Are you just starting out? Sometimes it can be hard for small businesses to excel in their first year, due to the costs of establishing the business and advertising the business. There are a number of strategic marketing tips that will help to boost your business. Below is a list of the top 6 strategic marketing tips for small businesses.
6. Become a Sponsor of Your Local Sporting Club!
There are heaps of opportunities for small businesses to become sponsors of events in the local community; such as sporting events and school events. Becoming a sponsor is a great business strategy, because sponsorship deals usually do not cost a great deal of money or resources. Just think of the exposure your business will get?!
5. Learn to Take Advantage of (and Reward) Your Customers.
… In a good way of course! It is not well known that it is much easier to get business from someone that has dealt with you before, than from someone who has never dealt with you. That’s why it’s so important to retain these clients. As well as the financial strategy to retain clients it is beneficial to reward regular customers with special or exclusive deals for them. Or start a loyalty program – buy 4 get one free etc.
Remember, word of mouth advertising is more effective than any other form of advertising – and much cheaper!
4. Offer Your Potential Customers a Cheaper or Premium Version of Your Product.
Remember that some potential clients won’t want to pay the advertised price for your product. You should have a financial strategy to cater for all budgets.
You will always find those people out looking for a bargain, good on them. A good business strategy is to accommodate for this. Avoid losing the sale altogether and have a no frills version of your product that you can sell for a lower price.
In saying this, it is important to remember that not all potential customers are looking for a cheap price. You will find that some are prepared to pay a little bit extra if they will get a top quality product. Keep in mind that if you can cater for everybody, you will definitely win in the long run.
3. Don’t Kid Yourself. Don’t Advertise Like a Big Business.
You probably cannot afford to advertise like a big business. It’s much better to do your research and advertise smartly, than largely. It is much more effective to have 5 smaller advertisements, than one large one. You’d be surprised how effective smaller forms of advertising can be.
Have you thought about a letterbox drop? If you include a special offer in your advertising, you may sway more potential customers to try your business.
2. Get Online – Don’t Miss Out on a Sale!
The internet is open 24/7. You can’t pop down to the shopping centre at 4:00am and buy a pair of shoes; but you can online! So many small businesses fail to advertise online. If you are not online, you are behind the eight-ball. You should know that the internet is typically the first place people go for information.
1. Facebook is Your Friend!
So you have now created an awesome webpage? Don’t stop at that. Did you know that there are over 175 million users on Facebook? That’s a LOT of people. Think of all the extra customers you could obtain via Facebook! Don’t worry about your financial strategy – you can create a FREE Facebook page!
If your Facebook page is done well, it can be used to bring in so many new customers as well as helping to maintain your relationships with your current customers.