Did you know that 89% of businesses in America have fewer than 20 employees? That means that a lot of people are wearing a variety of hats to ensure that doors are opened, shelves are stocked, positions are filled, bills are paid, and the list goes on. So, who’s coordinating and managing the marketing?  (Cue the chirping crickets). Anyone?

Unfortunately, the answer is often no one or someone with little experience and an even smaller marketing budget. As a result, failure to market effectively is one of the top four reasons 20% of small businesses fail in their first year and 45% fail within five years.

But we’re not lecturing. We get it.

As small business owners ourselves, we know that it’s easy to get caught up in the day-to-day operations of keeping customers happy, employees fulfilled, vendors paid, and the lights on. It’s easy to put off your marketing tasks until tomorrow when you have more time to think or more money to spend.  But tomorrow, you have to cover for a sick employee, the next day, your internet is down, and the day after that, there’s a plague of locusts….it’s always something.

Cost-Effective Marketing Opportunities

Even if you have the time, you may not have the budget. The good news is that there are several ways to market your business with little to no money.

    • Social Media It costs your small business exactly the same as it costs Coca-Cola to have a social media page – absolutely nothing. However, just because it’s free, don’t treat it as though it has no value.  It takes thought and time to post regularly and create content that engages with your target audience. Warning: a neglected social media page can send a strong message that you have nothing to say and little interest in engaging with your customers.
    • Customer Experience Surveys Everyone likes to be heard and know their opinions matter. By asking your customers for their feedback you can gain valuable insight into the customer experience you provide. You may have the opportunity to identify and correct a problem early or enhance a benefit to your advantage.
    • Customer Testimonials You can state your business is great over and over and no one listens.  It’s verbal wallpaper. However, when peers speak, people listen. According to Nielsen, 92% of people trust recommendations from friends and family over any other type of advertising.
    • Email Marketing Sending out a monthly or quarterly newsletter is a great way to communicate with your customers and stay top of mind with your prospects. Just make sure that your content has value to them. In other words, don’t make it all about you. This also requires that you maintain a database of customers, prospects, vendors, employees, referral sources, and more.
    • Online Presence Search Engine Optimization can be intimidating, time consuming, and expensive.  However, you can still have a search-friendly presence online by creating a free online profile on sites where people are likely to search for your product or service such as Yelp, Google (Google Business Profile), Bing (Bing Places for Business), Better Business Bureau and others.
    • Brand Advocates Post links to sites mentioned above on your website and social media and make it easy for people to leave reviews. Make sure they know their review is valued by responding online and sharing their reviews on social media, your website or e-newsletter. Repost their Instagram images and share their Facebook photos of your product.

Worth the Investment

Not everything is free.  But, for a small investment, you can achieve a good return on your investment with the following initiatives.

  • Website updates Your website is often a prospect’s first interaction with your business. Make sure its content is accurate and up to date. FYI – the average lifespan of a website is 2 years and 7 months.
  • Digital ad campaigns Digital advertising provides businesses with a cost-effective way to target select audiences. And, since you can monitor results in real time, you can easily tweak campaigns to amplify what’s working and fix what isn’t.
  • Employee promotions “I could really go for a sandwich made of stale bread,” said no one ever. Keep things fresh for your team by employing a sales contest to get everyone out of their rut and get them in the habit of selling.
  • Search Engine Optimization (SEO) Google estimates that it processes 8.5 billion – with a B – searches per day. That’s 99,000 queries per second. It may require a long-term commitment to rank for certain search terms. But note, if you’re not ranking for your search terms, your competition is.

The Risks of DIY Marketing

Are you feeling overwhelmed? You’re not alone. You may not be a professional marketer. You may feel no more comfortable attempting these initiatives as we would be piloting a plane or arguing a case in court. Marketing may seem to be a less risky do-it-yourself endeavor. However, over time, ineffective marketing can easily result in lost sales, decreased brand loyalty and a weakened brand image.

Great News!

The creation and successful execution of a comprehensive branding and marketing strategy takes experience and focus. However, it’s doubtful that your business requires an in-house marketing department or even a full-time marketing director. By outsourcing your marketing to a full-service branding/marketing agency, your business can save money, benefit from their professional expertise, experience brand consistency, and enjoy the convenience of dealing with a one-stop shop as opposed to multiple vendors.

Since 2004, Electrum Branding has effectively functioned as the outsourced marketing department for clients in a variety of industries. At Electrum Branding, we take pride in the fact that our clients consider us partners in their success and not just another vendor. Whether they are in town, out of state, or across the country, our clients think of us as being right down the hall due to our accessibility and responsiveness.

Is your small business ready to think BIG? Contact the professionals at Electrum Branding to get started today.