When you first start a business, your margins are razor thin. You may be trying to cut costs, and limiting your marketing expenses may be a strategy you want to follow. If that’s the case, you need to be very efficient with your marketing strategies.
To get the most bang for your buck while also growing your company, marketing will be key for you. Regardless of what industry you are in, marketing may be the key to beating out your competition and being your customer’s top choice.
Here are a few marketing do’s and don’ts for growing a small business.
1. Do: Study Your Market
If you’re trying to market a retirement home on a college campus, you’re gonna have a bad time. Before making any marketing investment, make sure that you use marketing strategies that will appeal to your potential customers.
Pay attention to the recent trends that your market is enjoying. Be sure to stay relevant on social media for younger customers, and be in the news when it comes to older customers. Also, try to use marketing strategies that connect to the product you’re selling.
2. Don’t: Be Scared to Be Unique
While the tried and tested strategies will work, they probably won’t put you ahead of your competition. Remember that being different can be good for business, as it will set you apart from your competitors and appeal to your market.
In terms of marketing, try to use alternative strategies. Use unique methods to market to a new audience. For example, sticking your brand onto a fuel island canopy from Shelters Direct is a new idea that can reach a wide audience.
3. Do: Keep Your Customers Involved
Keeping your current base of customers can be just as important as acquiring new ones when it comes to growing a small business. If you really want to keep them coming, try to get them involved in your marketing.
This can be accomplished through easy things such as social media contests, rewarding new referrals, or having customer loyalty promotions. These strategies will encourage your customers to spread the word about your business and come back for more!
4: Don’t: Go All In On One Idea
With the limited resources that you have as a small business, you may think it may be smart to invest all of it into one grand marketing scheme. As history tells us, that won’t always work.
When figuring out your marketing strategies, have a few in mind that you’re ready to invest in, just in case some don’t work. Diversifying your ideas is great, and will make sure that your money is safer in the long term.
Other Tips For Growing a Small Business
If you’re in the process of growing a small business, there are many things you can do to help develop. Marketing is an important aspect, but it is just one piece of the puzzle that is the startup world.
For more tips on how to grow your small business, be sure to check out our other articles!