How to create a marketing strategy for a small business
Marketing your business can seem like a daunting task. There are so many things to consider and it’s easy to get overwhelmed by all of the different strategies available. In this article, we’ll give you some tips on how to create a marketing strategy and a simple strategy you can implement over the next 30 days.
Start by figuring out your audience – who is your target market?
You need to figure out who your target audience is. This is the group of customers you are trying to reach, and it’s important to understand their demographics, interests, and pain points. You’ll also want to find out where they spend time online, what other products or services they buy from other companies, how much money they make per year, and if there are any special groups (like millennials) that might be more inclined to use your product or service.
There are 3 Pillars to a Marketing Plan:
1. Visibility
Visibility is the first step in creating a strong marketing strategy. The more people that know about you, the more people will do business with you.
It’s important to measure visibility because not all visibility is good. If you are in New York but you are marketing to people in California, it may not be your target market (we discussed above).
How can you market locally? Here are some ideas:
Running ads
Running ads is a great way to generate leads for your business. Some of the popular local business ad platforms for service businesses are:
- Google Search Ads
- Google Local Service Ads
- Yelp
- Thumbtack
- Angi
- Next Door
The most important thing to consider when deciding what type of ad to run is what kind of customer you want to attract. Do you want people who are ready to buy immediately? Or are you looking for long-term customers who will help expand your brand over time?
Google search ads are typically more top-of-the-funnel leads that take longer to close, as opposed to a thumbtack or Google local service Ad that is bottom of the funnel and fills out a form or contacts your business (pay per lead model)
Organic traffic
Optimize your website for search engines by using local keywords to show Google your target location. You can also set up a Google Business Profile (GBP) this helps with local searches and will help you be found on Google’s search engine results page.
Don’t forget to get reviews on Google. This is important because it shows up prominently in search results, so if people are searching for services like yours, they may see this first. It’s also free!
Business-to-Business Marketing
When it comes to marketing your business, one of the most effective ways to reach your target audience is through B2B marketing by building referral partners. B2B stands for business-to-business, and it’s an essential part of any small or medium-sized business’s marketing strategy. If you want a competitive edge over other businesses in your industry, B2B can help you get there.
Why is this?
It’s more cost-effective than B2C. When you’re targeting other businesses rather than individual consumers, B2C attracts 1 new customer each time, and B2B builds a referral source that could bring in 100s of customers from one connection.
2. Lead Conversion
Visibility is good, but you need to be able to turn visibility into leads and sales. You can do this by adding website chat, setting up online scheduling, and making sure your customer service reps are booking jobs from these leads.
A recent study found that the average booking rate for local service businesses is 42%, the good companies are booking at 59%, and the companies that are small and have no plan are booking at 25%.
This is important because if you pay for leads, or attract them organically, it’s no good if you don’t close them into a sale.
Here are some ways to convert leads better:
Contact form
Contact forms are an easy way for your customers and prospects to reach you. The key to a contact form is simplicity, so it should be easy for users to fill out on any device. Keep in mind that many people are using their phones or tablets as their primary browsing devices, so when designing a contact form, make sure it looks good on these mobile devices as well.
Another important tip is: always provide clear and consistent call-to-action buttons (“Request Estimate” or “Request Service”). It also helps if you include what they will receive after submitting the form—this helps improve conversion rates significantly.
Service Request / Estimate Calculator form
A service request form or estimate calculator allows you to convert leads into customers by providing a convenient way for your prospects to request a quote. This is especially effective if you’re selling services that require customizations, like carpet cleaning or roof replacement.
It’s important to make sure that the form is easy for your customers to use so they don’t have any trouble filling out their details and submitting them back to you. The goal with this tool is not only to get contact information from interested clients but also valuable feedback on what they’re looking for in terms of service offerings, so make sure there are multiple fields where they can fill in relevant details such as what type of project they.
Website chat
Webchat to text message is the new wave of marketing. It can help your business interact with customers on a more personal level while offering them valuable information, making it easier than ever to find and reach customers and grow your brand.
3. Retargeting
Retargeting is a marketing strategy that takes your current customer database and “retargets” them to bring them back into the sales funnel.
Retargeting is a gold mine because these prospects and customers already know, like, and trust you. They just need to know you are there, so staying top of mind is crucial. You can also use retargeting to cross-sell other services that you offer but are less known.
Here are some strategies to retarget:
Email Marketing
Email marketing is one of the most effective ways to reach your audience. It’s inexpensive, it allows you to communicate with customers regularly and it keeps you in touch with your target market.
Email marketing can be used for many different purposes:
- To drive traffic to your website
- To generate leads or prospects
- To promote sales or promos
- To share updates about the business
Text Marketing
Unlike email marketing which typically gets 20-30% open rates, text marketing gets a 98% open rate because it goes right to your customer’s phone. Texting your database is a home run to get things rolling for your business.
The first step to creating a text marketing campaign is to determine who you want to send it to and why. You don’t want to do this weekly obviously, we recommend a quarterly text at most so its not annoying.
Create the message. Once you’ve determined your target audience, craft a message that speaks directly to them by using language they use and will understand. Make sure to include information about what’s in it for them if they respond (e.g., 10% off all orders placed today).
Keep track of responses and engagement rates. Monitor how many people respond positively, negatively.
Ask for referrals
Referrals are a great way to grow your business. Referral marketing is one of the most effective ways to reach new customers, and referrals can be an especially valuable source of leads for small businesses struggling to get in front of a large customer base.
If you’re looking for ways to generate referrals, ask your current customers for their opinions about your business and what improvements they would like to see. Your existing clients are more likely than others (you know who they are) to refer you because they’re already happy with what you offer and have already seen how well it works in their lives or businesses.
Budget – how much can be allocated to marketing efforts?
If you are planning a marketing plan, it’s important to set aside a budget. Not only will a budget help you plan for cash flow, but it will also help you with a return on investment calculation. We recommend shooting for a 3x – 10x return on marketing spend.
Most small businesses are spending 3-10% of revenue on marketing efforts, so if your revenue is $100,000 a month, you should be spending 3-10k a month on marketing.
Free Marketing Strategy Session
So, with all of that in mind, what is a small business to do? The most important thing is to start somewhere! If you need help, set up a 30-minute strategy session with one of our consultants, we can help brainstorm ideas to help you market and grow your business.