In the ever-evolving world of marketing, small businesses must include new and time-tested approaches to succeed.
Small businesses have a very unique position in their respective markets. While locally owned and operated, small businesses must also compete with larger competitors who are often regional or national. With budgets nowhere near approaching some of their counterparts, small business owners must have their marketing game on point in every respect, including using new tech and more traditional marketing plans and strategies. Only companies that use both well will emerge and grow.
The ideal marketing plan should always be multi-pronged in its approach. Marketing tactics for any small business must be composed of in person, online and mass media elements. This approach allows for any type of business to reach all potential customers, regardless of their demographic or marketing preference.
Striking The Right Balance
Consider a small business in a small town with a lot of repeat customers of varying ages. This scenario would include potential customers who pay attention to social media posts and advertisements, as well as customers who rely on flyers and print media to receive their information. It’s a delicate balance that must be considered and utilized. Neglecting either side of the marketing equation is a poor choice for any company, especially a small business.
Social media, Google search, email, and other forms of digital communication are key marketing channels for many customers. Of course, while these technology-driven marketing channels are important, small business owners must also consider using more traditional forms of marketing to satisfy customers who simply don’t utilize online-based tools. While spending on this portion of an overall marketing plan has been trending downward, there will always be a need for flyers, signage, advertisements, brochures and even basic business cards.
Just as technology and forms of communications have evolved, so, too, has marketing. To succeed in today’s environment, you need to evolve your marketing efforts. Fortunately, small businesses can now utilize different tools to make their marketing efforts considerably easier and, at the same time, more advanced. For example, technology such as LSMx allows you to quickly and effectively target your best prospective customers without having to worry about collecting or mining customer data to determine your best prospects.
Using The Data
These trends lead many small businesses to wonder what their best options are when it comes to creating their own essential guide for marketing their unique business. One of the most important aspects of marketing, regardless of the type used, is intensely studying customer data.
Businesses must truly know their customers, their active customer base and their potential customer base. That used to involve a lot of legwork. Nowadays, technology can do a lot of the legwork for you. Forget about having to mine the data yourself. Technology such as that offered by LSMx gives you the ability to very easily target your ideal customer base without needing a marketing degree, data science background, or years of experience.
The one fundamental truth about marketing any business in today’s competitive environment is that both new and traditional marketing need to be used in conjunction for optimal results. A small business is now able to use the technology options available to make even better offline decisions about marketing materials and approaches. This all leads to a more coherent and cohesive approach that will help brand and grow your small business.