Friday, 23 February 2018

Information and commentary for the small business banking industry

Marketing strategy tips for the new year

14 Nov

It’s time to get the word out for 2017! It might be stating the obvious, but effective marketing begins and ends with awareness. Keeping a business’s brand front of mind for their customers is the cornerstone of what good marketing’s about. And it doesn’t need to cost the earth either. There are lots of ways to increase awareness and successfully market a business on a shoestring, which will of course help increase profit margins.

Getting to know customers is an essential first step. The more a business knows about its customers and their needs and wants, the better their chances of selling more goods and services to them and of finding more customers like them. Word of mouth is one of the best, most effective and cheapest ways to gain more customers.

One of the best ways to promote a brand is for the business owner to become an expert in their field. Attending events related to the business and offering to speak at them is a good start. Lecture at trade shows and volunteer at community events, or organize their own event. Not only will they be promoting their business, they’ll also be establishing valuable networking contacts.

Remember that when all is said and done, word of mouth is still the best way to increase a customer base. And it doesn’t happen automatically. Make sure that everything in the business achieves excellence, and that they’re going the extra mile for their customers.

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