According to experts at USA Today, there’s no better time than the present to become an entrepreneur. The emergence of new technologies has leveled the playing field, democratizing entrepreneurship and opening new platforms for business owners to maximize.
Now, starting your own home business can be as easy as opening a social media account. However, like all businesses, even small companies have to face the challenge of getting their products and services out there.
Marketing might be the biggest challenge that a small business can face, as competition can be steep. Going up against big names and more well established companies may be tough, which is why learning how to market your business effectively is especially important. Previously on the blog, we’ve discussed ‘Traditional Marketing Techniques: How to Promote Your Small Business Offline’.
Today, we’ll take another look at some more marketing tips that might be the kick to get your sales up and running.
1. Create a Plan
It might sound self-evident, but you’d be surprised at how few entrepreneurs really think about putting together a dedicated marketing plan. Knowing exactly what you want to get out of your marketing campaign means that you can plan around a goal, which in turn will make decisions about marketing go much smoother. Marketing can be a bit of a tough spot for small business owners, as many traditional techniques will require a budget that a fresh entrepreneur may not have.
However, as long as you plan correctly the benefits may outweigh the costs. Chron’s list of advantages and disadvantages that can help you decide how to move forward with your marketing strategy, include notes about marketing costs and the benefits of promoting to a target audience.
2. Make Use of Live Video
Every small business owner knows that social media can be a great ally, but not everyone knows how to make full use of it. Having a thorough understanding of the tools available to you will be beneficial, especially as you go head to head with your competitors. Small Business Trends claims that over 82% of audiences prefer live video over regular social media posts, and live video leads to increased interest and engagement with a product overall.
As Internet speeds improve and smartphone use becomes an inseparable part of daily life, live video is projected to become even more popular as a marketing tool in the years to come.
3. Employ Direct Mail Marketing
Fears of overspending on marketing campaigns are quite valid given that small businesses may not have the resources of a traditional, larger company. However, that may also mean that small businesses aren’t maximizing all the avenues available to them.
Direct mail marketing campaigns are particularly effective because they have a relatively high ROI when compared with other techniques. Triadex Services states that households that receive mail marketing packages are twice as likely to purchase something online than households that don’t. Employing a direct mail marketing campaign may be the key to increasing engagement with your customer base, especially in your local community.
4. Maximize Your Online Presence
While business owners have become steadily more aware of the role social media and the Internet plays in their marketing, maintaining a company’s online presence isn’t as simple as putting up a website or a Facebook page.
Keeping your customers and users engaged is key, and to do that you’ll need to maximize your online presence. This doesn’t just mean that you need to post more often; it means that you need to have more posts that are engaging and forge personal connections with your market. Journalist Dhariano Lozano suggests this will help increase your brand awareness, teach you more about your target market, and provide you with new opportunities to network and improve.