How to Successfully Market a Small Business
Posted by skshaheen on May 6th, 2020
India is the third-largest startup hub in the world, says a report by NASSCOM-Zinnov. The report also stated that between 2017 and 2018, overall business investments in India grew by an astounding 100% from billion to .2 billion. This impressive growth has been a result of internet penetration, favourable government reforms, and the huge market size of our country.
Despite the ecosystem improving so much, starting and running a successful business is no easy task. In fact, around one-third of all businesses close within the first two years of operation. Many businesses face the problem of low net working capital and pull back their marketing initiatives. This isn’t a wise decision, as it prevents your business from reaching prospective customers and continue to grow. So, here are a few tips on how to market your small business.
Focus on Your Website
For many, this is the face of your business. Make a simple and clean website that provides information about your company and your core team. You can even put up some of the success stories of your clients. This helps in building credibility for your company.
Also, ensure that your website is mobile friendly. It is estimated that by 2025 almost 75% of the global population will use their smartphones for accessing the internet. Also, do not forget to follow the basics of search engine optimization.
Decide a Marketing Budget
Small businesses are generally a bit tight on funds. With overhead expenses and vendor payments often consuming most of the budget, marketing becomes an afterthought. This could harm your business in the long run. In case you are a bit cash strapped, you can even take a working capital loan to finance the everyday operations of your company.
Get Social Media on Your Side
Did you know that India has more than 376 million social media users in 2020? And it is predicted to grow to 447.9 million by 2023, according to data presented by Statista. This makes it a potent tool for marketing your business.
Always consider targeted marketing. Facebook has many options for this, including allowing you to target your audience on the basis of age, relationship status, employment, interests, gender, and purchasing behaviour. In case your business relies on visual appeal, go for either Instagram or Pinterest. And, if your business follows a B2B model, LinkedIn can be an excellent option for you.
Get Your My Google Business Page
What many businesses often forget is that Google offers a tool that can help in driving customers to their website. Using the Google business page, you can interact with your customers and control the local information regarding the business.
It gives businesses the ability to enter information such as their URL, location, contact details, and photos. When looking for a business or service, most people do not go past the Google business page results.
You can also try using online ads for marketing your business. And, if you are facing a cash crunch, consider taking a working capital loan.
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