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HomeSummaryThe Ultimate Guide to Small-Business Marketing - NerdWallet

The Ultimate Guide to Small-Business Marketing – NerdWallet

Developing a marketing strategy for small to medium businesses can aid in reaching, developing, and maintaining customer relationships. Both online marketing (including a business website, social media profiles, and email campaigns) and traditional marketing tactics (such as print ads, billboards, flyers, workshops, and pop-up events) can expand your audience reach. The marketing strategy should be based on your goals, customer base, market niche, budget, and personal preferences.

Firstly, it’s important to define your marketing goals and understand how they can help you achieve your business objectives. Identifying your unique selling proposition (USP) is crucial as it differentiates your business from its competitors and should be emphasized in your marketing materials. Quantifiable goals are recommended for easy tracking and result measurement. Metrics to consider include lead generation, website traffic, social media engagement rates, and conversion rates from browsers to buyers. Effective marketing also contributes to brand recognition and customer loyalty, which are vital for long-term success.

Understanding your target audience is the next step after determining your marketing goals. This can be done by reaching out to your existing customers through phone calls, emails, online surveys, or in-person interactions. Gathering data on your target audience’s demographics and their preferred shopping platforms can help tailor your marketing strategy.

Online marketing is a significant focus for many businesses due to its cost-effectiveness and wide reach. A business website is at the heart of online marketing where potential customers can learn about your business and its offerings. It’s important for the website to appear on the top results of web searches, which can be achieved by optimizing the website for search engine optimization (SEO). Website analytics tools can provide insights into visitor interaction and browsing habits, which can help optimize the website further.

Creating business accounts on popular social media platforms can also help customers find your business. According to a recent survey, 42% of Americans use social media platforms to find the small businesses they support.

Key Takeaways:

  • A well-crafted marketing strategy, which includes both online and traditional tactics, can help small businesses grow their customer base and increase brand recognition.
  • The marketing strategy should be based on clear, measurable goals and a deep understanding of the target audience, their preferences, and their shopping habits.
  • Online marketing, especially through a business website and social media profiles, is a cost-effective way for small businesses to reach and engage with a larger audience.

“Creating a small-business marketing strategy can help you reach, develop and maintain relationships with your customers. Online marketing — including a business website, social media profiles and email campaigns — can help a small business reach a larger audience. Traditional marketing tactics such as print ads, billboards and flyers, as well as “experiential” workshops and pop-up events that allow customers to experience your products and brand, can help broaden your outreach.”

More details: https://www.nerdwallet.com/article/small-business/small-business-marketing

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