If you're in the first few years of your company's existence, you may be looking for marketing strategies for small business. Your focus should be on improving sales and increasing revenues. This article outlines six ways to realistically boost business growth...
Does your business growth need more fuel? Try these marketing strategies!
There’s a lot that goes into growing a business. Most of your efforts should focus on increasing your revenue in some way. Sales and business development will be the biggest demand of your time. You’ll also need solid, customized marketing strategies.
Why spotlight marketing? Brand awareness and lead generation are two of the largest reasons. By exposing your brand to more people, you can get them started through your sales funnel.
Advertising plays a direct role in your business growth. You’ll have multiple options to choose from. Success comes from the quality and execution of strategy.
Each channel has pros and cons. Compare your goals with the advantages of each channel to find the most advantageous.
Let's take a closer look at six top marketing strategies to boost your revenue.
Focus On Search Engine Optimization
Every company will need a website, regardless the industry. Simply having a site isn’t enough. It will actually need to work for you and attract potential customers to your web pages.
If you sell products online, that’s especially true. Search engine optimization (SEO) is the process that focuses on assuring your website ranks well. Typically, this will be based on specific keywords or phrases that people search for that are relevant to your company.
There are technical aspects involved. Get a good start by looking at the content on your website, such as the titles, subtitles and whether the words are relevant to your business and niche.
Utilize SMS Marketing Strategies
SMS marketing, also known as text marketing, exploded in popularity when cell phones became widely used. As other forms of marketing became better utilized, popularity decreased. But it can still offer multiple benefits.
Certain forms, such as retail SMS marketing, can offer a wealth of advantages. The fact that most people have cell phones means that you’re almost guaranteed that they’ll see your message. That makes it a marketing channel that’s much less ignored than alternatives.
After all, it’s easy to ignore a social media post. It’s more difficult to ignore a personal text message. You'll see relatively high engagement rates, which is one of the prime objectives of any marketing strategy.
Depending on how many SMS marketing messages you send in a month, this could be a low-cost strategy.
Get Familiar With Retargeting
Retargeting is something many business owners aren’t familiar with. It’s one of the most effective marketing strategies, however. If someone has already bought from you, they’ll be more likely to buy from you again.
You might need to give them some encouragement. Using retargeted ads on Google and social media is the best method. The cost of retargeting a customer is usually less than the cost of finding a new one, making it one of the more cost-effective options to choose.
Invest In Your Social Media Presence
For years, many marketing professionals have said that a company’s website is its face. If that’s the case, social media is its personality. Potential customers expect to see a brand on at least a few social media platforms before buying from them. At this point, companies look less legitimate if they are not on social media.
It is not wise to set up accounts and leave them inactive. You’ll need to post regularly and interact with your audience. Doing so keeps your brand top of mind while offering multiple opportunities to sell your products or services.
Develop A Loyalty Program
Optimally, you want your marketing strategies to increase sales.
If you want customers to buy from you regularly, then you could implement a loyalty program. These have been effective for retailers such as Starbucks for quite some time. In its basic form, this is rewarding a customer for buying a certain number of products from you.
Typically, these purchases will span multiple visits. While this means giving away something for free as a reward, it does mean increased revenue. The key is to make sure the loyalty program provides as much value to your company as it does to your customers.
You need to balance costs and margins to absorb the costs of giving away free products.
Understand Conversational Marketing
Conversational marketing is a relatively new strategy. It does show consistent results when implemented. As the name would suggest, this is marketing through online conversations.
Conversational marketing typically uses chatbots and other automated messages to help customers. There is usually also has a customer service function. Using this as a marketing strategy cuts down on the amount of employee time needed to help your customers while also providing people with a positive customer experience.
Implementing Your Marketing Strategies
It’s one thing to know what marketing strategies you can choose from. It’s quite another to actually implement them. Each will have their best practices, alongside recommended ways to execute. Knowing which ones will benefit your company the most is the first step in the process.
You’ll then need to create:
- Marketing materials
- Calls to action
- Content
All according to your strategy.
Given the various best practices required, you could spend a while on this. Your brand message should be consistent and your chosen medium should be optimized.
Hashtags might be recommended for social media. You might create a branded hashtag to track the success of your loyalty program. Keep with best practices for your marketing strategies to avoid potential mistakes.
