Introduction
There are around 63 million small business owners in India, and the number seems to keep growing at a greater pace. Thanks to the positive environment that has been set to help small business owners establish their business without much hassle. While that news is as positive as ever, it has its downside too.
As the number of businesses grows, so does the competition around the business. You might find yourself competing with a business owner that lives right across the street or even right across your room. Hence, it has become crucial for small business owners to adapt smart and effective techniques by leveraging the latest technology available to ace ahead of their competitors.
If you are planning to start your own business, you might as well be equipped with the knowledge on the latest technology and skills required to thrive in the business world like the ones taught in the Executive PG Program in Management.
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That being said, here are a few tips for entrepreneurs and small business owners to survive and thrive in the industry.
Best marketing tips for small business owners
1. Robust marketing campaign
A marketing campaign is the perfect blend of multi-channel marketing campaigns that include online and offline marketing campaigns. If launching a comprehensive campaign is in your mind, make it simple, and appealing.
Always make it a point to understand who your audience and customers are. Based on that, you can tailor the content concerning their preferences during festive times. Social media marketing will be one of your best bets this season, as literally, everybody consumes the content via social media. So, if you hit it right in the social media campaigns, then there is a high chance your audience engagement and sales will skyrocket.
For example: If you consider Zomato’s marketing campaign, the ads you get depend on the state you are in or the order address you have filled in. Also, you get ads based on foods you’ve ordered the most or have shortlisted.
2. Offer discounts, contests, and giveaways
People love offers, discounts, and gifts! Moreover, this technique helps reach out to a wider audience base that encourages more people to engage with your brand. Also, there are various strategies one can follow to make the audience share about the brand on their social media handles. All you have to do is announce a giveaway, ask participants to share about the giveaway, and tag their closest friends to take part in it. By doing so, your brand name and products reach a wider audience.
If you had checked the recent Diwali sale, all major online retailers were throwing in discounts and contests to lure customers. Retailers like Myntra, Flipkart, Amazon, etc., have used this technique to increase sales and customers.
3. Value the existing customers
Customers love royalty and loyalty. Just like how customers are loyal to brands, they expect the same in return. Try giving the existing customers an extra discount or a gift to make them feel that the brand cares about them.
Keep in touch with your customers through emails (make a point that they are mobile-friendly) and messages to inform them about new offers. Keep in touch with your customers through emails (make a point that they are mobile-friendly) and messages to inform them about new offers. While designing emails, make sure that it reflects your brand. The logo should be kept on the top, and guidelines for fonts, color palette, image, and style should be in sync.
If you’ve been a subscriber of marketing campaigns of HDFC Bank and Samsung, you would know how they value their customers and offer them special discounts. It promotes the customers to engage more with the brand, thereby increasing sales.
4. If you have a website, dress it up in a festive outfit!
Gone are the days of offline marketing where billboards were erected and pamphlets distributed to make the public aware of the offers and the brand. Now is the age of Digital Marketing, where all marketing and advertising of brands are done online.
Almost every business these days has an online presence, and the majority of them have a website. If your organization has a website, it is time to redesign it as per the festive season. You can either set up special promotions or adopt a holiday theme or do both to make the online experience more enjoyable for the website visitor.
5. Update all local business listings
As per Thinkwithgoogle, there has been a 900%+ growth for search terms related to ‘Near Me’. People often search this way to look for goods and services that are easily accessible to them. It means that your business will stand a better chance if you create and update your business/ brand in the local business community and online directories like Google, Bing, Yelp, etc.
By doing so, the customers would find your business with ease without physically searching for your store.
6. Collaborate with influencers and bloggers
Influencers and bloggers play a major role in today’s social media-dominated society. Their huge follower base makes it apt for businesses to reach out to them for collaborations. But, always ensure that the people you reach out to have their brand and values aligned with yours. For example, if you are marketing a hair care product, ensure you reach out to influencers who have already worked in the same niche.
7. Paid marketing campaigns
Small business owners can leverage paid marketing campaigns like Google ads, Instagram ads, Facebook ads, etc., to reach a wider audience and make them aware of their brand. A Google Economic Impact Report found that businesses make an average of $2 in revenue for every $1 they spend on Google Ads.
Well, that might not be applicable to all businesses, and it is better for small businesses to try it on a trial and error basis rather than just blindly investing a major part of your marketing budget on paid advertising.
Concluding thoughts
With the major points discussed, it is better done than said. It is your responsibility to adopt these strategies and make your holiday marketing and sales a grand success. So, it’s time to ramp up your marketing efforts this festive season, and I hope that these strategies have a positive impact on you and your business.
Also, if you want to learn and gain in-depth knowledge about the various marketing techniques that can help you grow your business, then check the Executive PG Program in Management. The program consists of carefully designed assignments and projects that give you first-hand experience of applications and the impact of the skills learned. Keep reading our blog to know more about strategies and techniques related to sales.
0 Source: GreatLearning Blog
