Why do most new small businesses fail? It’s often not a matter of an inferior product or poor service. It is often because they neglect to recognize an important part of any business plan: acquiring new customers. And the best way to attract potential customers is through a well-crafted marketing campaign. While there are a number of different approaches you could take, there are a handful of strategies that are not only inexpensive to implement but also get the results you are looking for.
Here are 5 smart ways to invest your marketing dollars:
1. Create a Website
Whether you sell a product or service online or not, a business website is a “must” for any small business. You don’t need to invest huge dollars into an elaborate site though. Start simple with a strong web domain name, a web hosting service, and a web design service. Just a few quality landing pages is enough.
2. Hire a Marketing Firm
Hiring an expert to guide your business’ overall marketing strategy can be instrumental in your overall success. An experienced marketing firm can help you tap into the more advanced worlds of pay-per-click advertising and SEO optimization. They can also assist in curating quality content for your blog and social media profiles.
3. Strengthen Your Social Media Presence
A social media site such as Facebook is where most small businesses start their online marketing presence. Applications such as Pinterest, Twitter, and Facebook are low cost, easy to use, and can sometimes offer quick results. Plus these sites offer the unique opportunity for you to engage with customers online.
4. Invest in Quality Print Materials
Professional business cards, brochures, and pamphlets never go out of style and are a great way to keep you in the customer’s mind. They can be especially useful when building your customer base through word of mouth and person-to-person advertising.
5. Conduct Market Research
You can’t develop a winning marketing strategy if you don’t know what appeals to your target audience or who your competition is. Market research can help you uncover the best path for success. Online or in-person surveys are great for defining the wants/needs of your audience. You can also gather third party research online for helpful insight into the mind of the customer.
When looking for a marketing partner with experience in the field look no further than GMS. We specialize in working with small businesses developing strategies with their unique needs in mind. Contact us today to see how we can help get your marketing campaign off to a great start.