As you know, small businesses are critical in keeping the economy strong. The United States Small Business Association defines a small business as having up to 500 employees or an average of $7.5 million in annual receipts–this is probably a lot larger than the small businesses in your local community. Small businesses account for 99.7% of all businesses in the United States–hence their direct impact on the economy. Not only do small businesses impact the larger scale American economy, they also have a significant impact on the local economies. When a customer spends $100 at a local business, $68 stays in the local community. When that same $100 is spent at a large business, $43 stays in the local economy.
Here is a list of our Target Tips for how to maximize your small business marketing budget just in time for Small Business Saturday!
1. Have A Website
A website is a necessity for businesses in the digital era. While it can take some time to build traffic to your website, you will see a great deal of payoff through your customers. Your web page can act as the centerpiece for your company’s online presence. You can advertise across the world wide web always having the web page to link back to on social media as well as pay-per-click ads.
A website not only provides a potential customer with the information they need to make informed decisions or to find your location; it also provides a sense of credibility. A huge advantage to the internet is that the size of your company does not matter online. There is no reason that your company can’t outrank a multinational competitor on the internet.
Websites hold information that is accessible 24 hours a day, every day, all year. This makes finding information about your company incredibly convenient for your potential customers. The more professional your website is the more advantages you gain over your competitors.
2. Establish & Maintain Your Social Media
Social media has quickly become one of the most critical aspects of digital marketing. Social media provides businesses with access to millions of customers worldwide. It is one of the easiest ways to spread the word about your company in a cost-effective way. It is a great opportunity to increase brand visibility and heighten the user experience.
Being cost-effective is important to make sure you are gaining return on your investment. There are fantastic almost instant reports available to you through social media to check click-through rates and interaction on your social posts.
Social media is also a great way to engage with your customers. The more you interact with your customers, the greater chance you have at conveying your brand message. When you are able to connect with your customers you are able to build on your credibility and create brand loyalty.
3. Email Marketing
Use email marketing campaigns to stay in touch with your customers; both current and prospective. Your emails can build a relationship with customers. We build branded email campaigns to help you achieve specific goals you’ve set for your company. Email marketing encourages your customers to take action using custom promotions.
Email marketing is a great opportunity to encourage recurring business through promotions and triggers. Triggers are emails that your customers receive for events such as birthdays, anniversaries, or when they perform a specific action. This allows you to re-market your products based on customer activity and make connections during milestones.
5. Promote Your Business With Direct Mail Marketing
Everybody has a mailbox. There’s a reason direct mail accounts for more than 40% of advertising. Direct mail gets noticed. Receiving a postcard from a business down the block feels ultimately more personal. Our New Resident mailers are redeemed 704% more often than the industry average. Direct mail marketing is easily measurable especially when tracking your return on investment–it’s as simple as keeping track of how many mailers you have sent and the number of responses you receive.
It is hard to ignore a piece of mail with your name on it, which is why direct mail marketing remains relevant in this increasingly digital age. You’re making a tangible connection with your consumers when you send them a personalized piece of mail. You are able to target your ideal prospects using custom demographics to ensure that your message is reaching the right people at the right time to maximize your return on investment.
6. Drive Traffic & Sales With Location-Based Advertising
When it comes to growing market shares, one business’ gain is another’s loss. Geofencing technology provides a unique opportunity to dominate your competitors and grow your business. Our data shows that customers are 271% more likely to visit a store after seeing an advertisement. This program delivers highly-targeted digital ads to potential customers based on where they go–your competitor’s locations, your own location, shopping areas, colleges, parks, even events they attend!
Geofencing elevates your brand by providing a full-service approach to make connections with potential customers. We are able to provide you with exactly how many people walked into your business as a direct result of seeing your ad…talk about tracking your return on investment! Location-based technology opens up a world of possibilities for getting new customers with geofencing. As of recent, this technology has become available to local businesses with a much smaller budget by working directly with Moving Targets.
7. Engage In Your Community
When consumers are deciding where to spend their money, they often consider the social responsibility of a company. By showing an active interest in their communities, small business owners can receive benefits such as strengthening their brand reputation, networking and building relationships with other local businesses, differentiating their company from competitors, and attracting/retaining customers.
There are a lot of great opportunities to engage in your local community without breaking the bank. You can start by hiring locally. You can also schedule special events like extending your business hours to host an event relevant to your business. A strong community leads to a strong base of clients and customers to draw upon.