Developing a business idea into a great company is the product of various factors. However, marketing is one of the tools that can boost an SME until it becomes a large industry or business.
More than just thinking about advertising, marketing represents a set of promotion, analysis and strategic growth mechanisms that any company can implement to boost its sales.
Formerly considered a luxury for huge companies, marketing today is within the reach of any company and if we place ourselves on the digital plane, it becomes even more accessible and necessary to compete.
8 Marketing Keys For Small Business
- Marketing should be seen as an investment. Since it is not cheap or measurable in the short term, marketing is a key investment that in the medium term will represent important achievements in terms of sales and customer loyalty.
- Self-analyze your company. Develop a self-analysis stage in which you determine the level of efficiency of your company. Evaluate procedures, quality of service, product quality and speed of response. It is also important to analyze the mechanisms for handling complaints.
- Identify your unique competitive advantages. Determine what makes you different from your competition. What can you offer that they don’t have and what can serve as a strategy so that you don’t necessarily have to compete for prices? Your competitive advantage may be home service, immediate availability, specialized advice, or a unique product. If you don’t have a clearly defined VCU yet, put your creativity to work and create one!
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- Constantly train your sales staff. An efficient salesperson is decisive for the success of the strategy. Many customers will identify with your business on the level that they identify with the seller. In the same way, many will go to buy elsewhere not only because of the price, but because there is someone who serves them better. Hence, more trained personnel better represent your brand.
- Advertising strategy. Develop an advertising strategy according to your economic level. Do not overdo it because advertising is more effective when it is focused and not only by investing a large amount in a good medium. Analyze your market and focus on reaching it.
Nowadays, investing US $ 100 in a paid campaign on Facebook can be more effective than a US $ 1000 ad in the local newspaper, but this depends on knowing how to focus the advertising strategy on a target market.
- Build a digital reputation. Do not settle for having a presence on the Internet and an email (that is a strategy of the past). Today you must build a social media strategy that broadly describes and positions your products or services through a good reference from your customers. This is an inexpensive and very effective tool.
- Create customer loyalty programs. Reward your frequent customers. Offer incentives to your clients for referring other clients or for achieving monthly consumption goals. Develop your database in a professional way so you can know who and where your customers are. This will also be a good support for your advertising strategy. Every successful company of this century is totally focused on satisfying the customer.
- Present your product. Many businesses weaken and die because they do not present their products and services. If nobody knows you, nobody will buy from you. Offer samples to potential customers or distributors. Talk about your product. Print clusters in color and place them in strategic places where potential consumers can see them.
Do not spend excessively on salespeople or promoters, if your business is small, you must be the manager, the salesperson, the one who does the cleaning and who answers the phone. But never stop presenting your product.
You can have the best product in the world. You might even have the best price. But if you don’t have a strategy that makes you visible and attracts clients then you will be doomed to disappear.
The dilemma for every entrepreneur is how much and where to invest their marketing resources and we will talk about that in other posts. Stay tuned for our content and don’t forget to share it with your friends.