Every Fortune 100 company started out as a small business. While many of today’s top performers have the benefit of time, they once faced the same challenges your business faces today. Where do I find customers? How do I promote my business? How can I make the most of the limited resources I have? Marketing for small business can take many forms, but “thinking big” isn’t always in your best interest. Here’s why.
Marketing for small business isn’t about thinking big
Small businesses have different needs and resources than big businesses do, so it makes sense that marketing for small business will be different. In most cases, small businesses make the biggest impact on their local economy, so localizing the marketing efforts is a step in the right direction.
Make your advertising pay off now. Advertising is good at creating brand awareness, which in turns generates future sales. Small businesses can’t wait for future sales. Survival depends on bringing in revenue now, and marketing for small business needs to recognize that. Wherever you advertise, include a time-sensitive inducement to buy right now. It could be a coupon, a value-added special or even a 2-for-1 sale. Your advertising needs to be effective at generating sales, so whatever brings customers who are ready to buy into your door (or onto your website) is how you should target your marketing for small business.
Think lite. “Lite” products and services are brilliant in the scheme of marketing for small business. They appeal to the customers who don’t have unlimited resources, but who are looking for the best option they can afford. If your primary product or service comes with a premium price, they will continue to look for lower-cost alternatives. So offer a “lite” version of your product or service. “Lite” versions don’t have all the features or services, but they have enough value to deliver the basics of what the customer is looking for. You gain the added benefit of familiarity. Converting your “lite” buyer to the more expensive version of your product or service once they’ve tried “lite” may be easier than finding customers who are willing to go big up-front.
Go big. When marketing for small business, in the same way that lite products and services can draw in customers at one end of the spectrum, packages and bundles can draw in consumers at the other end of the spectrum. There are customers who are willing to pay more for premium products and services. There’s no reason NOT to accommodate them! Bundle packages and services together or create packages with different price points and different features. By differentiating your services, you’re more likely to please a larger crowd.
If you would like more information about marketing for small business, or preparing effective advertising campaigns that can kickstart your sales, please contact our Creative Director, Dave Ramsell or give Dave a call at (330) 243-0651 to set up a consultation.
Photo Credit: mterraza, via FreeImages.com
