Variety is key when it comes to small business marketing

6/13/2011

For the first time since the onset of the economic recession, small business owners are in a position to begin to grow and expand their companies. Thanks to slight improvements in small business lending, entrepreneurs also have the financing to accomplish their goals. It's when deciding the best route to accomplish this objective that small company owners begin to struggle. Hiring more employees, ramping up production, investing in new equipment - there is more than one way to skin the proverbial cat.

According to a recent survey conducted by FedEx, one of the most common strategies to grow a business is through marketing and advertising. The idea is to generate product awareness among consumers, who are slowly returning to their pre-recession shopping habits. As many as 55 percent of entrepreneurs are expecting to invest in marketing this year, compared to the 42 percent who considered doing the same in 2010.

Still, launching effective marketing channels can be difficult. Nearly one-quarter of respondents (23 percent) said they did not believe their marketing materials accurately represented their products and services. Meanwhile, there was also some ambiguity when it comes to budgeting marketing - they either felt they were spending too much or too little.

Using a variety of marketing channels to maximize reach and budgets

The key is to use a variety of marketing channels to generate awareness while also saving money. For example, paid search may be the most effective way of reaching consumers but it is also one of the most expensive. Conversely, social media is relatively inexpensive, though it's limited to only the people who are registered members. By investing money into both, entrepreneurs can stretch their budgets while reaching diverse audiences.

American Express OPEN Forum recently offered some suggestions to small business owners looking to leverage a number of different promotional mediums.

First and foremost, it suggests optimizing website content for specific keywords. Perhaps the easiest way to do this for novice website owners is to simply write engaging blog posts that use these terms. "You're not likely to win strong ranking for more than one or two search terms at once, so minimalism is a virtue here … Focus on one potential search term, then if you want to rank for a second term, write a separate and unique post specifically with it in mind," the source writes.

Building links can also improve both search optimization and a company's social standing. By linking to the blogs or social profiles of other major industry thought leaders, entrepreneurs may be able to generate more incoming links of their own, thereby helping to improve results. Social bookmarking websites, such as Reddit or Digg, are vital to finding these thought leaders.

When it comes to social media, sharing - both with consumers and thought leaders - is integral to success. "As you participate in these channels, though, remember that the key is sharing. On Twitter, for example, you should expect to retweet others if you want them to retweet you. And even when you’re posting your own update on Twitter or Facebook, there should still be something in it for the reader," notes the source.

Regardless of which channels a small business owner chooses, integration is key. By cross-promoting different marketing efforts, entrepreneurs will ensure they are maximizing their reach. For example, a company's Facebook page should link to its blog and provide consumers with a sign-up field for its email newsletter. Similarly, a blog should link to the Facebook page and include the same field for email.