Why modern marketing is all about leverage
Gone are the days when businesses ‘dropped’ several thousand dollars on TV, radio and newspaper marketing.
And gone too are the times when big businesses dominated the marketplace and called all the shots.
Today, right now in 2015, start ups are growing faster in number than ever and they are demanding - and at the same time curating - a whole new marketing arena.
Limited by budget, start ups can’t afford to spend across ‘traditional’ marketing and hope that it works. They need lean marketing strategies that they can measure the results of in real time. And, if they’re not getting the ROI they want, they need to be able to change and refine these strategies fast.
Marketing for small businesses and start ups is all about leverage. How can you work with your supporters/followers/clients to grow your database? How can you leverage current news events to get your business exposure? What value can you provide your followers to turn them into ambassadors for you?
Think about businesses that share a similar audience to you but a non-competing product. How can you work with this business to offer value for their followers and in turn grow yours? Do you have a product or service you can offer a discount or giveaway of for their audience? Can you host an event together? Cross-promote each other on your websites or blogs?
What about other ways to get your business coverage? When issues in the news are relevant to your business, write a press release with findings from your own experience or run a survey with your audience and pitch the results to journalists. Assert yourself as an expert in your field and establish credibility so that journalists start to come to you.
And how can you share great value for your followers? Forget 'pushing' your products or services to them and instead think of how you can 'pull' them in. If you are in the service industry, share advice to help your followers with common issues or interests, or if you're in the product/retail industry, remember customer service and altruism herald huge customer loyalty.
What creative and lean ways can you experiment with to push your marketing and grow your business?
Want a second opinion on your ideas? Get in touch - we'd love to hear from you.