5 Effective Growth Strategies For SMBs Marketing

It's good news for SMBs marketing industry and comes up with effective marketing strategies to grab the market. While your consumers are increasing, SMB marketing experts still feel that it is very difficult to conquer this market and get more clients. So we have thought to share 5 successful strategies for SMBs which will make your small company stand in the market.

1. Focus on The Customer

This point is obvious as it sounds. The God of any business is the Customer. But here I want to say that in the case of all small businesses, your company needs to address some specific questions of a customer. The customer who is looking for your products is most often than not concerned about cost and availability factors. So you need to target these two factors specifically.  Some product and service prices have dropped considerably over years and the long-term financial benefits are very clear, but still, people have the major concern about the cost while thinking about your offerings. So These 4 strategies will help to set the tone with your customer.

1. Spelling out the cost savings of going live: You need to focus on this factor as much as possible. This can be achieved by educating the customer. And to educate your customer you need to shift from traditional methods of marketing like local TV, newspaper, and radio commercials to web-based advertising like Facebook, email marketing because it is cheaper and more efficient.
2. Leveraging the power of the neighborhood community where your services or business occur: People follow other people. So talking more about the customer and how they got benefited by your business will encourage people to go thumbs up for it. Try to speak more about the neighborhood community.

2. Know Your Industry

All the above customer focusing points will help to educate and drive customers. But your marketing team must have enough knowledge to answer customer queries. You must be aware of all the trends, technical developments, and government policies related to your business. Like the government is giving huge subsidy in some installation/other products so you must be aware of different policy and discovery in your business. This will not only help in solving customer queries but also to better serve your market and take a lead in the market with new products and schemes.

3. Differentiation Is The Key

In today’s market, you need to come up with a product or service which your competitor does not serve or to find your niche so that you have a focused approach to selling. You must have a very clear idea of what will make you stand out in the market & what value you uniquely provide to your prospects. Give a different option to your customer for the same product with cost and quality. These will help to survive audience better in terms of flexibility. Keep the strength of your company in mind and address the weaknesses.

4. Generate Quality Leads

The average lead to customer ratio for any industry is 4%-5%. So you can easily figure out the amounts of lead your company needs to keep sales working. To generate leads, you need to spend proper time and money on advertising your product and services. You can also spend money trying to get referrals. Revolusun, Hawaii’s biggest residential company, actually tried the referral strategy for generating leads. They give $500 to a person if he refers someone to Revolusun who then ends up buying a system.

Whatever technique, your company targeting to generate a lead, always give 3-4 months of breathing period. Always take these as buffer time.

5. Co-Market With Strategic Partners

Co-marketing with strategic partners will boost your marketing. Try to gather information about energy auditors or any organic food co-operatives & more. Sure, these businesses will have access to customers who can be a prominent audience for your business as well. And getting a referral from these companies would help your company to close a deal.

Conclusion 

Here at Straight Growth, We know in and out of SMB'S marketing and we are also working with various companies as their marketing consultant and implementation team. Our team of experts can make a customized plan of strategies for the effective growth of your business.

Looking to generate leads and convert them into paying customers through effective digital marketing?