The 7 Most Effective Marketing Strategies For Small Businesses
As a small business without a huge budget, unlimited toolbox, or big team, it can be tough to figure out how to best grow your community and consumer base. With so many other small (and large) companies competing for the same audience in a saturated marketplace, the central question then becomes: what is the most effective marketing strategy to save money, time, and resources? Luckily, there are several proven tools that work for smaller businesses looking to make an impact in their sectors. We’ve put together a list of the top seven most effective strategies for small businesses to expand their reach, grow a loyal brand community, and master the art of digital marketing on a smaller scale. While your business, audience, and strategy will change over time, it’s important to refer back to these core ideas and use them to experiment for optimal results. Let’s learn more.
Narrow Down Your Audience
As a small business, the most important thing to do for your strategy is to outline a niche audience for your product or service. There are simply too many people in the world—and too many online—for you to effectively market to them all. Instead of trying to please everyone and hit every age group, geographic location, and interest, stick to your brand values and find a specific audience from there. Narrowing down your audience gives you the advantage of using your resources smartly; you won’t be wasting time, energy, and money marketing to people who aren’t that likely to invest in your brand. For example, if you own a small body butter business, you’ll have to figure out exactly which target audience is most likely to buy your product. If your products are priced higher, you probably won’t be marketing to teenagers. It’s through this process of elimination that you can find your niche.
Find Other Local Businesses
Another effective marketing strategy for small businesses is to collaborate with and support other small businesses. This isn’t just a moral and ethical statement; it’s a marketing one. Working together and frequently promoting other small businesses means that you can share your resources to market to a new audience. You can hold joint pop-up shops, have Instagram collaborations, or even design unique products together. For example, suppose you’re a local small business that sells gorgeous red wine. In that case, you can join another local business selling cheese and promote a package deal!
Incentivize Customers
As a small business, you probably need to work extra hard to find those loyal consumers. Stellar products aren’t enough to grab attention; every business—small or big—needs to do more. Incentivizing your customers to buy your products or invest in your business is a great marketing strategy because it drives attention to your brand name. One way to do this is through discounts and special offers. However, you can also incentivize customers through high-profile collaborations. For example, you can team up with a local influencer to get their audience interested in buying your products or enter for a chance to win a special reward. Remember to choose your incentives wisely and thank your consumers for the time they invest into your brand.
Become A Pro At One Social Media Platform
As a small business, you know that there are an overwhelming amount of social media platforms, and it feels like a big new one is popping up every month. If you don’t have the capacity or team to manage various social media platforms at once, don’t! It’s better to become a pro at one than to be average on all. The saying “jack of all trades, master of none” is especially true here. Find a platform you know how to use, and post frequently and meaningfully. This involves staying current on trends and engaging with your followers as much as possible. Remember that with social media, consistency is key!
Use Email Wisely
Building a solid email list is one of the most effective strategies for small businesses, as it allows you to stay connected to your audience and pop into their lives frequently (but not too often!). You can build your email list by incentivizing users with coupons or special sales and retain their interest by treating them as special customers who get exclusive information and deals. Experiment with email length, email format, the time you send the email, the subject line, and other factors to increase your open and click-through rates. Emails can also help you form direct relationships with your consumers, which is very important for small businesses.
Awards Help!
If you’re a small business, another thing you can do to boost your marketing strategy is to back up your claims. Adding awards to your repertoire helps your customers trust you, gives your brand meaningful exposure, and acts as a recent news source for you to include in your marketing strategy. There are many different awards that you can apply for, and you should try them all! Keep on nominating yourself for the various awards you come across—whether they’re local, international, or interest-based. If your customers know that you’re the best workplace in the region for women or that you have won an award for actively caring about your employees’ mental health, they’re more likely to trust you, buy from you, and recommend you to others.
Be True To Your Brand—And Stay Consistent
Above all, small businesses should stay true to their values and remain consistent in marketing materials, even when finding ways to stand out. The most effective marketing tool you have is to be yourself and stay loyal to your brand’s mission. Brands consist of people, and it should be this individuality and authenticity that your marketing strategy reflects. It’s increasingly common for brands to make political statements or get involved in social and humanitarian causes. Don’t shy away from standing up for what you believe in because it will always attract your target audience. Be vocal about the kind of person you are, what your company values, and what you do daily.
Figuring out your marketing strategy as a small business doesn’t have to be stressful or hopeless. Remember to experiment often and record all of your findings so that you can iterate on ideas and find what works best for your business and audience. Ultimately, stay true to yourself and your brand to be as honest and open as possible. Customers appreciate brands with a conscience.
Always in your corner,
The Content Queens
