7 Effective Marketing Ideas for SMEs
- BY Jaspreet Kaur
Feature Writer, BusinessEx
- Aug 18,2020
- 18 Mins Read
Technological advancements are dramatically changing the world. As a result, technology has embedded into every aspect of the life. Some of tech-enabled services that are immensely used are education technology, e-payments, e-mails, and online shopping. In a similar vein, technology has impacted the way sales are being performed. It has fused with the sales and marketing realm and created a new segment called digital marketing. The digital marketing is a cost-effective and efficient method that can be employed by all types of companies. Unlike large corporations, small companies are employ digital marketing through a small budget and make their presence virtually.
Micro, small and medium sized enterprises (MSMEs) can basically use various digital marketing strategies like email marketing, content marketing, and social media as per their requirements. In the digital realm, innovation and uniformity are prerequisite so as to attain excellence and recognition. It is uncertain as combination of which strategies can help yield success, thereby, MSMEs are suggested to created different strategies at one time.
According to Hubspot's 2020 survey, 15-25 per cent marketers believe that the companies should spend between 20-25 per cent from the overall marketing budget into the paid advertising. While 68 per cent of marketers stated that paid advertising is 'very important' or 'extremely important' to their overall marketing strategy.
While digital marketing strategies vary from company to company, here is some marketing ideas that every business should implement into their business.
1. Create Your Presence on Social Media
Once the company creates a website, its job does not end there. It has to create company pages on different social media platforms like Instagram, Twitter, LinkedIn, and Facebook, etc. It has to give a virtual recognition to its brand and build relationships with new customers.
If a company has a strong presence in digital realm, then netizens can reach it anytime or drop a message to know about its product. In this way, the Internet can help generate more leads for the business. According to Statisa' Survey 2020, 69 per cent of social media marketers said that they increase usage of Instagram in the future.
While using the online platforms, a company need not underestimate the importance of offline marketing. It should equally infuse money into online marketing as well as offline marketing.
2. Write Blogs and Talking About Products
Small businesses are not efficient in writing blogs and consequently, they employ writers, as well as bloggers, to do that. This, in turn, increases expenses for the businesses as they have to pay off remuneration to writers or bloggers. In order to lessen this expense, small entrepreneurs can hone their skills and start writing small articles themselves.
While writing these articles, they can emphasis on the industry they are working in, then move on to offerings they are providing and at last, tell how they are creating a difference in the ecosystem. Similarly, various articles and blogs can be created and posted on the social media platforms. From time-to-time, they can modify the content and add prevalent researches, trends and data into the blog. In this way, users will consume an updated content and will continue to stay along with the company.
By performing this tactic, companies will get visibility on the Internet and their rank will also improve on the search engines. Besides this, organisations can send emailers to their clientele and also, to the potential customers that they are targeting. This strategy will help market product, as well as services, and grab more leads in the offing.
3. Word of Mouth Marketing
Small businesses that have good customer satisfaction rate can make use of this strategy. Besides retaining customers, they can request them to give feedback and put positive comments as testimonials on their website. They can further stimulate customers to talk about desired company's products and services on their respective social channels. In this way, a company's reach will increase on the social media and interested customers will contact organisations. Trust and goodwill will be created in the market through word of mouth.
4. Connect with Influencers
On the Internet, there are various individuals who employ the right social media strategies and create a large base of followers. These influencers review products, impart knowledge and also, promote companies some times.
Small companies can connect with the influencers and get their product and services promoted through them. Once an influencer talks about a company's products, his followers get to know the product and are also encouraged to purchase it. This method can give a large amount of potential customers at once and increase trafficking on the company's website.
6. A Combination of Strategies
No strategy can guarantee a large queue of followers or customers behind the company. Thus, a company has to observe, assess and assemble a set of digital marketing strategies that it will be working on. Once it formulates a plan, it has to work on it persistently in order to get the desired results. It should not postpone marketing activities for long and immediately execute them so as to borne results.
For instance, if there are blogs or articles created, then an organisation has to immediately post the content on the social media. Once published, blogs and articles can be published again after slight modifications.
7. Narrate the Company's Story
There is an easy way to connect with the customers and target audience that is, story telling. In order to build an emotional connect, companies have to tell their importance to others. This can be done by informing the origin of the business idea, what initial foundation was, how it changed over the years and what major moves it has taken to adapt to the customers’ preferences. This will surge images of an organisation and engender an image that will create ties with the customers.
While telling the story, a company should choose a digital platform as it help reach customers faster. The digital platforms can acclimatize as per different devices and thus, companies should create videos and other content for desktops as well as mobile phones.
The above-cited strategies should be used by the companies. These strategies help attain success and considerable growth in a short span. The companies should also ensure following the cited digital marketing strategies persistently. A continuous use of strategies offers a long term success and increase conversion rates indirectly.
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