3 Marketing Challenges for Small Businesses (and How to Fix Them)
Though it’s a dream of many, the challenge of starting a small business is certainly real and takes careful planning. According to the U.S Bureau of Labor Statistics, 80% of small businesses go under by the 10th year.
But don't let this discourage you! There are actually plenty of ways to help small businesses take off, thanks to a smart marketing strategy. Here are 3 marketing challenges small businesses face and how to fix them.
The first challenge many small businesses run into is roping in loyal customers. This isn’t a new issue faced in the world of business, but it can be much more of a problem for a company that isn’t a household name.
Though casting a wide net may seem like a viable option in garnering the most customer interaction, it’s better to focus on the specific audience your small business is catering to and create one-of-a-kind content that speaks directly to that audience.
This is a method called ‘target marketing’ and is a procedure small businesses should consider, especially if they are selling a more niche item.
Building Brand Awareness
There are several ways small businesses can put the spotlight on their company. One option (that is free) is utilizing social media platforms. You don’t have to choose just one, but definitely consider your audience when deciding which social channels will benefit your business the most.
For example, if you are catering to an older demographic, consider promoting your business on Facebook. If you are looking to reach a younger crowd, TikTok may be the way to go.
Social channels are great because they allow you to promote posts, interact, and even build strong, lasting relationships with your customers. Social platforms also allow users to easily share/ spread your content so, your brand reaches a wider audience.
Hire People Who Care
A big edge small businesses have over large corporations is having people who really care about what they are trying to sell. An easy way to draw people into your small business is by hiring people who actually share the same passion for your company’s values.
If you are a small business selling sustainable fashion, it would be smart to hire someone who is knowledgeable on the cause and incorporates the values of the company into their own daily lives, rather than someone who will show up to work wearing a fast-fashion outfit.