Good Marketing Strategies For Small Businesses – Between employee pay and other running costs, small businesses often have minimal budgets for marketing. If you are in a similar position and do not have much space in your budget for marketing activities, do not despair: all is not lost! That’s just the nature of starting a business, especially when it comes to small businesses.
At the same time, every marketing activity requires some investment, whether it be content marketing, pay-per-click advertising or social media. Do not believe the many articles on “Inexpensive Digital Marketing” referring to video content or organic SEO. If you have not experienced it yourself, do not worry – producing content requires both time and effort.
Good Marketing Strategies For Small Businesses
However, having a tight budget does not mean that your small business can not be marketed. There are many reasonable marketing strategies that can help you get your company up the ladder.
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In this article, we will look at two bullet defense strategies – affiliate marketing and social proof marketing. These strategies will bring you free traffic and help you increase website conversions at the same time. What could be better?
A great way to optimize your marketing is to work with other small or large businesses or entrepreneurs in the short or long term. This is called affiliate marketing or affiliate marketing. In short, it is about promoting your product or service through a partner (branch) that receives a certain percentage from you as a reward. (Read more about partnership strategies)
Of course, revenue share may vary from industry to industry. For example, it is about 20 percent lower in the SaaS world and lower in the e-commerce industry.
Where to get inspired and understand the true power of marketing collaboration? Consider the e-retail giant Amazon. Amazon is probably the biggest player in the market to take over the affiliate market.
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Why do very successful companies like Amazon use this type of marketing partnership? They usually pay only after the conversion because there is no advance investment from them, so it is a low risk business. When translated into small business, it makes affiliate marketing one of the positive ROI ways to market online. In addition, there are some other bold benefits that your small business can get from affiliate marketing:
Almost all affiliate marketing campaigns provide real-time tracking. This lets you know exactly how many times your affiliate link has been clicked and how many leads you have received from affiliate sites. Everything is monitored and you can clearly understand the effectiveness of your marketing cooperation campaign.
If you have a product launch or special sale, please share this information with your marketing partners so they can share the information with their audience.
With affiliate marketing, you only pay your partner when a conversion or sale occurs. You only pay for what you get.
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Sounds interesting? Now let’s cut to the chase and learn the process of market cooperation. In short, affiliate marketing is about choosing to work with other businesses that can help you sell your product and drive traffic to your website. The process looks like this:
Once you have identified the needs and goals of your small business, now you need to find an influencer who works in your market. Sometimes other small businesses will look for you, but the surest way is to step in and identify potential business partners yourself.
Look for businesses that are relevant to your industry (but not direct competitors). On the other hand, look for companies that sell additional products or services. By doing this, you can meet new audiences related to your niche for free! It goes without saying that a great partner is someone who has a good reputation in your business.
Market cooperation can take many forms. Encourage mutual social media sharing, co-organize an event, put each other advertising banner on your website and everything in between.
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Affiliate marketing accounts for 16% of all online orders. If you do not take advantage of this cheap and productive way to increase your small business income, you will leave cash on the table. Use the help of many reliable market partners and be prepared for more closing deals with return on investment.
Attracting users to your site is not enough. If they just walk away, you will not get much in return. You need to take them to the next step and transform them into leaders or even customers.
Why should your website visitors believe they can solve your small (and perhaps unknown) small business problems? You need confidence that you will deliver real value to potential customers. A good way to do this is to use social proof as a marketing strategy through some of these methods: reviews, testimonials, star ratings, opt-ins, discounts, referrals, and other methods that allow website visitors to connect with Your existing customers.
Social evidence plays a role in the motivations and inclinations of our natural human beings. When booking a hotel room online, the words “125 people are looking now” make us want to book quickly and not miss out. When a product has negative feedback, we are reluctant to buy it.
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Several case studies have shown that personal messages are 10-15% more effective than non-individual messages. Professor of Psychology and Marketing Robert Cialdini confirms this statement. As Cialdini says, when people do not know what to do, they look around for guidance and tend to accept your favorite words.
Other scientists have determined the effects of loss. According to this theory, people value avoiding loss more than gaining equality. For example, you can eliminate some of the losses from your marketing strategy by offering a limited trial period. This way you will be able to feel that you do not get your future product after the trial is over.
Also, the loss of market dissatisfaction occurs when you create a copy of a sale that emphasizes what your customers will lose if they do not buy or upgrade.
The social evidence market is also based on a lack of communication. For example, you might see an e-commerce site that says, “There are only five items left at this price!” Did you see the message? Deficiency is the psychological principle that a rare product is more valuable. The market of scarcity can be called FOMO (fear of failure).
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Black Friday sales with deep discounts and their attractive offers are a perfect example of scarce activity. Because there is nothing harder than losing a great opportunity. For inspiration, check out online clothing stores that are known to use instant emotion in their campaigns.
How can you apply these principles to your marketing strategy? The best way to boost your hopes for action is to say that other people in the same situation did it and achieved success.
On the other hand, draw similarities between your future and current customers using social proof. According to the concept of social evidence, consumers accept the actions of groups of people they like or trust. After all, if people you know and trust are satisfied with a particular product, why not?
There is a wide selection of social proofing software tools you can use to improve your website. And you do not have to be a technician to run it.
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Two reliable marketing strategies for small businesses – affiliate marketing and social proof – are designed to bring you less money: maximum traffic and customers with minimal cost.
Social Evidence Marketing leverages your existing customers through appraisals, testimonials, assessments and more to build more leads and conversions by building awareness and trust of your brand among potential customers. The best way to automate these activities is to adopt a comprehensive social proof platform.
However, by combining the low cost marketing ideas mentioned above with your business, you will be closer to the perfect hacking strategy.
Carsten Schaefer is the founder and CEO of crowdy.ai, an easy-to-use platform that integrates social proof and messaging tools to increase conversions and sales. Inspired by the principles and mechanisms of social proof, Karsten is now on a journey to help businesses gain credibility and grow in the digital landscape. Feel free to connect with him on LinkedIn, Facebook or Twitter. As a small business owner, you know you need a solid marketing plan, but you may not know how to develop an effective strategy. Should you stick to your tried and true marketing strategy or mix it with a new approach? With dozens of options out there, how can you choose and create a marketing strategy that works for your small business?
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Here’s what you need to know to create and implement a successful marketing strategy for your small business.
Creating a marketing strategy for your small business can seem overwhelming, especially when it comes to your online marketing. Many different methods and hundreds of articles claim to know the “most effective” strategy.
That is true
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