5 ways SME can improve their marketing
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It’s one of the greatest challenges of becoming your own boss - just how do you attract more customers to your business? Naturally, the answer will be to develop an effective marketing strategy, but what exactly does that entail? As new techniques and technology become more widely available, the way which in UK businesses reach out to potential customers is growing increasingly more complex. In turn, customers now expect a lot more if you’re to get their attention. So as a small business owner, you now have to work even harder to draw them away from your competitors. Fortunately, you don’t have to spend a fortune on marketing, here are 5 low-cost ways of promoting your small business to a larger audience.
1. Develop a short but effective elevator pitch
Promoting your small business is going to require constant effort. In fact, your desire to get noticed may lead to you having to advertise your business in unexpected places, sometimes at short notice. So seize the initiative and prepare a compelling elevator pitch. Elevator pitching lends itself to the idea of having only a brief opportunity to convince someone of your offering before they depart, which is especially apt since customer attention spans are growing shorter. As such, you need to create an engaging pitch that describes your business’ offering and what problem it solves/how it helps customers in no more than just a couple of sentences. Besides, as well as opening up opportunities to expand your customer base, it may even prove useful for attracting external investment.
Searching for a way to lure new customers to your business? Do you lack the necessary funds to support an effective marketing campaign? Apply for Merchant Cash Advance or learn more about how your business could benefit.
2. Engage with your local community
Develop a visible presence in your community by attending or even sponsoring a local event. Whether its a sponsored marathon or another local event, getting involved and putting your business’ name out there is great for public relations. And once you’ve got people’s attention you can then begin introducing your message. If successful, doing so might encourage attendees to seek out your goods and/or services in the near future.
If you can spare the time, another low-cost way of promoting your small business is through networking. By attending networking working events dedicated to your sector, you’re in a great position to grow your connections, reach potential customers and develop new ideas for the future. Besides, networking presents an invaluable opportunity to learn more about your target audience and how to sell to them effectively.
4. Content Marketing
In addition, you’ll want to consider creating marketing content that can be easily distributed online, such as articles, videos, audio, illustrations, infographics, eBook and case studies. Such content should also make use of keywords and other SEO tools to help with your ranking position on search engines and, by regularly uploading content to your blog site, you’re constantly adding value to your target audience, providing useful information that shows you’re invested in the needs of your customers. That’s why, when creating content, you should do so with a clearly defined goal in mind, whether this is to promote a service, sell a product, register a subscription or reach out and get in contact with you.
5. Referral incentives
Finally, if your cash flow isn’t up to offering coupons or upfront discounts, another way of attracting new customers is by starting a referral program to encourage word-of-mouth recommendations. Such a scheme could work by offering the customer who made the referral 10% off their next shop. In addition, if you’re also able to collect their email address (with the correct permissions), you can send them reminders of the scheme which may even prove useful in smoothing uneven cash flow during slow trading periods.
Need help supporting a marketing campaign for your small business?
Driving your business forward can be hard, even at the best of times and, without a constant flow of customers paying for your goods and/or services, achieving your plans for the future will be an uphill struggle. As such, you’ll need to manage a sustained and effective marketing campaign in your local area to attract new customers. However, if you’re having to work on a shoestring budget, this isn’t going to be easy. Though there are plenty of low-cost techniques that you could employ, ensuring that your campaign is effective in promoting your business may require additional expertise. If you need access to more capital, one way of supporting your marketing campaign is by applying for a Merchant Cash Advance. All you need to do is source an agreement from a lender you can trust, which is where we can help.
At Rangewell, we’re an Access to Finance specialist working with over 300 lenders to offer you a comprehensive overview of more than 23,000 business finance products. Our services are free to use for business owners and their advisors and we’ll also guide you through the application process. So if you’re looking to acquire the attention of new customers but need help supporting a sustained marketing campaign, apply for Merchant Cash Advance today or find out more with Rangewell.