Setting up a business is a tempting idea for some people, whether on a small or large scale. In building a business, the right marketing strategy is needed so that your business can grow and continue to turn a profit. In addition, you also have to adjust to your budget. If you don’t have too much budget, you might be better off opening a small business before finally making your business a large-scale business.
In marketing products, there is a term known as marketing costs. In a narrow sense, marketing costs are costs incurred to sell or bring products to the market. This cost must be calculated because it will affect the cost of goods sold. Examples of marketing costs are advertising costs, maintenance costs, salaries of salesmen, commissions, warehouse rentals, and others. Usually, the greater the business that you manage, the greater the costs incurred. What about small businesses? Can marketing costs be reduced or even eliminated?
With a small capital, that does not mean your choices are limited. There are many types of businesses that you can run with capital that is not so large. Of course, the help of internet technology will play a big role in your business. Marketing techniques you can do through social media, so you don’t need to open a physical store to sell your products. This can minimize the costs involved if you are just building a business.
Even if you open a business with small capital, you will want to expand your business to a larger scale. Here is a marketing strategy quoted from Moneysmart that you can use to grow your business.
1. Build a Strong Brand
Branding is one of the crucial things that you need to build from the start of a business. Even though the business you started is still on a small scale, you have to start building a good image and increasing brand awareness so that people are aware of the business you are starting, starting from introducing a brand identity to prospective buyers through social media like Instagram or Facebook.
The brand identity that is built must contain information regarding what is being sold, what your business goals are, and what your business competition is like. Tell potential buyers the strengths that exist in your business, and also give reasons why potential buyers should buy your product.
Not to forget, you also need to make something unique and different from competitors’ efforts. It aims to attract potential buyers and increase customer loyalty because the brand is not just about logos and taglines, but also how customers see your business as a trusted brand.
2. Make an Interesting Logo
If you have a good brand image, it’s good if the logo that represents your brand is also good and attractive. Because after all, the logo created will be very attached to your business identity. The logo must be interesting and contain meaning that can represent your business.
You can ask for help freelance graphic designer services for consultations about the logo because graphic design is certainly more familiar with making logos. Discuss how the logo fits in with your business, and make a distinctive logo with attractive colors. With an attractive logo, prospective buyers will automatically be interested in finding out what products you offer.
3. Writing Content as a Marketing Strategy
The internet is one of the most appropriate ways of implementing marketing strategies in your business, especially if the business you are building is a small business. Through the internet, you can build brand awareness about your business, as well as to promote the products you sell.
One way is to write a blog on community sites in an interesting way, then include your business link. This method is the most inexpensive and effective marketing strategy. You can start writing content about your business through community forums, or starting from social media such as Facebook, Twitter, or Instagram. You can do it yourself or hire a freelance content writer to write your products in online forums.
4. Use Facebook Ads
Until now, social media is still the most effective container for developing your business market. One social media that you can use is Facebook. Facebook users in Indonesia alone is the 4th largest in the world, reaching 130 million people. Create an account for your business on Facebook so that you can show the products you offer to potential buyers. In order for your business page to get a lot of attention from Facebook users, it’s good if you use Facebook Ads.
Facebook Ads are a feature that allows your business profile to be displayed on other users’ account pages. If you use this feature, the opportunity to get customers becomes greater, because of the many Facebook users who can be reached with this feature. The disadvantage is that you have to pay a fee adjusted to the number of clicks and page views, so you need to prepare a separate budget to use Facebook Ads.
5. Do Market Research
Market trends are always changing, making you have to be diligent in doing small-scale research. The goal is that you can understand customer satisfaction with your product, and to find out trends that are being liked by the market. That way, you become equipped to determine the direction of the business going forward.
Every business certainly has different market characteristics, so it’s very important for you to do this market research. After knowing the trends favored by the market, of course, it will be easier to determine the strategy and content marketing going forward so that every marketing strategy that you release can be right on target. The final goal remains the same, namely that you will not lose out in competition with similar businesses.
6. Take advantage of Social Media
Not only from Facebook, but you can use any social media platform to maximize your business marketing strategy. Lots of social media platforms that you can use as a promotional tool, like Instagram, Twitter, and even YouTube.
Until now, Instagram is the most effective platform to promote your business. With Instagram, you can easily show your product with photos uploaded to your account and use hashtags to be seen by many people. Don’t forget to include a clear caption about your product and complete information so that potential buyers don’t have to ask lots of questions.
This platform has proven to be a very effective and inexpensive marketing tool for small businesses. If you want to increase awareness, you can use Instagram Ads so that your product appears in other user’s feeds, but this feature is a paid feature.
7. Evaluate Your Business
Evaluating your business is also one marketing strategy that you need to do regularly. It aims to observe the flow of business, whether there is a decrease or increase. Don’t forget to always provide an evaluation with reports that have been made during the year. Reporting is one way to conduct an effective evaluation.
If there is a decline, you should immediately find a new way to become a marketing strategy that will be used. If there is an increase, you should also find out what the market really likes so you can maximize it. This should be done routinely to keep your business running as expected.
Marketing strategy is indeed an important thing to do. One important thing that also needs to be considered in building a business is financial flows. With time, financial problems are no longer done manually. Now, there are many accounting software that you can use to simplify your business’s financial affairs, one of which is Journal.
With a cloud-based system, you can access Journals anywhere and anytime. In addition, various features, such as creating financial reports, invoicing, and asset management, will help you in carrying out financial affairs in your business. Find out various other features that you can get here.