For any small business, marketing can be difficult. Learning where your audience is, how much to invest, and analysing your efforts so you can improve, all while running a business is enough to make anyone’s head spin. In this article, we’re going to try and help you learn how to achieve your business marketing goals.
Figure out your marketing budget
This can be difficult for small businesses, especially new ones. Often, new businesses will invest everything they have into building their business. It can consume most of your time, energy, and funds. But if you don’t market your beautiful piece of work, you risk the chance of not reaching potential consumers. If you are serious about obtaining that crucial return of investment in your starting months/year, you should never underestimate the importance of marketing.
The truth is, how much you should spend on marketing varies depending on what your service is, where you’re located and how your target market digests information. The average rule of thumb is to allocate 10% of the revenue you made in your previous year. But this formula is a starting point and can limit your potential. We recommend a more flexible approach. If an opportunity arises or you have a large event or sale, make sure you’re putting enough marketing money behind it to ensure its success the best you can. Read up on the 70:20:10 marketing model here.
Put your money where the mouths are
Do you know where your audience is? It’s easy to say on social media, but can you be more specific? Do you know what hashtags and accounts they follow, or other interests they have? It’s crucial to practice social listening to learn these key answers. They will help you find your customer base and learn how to communicate with them. And don’t forget social media isn’t the only digital way to communicate with your following. Try email marketing, SEO, PPC and other avenues that fit your business marketing model.
Marketing isn’t all digital either. There are plenty of other ways to reach your targets off screen. You can host or sponsor an event, putting faces to your brand so people can become more emotionally invested. You can also try branding company vehicles, a local leaflet drop, advertising on billboards — even print out notices for local bulletin boards. If it’s in a space where your audience frequents, try it.
A/B testing is they key to success
Rarely does a brand get it right on the first try. It takes time to understand how your brand is being perceived by the public and how to communicate with them the way they need to in order for them to digest your value as a brand.
Try different messaging and visuals and review any data you can collect to see if one advert performed better than the other. Then remember that for future efforts. Keep your messaging appropriate for the current climate. If there is anything COVID-19 taught the marketing industry, it’s to adapt to what people need to hear — not what you want to tell them.
Get professional marketing help
Unless you have a background in marketing and advertising, chances are you won’t even know where to start. You have a business to run and adding marketing to that mix can be daunting. Seek help from experts who know how to get the word out about your business. This will ensure you start out on the right foot, save time, and save money.
There are plenty of niche experts out there, which are great for niche businesses that have very specific marketing needs. But if you need a marketing agency that will cover all your needs under one roof and can tailor a plan to all your overarching needs, you need a full-service marketing agency. A full-service agency will be able to provide things like graphic design, digital development, marketing strategies, and communications — all in unison with each other. It’s essential that these components work together so all your messaging is seamless and on-brand.
Gray’s Marketing and Communications is the only truly vertically integrated creative agency West of the Bann. Our structure ensures we can best service our clients regardless of their requirements or scale. Our full-service capabilities enable us to ensure that every aspect of your marketing needs is considered and connected. If your business is in need of marketing strategies and direction, contact us today.