5 Marketing Tips for Small Businesses

5 Marketing Tips for Small Businesses

I had a conversation last week with other marketing professionals about the topic of organizations seemly negate the benefits of implementing a robust marketing budget. Even some international brands will launch a product with restrictive budgets. Their results are lackluster compared to what their projections would have been with an adequately supported strategy.

I wanted to draw attention to that but focus on small businesses that consistently underbudget their marketing efforts and provide tips to help bridge the gaps.

After all, small business owners are the backbone of the American economy. They account for more than half of all private-sector jobs in the U.S., and while big businesses often get all the attention, small businesses are the ones that drive innovation and growth.

Marketing is how you create awareness for your business and attract new customers. It's also how you build relationships with your existing customers and grow your brand. That's why it's so crucial for small businesses to invest in marketing.

Unfortunately, marketing is often one of the first areas small businesses cut when trying to save money. But that's a mistake. A good marketing strategy can help you generate more revenue and grow your business.

1. Why small businesses should invest in marketing

2. What are the different types of marketing?

3. Creating a marketing budget?

4. 5 marketing tips for small businesses

5. Common mistakes small businesses make with their marketing?

Why small businesses should invest in marketing

Marketing is one of the most effective ways to create awareness for your business and attract new customers. Marketing also helps you build relationships with existing customers and grow your brand.

In a competitive business environment, a business needs to invest in marketing to stay ahead of the competition. A good marketing strategy can help you generate more revenue and grow your business.

The marketing cost is often one of the first areas small businesses cut when trying to save money. However, this can be a mistake. A small business that doesn't invest in marketing will likely struggle to compete against companies that do.

From the brilliance of Chief Marketing Officer (CMO) Jaci Volles, "When entrepreneurs are ready to launch their ideas and move forward in commercialization, they often jump into 'random acts of marketing.' The natural perception is that 'being out there' will lead to sales. Unfortunately, it's like going to a foreign country without a GPS. It's difficult to reach your destination without a roadmap.

That's the value of a strategy. Don't let the word scare you. It does it need to be 50 pages of legalese and content. But it does need to include a validated concept (vetted through research), an identified target audience (avatar(s)), defined problems being solved, a customer journey mapping (funnel), content strategy, and a sequence of opportunities to test feedback and adjust (agility, pivot). Don't board the plane to nowhere. Pause and take the time to plan the trip. It will be worthwhile!"

Jaci (Gagnon) Volles, CMO  

What are the different types of marketing?

With marketing, there is no one size fits all solution; what works for one business might not work for another. It is essential to understand the different types of marketing and how they can be used to reach your target market.

Social Media Marketing

This type of marketing uses platforms like Facebook, Twitter, and LinkedIn to create content that is then shared with followers and potential customers. This is a great way to build brand awareness and connect with customers on a more personal level.

Content Marketing

This type of marketing focuses on creating helpful, informative, and engaging content that will attract attention and encourage people to share it with others. A few examples of content marketing include blog posts, articles, infographics, e-books, and whitepapers.

Email Marketing

This type of marketing involves sending out emails to customers and potential customers to build relationships and drive sales. Email marketing can promote new products, share helpful information, or give customers a coupon code for discounts.

Search Engine Optimization (SEO)

This type of marketing helps improve the visibility of your website and its content on search engine results pages (SERPs). By optimizing your site for specific keywords, you can attract more traffic from people who are searching for businesses like yours.

Pay-Per-Click (PPC) Advertising

PPC advertising is a great way to attract targeted traffic to your site. This type of marketing allows you to place ads on SERPs and other websites. When someone clicks on your ad, they are taken to your website, and you are charged a fee.

When it comes to marketing, there is no one-size-fits-all solution. It is essential to understand the different types of marketing and how they can be used to reach your target market. By combining these five marketing types, you can reach a larger audience and build awareness for your business.

Creating a marketing budget?

Creating a marketing budget is essential for any business, regardless of size. You could miss out on potential customers and sales by not spending enough on marketing.

Marketing experts suggest that small businesses should spend anywhere from 7-8 percent of their gross revenue on marketing. While this may seem like a lot, it's important to remember that marketing is an investment.

When establishing a budget, there are a few key things to consider:

- What are your goals? What do you hope to achieve with your marketing efforts?

- What is your target market? Who are you trying to reach with your marketing?

