Smart Marketing Can Give Small Businesses An Advantage In 2021
Topic: Smart Marketing Can Give Small Businesses An Advantage In 2021
Businesses are diligently working to recoup last year’s lost earnings following the start of the pandemic. Holiday sales in the United States beat expectations in 2020, but were primarily made online, forcing many small businesses to cut hours and trim staff to stay afloat.
When business owners have to make budget cuts, the marketing budget is often considered as it can be erroneously viewed as a non-essential expense. Research reveals companies who invest in marketing during a recession bounce back faster than companies who opt to cut their ad spending. Small businesses can improve their chances of success by bolstering their online platform and wisely allocating their marketing budget into programs designed to generate results.
Give your business an advantage this year by fine-tuning your marketing strategy to include various methods of reaching customers. New mover marketing, a strong social media presence and community involvement are three ways you can help your brand navigate the current economy successfully.
Think of new ways to add customers.
Businesses who cut their marketing budgets during lean times run the risk of being overshadowed by the competition and preventing new customers from discovering their brand. The pandemic has resulted in people not exploring their local area as often as usual, which is why this is an opportune time to consider a new approach like direct mail and new mover marketing. These methods reach out to consumers without them having to leave their home and guide them to businesses like yours that are seeking customers.
Many people are fleeing their current neighborhoods and relocating to suburbs and small towns to provide stability during this difficult season. An analysis of data from the United States Postal Service revealed more than 15.9 million people moved last year. Targeting new residents will introduce people to your brand before they have a chance to build loyalties with your competitors.
Boost your online presence.
A report from Mastercard estimates online holiday sales increased 49% compared to 2019. This increase shows that shoppers are turning to the internet to price check, shop and read reviews of products and services. Your business should have a strong online presence in order to connect with customers digitally.
Fortunately, social media allows you to share information about your business by posting to your respective profile at no cost. Promoted posts and paid ads, however, do cost money. Social media advertising and promoted posts increased to 83% last year, according to a report from the Content Marketing Institute. Posting on social media can increase your company’s rank in search engines and provides a platform for sharing customer testimonials, website blog posts for customer tips and more.
Topic Discussed: Smart Marketing Can Give Small Businesses An Advantage In 2021
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