Small Business Marketing Tips For Beginners
Even with the ongoing effects of the coronavirus pandemic, marketing for small business has never been more important - but where do you start?
The sad reality of trading in Australia is that it truly is a jungle out there. According to the Australia Bureau of Statistics, more than 60% of small businesses cease operations entirely within their first three years of trading. One of the most common reasons that they fail is due to a lack of cash available to meet their expenses, particularly within the first six to twelve months - and these figures were issued before the arrival of Covid-19.
If you want to avoid becoming another statistic, then the good news is that getting your brand’s name out there might just be easier than you think.
Six Marketing Tips For Small Businesses
Marketing is the process of getting your brand noticed by audiences who either want or need the services or products that you supply. While many entrepreneurs are brilliant in coming up with a potentially lucrative business model, sadly many fall flat in getting the message out there.
If you’re looking for ways to start building a solid advertising strategy, the good news is that there are plenty of ways to start small business marketing without it costing a fortune.
Know Your Audience Be sure you know the type of people who like or relate to your product or service before you start marketing. It’s not difficult to measure the gender, age, location and even hobbies of who is viewing your content via analytics, enabling you to “hone in” on them.
Be Specific - Not everybody is going to like you - now read that again. Don’t be afraid to get really specific in terms of who you are as a brand and what consumers can expect from your products, as this is what will ultimately make you stand out from your competitors.
Quality Over Quantity - Instead of throwing your energy into twenty different campaigns and not giving it your best shot, try starting small. This is particularly relevant if you’re new to advertising on social media, as not all platforms may suit the nature of your business.
Test Regularly - A common mistake in small business marketing is walking away from a campaign after you’ve pressed the “go” button. Be sure that you’re regularly tracking the metrics of your success, so that you can visibly see what’s working vs what’s not.
Offer Value - Despite popular opinion, not all of your marketing methods need to be about the hard sell. Instead, try offering value to both new and existing clients by giving them useful or educational information, as this will boost their confidence to buy further down the track.
Keep Going - Most importantly, if you don’t see immediate success - don’t give up. One month of marketing is rarely going to quadruple your income, and advertising is definitely not a “one size fits all” solution. Keep experimenting, keep testing, and keep going.
At the end of the day, even if you start small - it’s better than not starting at all. Sometimes marketing is hard because you're spending your energy the wrong way, so don’t be afraid to outsource if your budget allows it - it might just be more affordable than you think.
Where To Get Professional Guidance In Small Business
If understanding your finances or the in’s and outs of doing business isn’t your strong point, then it may be reassuring to know that you’re not alone. In fact, many businesses (big and small) enlist the services of an accountant and business coach in order to free up their time, while knowing that their financial obligations are already taken care of by the professionals.
What you choose to invest in or shy away from as a business owner can have a domino effect that ripples through your entire team - so are you confident in your financial choices?
At Muro, we are more than just accountants - we offer our clients strategic business advice and ongoing support to help them reach their business and financial goals. Get in touch with us at Muro today to ensure that you’re on the right path for success in starting a business in 2021.