Agencies and entrepreneurs should note these five marketing tips for small businesses…
One thing small businesses have failed to realize is that marketing should be a key component of the business. It should be the air the company breathes. SME’S should realize that marketing is not just about selling but about a lasting platform that resounds long after the sale is made.
With the downward slope of the economy in recent times, surviving as a small scale business in a developing country is a herculean task. It is important that business leaders discover marketing strategies to remain afloat. Once the right brand has been created, the next step is to create a vibrant marketing tunnel to make the business memorable in the minds of consumers. Without a strong relevant brand, no amount of marketing will be able to sustain attention for a long while.
SMEs are privately owned enterprises with little or no external support. They also provide a ticket most people use to meet their daily needs. Nigerian wives have also agreed it is the fastest way men ‘forget’ to drop money for feeding without feeling guilty. Bearing this in mind, these five marketing tips will ensure that SMEs survive in murky waters and remain afloat for a long while.
Every business needs a face lift after a while. New strategies, innovative slogans, fresh ideas and the infusion of creativity. It’s like injecting fresh blood into the business.
With re-branded images come new things to talk about. Keeping the ads memorable also create consumer relationships.
Network your consumer base
Every business should have foot soldiers. These are clients that reach out to other potential clients in a network-like maze. These clients help in generating publicity for the business, either directly or indirectly. This is done through customer feedback and referrals.
While some businesses can afford to open several outlets, some do not have the same privilege. Referrals go a long way in ensuring that no matter how bad the economy goes, someone out there is singing the business’s praises to a neighbour or friend. This may also involve recruiting individuals with like minds as temporary staff.
With the advent of technology and social media, communication and PR have been made easy.
Creating periodic awareness of a particular brand or product is essential in the sea of SMEs. Cheap but effective methods can be ascribed to and a larger audience is reached at the same time. It would not be amiss to have a functional website, blog and customer care centre where individuals can feel at ease when in contact with a human.
There is always the option of expanding the business to cover a whole range of products and services that appeal to a larger audience. Most small scale businesses have been suffocated to death when they offer only one line of products.
They are easily swallowed by businesses who offer a variety of things to choose from. Variety remains the spice of life and the same applies to businesses as well.
At one time or the other, we have fallen for the ‘New improved’ campaign put out by businesses. Never mind that it turns out to be a smaller pack with the same product or quantity in a new package. Yet, the thought of getting additional value for a product, propels customers to try it out in a bid to get more value for their money. Target a particular demographic and work your magic on them. Make sure to keep eyes open for new opportunities and do it right.
In all, giving one’s best is expedient. Research has shown that only two out of ten small scale businesses survive by their third year. While recession has a role to play in their demise; strategy, innovation and effective management have remained key things to keep a business alive.
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