Digital technology has transformed and improved the marketing methods used to promote the typical small business. Instead of using the traditional mass media such as radio, television, and newspapers, which are very expensive, you can use the methods in this article to reach your target audience without spending a fortune. As revealed in a small business marketing survey, the following are the most effective marketing tools that will offer you a high return on your marketing investment.
Over 84% of customers put their confidence in what their friends and family recommend to them, and 62% of businesses said that word-of-mouth was effective for business marketing. Word of mouth marketing may be carried out in two forms: paid and unpaid. The unpaid form of person-to-person marketing occurs spontaneously when you satisfy your customers and they tell their friends and loved ones about your product or service. This is one of the most effective business marketing strategies because it helps you to turn your satisfied customers into your business promoters. The only thing it costs is what you put into providing exceptional customer service.
The paid form of word of mouth marketing involves selecting some of your happy customers and turning them into affiliates. This is done all over the web in form of affiliate marketing. It can also be done by people within their neighborhood and through online forums where people trust the opinions of other members. All you pay for this is a commission when someone, who is referred to your business, makes a purchase.
About 34% of the businesses in the survey said that marketing by email offered good returns on their investment. Also, for every $1 spent on email marketing, businesses were able to earn over $44 in return. Email marketing involves building a list of prospects and customers and developing trust and credibility with people on your list by providing relevant and helpful content. When you do this, your prospects will naturally trust your recommendations about products or services, so they will be more willing to buy from you when you make a special offer.
Survey results show that more than 82% of the consumers online are reachable through various social media channels. That’s why it has become a frequently used marketing platform for businesses today. About 43% of consumers said that they will buy a product or service after it has been shared on social media by their friends and followers.
Social media channels offer unique opportunities to target various demographics with a specific marketing message. It is quite possible to find groups of people living in your community and start interacting with them in order to promote a product or service that will be a great solution to members of the group.
Other Forms of Marketing
In addition to the three methods of highlighted above, you may also make use of some others like networking, search engine marketing, content marketing, direct mail and pay-per-click marketing. Survey results show that the percentage of businesses that found them to be effective were 25%, 14%, 13%, 12%, and 8% respectively.
Word of mouth is the most effective method of marketing a small business. You should master the art of encouraging people to talk about your business. In addition, you should learn to use social media and e-mail marketing effectively to get the best returns from your marketing campaign.
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