One very important difference between small businesses and Fortune 500 A-listers is the budget to be more precise, the marketing budget. Unlike their wealthy counterparts, the marketing budget that a small business has is very limited.
This is the reason why many small businesses hesitate to market because they know for a fact that producing marketing collaterals for examples such as poster printing and custom posters takes so much of one’s resources, not to mention the creative staff one needs to hire to design excellent pieces. Small businesses cannot really compete when it comes to having the best print collaterals in the industry.
Know About The Small And Big Business Marketing
But this does not also mean that small businesses can just accept their lot and make do with what has left them. Small businesses can work around their insufficiency and create a well-rounded marketing program that combines sales efforts with marketing strategies.
Based on well-done research, you can provide your target audience with marketing activities that will not only reduce the money you shell out every time you have your campaign but also puts value to your efforts when you are able to connect with your clients and prospects. The connection you create with your campaigns is more precious and priceless as you can then use it to zero in on the most effective marketing campaign that your target market will respond to every time.
So although as a small business you have a very limited marketing budget, it does not mean that you cannot compete with the Fortune 500 businesses. On the contrary, you can; as long as you think of more creative ways to go about it.
Here are some ways you can launch your marketing campaign without having to deplete your limited budget:
- Choose to have market-sharing activities with your vendors and associates. You can also ask other businesses in your industry to participate in the co-op marketing campaign so you can share the expenses.
- Do not stop marketing. Spend time sending your customers and prospects incentives to encourage them to keep on engaging in business with you.
- Network with the media. Introduce yourself and build a relationship with them. Free publicity is one of the best means to get visible.
- Position yourself as an expert. Write articles and post information that you know can help your target clients so you can be known as an expert in your field.
- Practice piggybacking. Be where the events are. Offer to distribute flyers and even put up custom posters to an event in your town or locality. The consumers will definitely see you and it will boost your image as a community-based business.
Finally, when you do spend your precious resources on your marketing campaigns, be sure to have a system to track them down and their results. By doing so, you will be able to know which ones work and which ones need to be replaced with another strategy.