8 Competition-Crushing Marketing Strategies for SMBs
It can be intimidating to approach a new avenue of marketing for your company, but if you can really figure out what your customers need, and how you can best reach them, you’ll be able to achieve impressive results and surpass the competition.
It’s time to get creative and personal with your marketing in order to give people an experience they enjoy, and simply have to share with their friends. Try one or all of the below marketing strategies to make a real impact.
Smaller businesses should, ideally, have the upper hand when it comes to the customer experience. They know their customers, know their preferences, and build relationships with them. But, without a marketing plan in place to ensure new customers and loyalty from current ones, it can be hard to scale. It starts with a company-wide initiative to put the customer first, and to train employees to look at each account, each face, as a relationship. Give your customers what they want, and they’ll keep coming back for more.
Approach New Markets
One way to stay ahead of the competition is to pursue markets they aren’t pursuing. Every business has particular groups of customers that they serve extremely well. Know what groups these are for yourself and your competitors, and once you’ve perfected your approach in one area, seek a new cohort to help. These groups don’t need to be huge to make a big impact on your business; you just have to offer the best solution that meets their needs.
Acquire Business Partners
There are companies you can work with who offer related or complementary services. If you are in finance, reach out to hospitals; they’re the closest to growing families–commission an advertisement campaign about your family investment opportunities. Realtors regularly work with banks and home inspectors. Technology companies can co-market with their channel partners. Work with others in your industry and build a new stream of leads. Partner marketing is a powerful but often under-utilized marketing strategy that can provide a strong ROI, while sharing in the uplift.
Modernize Your Brand
Have you been in business for a while, or does your brand need some refreshing to breathe new life into your products or services? Choose a new message, look, and feel that puts the needs of your customers at the forefront of your campaign and redesign. By showing your focus on a modern approach, you’ll give customers another reason to learn more about your company and to develop an affinity.
Enrich Your Online Presence
In today’s digital world, most customers are on search engines, reading reviews, and exploring before making a purchase. It’s old news to say that every successful business needs an online presence; what’s of the upmost importance is to utilize digital marketing practices, like SEO, PPC, and email marketing, to be the prominent option. It’s one thing to be where your competitors are online, but it’s a whole new ballgame when you’re able to “outrank” them on Google.
Find out which social media platforms (i.e., LinkedIn, Instagram) are popular in your line of business–join and get posting! Your company’s social media profiles are great places to share photos of your employees and events, show off media opportunities, promote thought leadership and offers, and to build and engage with your network. Social media is also a powerful platform for loyalty and referral programs.
Work with nonprofits that need support, either in your local community or virtually. This could be through schools and universities, animal rescues and shelters, sports teams, or support groups. Many nonprofits run fundraisers where they give you the opportunity to pay for marketing exposure by supporting their cause. Giving back also shows the people behind your business and what they stand for. It’s a wonderful way for customers to connect with your business on a deeper level.
There are several ways you can help your customers. For instance, send an email when your business partners are offering special incentives or offers. Do you offer a product or service that requires education or is connected to a larger effort? Conduct a webinar or create a video that explains the benefits of your solutions and how they associate with your customer base. People want to hear about the news that matters to them, and you can be at the forefront of this by keeping their well-being at the top of your list of priorities.
There are infinite ways to get your company to stand out amongst the competition. Today, the most successful marketing campaigns are based on being different, creative, and giving customers exactly what they want.
What are your most impactful marketing strategies?