Smart Strategies For Small Business Growth

Smart Strategies for Small Business Growth

Many small businesses go through frequent cycles of feast and famine when it comes to customer demand. If you own and operate a small business, you’ll know exactly what that is. If you wonder – it’s mostly down to lack of marketing. In this article, I’m going to give you some smart strategies for small business growth.

Why small businesses struggle.

With family run businesses, this is a particular problem- especially here in Ireland. This week, you struggle to keep up, next week you might be desperately waiting on the phone to ring… Not only can it be a physically demanding, but it’s also a mental and financial struggle. It’s difficult to manage cash-flow with sudden peaks and troughs in demand. And cash-flow is the life blood of any business.

So why do small businesses struggle more than larger? Lack of marketing is one of the key reasons. Marketing is the activity that creates customer demand. That sounds pretty important – doesn’t it?

 smart strategies for small business growth

So, if marketing is so important, why don’t small businesses do more of it?  After all, getting customers is pretty much a key part of running a business.

There are a few reasons, but here are the big ones:

  • Lack of understanding of the need for marketing
  • Lack of marketing skills
  • The owners have the belief that if they are good at their trade and provide good service – the customers will come.

Most small businesses were created by the owner – who is or was the doer of the service. Lets take an electrician or plumber as an example. The owner served their time in their trade. they learned their “tool” skills and at some point, they left their employer and went out on their own. The reason given by many, is that they wanted to make more money.

Where does it all go wrong for them?

It starts with the belief that if they do better work than their competition and provide a better service, or lower price – they’ll get customers. Many truly believe this, and think that marketing is only for big businesses.

They also lack any helpful skills or knowledge about marketing. Many believe that marketing is just advertising. Many will become advertising victims, because they’ll buy advertising space without really knowing what to do with it. Often there will be poor or no returns on their advertising spend, and they’ll blame the marketing for failing and declare it a waste of money.

So what is the answer to this problem?

You should start with some smart strategies for small business growth. Specifically marketing strategies.

At the very least, you need a marketing strategy for getting new customers for the business. Not tactics, but a strategy. That means identifying who your ideal customer is, where they are and how you will attract them.

Another strategy that you should have is a referral strategy. This replaces the random word-of-mouth that you previously relies on.

There should be more – but these two are the bare bone essentials. The strategies will determine what tactics you should use and how much you can and should send to attract a customer.

The very mention of the words marketing strategy is enough to give many small business owners the shakes. Don’t let that be the case for you.

If you’d like more information on creating your smart strategies for small business growth, drop me a line at Adrian@FMBIreland.com

Why me? I’m a small business marketing expert in Ireland. I’m certified consultant within the famous Duct Tape Marketing Network. On top of that, I’ve owned and operated several successful construction businesses for the past 20 years.

Go ahead and contact me to arrange a free, no obligation chat about how you could use a little marketing to help grow your business. Adrian@FMBIreland.com

 

Small business marketing to make more money

Small business marketing to make more money

You may think that marketing is a waste of time and a load of B.S.? If you do, you aren’t on your own. In fact, most tradesmen and small building companies feel that way. Regardless of what you think. I’m gonna telly you why you need small business marketing to make more money.

So go ahead, have a little smile. You’re part of a big gang. And sure, ignorance is bliss….

I don’t mean that as a jibe or insult – definitely not. In your world, marketing means advertising – and you’ve gotten nothing out of advertising. It’s been a complete waste of your money to now – so why waste any more on it? I agree completely. Most advertising that small, local businesses do, if a complete waste of money. Want to know why? Because you were sold a pup!

The truth is that you’ve been a victim of the advertising salesperson. And they aren’t bad people. It’s their job to sell advertising space – not to make it work for you. They’ll sell you a 1/4 page for €500 or a credit card sized ad for €120 (or whatever). They don’t care what you put in that space.

More than often – to get you on board in their paper – they offer to create an advert for you. They have graphic designers in the paper who will create the advert for you for free. A nice little bonus for you, if you buy the space from them! Or so you think…. You’ve just become their next victim!

To be fair to the graphic designers, they know their trade. They’re probably good are creating nice looking layouts in the paper. But they’re terrible at creating adverts. Woeful. When it comes to creating adverts that make money get the phone to rng or the door to swing – they’re useless. And it’s not their fault. It’s not their job.

Seriously. It isn’t their job. It’s yours. It’s up to you to take responsibility for it. But hardly anyone in business realises that. They think that because they’re paying for the space – that the space will bring them customers. For most – it might as well be an empty space.

So enough of that..

Why you need small business marketing to make more money.

You can’t grow a business without getting more customers. A constant flow of new enquiries and customers is a must.

Most tradesmen and small builders think they can rely on word-of-mouth to keep the lights on. As much as word-of -mouth is a good way  of getting customers – it’s not reliable. Or at least it’s not reliable in the way that most businesses use it. You need to do some real marketing. even a little bit will be more than your competition is doing. You need to be doing something. Even a few activities of small business marketing to make more money.

Here’s a few things that will help you.

  • Have a decent website that’s ranked on google
  • Have a referral network
  • Have a managed referral system
  • Pay per click advertising
  • Display advertising
  • Direct response advertising
  • A loyalty scheme
  • Manage repeat business
  • Video marketing
  • Direct mail
  • Neighbourhood marketing
  • Email marketing
  • Retargeting advertising campaigns

Some of these will require that you spend a little money. Some are free. All require a little effort and a bit of thought.

Here’s a little rule of thumb. The more that it costs to use – the better the returns will be. If you spend money – you make money – if you do it right. Free is not usually the best. Free is what everyone else does – if they do anything.

Before you do anything – you should look at what everyone else around you does – and think about what you can do differently.

If you want to have a chat about how you can do some small business marketing to make more money, then give me a call for a free chat and advice.

Call us on 01-4851177 or email me at Adrian@FMBIreland.com

Bye for now