Unlike big business, small businesses often have smaller marketing budgets. This means they have less time and resources to devote to strategic marketing. Luckily, there are several systems and tools that can help small businesses to get their name out there. These include social networking, online reviews and a good old-fashioned phone call.
The best way to go about making the most of a small marketing budget is to determine which marketing channels will yield the most bang for your buck. For example, email marketing may have a high ROI, but if your target customer base is the Gen Z set, local newspaper ads may not be their cup of tea. A better tactic is to develop a mobile friendly website that enables customers to connect with your business from their smartphones.
A good marketing plan will also highlight which marketing channels have the most visibility amongst their target audience. For example, while there are several social media platforms, it might make sense to focus your attention on Facebook and Twitter in particular. This is especially true if your target customer base is the Millennial demographic.
Some of the best marketing strategies are based on a customer-centric approach, such as a strong customer service department that can be counted on to address customer complaints. A well-executed customer service department can help reduce response times and improve customer relations. A great customer service department can also lead to higher repeat purchases, and ultimately, increased revenue.
The most efficient way to execute this is to use a customer relationship management system (CRM). This database is a treasure trove of consumer information, and can be used to promote products and services to targeted prospects, as well as track customer behaviors. In addition, the CRM may be the only department within your company with a comprehensive understanding of your target market, which is a valuable resource. A CRM will not only help you with your marketing efforts, but it will also assist you with your overall business strategy. A CRM will also help you to manage your employees’ responsibilities and track performance metrics such as productivity, quality and retention. A CRM is a must have for any small business.
As mentioned above, there are numerous marketing tools and systems that can help you to make the most of your marketing budget. However, some tools are more essential than others, such as a robust CRM.