Marketing Strategies that can help MSMEs Succeed
The development of lots of state of the art technologies is effecting a lot of changes across all sectors of the economy. Most of these top technologies are being channeled to get huge gains by large corporations through effective digital marketing strategies. These strategies are employed most of the time in order to have an edge over their competitors. It is also an established fact that the end goal and objective of many business entities, regardless of their size, is to maximize their sales and return on investment, while spending as little as possible.
Despite the fact that there are diverse digital marketing strategies which many huge business entities use to attain their business projections in a given period of time, there is a stereotype in the business world that the micro, small and medium-sized enterprise (MSME) sector cannot enjoy these benefits as well. This is in fact, not the case as we have seen lots of MSMEs which employed different digital marketing strategies which may not be as expensive as the ones employed by huge corporations, but gets the job done. Regardless of the size or the finances involved in a business, digital market is for all and works for all businesses.
Some of the digital marketing strategies employed by most MSMEs includes the likes of blogging, social media marketing, influencer marketing, email marketing; depending on which needs they wish to satisfy as well as capacity. When speaking of the digital marketing world, ceaseless innovation and consistency are required as it is unknown which combination of strategies will yield maximum result. As no one can guarantee the success of any single strategy, MSMEs must continuously keep trying out different approaches for different opportunities.
Through this article, we will evaluate the different marketing strategies which can help get your MSME in the right direction to improve productivity, reach, achieve business goals by reaching your target customers.
Consistent Online Presence
This is one of the most effective strategies which Micro, Small, and Medium enterprises can employ in order to reach their target market. To achieve this feat, it is important to set up your business profile across all social media networks available and accessible to your target market. Some of the most popular social media platforms you can set up your business profile includes Facebook, Instagram, Twitter, LinkedIn, and so on. That way, you can be within reach to your customers from anywhere around the world.
It is also important to keep your business profile and contact information updated to allow people drop messages easily at any time. This result in the generation of leads for your business, even when you are sleeping.
Through your business profiles, you can showcase your product offerings, what makes you different from your competitors, product promotions, deals, vouchers, and other related events that keep your target market engaged with your business. You can also provide customer feedbacks by uploading customer reviews of your services and how satisfied they are with your business.
Of course, these platforms should not be treated as a replacement of your offline marketing efforts that may include banners, hoardings, print ads, sponsorships, etc. Proper balance between the two strategies will help you grow.
Write about your products
This is one of the most effective means to market your products online. Writing blogs about the products and services you offer is one of the easiest ways to get the attention of your target market. Through these blogs, you will have a chance to give a detailed description of your products, how you execute specific services, the perks of doing business with you, reviews and so on.
While this is effective for improving engagement with your target market, many business owners complain about their inability to write blogs. This is due to the thought that it requires a lot of expertise to be able to develop content together that is enough to convince their customers to buy. Well, that is not the case about product blogs. It does not require any much skill or expertise as all you are required to do is to develop a small piece that simply discuss the product. Also, to save yourself from this stress, blog development is one of the tasks which you can outsource.
Entrepreneurs can Share their blog content through their numerous social media networks. Doing this on a consistent basis will help demonstrate your expertise, create and develop your brand, build your reputation, and increase your reach to customers. This brings the desired visibility for growing your business, and start improving your rank on the search engines.
Add to this the practice of sending emailers to your existing clients and also to those who are your target audience. This will help not only to promote your content, but also improve sales, and nurture leads for future.
Use word of mouth – connect with Influencers
Businesses that offer good customer satisfaction not only enjoy good customer retention, but also enjoy good word of mouth – or client testimonials on your site and social media platforms. The more customers write positive things about your products and services on the site, the better surge you will see in your number of customers.
In addition to this, if you can get an influencer (a celebrity, a well-known blogger, anyone who a lot of people follow and trust) to endorse your services and talk about them, the visibility of your product will grow by leaps and bounds.
Mix them up
No one strategy can help you achieve the desired growth in silo. What you need is to mix and balance the strategies and use them continuously. The keyword here is continuously. The moment you stop working on a piece, the strategy will fall.
If you have written and published a blog/article on your page but you do not go ahead and publish and republish about it on the social media, you will not gain the mileage that you can from that single article. But then, writing and promoting just a single article won’t work either. Both the activities need to be performed continuously.
Here’s a list of a few proven strategies that are helping businesses across the world:
- Advertising on Facebook
- Add your profiles on directories such as Google My Business
- Invest in content marketing
- Build an email marketing funnel
- Speak at, sponsor, and host events/webinars
- Offer a free consultation
- PR works wonders – advertise in a highly rated print media
- Write a column/article – continuously
- Join and make your presence felt in local business groups
Though there are lots of digital marketing strategies which you can apply to your MSME on this article, it is possible that not all of them will work for your business. However, combining the few ones outlined here will definitely yield desirable results which is to connect your business with your target market. As a result, the productivity of your business is enhanced, business objectives attained, and growth is inevitable.
Try out each of these strategies expressed through this article by combining as much as you can. You can then evaluate which strategies works best for you. In the end, focusing your energy on the ones that work will lead to maximized gains.