- What is your budget? How much can you afford to spend on marketing each month/year?

- What tactics will you use? What marketing will you be doing (online, offline, etc.)?

- How often will you track and adjust your budget? You should track your spending and results regularly and make adjustments as needed.

Asking better questions can lead to a more effective marketing budget and help you get the most out of your marketing efforts. By digging deep into your business's needs, you can create a budget that works for you and helps you achieve your goals.

5 marketing tips for small businesses

If you're a small business, you may wonder how best to allocate your marketing budget. I want to give you just five tips that could change your business for the better.

Social media should be a priority

In today's day and age, social media is one of the essential tools for marketing your business. It allows you to reach a broad audience quickly and easily, and it's a great way to connect with potential and current customers. You're missing out on a massive opportunity if you're not using social media to market your business.

Invest in content marketing

Content marketing is another essential tool for small businesses. Content marketing can promote your products or services or provide valuable information to help your readers solve a problem. High-quality content can attract new visitors to your site and build trust with your audience.

Don't forget about email marketing

Email marketing is often overlooked, but it can be a powerful tool for small businesses. Email marketing lets you stay in touch with your customers and build relationships with them over time. You can use email marketing to promote new products or services, offer discounts and coupons, or simply keep your customers up-to-date on what's going on with your business.

Make sure you're visible

If you want people to find your business, you must ensure you're visible online. That means having a solid SEO strategy and advertising on relevant platforms. At a minimum, web pages should have long-tail keywords embedded in the content. By making sure you're visible online to include search engines, you'll attract more visitors to your site and increase your chances of conversion.

Analyze your results

Finally, tracking your marketing efforts and analyzing your results is essential. This will help you determine what's working and what isn't and allow you to make necessary adjustments to your strategy. You can optimize your budget and get the most out of your marketing spending by tracking your results.

Following these five tips, you can create a strong marketing strategy on a small business budget. Don't be afraid to invest in marketing strategies, and don't forget to track your results so you can continue to improve your strategy over time.

Common mistakes small businesses make with their marketing?

Small businesses can make a lot of mistakes when it comes to marketing. Here are the four most common ones:

Not spending enough on marketing

It's important to remember that marketing is an investment. You could miss out on potential customers and sales by not spending enough on marketing. You are leaving money on the table with access to digital marketing professionals at your fingertips and not using their expertise.

Focusing on tactics instead of strategy

Too often, small businesses focus on individual tactics instead of developing a comprehensive strategy. As a result, they may not see the results they're hoping for and take a swing and a miss with their target audience.

Not using all available channels

Many small businesses neglect some of the most effective channels, such as social media and email marketing. Make sure you're using all the channels available for the best results.

Not tracking results

One of the biggest mistakes small businesses make is not tracking their results. Sometimes the tracking can be to ask incoming customers how they found you. It is challenging to determine what's working and what isn't, making it hard to optimize their budget for maximum impact.

Only a few seem to pop up more often than not. If you are a small business owner, see if you can relate to these common marketing mistakes. If so, don't worry! You can quickly fix them by following the tips in this article.

As I said, there is no one-size-fits-all solution. What works for one business might not work for another. The important thing is to experiment and find what works best for you. And always remember to track your results so you can continue to improve your strategy over time.

If you need help getting started with marketing or want more tips on creating a successful strategy, reach out. This is a conversation you need to have.

Conclusion

Marketing is essential for any business, regardless of its size. And while it may seem like a daunting task, small companies can create an effective marketing strategy by following a few simple tips.

Your primary takeaway from this is to invest in your marketing. Marketing is an essential tool that can help your business grow. So don't be afraid to invest in it. And always remember to track your results so you can optimize your strategy and get the most out of your marketing budget.

Throwing ideas at the wall to see what sticks is no way to run a business. By creating a comprehensive strategy and tracking your results, you can avoid common marketing mistakes and create a successful marketing campaign on a small business budget.

Social media is a gold mine for your marketing strategy! Social media is one of the most effective marketing channels available, and it's perfect for small businesses. Because social media is affordable, it allows you to reach a large audience and is a great way to build relationships with your customers.

By following these tips, you can create an effective marketing strategy that doesn't have to break the bank. So don't be afraid to invest in marketing - it's essential for any business, big or small.

Brian Keltner, Founder