SME Marketing Is The Only Way To Stay Ahead Of The Competition
Posted: Jun 01, 2017
When it comes to small business marketing, the one-size-fits-all mentality seizes to be meaningful. Bigger companies have a bigger budget, and their target clientele is going to be different, and so classifying it with SMEs would be an injustice.
What do we mean when we talk about SME marketing? Well, marketing is ideally the act of promoting your business to the consumer, and convincing them to choose your products or services over the competition. Unless you are operating a monopoly, you will have to set aside a budget for marketing.
SMEs Shy Off
Although small businesses make up about 60% of all the companies in almost every economy, only a handful of them make marketing a priority. Most organizations will make do with free advertisement on social media, and also depend on the goodwill of their customers to pass the world. While that may work, those strategies can only reach so far.
A Marketing Strategy In Place
Even though only one in five SMEs spends any reasonable amount of money in marketing, those who do have reaped the benefits. You would think that would encourage more start-ups to advertise, no? The truth is, no amount of income generating strategies will work was well if your brand is yet to be known to the consumer.
Your business will benefit more from having a digital marketing strategy in place to help it take advantage of all the platforms that available for advertising these days.
Where Do You Start?
First, recognize what your business needs so that you know where to direct your money. Second, work with people who know their way around the digital platform and all emerging avenues and let them pave way for your brand to get noticed. It will cost a pretty penny, but then again you will see growth and value from the cash flow that will follow. A survey conducted by Deloitte says that an SME gains eight times more for every $1 spent on advertisement.
Another thing would be getting the right avenues to capture your target audience. There is social media, which has become a central marketing tool for companies targeting younger consumers and telemarketing. The latter has been a force to reckon with for the last several decades, and it still works its magic in both large and small business advertising.
The bottom-line is, your foundation will determine the future of your business. If you pinch pennies in brand marketing and recognition, you can only expect a handful in returns.
For more information about SME Marketing, visit this website.
This article is written by James Belly. He has got into writing professionally and uploads regular informative articles. You can refer to the articles and the information put down by him and clear your doubts on digital marketing strategy.
He has got into writing professionally and uploads regular informative articles.