At some point, every small business embarks on marketing their business. We get a lot of questions around where to spend marketing dollars, how to utilize social media influencers and everything in between. We compiled 10 of the most frequently asked marketing questions and provide helpful answers to help you navigate this ever-changing space.
- Which marketing is best for small businesses (digital, email, content, direct mail, etc.)? We recommend a good mix of marketing tactics. People receive information in so many different ways, so you need to have a combo of traditional and digital advertising.
2. Should a new/small business utilize all social media platforms, or pick and choose the ones that their industry performs the best on? Be strategic in social media. Choose 1-2 platforms that work well for your business and where your target audience hangs out and engages. Build a strong following on those, then look to add additional platforms.
3. How do small businesses find their target audience? Start by asking what problems or pain points your company’s product or service solves. Who is your current customer and your ideal customer? Look for commonalities between the 2 groups (income, demographics, lifestyle characteristics, media habits, pain points, etc.). BONUS: We recommend defining a primary and secondary audience. The primary audience will be the early adopters and repeat customers that are driving 80% of your sales. Your secondary audience is the up and coming market buying your product, one day growing into your primary audience.
4.How do you create brand awareness for a new business/small business? Become active on social media platforms, be seen in the community, reach out to local/industry press and see if they will feature your new business and collaborate with other local businesses.
5. Why is marketing important for small businesses? Bottom-line, marketing gets the word out about your business and drives leads. It allows you to reach your target audience and grow your customer base.
6. How do you market a small business? One of the best things to do as a small business is network, network network! In addition to that, it all depends on what your goals are for marketing, your budget and how to best reach your audience. Some marketing tactics work better for certain audiences than others.
7. Is influencer marketing a viable marketing strategy for all small business types? If not, which industries benefit the most from it? Influencer marketing can be a great fit for many small businesses and have a big impact on your target audience. The right influencer (for a company’s brand) will have a lot of credibility with their followers and can be highly valuable to increase sales, grow social media channels and create brand awareness. Ideally, you are looking for an influencer that has a loyal audience that matches your audience personas.
8. How big of a part does budget play in coming up with and executing on a marketing strategy? A huge part! Most small businesses have a tight marketing budget. We recommend being very strategic and making sure you have a good mix that fits within your budget and reaches your target audience. If a client has a small budget, we get creative and think outside the box. Partner with an influencer in exchange for product or service, network with people in your industry, partner with local businesses, have a social media contest or create a VIP experience for your customers.
9. How does a small business come up with their marketing budget? The general rule of thumb is your marketing budget is 5%-10% of your total gross revenue.
10. If I have a marketing plan, do I need a sales strategy, too? Yes. Marketing builds brand awareness and drives leads. The sales team picks up the leads from there and, hopefully, closes the deal!
More questions? Email us your marketing and branding questions. Send them to firstname.lastname@example.org.