Ask any small business owner about the marketing challenges he faces and the list will be endless. Let’s face it – we live in a world that is not very friendly to small businesses. In the battle among the fittest, it is often the established and big brands that win.
The only way for small businesses to move ahead is to plan their marketing wisely. But it isn’t as simple as it sounds. Featured below are 5 marketing challenges faced by small businesses around the world:
1. Inadequate funds for a satisfactory marketing campaign
Most small businesses do not have the financial resources to spend on marketing campaigns such as TV or print ads. And even if they did, there is no guarantee of gaining any quality returns. Small businesses should plan their marketing campaigns strategically by introducing quality giveaways that can reach out to target audiences.
2. Inability to retain customers
The biggest problem when dealing with customers is the inability to retain them for long periods. It is time to take positive steps to engage customers in a fruitful manner. Start membership programs or launch your site on social media networks to engage customers tactically.
3. Teaming up with the wrong partner
Small businesses are often run by multiple partners. At times, you and your partner could share a different vision. In such a scenario, it becomes difficult to take the company forward. You will need to have a straightforward chat with your partner regarding the future of your company. Try your best to iron out differences. If nothing works out, move ahead without him and find a new partner.
4. Lack of knowledge about your offerings
You probably sell the best pen in the world! But what use is it if your target audience barely knows about it? Prepare documentation about your offerings. Showcase them in a creative manner and make sure people take note of it! Trumpet your offerings on social media sites or use giveaways to introduce them.
5. Inability to find the right talent
Small businesses often struggle to find the right talent. This is mainly because experienced candidates do not come cheap. So these companies hire inferior candidates who do not have the right credentials to boost a business. The only solution is to prepare quality training programs that can equip inexperienced candidates with the right know-how to take on the job.
Do these challenges sound familiar? Do you have a marketing challenge to share with us? Share your comments in the box below!
About Author:
Gary Taylr is a marketing consultant and works with the creative team at Promo Direct to boost sales. He is a regular participant in discussions related to business and marketing. He loves exchanging ideas and connecting with like-minded people. Gary can be followed on Google+ and Twitter.
