Importance of a Marketing Strategies for Small Business [Infographic]

frefetwrThe world has certainly changed in the digital era, and new small business concepts do not look much like they did a few years ago. The internet, social media and smartphones have changed everything about the way people interact with one another and do business, and it small business marketing is drastically different in the modern age.

This has caused many new small business owners– especially those with little to no experience in technology– to struggle with the complexities of marketing their services and products. Even more experienced entrepreneurs who have worked within their respective industries for many years have had to adapt to the changing marketplace and the needs of modern consumers.

Modern Small Business

You have certainly worked hard to build your business into what it is, and you are likely familiar with every speck of dust on the floor. You know your business inside and out and are an expert in your field, but you may not necessarily be an expert in the marketing techniques that are necessary to promote your business to the world.

“No matter the industry, small business owners live their lives with a full plate, especially in the first two years of business,” says a marketing expert at SimpleLifeInsure. “They gain invaluable knowledge and experience in their field, but this does not always include the marketing and advertising know-how that is crucial for nearly every business in today’s world.”

Whether you are a baker, a brewer, an insurance agent or an independent programmer, you need to be able to reach the audience that craves your products or services. The digital age has provided nearly unlimited possibilities for small businesses and marketers, and it is important to understand a few of the basic concepts to help your business thrive.

Even if you already have a strategy in place or you pay marketers to promote your company, understanding some of the basic ideas of marketing could help ensure that you are not missing out and allow you to locate the opportunities you may currently be missing. No matter what kind of goods or services you provide, a good marketing plan will help you reach more people and develop better relationships with your customers.

Creating a Marketing Strategy

The main function of a marketing strategy is to provide a guide which all of your marketing efforts can follow. It should set the goals of your marketing plan and define a direction as to how those goals can be reached. This will essentially be a blueprint for all of your marketing efforts going forward and should include:

  • Company snapshot – This will be an overview of who you are, what you provide and how your company is unique. It should also include the major strengths and weaknesses of your business, as it relates to the competition. In marketing terms, this is known as a situation analysis.
  • Target audience – The initial key to any successful marketing plan is to understand who you hope to reach. You will need a solid grasp of who your customers are and what kind of future customers you hope to attract. Demographics are often separated by gender, age, location and other defining characteristics.
  • Marketing goals and budget – Every solid plans need clearly defined goals to achieve success. Be as specific as possible with your goals, and base them realistically upon your marketing budget. Both will be tweaked as time move forward.
  • Marketing techniques – Once you have your situation analysis, target audience, goals and budget defined, it is time to begin to lay out the specific strategies to get you where you need to be. This may include social media, SEO, TV ads, content marketing, direct mail, email and all the other strategies that will need to be employed, as well as the cost and specific goals of each.

Creating a Marketing Plan

In the infographic below you can see the very basic six steps to make a marketing plan.

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