For entrepreneurs and small business owners working with limited budgets, it’s particularly important that their marketing strategies are effective. Invest in the wrong marketing strategy, and you could find yourself running out of funds with little to show for it.
With the right marketing strategy, startups and small businesses can compete with big corporations. To help you capture a bigger slice of market share and grow your revenue, here are some of the top marketing strategies for small businesses:
Traditional Marketing Techniques
If you own a brick-and-mortar store, there are some traditional marketing techniques that are still worth your time and will attract local customers to your business. Here are a few that you should consider using:
Word-of-mouth marketing (WOMM) is one of the most powerful forms of marketing today and relies on your customers spreading the word about your business so that others are persuaded to buy from you. According to a study by Nielsen, 84 percent of respondents said that referrals from their friends, family, and colleagues were the most trustworthy. To get customers talking about your business, consider implementing a customer referral program that gives both individuals a discount for referring someone to you.
For certain small businesses, print advertising can be worth the investment and extend their reach to customers. For example, those whose target audience is made up of Baby Boomers will find that placing ads in newspapers and magazines is highly effective.
Another popular traditional marketing technique is sending brochures, fliers, and offers to customers in their mailbox. This is a fairly cost-effective marketing strategy as long as you make sure that your letters are going to your target audience only.
Online Marketing Techniques
With the rise in digital technology and social media, online marketing is no longer optional for businesses. Here are a few of the best online marketing techniques that your small business can use:
Search Engine Optimization
Becoming knowledgeable on search engine optimization (SEO) is a must for any small business owner or entrepreneur. SEO refers to the process of affecting the visibility of your business’s website in search engines for natural searches. For example, YourOffice Ballantyne ranks at the top of search results when a person searches for “executive office in Ballantyne.” You want customers to be able to find you easily when they search. For beginners, this helpful guide from Moz is a great place to start.
Social Media has become the great equalizer in the marketing world. Whether you are a big corporation or a small startup, you can gain a huge following on social media with the right social media campaign and generate more leads than you know what to do with. Become a master at social media and your business will reap the benefits.
Google AdWords is a tool by Google that allows you to bid on certain keywords so that their pay per click ads can appear for specific searches in Google’s search results. It can be highly effective at bringing in traffic to your website, but this depends largely on the keywords that you’re bidding for and how relevant these keywords are to your customer’s searches. Again, educating yourself on how to use Google AdWords properly is key if you want to be successful.
Setting the Stage For Marketing Success
Creating and implementing a successful marketing strategy is critical to your business’s growth. With a combination of traditional and online marketing techniques, you can find the right balance of both to expand your reach.
If you are looking for a place to meet with your team and plan your marketing strategy, YourOffice Ballantyne has five business-ready meeting spaces equipped with the latest technology to meet your needs. Contact us today and let us help you find the ideal meeting space for your business!