How to Market a Small Business

Updated: Jun 30



Having a small business means you have to joggle between tasks and priorities within your day to day operations. And this applies to you as the business owner and your employee as well. The critical success within your marketing campaign is to create a simple marketing strategy that is easy to understand and execute AND review.


There are four phases in the marketing campaign. They are as follow:


1) Research

2) Planning and Strategy

3) Execution/ Implementation

4) Review and Analyse


Research



For small businesses, it's most likely that you are serving a specific customer. You need to understand them, get to know them, and by then you can create the product(s) and messages that communicate to them. You must identify the following points:

- Demographics

- Geographic

- Consumed Channels

- Behaviour

- Buyer's Journey


It's also critical to understand your market- Especially the environment and how it influences the supply and demand. Researching and understanding your market environment is crucial for creating your SWOT analyses. 1TrueMarket uses STEEPLED and Porter Five Forces to help monitor the market environment.


STEEPLED

Social, Technology, Environment, Economical, Political, Legal, Ethical, Demographics.

Porter Five Forces

Competitive Rivalry, Supplier's Power, Buyers Power, Threat of Substitution, Threat of New Rivalry.



Reviewing and analyzing the marketing campaign. (Opportunity and Threats)


Your strategy should revolve around 4Ps; Product, Price, Promotion, and Place.


Product: What problem does your product/service solve?

Price: Can your target market afford your product/ service?

Promotion: Marketing Strategy (Branding, Contents, marketing tactics)

Place: Online store, Physical store or both? And don't forget Logistics!


Your marketing strategy should be short and straightforward. It would be best if you addressed the following questions to make your marketing strategy clear and straightforward for all your stakeholders to understand:


1) Objective

2) Single Best Competitive Advantage

3) Target Market

4) Marketing tactics

5) Positioning

6) Identity

7) Marketing Budget


Execution and Implementation


Your marketing campaign should be compatible and fits into your day to day operation. It would be best to have one person manage the marketing campaign while others contribute by sharing ideas and help to execute the marketing campaign.


Managing your marketing campaign

The marketing manager should responsible for:

- Ensuring the marketing effort is consistent

- The marketing activities are aligned

- Managing the marketing Schedule

- Initiate any marketing needs

- Managing Business SWOT (Strength, Weakness, Opportunity and Threats)

- Developing marketing strategies

- Reviewing and analysing the marketing campaign


Stakeholder's Contribution

- Execute the marketing activity

- Contributing ideas


Reviews and analytics



Your marketing tactics should be trackable. Facebook ads already have built-in metrics, while the same goes for Google Ads. Google Analytics is best for both tracking your Google Ads and Website. Other online marketing tactics should be relatively the same.


Your offline marketing tactics are harder to keep track of, and it's another topic on its own. But to keep it brief, you should record all resources put into your offline tactics and continuously seek feedback from your customer.


You should continually review and analysing your marketing campaign throughout the implementation phase. And ONLY make any changes to fault, errors or flaws within your marketing campaign. Too many people expect marketing as magic were implement will obtain instant results, but it's far from the truth. Great marketing requires commitment and confidence in your own decision.


Conclusion


Marketing is communication between your business and your customer. You need to identify what your customer wants, then you develop your product and communicate your offer back to them. You should be adaptable by reviewing and analysing your implemented campaign and conduct research to keep your marketing campaign relevant.


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Sydney, Australia

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