A simple and comprehensive marketing plan for SMEs
As an SME, you do not have the deep pockets like the big companies or the venture backed start up to conduct aggressive marketing. What should you spend on with limited marketing budget yet generating revenue?
In the past few years, companies have began to emphasise on digital channels, however, they have gradually realised that online is not the only solution. Brands have to learn to leverage on omni-channel marketing, which is conducting both online and offline marketing to provide a synchronized consumer experience.
Before we began on marketing, let us first understand the funnel of marketing. The funnel is usually being broken down into: AICIEP
I understand that entrepreneurs are most concerned with sales, but it is usually at the bottom of the funnel. The purpose of your marketing is to pierce through the several layers of consideration before motivating your consumer to purchase it from you.
So as a new start up with limited budget, what can you do? What sales channel can you explore?
1. Digital – Social Media
As mentioned, digital is one of the key pillars, so no start up should ignore that. Leverage on the all-powerful facebook marketing if you have online presence. You can now start advertising on Facebook from as low as $5/day and set your own target audience. Most importantly, it allows you to track purchases, and also people’s interaction on your website.
2. Digital – PR
Lifestyle sites like honeycombs, Timeout are always looking for new things to feature to grow their online traffic. If you think you have something extraordinary, like the latest scented candle in town, pluck up the courage to pitch to the respective editors and you may just get a free feature!
3. Localised advertising
If you are running a business providing physical goods and services such as restaurant or a shop, advertise your business in your locality. Advertising in MRT or bus stops may be slightly expensive, but its definitely helpful for brand awareness, especially when you are willing to give promo codes. Alternatively, you can also do mail marketing – sending snail mails to the letterbox. Don’t underestimate the results that it generate!
4. Search Engine Optimisation
Never belittle the power of SEO. Consumers conduct their research before purchasing, so it helps when you optimize your website to be found on the first page of Google.
5. Get Reviews
Consumers now trust reviews more. So its always helpful to encourage your consumers to leave a sincere reviews behind, be it on Google, Facebook or other sites.
6. Reply to your reviews
Let other consumers know that you are a brand who cares and takes reviews seriously. When you reply to reviews on Google business, it would also help to bump up your SEO.
7. Social Media
Facebook Ads are important, so are your organic posting and social media management. Nowadays, consumers take a look at your feed before deciding if they should engage your services. So make sure you choose your filter, hash tags and share information relevant to your brand!
Are you gittery about your new start up? Unsure of which marketing channel to tap on? Aegis consultancy has been helping more than a 100 of start ups for the past 2 years. Let us help you so you can concentrate on other more important issues.
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