Innovative Marketing Techniques for SMBs
Truth be told, marketing can be tricky. It’s even more challenging for small business owners with a limited budget. The costs of ads running, hiring human resources for SEO or copywriting or buying tools for analytics may sound like a heavy investment. Also, there is always a risk of the campaign or a technique failing, leading to money wastage. However, that’s not always the case.
In this post, we’ll share some innovative marketing techniques that every small business can pursue, irrespective of their budget.
Market through Newsletters and Emails
Email can be an effective marketing strategy in many ways. You can automate the procedure, provide instant communication, cost very little, and reach a large number of potential customers.
When a business has added email addresses to its mailing list, it is imperative that it provides intriguing, valuable, and relevant content. It’s mostly to avoid their email directly landing in the spam folder instead of the customer’s inbox.
Create Engaging Content with Shareable Links
Whether studying conventional advertising or getting an online business degree in MBA marketing, building a referral network is the most important lesson you learn, mostly because marketing is incomplete without building a referral network. In prior advertising, where word-of-mouth did wonders, digital media has made it easier by creating shareable links. All you have to do is create unique content that urges your users to share them in their social circle.
You can create interesting videos or posts, share them on your social sites or use a call-to-action statement in your ads copy. All in all, your goal should be to create audience engagement via viral content and shareable links.
Advertise Organically on Social Media
The majority of consumers refer to social media for brand awareness, making it a perfect platform for building organic growth.
When people cannot reach your business on social media, they will seek your competitors who are active on those platforms. Most often, it’s not about having a social media page, but using the right resources to build social audiences there.
When done smartly, organic social media growth is a cost-effective strategy for SMBs. For example, users on Instagram are always on the lookout for new styles and clothes and often follow what influencers post. Fashion businesses can benefit from it by collaborating with top influencers and connecting their audience better. Many influencers don’t want hefty amounts since they’re also looking for ways to promote themselves mostly; they’ll be happy to accept commissions.
However, you should know that not all platforms are profitable to every business. For instance, a software company will not benefit from Instagram as much as it will benefit from LinkedIn. To reach your customers effectively, you have to determine where and how they prefer to be approached. Any platform that addresses both of these questions is the best medium for you.
Sign Up for Business Competitions
It takes time and effort for small businesses to build a good public image. However, signing up for a business competition can boost the process by placing you in front of your audiences and building credibility.
If considered carefully, there’s no downside to this deal. Although the best-case scenario will be to win the award here, you’ll still get brand awareness and publicity even if you don’t.
For finding the top awards and events in the market, research your niche on different social media platforms. Also, don’t forget to check your competitors before signing up. There is no absolute rule that you have to enter the industry-related competition only; a public event with your target audience will help you greatly.
Register On Google My Business
Google My Business is a useful tool for local businesses with local customers. People use Google to find the nearest brand, usually for a local service. If you have a brick or mortar shop or a service business, getting yourself registered on Google My Business with a phone number, proper location, and scheduled hours can get you several leads.
Moreover, customers are more likely to trust a company if they see you at the top of the list. A great tip here is to get positive reviews for your listing. You don’t have to pay for getting good reviews. Just ask your regular customers to leave positive feedback on your listing.
Get Coupons and Deals for Customers
Regardless of whether you have a product or a service business, signing up for a coupon deal can make a huge impact on your success. Sites that offer coupons have a large pool of prospects which are often grouped by location. They add value for their users by showing them the top deals and coupons.
You can benefit in several ways via coupon sites, including increased brand awareness, an influx of new customers, and lead generation. However, revenue per customer is low. You have to discount your product by 50% or more with half percent of the earnings shared to the site. Nevertheless, your goal here is not to gain revenue but to increase your brand engagement with your prospects.
You might have come a long way in setting up your business, but you will need effective marketing strategies to build your audience. With a tight budget, some organic techniques may take up to months to produce results. However, they will benefit your business in the long run.