Marketing for Small Businesses
by Erica Boey
Illustration by Natalie Peña-Galvis
Navigating the Marketplace
Unlike big corporations and companies, small businesses lack the resources to carry out big marketing campaigns. However, there are many ways small businesses can make the most out of their circumstances to build brand awareness and increase outreach. Leveraging social media can play a big role in boosting your business’s brand awareness. Utilizing free promotional tools allows your business to increase outreach in a cost-efficient manner. Analyzing marketing intelligence can help small businesses craft more effective marketing strategies to cater to your target audience. Finally, creating your own professional website makes it easy for consumers to learn about the business and its marketing initiatives.
Read the tips below to equip your small business with the tips and tricks to navigate the marketplace.
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Analyzing Your Internal Database and Market Intelligence
To market to your audience effectively, you must first understand the marketplace. You must figure out your business niches and value propositions to give yourself a competitive advantage. Analyzing your consumer demographics and psychographics can help you identify your ideal client. Once you have identified your target audience, examining the trends and changes in the marketplace should be your next priority. This helps you curate relevant marketing strategies to best cater to your consumers’ demands.
Leverage Social Media
Small businesses must capitalize on the commercialization of social media platforms to increase customer acquisition. With Facebook and Instagram expanding their e-commerce capabilities, small businesses can use these platforms to provide customer service. Short-form videos on social media handles such as Instagram, TikTok and YouTube, have taken over the world.
Due to their smaller bandwidth, small business owners can easily create these videos to cater to the fast-paced attention span of their target audience. Consumers, specifically Gen Z and Millenials, are more inclined to communicate via social media to engage with a brand. Investing in active and interactive social media can increase your business’s presence and take it to new heights in an affordable manner.
Utilizing Free Promotional Tools
With a limited goal and scope, small businesses can utilize free promotional tools to help market to their consumers. There are many free and user-friendly promotional tools available online that can help you manage your business.
Using content creation and design tools, small businesses can easily find templates for graphics, logos and short-form videos to create engaging content to attract new consumers.
Social media tools can help improve posting efficiency and be a new internal database source for your business by acquiring customer analytics.
Managing employees, files and important documentation can be made easier by using digital asset management tools. With these tools, you can improve your business’s marketing and management capacities.
Here is a list of promotional marketing tools and software.
Creating A Professional Website
A professional website is one of the most important assets you should have when running your own business. It is a platform for you to advertise your product, showcase your business’s marketing initiatives and connect with your current or potential consumers. Having a professional website does it showcase your business, but it is also acts as another communication channel for your customers. It is an original asset you will always own that is tied to the business that has the capability to generate organic traffic.
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Unlike big corporations and companies, small businesses lack the resources to carry out big marketing campaigns. However, there are many ways small businesses can make the most out of their circumstances to build brand awareness and outreach. Check out these four ideas on how you can better market your small business.