5 Marketing tips for small businesses
Small businesses with tiny marketing budgets can’t often afford a marketing company to monitor their monthly progress, provide necessary support and deliver marketing help which will provide genuine improvement to their business. As such we’ve created our marketing tips for small businesses article. Please continue to add your own marketing tips for small businesses below.
1.Define your business: Often small companies struggle to grow their business because they fail to become competitive. Too frequently small businesses presume competitive means the cheapest. Tesco isn’t the cheapest, but it is the biggest. Tesco has a competitive advantage in the size and number of their shops, coupled with their innovative distribution strategy which almost guarantees product availability.
The first and most important marketing tip for small businesses is make sure your business is competitive.
There is a simple test; Answer this question, “Describe your business?”. If you’ve said “We’re a builders, call centre, accountancy firm etc” then this point is important for you. Differentiate your company and specifically meet a target audiences need.
2. Promotion: Ah, an age old favourite. If I have to hear “But I spent £5,000 on advertising, why have I not made money” i’ll start to use BOLD letters. Promoting your company and product can meet different objectives, do you want to build brand or focus on directly generating leads? Always remember as a small company, advertising doesn’t guarantee success!
Think of advertising as a trial and error system – it won’t always work.
3. Upsell: Can you sell additional products which would compliment your traditional service?
4. Recording: Small businesses often believe the size of their organisation means they shouldn’t keep a record of client information. Create a fact find and ask your clients about their business, it’ll help identify future potential revenue streams!
5. Partner and share: Small businesses can often network to cost effectively market their services. Often a reciprocal arrangement will help make both businesses more successful.
Can you think of any more marketing tips for small businesses.
12th September 2010
30th June 2017