Your marketing strategies determine the success and growth of your small enterprise. You may have the most amazing product or service, but unless your target customers see or hear about it, you’ll go broke. No wonder CB INSIGHTS ranks poor marketing strategies among the top ten reasons why most startups fail.
Small businesses can now take their strategies to the next level with online marketing without breaking the bank. Upfront costs apply for obtaining the tools of the game, like building a mobile-friendly business website. Don’t panic! You can easily fund your digital marketing strategies with a working capital loan for small businesses.
5 Strategies to Up Your Marketing Game
Build a responsive business website
According to SBA, 36% of small businesses don’t have a website. If your business belongs to that camp, you are losing big. A study by Blue Corona shows that 80% of customers discover businesses online before visiting their location.
You need a professional business website to take your marketing strategies to the next level. Freelancers charge between $100 to $500 for a good-looking business site, but costs can go up to $30,000 if you need a complex design with advanced features. With a working capital loan, you can take your business online with a mobile-friendly site.
Blog about your products
SEO is key. You need to intercept customers on search engines when they ask questions related to your products or services. According to DemandMetric, brands with blogs realize 67% more leads monthly.
Have a blog section on your website where you post keyword-focused articles and guides answering your customer’s queries. Then, offer your products or services as the solution to their pain points. You can write your essays or fund your blog with a working capital loan.
Get serious with video marketing
64% of customers purchase a product after watching a branded social video. Make videos of customers using or trying your products or video guides on how to use a product. Then, post them on your website and social media pages with buying links and irresistible CTAs.
Use social media marketing
Meeting your customers where they spend most of their time is a top marketing strategy. According to Statista, Americans spend about 2 hours and three minutes on social media. Similarly, OBERLO reports that 54% of social media users use social media to research new products.
Including social media in your digital strategy is a great way to engage customers, increase brand awareness, and drive sales by directing them to your store or website. Facebook is a great place to start.
Follow up with customers who visit your products pages or add items into the cart and leave without buying. Spiralytics.com estimates that customers retargeted with display ads are 70% more likely to convert. Running retargeted ads isn’t hard. Just set your budget and let google or Facebook do the work for you.
Drive conversion with email marketing
Take your marketing strategies to the next level with email marketing and realize high conversion. According to OBERLO, you can expect an average ROI of $42 for every $1 you spend running email campaigns. Divide your email list into different lists depending on where each subscriber is on the purchase journey. Then, hit your customers’ mailboxes with personalized deals on new products, discounted sales, and informational content.
Display customer reviews
People need someone else to tell them that your products or services are what you say they are. It’s called social proof. According to Reevoo, reviews result in an 18% increase in sales. An Opinion Research Corporation study shows that 61% of customers read customer reviews and testimonials before making a purchase decision.
Obtain a small business working capital loan
Lastly, you’ll need funding to take your marketing strategies to the next level. It takes money to build a website, create marketing content, branded videos, and hire reliable writers to create value-adding articles and content for your website. A working capital loan from a reliable online lender can help you meet these costs.