Establishing a business can be incredibly exciting and satisfying venture, but it is not easy. Many small firms fail within their first few years, so you must be strategic from the start if you want to succeed. As a new entrepreneur, you’re undoubtedly more motivated and committed than ever. Yet it’s critical to focus your efforts and resources on the proper techniques. Without a clear and concrete plan for development, your small business might struggle to take off. Thus, to help you, the following marketing methods are listed below:
1. Social Media Marketing
SMM is a form of internet marketing that makes use of social media apps as a marketing tool.
To begin, these social media platforms allow brands to promote via native ad functionality or sponsored ads to target the right audiences based on a variety of characteristics such as demographic information, retargeting, and behaviors. It also enables businesses to develop relationships with their target audience. On the other hand, it offers an opportunity for customers to ask inquiries, express complaints, and generally be heard. Most importantly, it allows brands to respond, adapt, and adjust their products or services.
Some widely used social media apps to consider are Facebook, Twitter, TikTok, YouTube, and Instagram.
If you want to learn more about digital marketing, check out these three articles:
- Data-Driven Digital Marketing
- Unleash the Power of Digital Marketing
- Social Media Marketing Strategies That Can Boost Your Business
2. Actively Join in Groups and Forums
Facebook groups provide you with greater organic reach.
You may verify this by going through your own Facebook feed. Doesn’t it take long to find a group post?
Facebook groups and forums enable you to interact with your consumers on a more personal level. In many circumstances, people are more inclined to read a social media post from a friend than from a company. Because groups often require members and administrators to publish from personal accounts, they are ideal for connecting people. This provides you with a one-of-a-kind opportunity to engage as a human first and a brand second.
3. Ask for Referrals
Referrals are a simple, free solution to build awareness of your products or services. When a client is pleased with your business, they’re usually willing to tell others about their satisfaction. Getting new clients through referrals frequently results in a chain reaction of more referrals, helping your business’s growth.
Here are some enticing statistics about referral marketing:
- 92% of consumers trust referrals from people they know.
- Referred customers deliver profit margins as high as 25%
- Referral leads convert 30% better than non-referral leads.
- Referred customers’ lifetime value is 16% higher than non-referred customers.
People are naturally greedy and want to learn more, so it is much easier and less expensive to optimize a sale to a customer who has already purchased something from you than it is to sell to a new prospect who hasn’t heard of your brand. Thus, marketing and selling more to your existing customers is a golden move.
Here are two telling statistics from the Outbound Engine article:
- Acquiring a new customer can cost five timesmore than retaining an existing customer.
- The success rate of selling to a customer you already have is 60–70%, while the success rate of selling to a new customer is 20%.
5. Give Back
Giving back not only creates goodwill but also does amazing things in terms of publicity and gives people the impression that your business is genuine and has a good brand. Also, it naturally creates mutually beneficial relationships; when you help others, they’re inclined to help you.
Here are the two statistics that demonstrate the importance of giving back:
- 82% of consumers prefer companies that support and donate to charities—study conducted by forester
- 91% of consumers expect businesses to address social and environmental issues—study conducted by Cone Communication
We hope that this article helped you. May your business prosper and deliver well, because here in Marvill, we care; we share.
In today’s competitive industry, you are at risk of falling behind if you’re working with a team that doesn’t know how to do it properly. If marketing isn’t your area of expertise, it’s critical for you to consult Marvill Digital Presence to create a plan that will meet your goals. Our team of experts can help you market your business online to attract new customers, increase sales, and boost your brand’s reputation. So don’t waste this opportunity, and contact us today to see how we can help you grow your business.