A vast majority of success within business stands and falls with the business’ marketing; this is the same with marketing for small businesses. What we mean with that is, that you can have a brilliant idea, but nobody will buy from you if nobody knows about you.
With nearly 113,000 new businesses registered in 2020 alone in the UK, according to the Department for Business, Energy & Industrial Strategy, published in a briefing paper of the House of Commons Library, and in a world where shielding and social distancing has become part of our day-to-day life, traditional marketing, like word of mouth marketing (for example a friend telling you about a new product they’ve bought that they love) or presentational marketing (for example a stand in a shopping centre) isn’t currently as successful as it has proven to have been in a pre-lockdown life.
With 50% of small businesses failing after five years (Source: Business Questions), David from Business Questions interviewed one of our MegaMarketer’s Kris Britton to understand how small businesses can drive effective marketing without spending thousands of Pounds.
What’s the difference between marketing for small businesses and marketing in enterprise companies?
Independent of the company size, the marketing techniques are broadly the same. The big difference is usually the budget that decision makers are happy to spend, and thus the reach.
While big companies are happy to test new marketing ways by sinking £10,000 into a single campaign, smaller businesses may struggle to invest £10,000 across all their marketing activities. You could argue that a small company doesn’t have to make as much money as an enterprise has to make, but when you take a closet look, this argument also lacks consistency.
Both businesses, be that a small business with just the one person employed, or the larger enterprise with 50k people employed, both want to see an ROI (Return on Investment) from their activities, which is usually around 3-8 times that of what has been put in. That means the main difference comes down to consistent efficiency of marketing activities.
What can I do to support my small business?
Despite what the Instagram ads and countless Facebook life coaches will tell you, there unfortunately is no “do this one ting, and you will be successful” answer. But luckily there are a variety of different options that you can discover to not only bring your brand and business to life, but also place your service and product front and centre.
From cost-effective ways of engaging on different social media platforms right the way through to personalised account based marketing approaches, the sky is the limit. Especially in smaller businesses, we regularly see business owners fear being the face of their own brand, and shy away from promoting themselves.
It’s simple to say, but don’t be shy. You know better than anyone why someone should buy from you or come to you for advice, so it’s time to start thinking about ways you can present your business wherever your audience is.
The 101 on marketing for small businesses, with our MegaMarketer Kris Britton
In a nutshell, what is covered in the full interview?
Kris stars going into the details of websites, social media and different tactics to reach the right audience across different channels. It’s so commonly overlooked in small businesses, however search engines, like Google and Bing are part of social media, too. He gives an overview of different techniques and tips on what you can do to get in front of your ideal customer.
After watching this interview, you are able to establish your marketing needs and will understand areas of improvement for your own marketing, which you can then convert into an action plan.
How we at KAYBE can help
While we work with businesses of all sizes, from one person businesses to large enterprise organisations, we see daily which marketing activities work best for which industry and detect trends very quickly. Smaller businesses working with us benefit from what we have seen enterprises tested and succeed from, without the need to spend the thousands in order to get feedback and results.
We are often seen by many of the people we work with as an extension to your team, bringing together a mound of knowledge for all aspects of marketing for small businesses.