Unfortunately, new small businesses have a high failure rate. There are large overhead costs when starting a business, and these coupled with lower initial revenue can lead to many businesses failing before they even get a chance. One of the biggest hardships for new, small businesses is marketing. Not only the cost, but also how to properly go about it. Using a marketing agency can often be out of the budget, and without their input and knowledge, how will you know where to spend you marketing dollars wisely?
Although it may seem tough, there are actually a lot of ways that new business owners can market their own businesses without breaking the bank. As a matter of fact, with the use of social media and search engines, promoting your own business has never been easier.
Social Media Ads
With even just $100.00 on social media you can drum up a lot of business and brand awareness in your local area. Social ads can target your specific demographic, which leads to relatively low cost, but highly targeted leads. There are a lot of ways to set up social ad campaigns, so it may take some playing around with to find the campaign settings that give you the best ROI. The good news is that because the results are almost immediate, you can react quickly to how your ads are performing and adjust the ad campaign as need be.
Google Local Optimization
Google My Business is a terrific tool for local companies. It provides a free Google Map listing that you can upload your information to, along with photos and posts. You can also have clients and customer leave reviews for your business, which can help to promote good customer service. It is important to note here, that Google has a Local Business Algorithm that they use to determine how high your site ranks in the maps. It is important to keep your information up to date and to stay active on the account in order to increase your ranking.
Local Business Directories
Another opportunity for small local businesses to market themselves is to submit their websites to local business directories. Often these directory listings are free, or at least very affordable, and provide their own marketing to help drive traffic through to their listed companies. Do some research on these directories, find out what they offer for their listings, what marketing they do, and of course the cost involved.
When marketing your own small business, it is important to stay on top of your marketing. Keep a close eye on your website statistics, ask people where they found your business, and use that information to learn where your best ROI is and then tailor your marketing budget to that. There is a lot that goes into marketing a small business, but when you’re starting out it is important to do it right so that your business can prosper in the long run.