The success of your SME depends on many factors, from the quality of the product or service you offer, the attention to your customers or the work done by the members of your team. However, there is little point in meeting all these requirements if you do not invest in marketing to promote your company.
We do not doubt that word of mouth works, although it is not convenient to focus on a single strategy, and even less specifically on word of mouth as it takes time and is not always as effective as we might expect. It will depend on the sector you are operating in and the characteristics of your business. To advertise your SME, increase your sales or position yourself better, you must design and implement various promotion strategies.
The objective of these strategies is to let customers know more about your business, attract the attention of customers, and motivate them and induce them to buy your products or request your services. There are many types of strategies that you can put into practice; however, the techniques you select must focus on your target market so that the results are positive. To promote your company, you can develop various types of strategies related to the following activities:
- Advertising – It is one of the most direct and effective methods. It is about advertising in different media, such as the local press or radio. You can also advertise through the Internet, through pop up banner or pull up banner displays, social networks or sending your potential customers a personalised email, offering your services or inviting them to learn more about you; a very effective and economic strategy. Another method that you can put into practice is to attend and exhibit at fairs and provide prizes for local contests.
- Merchandising – A very useful strategy used in the commercial sector. Merchandising is based on the specific distribution of products or the use of posters and signs to highlight your company, and typically involves the design of advertising items, such as shirts, bags or games with your company’s logo.
- Sale promotion – These are activities that seek to stimulate sales immediately, so typically of a short duration. To achieve this end, various strategies can be launched such as promotions, offers, discount coupons, participation in raffles, or free sample gifts.
- Loyalty – Loyalty strategies are also a method to promote your company. These types of strategies are aimed at regular customers and are aimed at customer loyalty; that is, maintaining customers loyal to your company so they do not go to the competition. Providing a quality service, personalised attention, offering what they need and not disappointing them, are the best tactics you can put in place. However, there are other things that you must also offer: rewards for their loyalty and special discounts and promotions for being regular customers.
- Public relations – This consists of carrying out certain activities to improve your image, as perceived by your customers, suppliers or society in general. The most common strategies are sponsoring events, sports teams or contributions to certain non-governmental organisations (NGOs).
- Direct selling – This type of strategy is characterised by the marketing of your product being carried out directly to the consumer. Use commercial representatives to visit customers, show them the product, explain the service, and collect information about the needs of customers or seek new customers.
Isn’t it time you thought about how you can better promote your small business – to achieve greater growth in the future?