Did you know the Small Business Administration recommends that businesses earning less than $5 million in annual revenues should spend 7-8% on marketing?
You might not be adhering to this recommendation, but like most small businesses, you’re spending money on marketing. The big question is: are your marketing efforts paying off?
When you invest in marketing, you want to see an increase in sales. This, though, isn’t the only thing you should gain. A proper marketing campaign should also increase brand awareness and enhance customer loyalty.
Are you struggling to yield the right results?
In this article, we’re sharing marketing suggestions that will help your business. Read on!
1. Know Your Target Market
Knowing your target audience is the key to running a successful marketing campaign.
Why? You ask.
Different customers have different consumptions preferences. While it’s not possible to cater to the needs of every customer, customers that belong to the same demographic group tend to have similar preferences.
For example, Gen Zers typically have different preferences compared to their parents, who might be millennials, Generation X, or boomers. This is why a social media platform like TikTok is popular among Gen Zers but Facebook is popular among boomers.
When you know your target audience and their consumption preferences, it’s easier to develop a marketing plan that will deliver good results.
2. Digital Marketing Works
Back in the day, advertising in newspapers, magazines, billboards, and on television worked. Today, marketers are doing their thing on the internet.
If you’re yet to embrace digital marketing, you’re leaving a lot of money on the table.
Digital marketing encompasses all marketing strategies that are implemented on the web. There’s search engine optimization, paid per click (PPC) advertising, social media marketing, and influencer marketing.
You’re probably wondering what digital channels you should focus on. Well, it all depends on the nature of your business and your target audience.
If you’re running a business that targets Gen Zers, for example, social media and influencer marketing should be your go-to channels. This is because the young people you’re targeting spend most of their time on social media.
3. Don’t Ignore Print Marketing
Print marketing is dead. True or false?
While print marketing isn’t as vibrant as it was two decades ago, it’s still being used by millions of businesses and marketers. This is because, unlike digital marketing, print marketing is tangible, thus able to evoke a better emotional connection with customers.
Not every form of print marketing is ideal for your business, though. If you’re on a shoestring marketing budget, for instance, there’s no need to spend your precious dollars on newspaper ads.
You can use flyers, which are low-cost but effective, especially if you’re marketing an upcoming event, product, or service. Try this flyer maker free the next time you’re creating a business flyer.
Put These Marketing Suggestions to Use
You might have a top-shelf product or service but without the right marketing strategies, not many people are going to learn about it. With these marketing suggestions, though, you now know how to put your marketing vehicle in motion.
What’s more, you can find more marketing advice on our blog. Stay tuned.