Marketing Strategies for Small Businesses: Tips and Tricks

 

By Olumide Labulo 

Of the four major factors of production, consumer (consumption) which seems not to be one or the least is ironically the most important. If goods are produced and are not consumed, then the cycle of produc-tion isn't complete. That's why many companies invest heavily on marketing campaigns of all kinds to put their products in the faces of people---potential consumers because they know how important it is to the success of any venture.  

Now, imagine what happens when you don't advertise what you do. All you will have instead is a hobby. No wonder Steuart Henderson Britt says, "Doing business without advertising is like winking at someone in the dark. You know what you’re doing, but nobody else does.” As funny as this quote sounds, it's the absolute truth. Marketing is the lifeline of your business: it's what brings the patronage that keeps your business in good health (sustenability). It's what makes people buy why you do what you do (Simon Simek).We can't  ingnore the fact that limited budgets and resources can make marketing challenging, but with the right strategies, small businesses can maximize their outreach and impact. 

First of all, small businesses can leverage on social media marketing by engaging with a cross-section of people through targeted ads on platforms like Facebook, Instagram, Twitter, LinkedIn, etc. Secondly, content marketing has its own flavour. Hiring good writers to create good and captivating blog posts, videos, and infographics to provide valuable information can attract more patronage to your business. 

We can't deny that influencers have become an integral part of today's business world. Hence, their impact cannot be underestimated. When you collaborate with local influencers, your brand visibility increases and moee people get to know about your product or services. 

Sponsoring local events and competitions is another sure way to get your product out there. But if your limited ad marketing budget won't allow that, just weigh your options and focus on the ones that will still get you results like networking and building relationships with other businesses, offering limited-time promos. Also, create a brand page on all social media platforms and stay consistent by regularly posting and maintaining your brand voice.

Small businesses have numerous marketing strategies to explore, even with limited resources.Remember that marketing is non-negotiable. And annonyingly (lol) it's always bias towards the best known and not the best product.