Competition will always be tight, no matter the industry you are in or the size of your business. According to research, one of the reasons many startups fail is the lack of business knowledge, which encompasses operations, finance and marketing.
Many budding entrepreneurs are confident about having enough capital to put up a business but lack the know-how in operations, branding and marketing. However, it is crucial to have a solid background in operations as well as marketing.
If you are concerned about the budget for promoting your brand, these tips are sure to help you out.
Almost everyone is on social media these days that big platforms now provide consumers with the option to shop via social media markets. This makes social media marketing for small businesses even more effective.
However, keep in mind that you also need to use effective marketing strategies to achieve a successful social media campaign. Make sure to do your research and hire a professional who can help you get a head start in online marketing.
Although the digital age is already upon us, it would still be unwise to underestimate the power of print media. It is powerful in crowded areas, such bus stops and train stations, schools and cafes.
If you have the budget, you put up posters in permitted areas, but if not, print fliers that have discount coupons or freebies on them. Keep in mind that it’s always easier to redeem a free item or 30% discount rather than 5%.
Word of Mouth
There is no better way to spread good news than to provide excellent service. In the age of the internet, customers often look for reviews online prior to making a purchase.
Approximately 62% of consumers check reviews and social media pages to get an insight on the product, service or business they are interested in. So, it pays to have competitive, trained, and courteous staff, especially if you’ve just started out.
Starting a business is never easy — but not impossible. Keep in mind the important things: finances, operations, marketing and of course, working with the right people.