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Successful Marketing of Small and Medium Businesses

The sustainable development of the economy depends on many factors, the most important of which is the development of small business.

Small business is the basic link of the market economy. The entrepreneurial initiative, focusing on the consumer, always rushes to where there is unsatisfied demand, and leaves those areas that no longer meet the needs of the market. Thus, optimal economic proportions are formed and maintained.

Small business owners often do not develop a marketing strategy and plan, trying to avoid additional costs. However, it should be remembered that marketing is an effective tool for achieving stability and growth in a small business.

Infographic created by Clover, a POS system company

A business whose owners ignore its promotion with the help of marketing tools, most likely, will not develop and bring profit. But before you start calculating marketing expenses using various financial reporting softwares, remember that they are an investment in the success of your business. If you are afraid of marketing or think that you have problems with the budget and you cannot afford it, then it is time to implement creative solutions.

Before you finally determine what actions the marketing strategy will consist of, what elements will be implemented this year, and what will be implemented next, you should study the target audience.

If you want to successfully promote a small business on the Internet, learn from which channels loyal customers come and pay special attention to these channels in your marketing strategy. If you have noticed that your target customers constantly read local publications, perhaps it is worth placing an advertisement there, emphasizing the advantages of products or services. If your target audience is an active email user, use email marketing opportunities to engage them. If the majority of clients come from social networks, then the most effective solution will be paid advertising in social networks. Study the market, how clients are looking for goods or services, what types of products interest them. Thus, you will make sure that the marketing strategy is developed correctly, and you will not spend the budget on ineffective advertising campaigns and optimization of unproductive marketing tools.

There are different ways to budget promotion of small and medium-sized businesses. Participation in most events does not require the investment of large funds, so networking is a good prospect for small and medium business owners. During such meetings, you can invite potential customers to visit your site and learn more about products or services. For example if you have a real estate agency you can offer to see your pictures in real estate photography websites.

If you are an expert in your field, you have a lot of valuable information to offer. Attend various events and promotions, such as online seminars, workshops and trainings as a speaker, write articles on your blog or be the author of guest posts for other resources or media, share valuable information on social networks (using reposts or stories, for example) and potential clients will see you as an authority figure. It will only benefit your brand. It is a very effective way of developing the abilities of individual consultants, especially tax consultants abilities. Try cross marketing (collaboration with another company, mutual PR). Advantages: results are visible immediately after the campaign, a double effect compared to campaigns launched by companies separately, higher conversion rates, sales and revenue.

Social networks are one of the cheapest and most effective channels for attracting customers. If you want millions of consumers to learn about your company and communicate with the brand, you need to promote your business on the Internet and in social networks in particular (SMM). Here are some examples of low-cost ways to use social media to increase sales and improve business results.

Social media isn’t a place to force a sale, but it’s a great solution for building strong customer relationships and providing useful business-related content. Your presence is very important when users need your support, when they want to learn more about a business or products, or when they are trying to find information about your industry or niche. If your small business becomes a source of useful and timely information, then you will create a large community of users who will become your customers.

Customers are the backbone of any business, and you must constantly expand your customer base, regularly clean it up to increase engagement.

How to increase the client base?

  • offer to subscribe to your newsletter wherever possible
  • add ready-made registration forms, not links
  • segment the base
  • launch autoresponders
  • don’t forget about social networks
  • connect other platforms (for example, YouTube).

Do not forget that when working with a subscription base, the main thing is quality, not quantity. When choosing between a small base of active contacts and a large base of unengaged subscribers, the first option is definitely better.

Using creativity, experience and expertise, research and resources, you will meet customer needs and generate new leads without spending a lot of money.

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