It’s easy to feel intimidated by the big corporations out there, with their easily recognized brands, staffs of consultants, and multi-million dollar marketing budgets. However, what many small business owners forget is that there are inherent benefits to being one of the ‘little guys’. In fact, sometimes the secret to small business success is to think small. Here are a few ways of using your small business advantage to market your company straight to success.
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Maximize advertising space.
The largest, flashiest, and most colorful ad is not always the one that gets the customers. In fact, many small business owners find that running several smaller ads brings in far more sales than running a few larger ones. Try different ad set-ups and see what works best for you.
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Work with other small business owners.
Contact other local businesses—not direct competition, of course—and offer to trade advertising. Allow them to post a flyer or other advertisements in your location in exchange for their doing the same. If this works out well, you may want to venture into joint promotions and other ‘co-branding’ schemes. These often give you the same level of sales for half the cost.
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Think outside the box.
Small businesses are able to respond more quickly to changes in the market, so use this to your advantage. Always be on the lookout for unconventional ways to promote your business and bring in new customers. This will help you tap into niches that your competition is neglecting while introducing new ways of doing business. Often the most unconventional methods are the cheapest and the most effective.
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Stay true to your brand.
Once you have talked to consultants and have a firm idea of what you are selling and who you are selling it to, you should remain true to this vision in every possible facet of your business. While this may not seem like a marketing move, branding is an essential piece of the marketing puzzle.
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Track results.
Large companies can’t always tell what avenues are bringing in the most customers and sales, but you can. You can try simply asking customers where they heard about you. Another successful ploy is to offer a special discount code, with a different code for each of your different marketing ventures. Once you have solid numbers on what methods work best for you, you can move on to the last step.
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Focus marketing efforts in areas that have proven successful.
This is the best way to grow your business steadily. There is always room for experimentation, but most of your marketing budget should be spent in ways that increase sales and increase awareness of your brand.
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Cater to repeat business.
It costs nothing to make old customers feel special, but this sense of appreciation can mean the difference between success and failure. Offer special hours and special promotions for repeat customers. If these aren’t practical or affordable, simply thank them for their business on a regular basis. You’d be surprised at how far a simple thank you will take you!
