Starting a small business is never easy. From managing your start-up costs to refining your products or service options and understanding your audience, to cultivating a loyal customer base, it's easy to get overwhelmed from day one. And if you're in a competitive business niche, you must learn how to market your business to dominate and win.
If you want to increase your business influence, impact and income, you must figure out how to thrive in today's competitive business market. That is a core strength for any small business owner. You need to develop a marketing plan from scratch, enter your business market and take it over to thrive and win. Ready to get started?
Here's what you should do:
Have Deep Knowledge of Your Target Audience
The deeper your understanding of the people in your business market, the easier it becomes to serve them the right product or offer quality services. For small businesses, success in entering new markets and dominating only comes when you spend your time, money and resources to know your product or service target audience.
That is critical so that you provide solutions that suit them based on the customer information you have. You must have the edge over your competitors in customer information. Remember that not everyone is your target customer. Use available tools for identifying the ideal target audience to help you build a strong brand.
Develop a Strong Brand
It doesn't matter how your small business is - professional branding matters. That is especially important when you're doing business in a niche market. Let your potential customers know exactly who you are, what you do and what solutions you have for their needs or problems. Think of those unique things that make your brand stand out as soon as they hear your business name.
What makes your brand special? Do you have the best customer service? What about service options and pricing? Maybe you have the best prices. Capitalize on what makes you stand out from the rest in your marketing strategies. Make a point of comparing the value of your brand against that of your competitors with consistent messaging.
Find a Gap and Fill It
There's always a gap in your industry. It could be a marketing niche that your industry has ignored, a pricing gap, or a gap in the level of service provided. There are simple strategies to do this:
Evaluate what your competitors are offering and differentiate yourself
Elicit feedback from your customers and take action
Think beyond local and look for opportunities to expand
Adapt an existing service or product to capture new customers
Hire outside resources to perform market research and identify potential opportunities
Identifying a market gap could be the difference between an impressive product or service launch or great flop. Just look for the existing vacuum in your business industry and fill it. Then market your brand widely.
Become an Influencer in Your Industry
More businesses are reaching out to influencers to help them draw more traffic to their business. But have you thought of becoming an influencer yourself? Influencers get all kinds of exclusive opportunities and free exposure. Imagine what that would do for your business. It's simpler than you think. The secret lies in putting out consistent marketing content in your business expertise area, where you share your best advice.
For instance, Shanté R. Roddy, a women digital marketing coach behind She Boss Talk, offers a platform that promotes women in business. Her goal is to help women increase their influence, impact and income. She shares business insights and hosts a weekly podcast that focuses on matters of women entrepreneurship. Taking such an approach works great.
You can share what you've learned in your business, share expert insights and even invite other influencers to speak out over Facebook Live, YouTube and other social media platforms. Hosting podcasts and webinars is another excellent way to effectively make yourself an industry authority. Of course, this is all content you can create yourself.
Create an Experience That Gets People Talking
Think of this - when you watch a good movie, you certainly don't go telling everyone about it. But if it was great, you don't hesitate to recommend it to friends. This marketing principle applies to all businesses in an industry. Don't make the mistake of trying to meet your market's expectations - it makes you forgettable. Focus on exceeding the expectations of your market so customers can keep talking about you.
Think of how you can create a unique story for your business. Is there anything you can do to generate excitement for your customers or clients? What can you give them to take home to ensure they remember your business and make them share the experience with others? Find that answer that gets people talking, and you'll have the solution to dominate and win.
Collaborate With Other Businesses to Thrive and Win
In today's competitive business market, collaborating with other businesses may be your best bet. If collaborating gives you a better chance to thrive and win, reach a broader target market, or get better opportunities, then embrace it. What matters most is that the collaborating brands don't affect each other's core business.
You'll want to create alliances that develop a competitive advantage over other players in the market. Business partnerships are fantastic tools to venture into new business markets and achieve far more than the capacity you would reach on your own. They help you get deeper market penetrations that end up making profits for both businesses.
Get Analytical With Your Practices
Experimentation is one thing, and a necessary step when marketing your small business, but how will you measure progress and success? The solution lies in business analytics. Even for small businesses, using business analytics tools gives you an unbeatable edge over the competition. You can easily see your progress and change strategies.
Getting analytical with your business and marketing practices is key to reinventing yourself when business is not performing well. It helps you identify your strengths and weaknesses and learn about problems before becoming a hindrance to business operations. Thanks to digital advancements, big data analytics for small businesses is now an option.
Time to Focus on Growing Your Business
When it comes to marketing your business to dominate and win, it's all about being more strategic in your practices. What are you doing to grow your business? Take these steps:
Think of one or two things you can do to increase your brand's visibility right away, such as through social media
Identify new opportunities for generating more revenue
Facilitate customer feedback sessions to validate and invalidate market place perceptions
Ensure that your brand messaging is consistent across all platforms
Outsource tasks where possible to save time and ensure efficiency - tools like Fiverr make it easy to find professional remote workers
Dominating your business market can make you an industry leader and help you achieve more success. Small businesses need great marketing strategies and competitive advantages to thrive and grow continuously. Improve your service options and products before your competitors do and follow these steps to drive change in your business and income.
Get Help With Digital Marketing
Need help with your digital marketing strategy for your small business? Get started at She Boss Talk today. We manage a team of experts who help women market themselves and their brands boldly and fiercely to achieve greater reach, impact, results and make more money with a success team and access to the She Boss Network.
We lead an online community of over 25,000 women in business, facilitating several initiatives and events to bring us together, break barriers and create opportunities for collaboration and success. Ready to market your business to dominate and win? Contact us today.