Marketing Rules for Small and Medium Businesses

Marketing Rules for Small and Medium Businesses

To the owners of small and medium-sized businesses, the contemporary marketing universe may seem like the celestial variety: unfathomably vast, dauntingly limitless and impossible to grasp, let alone master.

Come on: let’s return to the terrestrial plain, where all we really need is a good checklist.

The first problem is our old fiend/friend, the law of diminishing returns. A marketing strategy can easily reach a point where it costs more than it produces. Worse, it can cause damage. We’ll wager than everyone has had the experience of buying product or service, only to suffer a daily or even hourly advertising barrage from the provider, entirely unbidden and limitlessly annoying. The result is disgust, not increased business. You wonder how such mistakes can be made.

Then there’s the 80/20 rule: the lion’s share of your business results from 20% of your marketing effort. The principle is simple: don’t spread yourself too thin. Many companies think they need an active presence on all popular social media platforms. This may be wrong: your customers may simply not be present on certain sites. Analyze your data carefully and pull back from any efforts that aren’t bearing fruit.

With these principles in mind, we can get specific. First: manage your content. It’s astonishing how much redundancy and empty verbiage is present online. Learn to focus your message on essentials. Don’t repeat boilerplate found in a million other sources or commonplaces that everyone knows. Keep it brief. Just the facts (and a few flowers), ma’am.

Next, consider how often you should post. Every day? Every hour? Reflect on your own online experiences: how much is too much? Analyzing the performance of your online platforms should provide the keys for determining a just-right solution.

Finally, look at your ad spending. This is where the 80/20 rule shines: if a campaign or platform ain’t producing, cease spending. You may find that less ad spend, focused on the best-performing channels, gives the best results.

For more information, please read:
SMBs: Simplify Your Marketing Strategies To Scale Your Success | Forbes

 

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