known to their audience.
Small and medium business owners must take note of the following marketing tips:
- Invest in SEO
- Take advantage of free marketing resources
- Explore collaborations
- Provide outstanding customer service
- Take part in local events
- Seek out potential investors
Invest in SEO
Capitalising on search engine optimisation (SEO) is probably one of the smartest marketing decisions that small and medium business owners can make. A typical SEO strategy involves targeting customers with optimised keywords to increase the business’ website traffic and improve ranking on Google searches.
Having an effective SEO strategy is particularly beneficial for small businesses since a lot of potential customers look for services via Google searches, making it easier for businesses to reach their audience.
Although SEO is a worthy investment, the site’s visibility will depend on the business’ budget and its results aren’t as instantaneous as is expected.
Take advantage of free marketing resources
A good marketing strategy has to be effective without having to break the bank. For small and medium businesses, this can be done by capitalising on free marketing tools such as email and social media marketing. Businesses can opt to create profiles on Facebook, Instagram or Pinterest and easily reach out to customers by engaging in any of the platform’s features.
Email marketing, on the other hand, is a good way for businesses to establish an online presence by enabling businesses to be engaging and informative. This can be done by providing links to useful articles, tips and tricks and even discounts and giveaways to customers.
Investing in these marketing options will help small businesses make a name for themselves in their chosen industry and gain a loyal customer base.
Small and medium businesses need all the help they can get when it comes to promoting their products and services: exploring collaborations with other small businesses and social media influencers can aid the business’ marketing strategies.
Business owners can collaborate with other business owners and host giveaways, promos and events which can be beneficial for both businesses.
Companies can also tap social media influencers and ask them to market the business’ products. Tapping social media influencers—personalities with lots of followers online—can increase your business’ products’ reach to a wider audience.
Provide outstanding customer service
If a small and medium business doesn’t have the resources to invest heavily in marketing, capitalising on word-of-mouth and having exemplary customer services is as good as marketing the business to potential customers.
If a business’ customer service is personalised, responsive and efficient, it is highly likely that customers will recommend the business to family and friends—therefore extending the potential audience.
Businesses can further take advantage of this by introducing a referral system for customers where customers can get discounts and/or benefits for every referral made.
Take part in local events
Taking part in local events such as bazaars, community drives and fairs is a good marketing strategy for businesses: businesses can improve their visibility without having to spend a lot. Building a good reputation among customers is good for businesses who want to create a healthy brand image by sponsoring charity events, fairs and other social causes.
People tend to gravitate more to businesses with worthy causes, making it easier for business owners to create a good impression among their customers.
Seek out potential investors
The end-goal of every small and medium business owner should be the growth and expansion of their business. Seeking potential investors can be of great help: by maintaining a reputable image and investing in high-quality content businesses can pique the interest of these stakeholders.
Business owners are also encouraged to remain approachable and hospitable when it comes to helping investors understand the inner workings of the business and create strategies on how certain business needs can be addressed by these stakeholders.
Small and medium businesses might face tough competition against big players in their respective industries, but by using the tips listed above coupled with a limited budget, a good marketing strategy is not impossible.
With the right technology and innovation, SMEs can embark on an effective marketing plan anytime.