Marketing is essentially any activity that promotes your products or services to potential customers. It helps fill your sales funnel with prospects so that your sales people can take them through your sales process and hopefully generate a sale from them. The biggest difference between general marketing and marketing for small business is that small business has a more limited budget. In other words, their return on investment for marketing is a lot more critical.
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As we mentioned above, with small business it is critical that whatever marketing they undertake, it generates leads and sales at a reasonable cost. Unlike big business, small business can't really afford to spend thousands of dollars on a branding exercise to promote their overall brand with the hope that this may generate leads and sales down the track somewhere. Now don't get us wrong, we're not saying that branding isn't important, we just believe that a good marketing campaign is a higher priority. So what small business marketing strategies have the best return on investment?
This is also often referred to as Interuption Marketing, as that is exactly what it does. You interupt people in their daily lives with your marketing message hoping to find the odd person who is currently interested in what you have to sell. This covers such forms of advertising as Radio, TV, Newspapers, Magazines and Signange etc. Whilst these strategies definitely work, they can cost a bit per sale as you need to target a lot of people to hope to atract a few.
Find out more about Outbound Marketing.
Inbound Marketing is where you attract people to your business who are currently interested in your products or services. Unlike outbound marketing where you are just advertising to anyone hoping to interest a few, inbound marketing is more targeted and is only really seen by people looking for what you sell. Common outbound marketing strategies are website content marketing, search engine optimisation, social media and Adwords.
Find out more about Inbound Marketing.
Digital Marketing essentially covers any form of marketing done on the internet. So this actually covers strategies in both inbound and outbound marketing. This is what we specialise, so to learn more simply look around our website.
This is all those marketing methods that small business has been using for generations. It is also often referred to as offline marketing as it covers those strategies that don't involve the internet. Common examples are similar to outbound strategies as well as things like Yellow Pages etc. Whilst these still work, we truly believe that you get a better return on your investment by spending it on online strategies.
Now these aren't all the different marketing strategies available to small business, but it defintiely covers the main ones you'll come across and maybe wonder what they mean. Whilst they all have their place, we believe that every small business should have a good digital marketing strategy above all else, as this not only gives you a great return on your investment, but importantly ca be measured very easily.