Every business, large or small, needs to invest in some form of marketing. Getting the word out about your brand is the key to growing and maintaining your customer base. But unlike larger companies, local small businesses can't afford big, splashy campaigns to grab customers' attention — they have to make their marketing strategies fit into a much tighter budget.
In a recent survey by local marketing software company Brandmuscle, one-third of small business owners said their annual marketing budgets are increasing by more than 10 percent. But even with this increase, 48 percent spend less than $5,000 annually on marketing. In addition to the challenge of having limited financial resources, small businesses have the added burden of finding the time to strategize on top of all their other responsibilities.
"Today's local businesses have plenty of opportunities to innovate across every aspect of their business, [but] there's still only seven days in a week," said Dan Antonelli, CEO and creative director of advertising agency Graphic D-Signs. "Business owners then have a major dilemma in where, when and how long they dedicate to their marketing efforts."
To make the most of your small business's time and money, here are five effective local marketing tactics from the experts. [6 Clever and Offbeat Marketing Tactics Your Business Can Afford]
Digital outreach
In today's world, it's nearly impossible for a company to be successful without some kind of digital presence. Business owners know that customers are searching for them online, and yet many local businesses are reluctant to adopt digital methods like social media, SEO and even a basic business website. The Brandmuscle survey found that business owners find digital media to be "too complicated and time-consuming," and therefore won't invest in Twitter, Facebook or online advertising.
"Many small businesses are so overwhelmed by the number of choices and the level of effort required to maintain [digital marketing] programs that they do nothing," said Clarke Smith, chief strategy officer of Brandmuscle. "We advise starting small. Talk to customers [and ask], how do they find you today? What types of information would be helpful to them? Are they price-driven? What social channels do they use?"
Smith recommended scheduling time for marketing, even if it's only an hour a week. It's also helpful to put together a calendar and craft social media posts ahead of time.
Coupons
It's one of the oldest tactics in the book, but it's also one of the most effective: A coupon will still drive customers into your store. Whether they're clipped from a local print publication, mailed to a customers' home or sent straight to inboxes, coupons remain the most popular local marketing tactic among small business owners, with 83 percent of Brandmuscle respondents saying they use coupons to bring in new and returning customers.
"Small businesses tend to like coupons because they are easy to create, relatively inexpensive to produce and can be tracked for ROI," Smith said.
First-time freebies
For businesses that are looking to generate new leads, offering potential customers a free product or service for their first visit is a surefire way to bring people into the store. Brian Mattingly, founder and CEO of marketing services and technology franchise Welcomemat Services, said that a no-strings-attached gift to kick off a customer relationship will create a sense of loyalty, but only when it's with the right audience.
"Consumers who are eager to find a great deal typically won't come back [after a free offering]," Mattingly said. "Their loyalty is with the deal, and that is what drives them. Loyalty starts with targeting a consumer group that is not just looking for a deal but has a need for your business or service, and of course, they must live near the business. The perfect example of the 'right' customer includes someone who recently moved into a new neighborhood or a couple that just became parents."
Angie Shafer, owner of Suite Hair#7 hair salon and a client of Welcomemat Services, offers new clients with a Welcomemat coupon a free haircut and half off a hair coloring, and three out of four who use the coupon become loyal, repeat customers.
"[The coupon] gives them a chance to try us and see if they like us and our work, with minimal risk to them," Shafer told Business News Daily. "To me, a haircut is my time and not out of pocket. I'm willing to do it for free the first time because they come back, and I make a profit on the back end with a loyal client.If you give a little, you get a lot back."
Rebranding
When most people think of rebranding, they think of a big, time-consuming overhaul that requires a huge investment. But rebranding can be as simple as modernizing your logo, switching your slogan or even just updating your company website. Doing something just slightly different from your status quo will pique customers' interest and make them want to learn more.
"The effects of a comprehensive, well-executed rebranding have shown tremendous benefit across the board," Antonelli said. "Being taken seriously in 2014 and beyond means having a big-time brand. Companies need to make things easy, convenient and fun if they hope to survive the next five years. So whether it's creating a great experience with an intuitive and responsive website design or crafting a logo that makes customers crack a smile each time they see it, marketing needs to have emotion."
Special events
Brick-and-mortar businesses have a unique opportunity to host special events for their local community. Chris Elliot, CEO of Beef 'O' Brady's sports pub franchise, said that on the 20th of each month, his restaurants host a "Customer Appreciation Day," where guests can come in and redeem a scratch-off card for a chance to win free food.
Elliot noted that foot traffic increases 11 percent during Customer Appreciation Days. The reason he believes customers keep coming back is because the owner of each restaurant personally hands them their scratch-off card and thanks them for their patronage, thereby establishing a personal connection.
"The emotional engagement is the key," Elliot said. "If you know the customers — if you know their families and their kids' names, and engage with them on a personal level — you're going to form a connection that is going to give you an edge and lead to a lifelong customer. That makes a huge difference. You have to have the same loyalty to your customers as you expect from them when you put a customer loyalty program in place. It has to work both ways, or else you're going to miss the mark and won't see the same level of return on the investment."
Culled from http://www.businessnewsdaily.com/
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