Small Business Guides

How to Successfully Market Your Business

Marketing your business is one thing, but successfully marketing it is another.

Advertising your business to the entire world is a great place to start. But if you’ve kept your startup costs low, saving money in areas like using a free company formation tool, the money you’ve put aside for marketing could be wasted if it does not turn into worthwhile traffic.

Thankfully there are different ways to market your business that will prove successful. Here are just a few of them:

1.   Make an elevator pitch

Wherever you are: Market your business.

Whether you’re in a line at the grocery store, at a networking event, or attending a social event, know what your business does and how to sell it.

You never know who might know somebody looking for the exact product or service your business is offering, and a compelling elevator pitch could result in you cementing a new customer!

Research conducted by Microsoft revealed that the average attention span of an adult is between 6-8 seconds. Hone your pitch so that your listener is hooked in the first 5.

2.   Use your community

When it comes to marketing, there are local marketing strategies that will cost you very little and reward you with a lot.

Close knit communities will always want to sponsor a local business, so be proactive in making connections in your community.

Look into community fundraising efforts like sponsoring a charity event, or print marketing collateral like leaflets and flyers and post them on community message boards.

Think about your target demographic too and consider where they spend their time, then place an advertisement for your business in that spot. For example, a digital marketing agency could post a flyer in a community computer lounge.

3.   Collaborate

Think about your business and reach out to non-competitors whose products or services your goods or services complement.

For example, a hairdresser could collaborate with a brand new beauty parlour.

Cross-promote on your marketing collateral like flyers and promotion materials, but also run promotional campaigns online on your social media and website. Both businesses will be reaching double the potential consumer market, so there’s a lot of room for new business and great promotion at hardly any of the cost.

4.   Network

Networking is a powerful marketing tool because you can begin to build face to face relationships with potential customers, investors, and partners.

Whilst networking may involve going to events and socialising after a long day, the rewards will be worth it. You could meet people whose ideas could boost your small business and with whom you could create fulfilling partnerships with.

Make sure to hone your elevator pitch before these events, as it’s the best place to try it out.

5.   Get Social Proof

Customer reviews and testimonials are one of the most powerful marketing materials a business can possess.

They build trust, show that your business is genuine and good at what it does, and best of all - they’re free.

With research showing that 84% of people trust online reviews as much as they do friends, don’t be shy about asking customers to leave them.

Reviews can appear on your website, on your social media, and even into your promotional materials.

6.   Offer discounts

An incredible 93% of U.S shoppers cite discounts as important when deciding whether or not to purchase from a brand.

That’s an astounding figure, and it’s true. Discounts are an incredibly successful way to drive new business into your store.

People love receiving something, so offer discounts for things like signing up to a mailing list, or taking part in a contest or giveaway.

Discounts that are built over time in a loyalty programme can also encourage repeat customers and return visits, so implement these wherever possible if your bottom line can afford to.

These six effective, inexpensive and successful marketing strategies will help you engage new customers, drive more traffic and ultimately promote your business at very little cost. All marketing is effective as long as it is strategized to reflect the goals and aims of the business, so keep this in mind when you begin to advertise your business to the world.