Growing one’s business in the 21st century is a sort of conundrum. There’s no one answer to it. To grow your business, you need to advertise and market it. But to do that, in these modern times, you have to spend money. Even before the pandemic, businesses are not swimming in cash. They’re working on a shoestring budget with not enough money for the kind of advertising expected from businesses today. Fortunately, there’s always a way around the lack of money. Businesses must put in the hard work then if they want to capitalize on time-tested advertising strategies.
Build Your Influence
In Singapore, businesses make a revenue of about $6.85 for every dollar they spend on influencer marketing. This makes influencer marketing one of the most successful marketing campaigns. The return on investment (ROI) is ridiculous if you partner with the right influencer. This is why businesses are paying good money for social media influencers to advertise their products. In fact, gone are the days when businesses are targeting celebrities and athletes. Today, these influencers rule the advertising and marketing worlds. Just make sure you’re picking the right influencer to represent your brand.
The common belief is that traditional advertising such as billboards and newsprint is dead. Sure, there is some sense to that. But the more accurate explanation is that traditional advertising simply changed forms. Your brand needs to be in people’s faces the moment they open their eyes and drive to and from work or school. Seeing your brand in outdoor digital advertising spaces such as digital billboards makes you more legitimate. The fact that you’re spending on these advertising methods will make people trust you more. They know you’re not just a fly-by-night brand.
Focus on One Social Media Channel
You do not have to be active both on Facebook and Instagram. They have different markets, so it would be best for you to choose where your market likely “hangs out.” Is it on Facebook where the market seems to be more diverse? Is it on Instagram, which, for online sellers, is mainly for targeting Millennials and Generation Z? Managing all two or four social media channels is overwhelming. You need to devote your time to one platform. You will have very limited time to interact and engage with your customers, so make it worth your time.
Reach out Through Email
Like with traditional advertising, a lot of people thought email to be dead. It’s not. It’s far from being dead. More than 60% of marketers believe email is still the best channel to reach their audience. Customers likewise respond and react well to email marketing. If you haven’t built your email list, right now is the time to do it. Although your customers will most likely not reply to every single email campaign, they will open and read it as long as you strategize correctly. Create multiple offers. Personalize the email so it is addressed to them. Add call-to-action buttons that will make them visit your site or blog.
Claim Your Google My Business Profile
Local search engine optimization (SEO) will make or break your business. Forgetting to claim and optimize your Google My Business (GMB) listing is the worst thing you can do when advertising your business. People will look for something like your business on Google. If you do not optimize your GMB page, you will lose the opportunity of Google users knowing about you. GMB is the most effective rank factor for local businesses. It is based on proximity, categories, business title, and keyword placing.
Explore Partnerships with Other Brands
Businesses strive because they recognize the strengths of their competitors. Utilizing partnerships with other brands (similar and complementary) will go a long way toward reaching new markets. No business can survive alone. You need collaborative partnerships that will bring new life into your business. But remember that these partnerships should be mutually beneficial. Your partners need to get something from you, too.
With competition left and right, it is harder than ever to stand out in any industry. How can you be different is the question most business owners ask themselves. It is the wrong question to ask. While being different is a welcome gift, it is also impossible not to have competition in the market. You have to accept that at this point, there are a few business ideas that haven’t been tapped yet. Somewhere out there, someone’s operating a business the same as yours. So what you need to think about is a unique advertising strategy that will get your brand to your market’s consciousness and earn their trust and commitment.