Marketing A Small Business - Top Tips

Sydney, Australia.

How and where to start marketing a small business? The success of a small business depends largely on how well it is marketed and how quickly it gets into the market place.

This is not a very easy task with budgetary constraints and having to be cautious about using free or cheap marketing tools, but ones that are the most effective. Nonetheless small businesses do succeed.

Some of the differences between small and business marketing procedures, practices and tools are listed below:

  • Small and big businesses vary in budgetary allocations for marketing- Small businesses have very little money to spare for marketing. Big businesses on the other hand, have a large marketing budget and can use the most expensive tools and thus show results.
  • Small and big businesses differ in scope and their brand building activities. While big businesses build brands and market them extravagantly, small businesses struggle in selling the concept and brand building, if any, is low key. The large sales field open to big businesses is miniscule comparatively for small businesses.
  • Both face a different set of risk factors and this has a bearing on the opportunity areas open to each. Small businesses are generally in no position to take risks and this places limits on the opportunities open to them.
  • Strategies of marketing a small business differ as well. While big businesses can launch new variants of products, expand their distribution network and so on, small businesses lack the resources or expertise to do so.
  • Competition puts the fear of survival in a small business while big ones can face it head on, at any cost. Small businesses function by keeping a close watch on competitors and their activities.
  • Small businesses have less time and need to be more focused and targeted, highly cost effective and pursue carefully planned marketing initiatives. Big businesses have room for deviations from this path, without it affecting the success of marketing endeavours.

Options Open To Small Businesses

However, these differences cannot act as deterrents for small businesses. Some solutions open to them include:

  • The small businesses - should put aside at least 10% of a total gross sales just for marketing.
  • Continue marketing unfazed - irrespective of the barriers and limitations faced the small business must continue its marketing initiatives in an unfazed manner.
  • Use market sharing activities with other vendors and associates to cut costs by splitting expenses.
  • Gain free publicity through media networking - this helps to remain visible.
  • Become an expert by joining forums, offering advice and writing articles, so that your small business has a better image.
  • Keep tabs on results of marketing initiatives and drop those that do not yield positive outcomes. Keep alternative marketing tools ready and waste no time in replacing new ones for useless ones.
  • Be fast, get into your market place - always on the look out for new products and services.
  • Look at big businesses in products and services to see how you can improve in quality, prices, services in a better way.

The world is a huge marketplace and there is room for survival for both big and small businesses. Each needs to use its own skill sets to achieve success through marketing initiatives.

Need advice on marketing a small business? Contact me today!

Learn more about small business marketing here.

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