Even if your products and services are great, they may not be known by the public. Marketing can help. What can you do if you are a small or new business and don’t have enough money or resources to implement a comprehensive marketing plan? This guide will show you how to implement a marketing strategy for small companies without going over budget.
What is a marketing strategy for a business?
Your marketing strategy for your business is the plan you have to reach new and existing clients through different channels, such as Email Marketing or Direct Mail. This involves identifying your targeted customers, assessing their wants, needs, and problems, and positioning your company as the best solution.
A business marketing strategy is an array of tactics that are designed to raise awareness about your company, increase sales and revenue, and acquire new customers, according to Jayson DeMers.
You have an audience, but if you don’t market effectively, they may not be aware of you. Steven Jaenke said that people are trying to solve problems, and a successful marketing campaign will help them understand how your product or service can provide solutions.
Jaenke stated, “Without marketing you are reliant upon hard selling.” You’re approaching people who aren’t prepared, don’t even know you exist, and might not know that they have a need. Marketing allows people to discover small businesses, identify their problems, and find the solutions that the company provides. They don’t feel pressed but rather relieved.
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“Developing a brand” is the first step to any marketing strategy, Jaenke explained. You need to identify your business’s purpose. You don’t have a brand if people cannot remember you or why you do what you do. Create a brand narrative that explains how and why you started your business. The brand story is more important than the tone, typography, and logo for [defining] your brand. “It’s the glue which holds everything together.”
Identify your target audience
A good marketing strategy for your business begins with identifying the target audience. These are the people most likely to be your customers. Knowing your target audience and their wants, needs, and behavior will help you craft the right message to send in the most appropriate places.
Jaenke stated that “many small business owners have difficulty identifying their target audience.” This is because they believe that narrowing their focus will limit their options. Remember that selecting a target market doesn’t reduce your marketing efforts but rather focuses your attention. [Read the related article: Everyone is Not Your Customer: It’s Okay ]
Create buyer personas
Create buyer personas once you have a better understanding of your target audience. It may seem absurd to create fake customers who have fake hobbies and lives, but the more details you include, the better.
Jaenke explained that “your market research will help you with this. But, in essence, what it means is to identify a fictional character who represents a particular segment of the market.” “You should be as detailed as possible and include more than demographics.”
Jaenke gave an example of a buyer persona that he created based on the business he runs:
“We have Jim, the accountant.” He is a 45-year-old man who runs an accounting firm that has a modest level of success. He has three other accountants, a receptionist, and a revenue exceeding $500,000. Jim spends his free time watching golf and working with vintage cars. He attends car rallies as often as possible on weekends. He has grown his business through networking and referrals to $500,000 but is unable to go beyond this point. He is looking for ways to increase his business .”
DeMers explained that if you have already started your business, you may already know who you are trying to reach. It’s always good to create a persona of your target audience, which is a description demographic. You could include age, gender, and marital status. Also, you can list the job title, annual income, job description, job position, and job. “Be specific to find the perfect match.”
Create a website
It’s important to have a website for your business, even if you do not plan to sell online. If a customer is looking for a new company (whether they’re new or not), then they will look at its social media pages and website. Your audience will be impressed by a business website.
DeMers stated, “I recommend that small businesses create their websites on WordPress.” You can hire a web admin to maintain and build your website using a popular WordPress template like Divi.
Jaenke has a different perspective. He said WordPress or similar platforms should only be used as a last option.
Jaenke says that people often fall for the drag-and-drop trap. The companies who provide them make it easy to operate, and monthly fees are affordable. However, the costs add up, and the results can be less than engaging. We recommend instead hiring a professional website designer who focuses on customer experience.
He said that Divi is an excellent option for those who do not have the budget to pay for custom web development.
Jaenke explained that the page builder is similar to drag-and-drop companies but with cleaner code. The result will also be more unique. After you pay the annual hosting fee, Divi will be free. “You’ll also own the site.”
Set up your online tools
You can use a variety of online tools to help you improve your marketing or connect with customers. Yelp pages allow customers to give direct feedback, and you have the chance to respond in kind. Google Business gives you an area on the search results page that customers can use to find out key information about your company, including location, contact details, website, and customer reviews.
SEO software such as Semrush and Ahrefs can also be helpful in understanding how online users search for similar products and services. These insights can be used to create marketing content that is optimized for search engine result pages and addresses the needs of customers.
Finally, you can embed tools such as pixels into your website in order to track traffic and collect data. Knowing where people come from and what they do when they arrive on your website can help optimize future marketing and advertising campaigns.
Engagement is the next step after you have determined your target audience, built your website, and created your marketing channels. You need to engage with your customers and give them value before they decide to spend money. In this regard, your business blogging can be a great tool. You can use it to engage your audience and create a relationship that is real with your customers. Your blog will become the foundation of your SEO efforts and customer engagement as your online presence grows.