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Small Business Marketing

Small Business Marketing: Strategies for Success in 2024

Small business marketing can feel like trying to hit a moving target. Between digital platforms, the best strategies, and finding the right marketing tools, small business owners often struggle to know where to put their energy and budget.
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We Cover It All.

From Strategy, Media Creation to Implementation.
With a solid framework, your business can create a marketing plan that brings in customers. Small business marketing is about spreading your brand's message strategically and building relationships with your customers.
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Five Key Factors to Effective Small Business Marketing

Effective small business marketing needs the right systems, tools, and strategies. Think of the MarketStra Five Factor Framework as your toolbox for growth:

1. Streamline Your Marketing with the Right Systems & Tools

Marketing is more than social media posts and the occasional flyer. The first step is choosing the right marketing tools.

CRM platforms help you analyze customer data. This lets you tailor campaigns and learn about consumer behavior. Take some time to consider each platform's strengths before picking one. Salesforce, for example, helps you uncover insights and create better campaigns.

There are tons of email marketing software platforms out there. Mailchimp is a popular choice, and their free plan (up to 2,000 subscribers) is a great option for businesses that are just getting started with email marketing.

Then there’s Google Analytics, which gives you incredibly detailed information about the people visiting your website. Google Analytics is completely free to use. Knowing where your visitors come from and what they're interested in allows you to tailor your website content to your target audience. And, it's free.

2. Capture Leads with Powerful Strategies

The right tools and systems are important, but you also need strong strategies to capture leads and turn them into paying customers.

Optimize for the First Click

You've heard the saying, “First impressions matter.” This is also true when it comes to your business website. When your website shows up first in a Google search, you're more likely to get clicks.

People want information quickly and will often click the first few links that pop up. A study from SISTRIX showed that the first link gets around 29% of all clicks. This makes getting that top ranking crucial for your business.

The Magic of Personalization

People like to be treated like individuals, not just a number. Something as simple as including a customer's name in an email can make a big difference in how they see your brand.

Research from McKinsey shows that most customers want a personalized experience while shopping. Consider this as you develop your small business marketing plan.

3. Maximizing Sales Through Marketing

Getting people to click on your website is a good start, but converting those clicks into sales is the main goal.

Many businesses use paid advertising for quick results. This is a good short-term strategy, but long-term success relies on building an audience and using content marketing.

Prioritizing Owned Content

Owned media is about having full control over your marketing material. This includes your business website, blog, social media, articles, and email newsletters. It's any content created and managed by your company.

Think about how you can share content. Can you incorporate social media marketing into your current plan? Do your social media trends align with current media trends?

Consistently creating high-quality material will establish your brand as an industry thought leader. Owned media will build a loyal customer base and allow your business to grow alongside larger brands.

Harnessing the Power of the 80/20 Rule

Focus on sharing information that matters to your potential buyers. Don't waste time covering every single detail about your brand.

Instead of bombarding potential customers with too much information, focus on delivering the 80/20. Your core content (the 20%) should be interesting and impactful. The 80/20 rule is about getting the most value out of the things that matter most to your business. Customers are constantly bombarded with information, so keep your content direct.

4. Increase Business Profit by Reducing Advertising Spend

Paid advertising can be expensive, especially for small businesses with a limited budget. Think about alternatives like word-of-mouth advertising and building relationships with existing customers.

Capitalizing on Testimonials

Don't be afraid to reach out to your best customers for a review. They are often more than happy to share positive feedback, especially if your product or service helped them.

Customer testimonials go a long way. Testimonials give future customers authentic stories about your products and services. These real-world examples will build trust and make customers see your business in a positive light.

5. Increasing Business Value With Inorganic Growth Strategies

It's normal for businesses to hit a plateau. If your company isn't growing organically anymore, you might want to consider mergers and acquisitions (M&A) and strategic partnerships.

Strategic Partnerships and Acquisitions

Partnering with another company isn't right for every business, but it's something to consider. Merging with a business in a similar industry can be a great way to increase business development and brand awareness.

Small businesses with great products sometimes have trouble breaking into larger marketplaces. A small business could greatly benefit from a strategic alliance. A business that specializes in business content would pair nicely with a larger company where they could work together and share resources.

Capitalizing on High ROI Activities

Every small business has to manage its time and budget carefully. Instead of using tons of different strategies, pinpoint the activities that will get you the best results.

Below are a few strategies that can boost your conversion rates. Remember to focus your efforts on a small number of marketing platforms and track the results.

The Power of Video Content

While text-based content has its place, consumers are more likely to click "play" than read a wall of text. It's faster and easier to fit a quick video into our busy schedules.

According to Forbes, 90% of consumers say that videos help them make decisions about whether or not to buy something. You can also promote your business through short videos on social media. Short videos are more engaging than text and people are more willing to watch them.

Understanding What Content Works

The type of content that works best depends on your niche. Instead of chasing marketing wins, think about what your target audience wants to see.

B2B software companies, for example, usually benefit from content marketing, while other brands get better results with targeted ads. Finding the type of content with the highest conversion rate is essential to getting a good ROI.

You don’t have to rely on personal experience to guide your marketing efforts. Short videos on social media are a consumer favorite, according to Animoto. Successful marketing videos tend to offer something new, whether that be sharing knowledge, providing entertainment, or inspiring people.

Conclusion

You don’t need to be a marketing expert to promote your small business. Use the Five Factor Framework and the high ROI content tips in this article to reach your target market. With a solid understanding of your customer’s needs and a smart strategy, marketing your business doesn't have to be scary.
Transform Your Business Value Today!
Schedule a free strategy session today at no cost.

MarketStra's Five Factor Framework

Phase 1:

All-in-one marketing platform

Transform Your Marketing Instantly with an all-in-one Marketing Platform

Phase 2:

Lead Generation Strategies

Unlock the Formula to Maximize Lead Generation and Drive 10x ROI for Your Business

Phase 3:

Sales Marketing

Maximizing Your Sales Potential Through Effective Marketing

Phase 4:

Business Profits

Find Hidden Profits: Increase Your Business's Bottom Line

Phase 5:

Inorganic Growth Strategies

Skyrocket Your Business Value: 7 Inorganic Growth Strategies in Marketing

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