Since small businesses lack the capital for marketing and advertising that big businesses typically possess, it is even more important to take full advantage of their marketing opportunities. One way for your small business to gain a competitive edge is to latch onto the latest effective marketing trends to attract new customers and build customer relationships. Use these hot marketing techniques to expand the customer base and revenues for your small business in the new year.
Going More Mobile
More consumers are shopping with their smartphones. This makes it increasingly important for your small business to be mobile-friendly. Check your website to make sure it is designed to show up well on mobile devices. This makes it easier for mobile shoppers to view and navigate your website. It also improves your overall search engine rankings, since Google and other major search engines factor in how mobile-friendly your site is.
Consumers are becoming increasingly comfortable with mobile payment systems. Make it as easy as possible for consumers to purchase your products. Look into adding a mobile payment system to your site, such as Intuit’s GoPayment.
Using Email Marketing
Email marketing might not initially strike you as a hot trend – more like an old idea – but email marketing is still considered a very valuable marketing tool for generating sales, strengthening customer relationships, and building your brand identity. Sixty-eight percent of businesses rate email marketing as a good to excellent marketing method when analyzed for the return on investment hat it produces. Successful email marketing isn’t about making continual direct sales pitches – instead, regularly offer consumers on your mailing list valuable, helpful information. Every time you do that, you’re strengthening your connection with customers and potential customers.
Follow the lead of big businesses by using the data that you have collected about your customers’ purchases and preferences to amp up your sales. Businesses are finding individually tailored marketing offers based on such data to be increasingly effective. Collecting and analyzing data can let you personalize the offers you send to existing customers, improve your customer service, and possibly identify additional areas of opportunity. Personalized offers also enhance customer relationships because they make customers feel like you’re paying individual attention to them.
Word-of-Mouth Referral Marketing
Word of mouth or referral marketing has always been an effective and cost-efficient method of marketing. Research shows that it generates up to twice as many sales as traditional paid advertising. One way small businesses can generate a large amount of word-of-mouth advertising is by using social media to get existing social connections to spread the word about sales, new products, or events to their social connections. You can gain a bigger boost by connecting with recognized influencers in your industry and getting them to review and endorse your products or business online.