The biggest mistake small business owners make is not investing in marketing. It’s easy to believe that advertisements and marketing are designed for big companies only. You understand your business model, but you don’t know how much money and exposure you’re turning down. Don’t learn something new, hire someone who knows what they are doing so you can see the ROI.
it was the best of times it was the worst of times…for small businesses
Now is the best environment for small companies to thrive. It might seem counter-intuitive with economical changes that are happening. Currently, the corona-virus is crippling retail, restaurants, and small businesses. Nearly any company that depends on foot traffic has taken a hit. Beyond that it’s been difficult to sustain employees, driving unemployment to its highest levels since the Great Depression. So why then does Des Moines Creative think it’s the best time for small businesses?
low buy-in and high exposure
Small businesses have a low buy-in and high exposure on social media platforms. Large networks, billboards, and print media may be designed to benefit the wealthiest. However, now is the time for small businesses to gain exposure to the masses, and instead of a $2,000 buy-in, you set your own price $10-$1000. Even better than setting your own price, small business has control of who sees their content, you control the narrative, the audience, and the region.
What is holding small businesses back from this? Small businesses, entrepreneurs, and tradesmen spend the majority of their time working and sustaining work. It becomes difficult with steady work to make the time. Beyond that, there’s the techy learning curve that a lot of business owners don’t enjoy. If you’ve created a business to avoid being stuck at a desk, even the thought of digital marketing goes against the premise of the business.
It’s hard to imagine, but there are some of us that like the data-driven end of the business. You want to work with someone who can take your business to the next level. If you have consistent steady work you might have hit a wall for growth. Perhaps you work with the same builders, clients, etc. This is great but you can find that you’re dependent on that relationship for your success.
The other lost opportunity small businesses make is under-investing in social media and digital marketing. Social media platforms have a secondary setup for businesses. It’s a misperception to believe it’s the same platform that you post pictures of your dog on. The business model of social media is in paid advertisements. The ultimate goal is that they provide the most value at the lowest costs. You can create a tap to call, get followers, sell promotions or projects, and insert your ads. Your company can look as successful as you want, and you can re-run promotions for years to gain 100k-millions of likes to reinforce this big company perception. You should invest 7-10% of your revenue in marketing and advertisements.
expand your companies market reach with digital marketing
Perhaps you want to work with a specific company out of your usual region, that’s when you position your content to target them. You can select their ( decision-makers ) region, interests, age. From there you can reach out to the decision-makers. It’s easier to work with someone they’ve heard of, it creates brand trust. So now physiologically you’ve landed a huge client. Your investment to reach this client might be 6 months of advertisements on social. So you’ve spent a percentage of your income on this but the ROI has expanded your business by 20-40%.
work with your marketing agency or marketer to grow your strategy
Find the right people to work with because quality takes time. A smart team will develop a plan to keep you busy. EX: You’re always busy in December but always slow in July. With strategy, you can work on booking those July appointments by advertisements in the Spring with a campaign you created in winter. By July you’re already working on your fall campaign. These campaigns drive a more consistent demand and naturally increase sales. This is not a short-term strategy. It could take up to a year to build exposure, and the following year you’re able to maintain a steady or growing work-load.
we haven’t even scratched the surface of your SEO
Wow, and this is only the start of your social media strategy. We haven’t even begun to talk about how each platform has a different approach. Let’s jump over to a little SEO fun, metadata! Oh, I can just see owners cringing at this, but this only gets me excited. Did you know you can dig into your competitor’s sites and use their metadata? With research and writing, you can be the first result on a page. Organic traffic is free money. Find what people are looking for and rank. Being the first result on google carries its weight. That is a whole other way for small businesses to grow, but it does require having a website set up and dedicated time to keep it updated. We’ll dive into that later!
Would you like to discuss a strategy for your business? Set up a consultation appointment with Des Moines Creative to talk about how you can get the most out of your marketing budget.
Happy advertising! Enjoy your new data-driven success.