Are There Any Promising New Solutions for Small Business' Marketing Problems?

1. Entrepreneurs have to be on their toes all the time because the business world keeps changing at a fast pace.
2. When it comes to small business marketing, some common challenges arise while finding an appropriate market segment, explaining your products and services to the customers, shortage of experienced salespeople, etc.
3. However, that does not mean that you cannot tackle these problems.
4. There are many tools available today that can help you to find solutions for the issues that you come across while marketing for your small business.
5. Here are some of the common problems with their solutions listed below.

Determining the Prices of Products

• One of the most common problems that most small business owners face is when they are unable to decide prices for their products.
• Keeping a low price point can reduce their profits, whereas increasing the price point can impact their sales negatively.
• Therefore, it is better to understand the price range that your competitors charge for similar products.
• You can also do online research to check whether customers find a particular product pricey.
• The best solution will be to affix a minimum price that you can charge because then you will know that you have not taken any risk as far as its impact on sales is concerned.
• Also, do evaluate your expenses, cost of services, labour charges that you have to pay, etc. so that you don't end up giving up most of the profit to others.
• Once you fix the price, you can work on making your product more appealing by improving the features of your products, incorporating better customer service, and focusing more on social media marketing.
• For example, you get good coffee in many coffee shops.
• Still, only Cafe Coffee Day or some other reputed brand can charge a high price for their coffee because of the impeccable service, ambience, and other facilities that they provide to their customers.
• Therefore, there is no need to curtail the prices if you are going to offer something better than your competitors.

Lack of a Marketing Plan

1. Most small and medium-size businesses don't have a marketing plan in the first place.
2. Therefore, they don't know which products they must emphasise while promoting their business.
3. Lack of marketing plan also means that such businesses don't know when is the right time to start marketing campaigns and promotional strategies.
4. For example, if you own a tea emporium, then you must know that the onset of the rainy or winter season should be ideal to start promoting your products on various products.
5. Similarly, if you own an ice cream factory then begin your marketing gimmicks from the onset of summer so that your products get quite popular by the middle of the season.
6. However, just knowing the right time is not enough as you will have to chalk out an effective marketing strategy as well.
7. For that, you will have to consult a marketer who can understand your target audience and business requirements perfectly.
8. If you are on a budget, then you can learn some things like managing your invoices, social media handles and pages, and customer service on your own.

Reputation and Brand Power

• Small businesses might not have a powerful brand image, due to this, the reputation of your brand also suffers.
• You will have to take care of many small things to create a good image in the minds of your customers.
• Firstly, you will need to provide exceptional services along with high-quality products to your customers.
• If you are not able to do that, then you can focus on reducing your charges as it will be the only option left with you.
• In such cases, you can at least try to fill the gap of lagging products and services by providing dedicated support services to your consumers.
• Your professionalism and treatment of your employees and salespeople can also make a huge difference in your brand's image.
• Post something helpful on social media channels so that your customers can keep checking your page or profile whenever they come across an issue.
• By inculcating a warm and healthy atmosphere in your workplace, you can try to win over the hearts of your employees and customers at the same time.
• Don't forget to install a happening front desk because you will also need to convert your reach into sales.

Online Presence

1. An online presence can be the key differentiator between a struggling and well-established business.
2. Therefore, don't forget that you will have to leave your footprints on all the possible digital mediums.
3. Online presence doesn't mean having a profile page with a few images and an old blog on your social media accounts.
4. You must be active daily and try to engage as much as you can with your existing and potential customers.
5. Don't forget to add numerous contacts on your support page so that your customers don't feel cheated when they need you.
6. Be quick to reply to consumer emails and complaints as it will make your customers feel important.
7. Also, run a promotional campaign now and then to keep your audience guessing.
8. For example, you can organise a short trip with your old and dedicated customers and post pictures of your outing on social media channels.
9. It will make your audience happy, and even someone who is thinking to order your products or services will be drawn towards your store.
10. If you are running a food joint, then you can post recipes and healthy eating tips on your social media pages and handles.
11. Respond to the personal messages of visitors instantly and try to convert them into loyal customers by offering something unique and useful to them.

Finding a Market Segment

• Most small business owners struggle to find a proper market segment where they can promote their products or services.
• Starting a business is not the solution to all your problems as you will also have to figure out the people who need your services or products.
• For example, you cannot open a shop that sells farming equipment in a city that is not surrounded by farmlands.
• Similarly, you should not target married people if you are planning to open a marriage bureau.
• Your first step should be finding the number of people who might be interested in the services or products that you are offering.
• If you find that not many are interested in buying your products, then you can try to improve its features, launch new products, and upgrade existing ones to expand your market segment.
• Once you find your market segment, you will also have to explain your products and services nicely to them.
• To do that correctly, you will have to think from the point of view of your customer because only then you will be able to understand what attracts them the most.
• Also, look for people who share similar goals and values like you.
• No, we are not telling you to enter into a partnership, but we are associated with people who have similar business ideas and goals that will ultimately help you understand your business requirements better.
• Small businesses might not have a powerful brand image, due to this, the reputation of your brand also suffers.
• You will have to take care of many small things to create a good image in the minds of your customers.
• Firstly, you will need to provide exceptional services along with high-quality products to your customers.
• If you are not able to do that, then you can focus on reducing your charges as it will be the only option left with you.
• In such cases, you can at least try to fill the gap of lagging products and services by providing dedicated support services to your consumers.
• Your professionalism and treatment of your employees and salespeople can also make a huge difference in your brand's image.
• Post something helpful on social media channels so that your customers can keep checking your page or profile whenever they come across an issue.
• By inculcating a warm and healthy atmosphere in your workplace, you can try to win over the hearts of your employees and customers at the same time.
• Don't forget to install a happening front desk because you will also need to convert your reach into sales.

Final Words

1. Opening a small business is not a problem but retiring from a small business is.
2. Therefore, always look for more opportunities that would help you expand your business.
3. Innovate your business strategies and make your online presence felt so that you don't have to go out searching for customers.
4. The most important thing is knowing what your business is lacking so that you can find solutions to overcome the issues.

Also Read:

Best Tips for Small Business Owners

Why are Small Businesses Important to the Community?

Where to Get a Small Business License?

FAQs

Q. Which strategies can I implement to improve the marketing for my small business?

Ans: Analyze your competitors, add testimonials to your site, stay relevant on social media platforms, be an expert on the product or service that you provide so that you don't have to rely on anyone when it comes to explaining your products or services. These small things can help you implement smarter strategies for your small business.

Q. What kind of hurdles does a small business face?

Ans: Lack of expert advice, incapability to adapt to changing marketing trends, failing in managing time, etc. are some common hurdles faced by a small business.

Q. Which are the best marketing options for small businesses?

Ans: Marketing via emails, reaching to customers organically via social media sites, using affordable marketing tools offered by Google Adwords, content marketing, etc. are some of the best marketing options for small businesses.

Q. How can small businesses improve customer count?

Ans: Small businesses can ask for references from existing customers, contact old customers, revamp old websites, and sell their expertise on social media to improve their customer count.

Q. Can small businesses target international audiences?

Ans: Yes, if their product or service is relevant internationally and if they can provide them to their international audience without compromising on their local business and profit.

Q. Which is the first thing that I must do after starting a small business?

Ans: After opening a business, the first thing you must do is to identify your ideal customer and market segment.