Cost Effective SME Marketing Solutions

Posted by Hadraj Youssef On Wednesday, May 22, 2019 0 Comments
By Scott Russell


Small and medium sized enterprises need to have marketing strategies in order to grow and be part of the competition in the industry. Being a competitor means that the company is about to become a higher grossing enterprise that is in line with other prominent companies. To achieve this, they need marketing solutions Totowa NJ.

In marketing, this makes use of the four Ps which summarizes the key factors involved to create a popular brand. These are product, price, place, and promotion. By using these four, SMEs can spread awareness to customers and have influence on them. They should strategically do this at a place and time when market activity is high.

They need to understand that the workings of this business can be compared to games. One similarity is the need for structure, capital, and manpower in order to gain customers. However, the target market is not that big yet to earn them an increase in profits. So, they strive to understand the market and study its trends.

To create a more defined picture, we are going to use online business as example. In this digital age, people only have to browse the web for viewing the latest products in entertainment, food, and fashion. Most importantly, this business does not require much in terms of capital. Hence, they can take advantage of solutions that are cost effective for implementation.

First on the list is social media marketing. Every person in the planet has one or more social media accounts. They use this every day for catching up with friends and news happening around them. Through these, they are now able to reach into hundreds of customers daily in both local and international markets.

Second is hiring media and industry influencers. These are people who became popular due to the posts they did in social media. If they hire these people, they can easily have product promotions towards their followers. Know that they can refuse to endorse the company if they do not like the products.

Third, they need to entitle customers as brand ambassadors. Being a small company, this equates to not means of hiring prominent figures like actors as product endorsers. Hence, it is better to assign this to customers since they have an advantage of convincing people of their experience and reviews. As a result, product effectiveness is spread widely by word of mouth.

Fourth is creating an official website. Although a Facebook fan page also contains product information, most people would still prefer to check the website. This is because this has more contents that are all about the product and the company. Moreover, they can measure the website traffic they gained since its launch.

Fifth, they make use press release. Through them, potential customers are let known of product details. Note though that this solution is feasible only if they gained physical office, good reputation, and substantial profits. They can do this during product launch where their influencers, ambassadors, press, and partners get invited.




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