Marketing Strategies for Ambitious SME’S

Marketing Strategies for Ambitious SME’S

While the Small and Medium Enterprises play a major role in many economies, they still have a lot to contend with on a daily basis. From under capitalization to lack of government interest; poor infrastructure to lack of access to loans, these bottlenecks are quite restrictive. With these in mind, many SME’s try a lot of approach, hoping one would stick and bring good ROI, but at the end of the day, many of these approaches hurt their brand rather than take it to the next level.  With their lack of experience in marketing and lack of capital, most SME’s are tempted to go for the cheapest option, which is not always the best.

Having tried many tactics, most of which didn’t work, as an entrepreneur, you are forced to ask the following: what are the best marketing strategies for SME’s? How can a small business owner attract new customers and increase profit?

Here are some tips that can help you get the best out of your marketing campaign.

Firstly, know your customers. You need to know what they need, how they get it, where they go to get it, and the platform they prefer. Also of importance is how they use the products and how they describe it.  All these would make. Understanding the need and desire of your target market should be the underlying principle of every marketing campaign.

Set Objectives

Always endeavor to set objectives for your marketing campaign. This objective will guide you and set the standard you will follow. You have to be specific about what success is, and state the measurable metric and the overall objective of your marketing campaign. You need to state if the objective is to increase sales, or drive traffic to your website.

Embrace Multi-channel Approach

A lot of SME’s still make the mistake of sticking to a single marketing channel. This may be due to perceptions, limitations, or in a lot of cases, lack of understanding of other means or approach to marketing. The most successful SME’s employ a multi-channel approach and then sync and maintain brand consistency throughout. The digital channels is not the only way to market, whereas, traditional marketing should also not be employed solitary. Both should compliment each other. Your print collateral like business cards and flyers should link people to your online presence, whereas being online should not stop you from targeting your audience through the use of print materials.

Marketing is one of the more important aspect of nay business and care must be given to it. Always ensure you do your research and know the right platform and who your target market is before putting your money into any campaign. Also plan beforehand so as to get a good return on investment.

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