Now you have registered your business and have made some sales, what's next? How do you get more people to know your business and make more sales. That is the role of marketing. Entrepreneurs often do not prioritize marketing effort. They focus on building the best products and best services, and hope customers will come. It can be true that referrals are powerful tools for many companies, but it depends on the nature of the business and target audiences.
In the following, we will walk you through some thinking process that you can take on your own to determine whether marketing should be a priority for you and how you may want to start doing some of it early on.
Know Your Audience: Understand your target customers deeply. Tailor your marketing efforts to their preferences, needs, and pain points. Referral works the best when target consumers tend to be in a community that know each other, e.g. consulting services for college essay writing. Parents of high schoolers are in a tight network. One satisfied parent can easily refer another parent to the same services. Their pain points and needs are also similar. This makes marketing through referrals and/or Word of Mouth (WOM) highly effective.
Emphasize Your Value Proposition: Clearly communicate what sets your business apart. Highlight the unique value you offer to customers. Whether it’s exceptional quality, affordability, or outstanding service, make it known! Your value proposition needs to be succinct and easy to grasp with straightforward messaging. Once this is determined, sharing this value proposition on all possible consumer touch points are key to build your overall brand identity. Small businesses don't have a deep pocket to mass communicate its message. Therefore, being focused and being effective are key to success.
Create a Website to Own Your Online Presence: A professional website is essential. It’s your digital storefront. Optimize it for search engines (SEO), showcase your products/services, and provide valuable content. This website serves as your base camp, especially if you plan to sell products/services online. All your marketing effort should direct users to this website to learn more about your business.
Understand the Power of Existing Customers: Your loyal customers are your best advocates. Encourage referrals, loyalty programs, and personalized follow-ups. Happy customers can bring in new business! Some good examples are: friendship day sale - buy one get one free for your friend. Refer a friend and get $100 credit on your next services.
Stay Focused on Singular Goals and Objectives: Avoid spreading yourself too thin. Set specific, measurable goals (e.g., increasing website traffic, boosting sales by 20%, etc.) and align your marketing efforts accordingly.
Capitalize on Short-Term Plays: Leverage time-sensitive opportunities. Seasonal promotions, flash sales, or limited-time discounts can create urgency and drive immediate action.
Double Down on What Works: Analyze your marketing channels and tactics. Invest more resources in strategies that yield positive results. Whether it’s social media, email campaigns, or content marketing, optimize what’s effective.
Use Free Promotional Tools: Take advantage of cost-effective options. Social media platforms, email newsletters, and blogging are powerful tools that won’t break the bank.
Remember, small business marketing is about consistency, adaptability, and creativity. Experiment, learn from data, and refine your approach over time.
You can find a much more detailed description of various tactics at Forbes website
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