When it comes to business, thinking big is the key to success but in economic reality, small business is the economic backbone in most industrialized nations. Some key statistics in 2 of the world’s largest economies indicate just how important and powerful the small business sector is:
- In the United States there 33.3 million small businesses for 2024
- 99.9% of all US businesses qualify as a small business
- 45.9% of the US workforce works for a small business
In the European Union, the dominance of smaller enterprise is very similar:
- 25 million small businesses exist in the EU
- 53% of the EU workforce is employed by a small business
One operational element that all these small businesses have in common is that the owner(s) will wear many hats within the business. Critical facets such as marketing, human resources, customer service and bookkeeping may be handled by just one or 2 people and keeping things running smoothly requires some advanced time management skills. Brand marketing should be prioritized at least once or twice a week and is an essential part of any small business to-do list. Here are some mainstream marketing areas that can kickstart any small business initiative or campaign.
The Business in the Local Market
Society is so wrapped up in technology that businesses sometimes lose sight of traditional ways to get their message across. A closer look at outward marketing presence should be part of any small business marketing strategy. Asking a few specific questions can easily identify marketing opportunities in the local market:
- How do people find my brand outside of the internet?
- Is my service area more urban or rural?
- What are the high foot and vehicle traffic hotspots?
- Are there community sponsorship or association opportunities that would fit my brand?
Media buys and sponsorship’s can be costly and small businesses must be hyper selective on how they spend their marketing dollars. Small business owners and managers should also consider in person networking opportunities which can be found through local business associations or chambers of commerce. Getting the business message across in group settings is a fast and low cost way to build brand presence within the businesses servicing area. Volunteering time and services within the community can also provide low or no cost ways to market the brand. Local brand marketing and analysis is another way for small business owners to gain an advantage in the community marketplace.
Social Media and Online Presence
No one can deny the impact the internet and social media platforms have had on how small businesses can market themselves. Recent statistics have suggested that usage of social media sites may be decreasing but small businesses can still benefit from building social media presence. Having a profile page or business page on the mainstay platforms such as Facebook and X (formerly Twitter) can provide a way to display important business information such as location and hours. Thes sites also provide easy ways for potential customers to reach out and engage with the business. Keeping profile pages up to date and fresh is a core task for any social media marketing initiative. Social media platforms also allow owners and managers to engage users by posting content and commenting on other content. Content marketing is another no and low cost way to build social media and online presence. Spending time creating SEO friendly content can create organic traffic to the businesses website and social media pages. Regularly optimizing and updating the business’s website and social media presence can provide another way for small businesses to build brand presence outside of localized boundaries.
Marketing Opportunities Inside the Business
Small businesses that are customer driven have marketing opportunities with every personal interaction. Even the smallest of organizations should have a well defined process and mission for customer service. The potential for word of mouth marketing comes directly from positive customer service experiences, driving the point home that each interaction is a marketing opportunity in itself. Customers have many ways to voice their thoughts and small businesses can take advantage of that by delivering those outstanding experiences. Processes like telephone and in person greetings can easily be optimized to increase brand messaging. Operations that have retail storefronts can also capitalize on internal marketing by improving visuals and traffic flow within the space. Daily walkthroughs by managers and owners is a must for any type of retail or bricks and mortar operation. For small businesses, efficient internal operations is essential to drive profitability and building a marketing culture within the business starts at the top.
The Bottom Line
The life of the small business owner is a busy one, usually working many roles to ensure smooth operations while driving growth. Marketing and brand presence is critical for small business growth as they do not have a ‘brand name’ to rely on. Building market presence requires consistent effort and input and establishing a defined routine for marketing will help small business owners tackle this important facet of the business. Smaller businesses can increase brand awareness through 3 distinct channels such as localized marketing, social media marketing and internal processes that elevate brand reputation. Prioritizing marketing tasks within regular weekly to-do lists and agendas will ensure that this very important business operation gets the attention it requires. Increasing brand presence and awareness is a critical component to driving sales and business growth in the short and long term.
Sources
https://www.forbes.com/advisor/business/small-business-statistics/
https://www.smallbizlabs.com/2008/08/european-small.html