30 Nov Small Business Marketing
Marketing is ever evolving. Technologies change and customer behavior seems to change on an almost daily basis. Small businesses tend to be a little slower with regard to catching on to marketing developments. Some are cutting-edge, of course – but most wait until there’s proof a particular tactic works.
The strategy of waiting is fine, if you are short on time and money (as most small businesses are), but small businesses are adopting new marketing technologies. They are changing how they think about their customers, too. Below are points related to small business marketing that show that small businesses may have a little catching up to do, but they are finding new ways and keeping up at their own pace.
Most small business owners already know the power of word of mouth marketing. But many of them are still not taking online reviews seriously enough. For those that are, the rewards are great: New research indicates that “going from a 3-star rating to a 5-star rating gets a business 25% more clicks from the Google Local Pack.” Given how weak most small businesses are on SEO, reviews seem to be a relatively easy way to get and keep more customers.
Outsourcing marketing duties
The biggest problem most small business owners have is time. And many of them don’t particularly like doing marketing or have a lot of experience with it.
So why not outsource?
54% of small businesses outsource graphic design and website design according to the 2017 WASP Barcode Technologies “State of Small Business Report.” But only 14% outsource their marketing, public relations, and advertising. Statistics show that this isn’t working well. Street Fight’s research on small business owners found that among business owners that either do their marketing themselves, delegate it to an internal team, or outsource it to an agency, the owners who do their marketing themselves are the least satisfied with their results. The most satisfied are the owners who outsource marketing to an agency.
Small businesses tend to neglect their websites.
Small businesses are still a bit behind the curve when it comes to getting online. They’re pretty good with social media, but they’d benefit more by having their own site, rather than relying on Facebook.
There is strong evidence that small businesses are finally becoming digital, which is great since websites are regularly named as the most effective marketing channel for small to medium-sized businesses. Search Engine Optimization (SEO) is also very important.
The customer is top priority
Retention and customer loyalty has always been the smartest way to grow a business.
Facebook is still the social platform to be on
Facebook “reach” might not be what it used to be, but that hasn’t scared small business owners off. Facebook is still by far the most common platform for a small business to be on. It’s also where consumers go to check reviews of the business.
There is plenty of good news going on in small business marketing. Far more companies should have their own website, but the number that are realizing that seems to be climbing. Even if you own a small business with a small budget, if you aim your resources at customer retention, you will likely succeed.