Marketing Help for Small Businesses
Small to medium sized enterprises (SMEs) contribute a huge portion to the UK economy and make up over 90% of all business in Britain. It's fair to say they are the backbone to Britain.
Many SME's and against the clock and running the business consumes most of their time. As a result some of the points we will go onto discuss can be overlooked from a marketing perspective. Our 5 tips are designed to help SMEs develop and expand;
Tip 1: Listen to your customer
At North Star we have clients who are great at listening to their customers. It may seem difficult, but the rewards of listening to customer feedback can help you build your marketing campaigns, evaluate your current strategy and develop lifelong customers.
It's completely free and will give you excellent insight.
Tip 2: Trial and error
When promoting your services you may have a tight budget, however marketing is a social science and very much trial and error. Expect to get some promotion and indeed marketing planning wrong – as long as you record that X, Y or Z does not work you will not do it again and you're a step closer to perfection.
Tip 3: Report
One of the worst problems faced by SMEs is the inability to record and report on their leads, opportunities and sales. This can result in poor decision making and failure to notice a problem early. You can get cheap and cheerful databases out of a box or Microsoft Access is free.
Tip 4: Decide who you are and stick to it
One of our most popular sayings is "Be something to somebody". It's essential to offer a service of value – that does not mean cheap, tacky or poor quality. Is your product a high value one-off purchase? If so, you may be exclusive and your pricing will match this. You may "stock it high and sell it cheap" but make sure your business does something – then shout about it!
Tip 5: Plan for the future
Whilst it's essential to get through during tough economic times, it's also important to think about where you would like your business to be in 5 – 10 years time. Then, ask yourself "how will I get it there". The plan may change over time but it'll give you a financial start to focus your business.
SMEs face the most challenging situations with the current financial downturn. However, during adversity comes triumph and some of the next generations big brands will have started during the recession. For SMEs to grow they need to market their product – and if they need marketing help, support or assistance they need to budget to make this happen.