When running a small business, one often has a look at the various costs and wonders where money could be saved. One then would ask what is truly important to the business. Often at this stage, small business marketing comes into question and its importance is debated. It is crucial that the contribution of the marketing function to your business isn’t understated and their importance isn’t undersold. Below are some of the most crucial factors that marketing can contribute to your small business:
It Creates Brand Awareness
In order for your business to be successful, your prospective customers need to be aware of you. Creating brand awareness is one of the most important outcomes when undertaking small business marketing. Whilst you may have an excellent product or service, customers need to be aware of your brand. Similarly, a brand awareness campaign can be used to generate a desire for your product amongst your target market. Creating this desire almost guarantees an improvement in sales performance.
Brand awareness is best explained in the following way: Think of a soft drink. Probably nine out of ten people will respond by saying Coca-Cola. This is because of their superior brand awareness that they have created. As a result, many people ask for or reach for a Coca-Cola when choosing a beverage. Purely because it is the first one they think of. Whilst they are a global brand with the resources, the strength of their brand awareness has led them to become the most popular cooldrink in all but two countries. This shows how brand awareness can lead to tangible business results.
Once you’ve achieved some brand awareness, you can use it as a channel to communicate with your target audience.
It Is a Key Communication Channel
Communication is key. After all, how will people know what your business is doing if you don’t tell them? Marketing your small business is the perfect way to keep people informed about you and your business. Whether it is running promotions, launching a product or simply reminding them that you are there, it is vital that you are on the mind of consumers in your target market. Small business marketing can help you to get there.
A fitting example of using marketing as a communication channel is Apple. They continually adapt and improve their software and products. They keep their customers up to date by releasing clear and easy to understand information about these updates. In doing this, they maintain communication and a link to their customers. This has resulted in an extreme brand loyalty and significant customer satisfaction.
It Allows You to Compete with Larger Competitors
Good marketing efforts allow small businesses the opportunity to compete with larger corporations. Thus, your brand can better compete for a bigger market share. By getting your business into the eye line of the customer, you can offer an alternative product that may provide unique benefits. One significant advantage that smaller businesses can have over larger corporations is the amount of personal attention they can offer their customers. Giving customers individual attention can make customers feel truly valued. Great customer service by small businesses is often more important to customers than discounted offerings at large competitors.
It Drives Sales
Perhaps the most important reason for small business marketing is that it drives sales. Sales are the lifeblood of any business regardless of size and without them, they cease to exist. The efforts of your marketing will lead to a variety of outcomes that drive sales for your business. From increased brand awareness, good product communication and exposure, your brand will grow. The larger the audience aware of your business, the more potential you have to generate leads and make sales. Ultimately, the end goal of any marketing campaign often boils down to increasing sales.
Marketing is one of the first areas that many small businesses look to cut costs, but it’s a key driver of business performance. An effective strategy provides a platform to create awareness, communicate, compete and close sales with customers. Using this platform is a perfect opportunity to launch your business towards its goals and achieving the successes that you have targeted. Essentially, marketing is the bait on the hook that your business is fishing for customers with. Whilst it is possible to catch a fish with just the hook, you’re far more likely to attract and hook customers if you give them a reason to bite.
At PrimePixels, we’re experts at small business marketing and have the tools and skills to assist you on your business journey. With many business growth services on offer, there is something for everyone. So get in touch, we’d love to see how we can help.