Are you the proud owner of a startup or a budding entrepreneur who is taking the baby steps towards his dreams of becoming one of the iconic names in the list of Fortune 500s. You have all the skills, knowledge and funds to survive in the present, but that is not enough if you want your business to thrive and grow by leaps and bounds. Gone are the days when planning for today was necessary; now you have to think about tomorrow before today if you want to be successful. And planning for the future means preparing yourself to change or rather evolve. Change is constant; every aspect of business of all the niches is evolving whether it is the hardcore operations, technology, marketing or branding. And if you fail to keep with this evolution, you would fail to survive. It is simply the Darwin theory: survival of the fittest and fittest is the one who changes according to the circumstances.
According to the CEO and founder of Influence & Co., John Hall, “Like it or not, your industry is changing. Everything changes; it always has, and it always will. You can keep up with and be part of the change, or you can overlook and ignore changes and let others pass you by.” And as each year is passing by, this quote seems so relevant when the technology, employees, marketing trends and strategies, everything is changing. Every year, the business landscape is different from the previous year’s. According to the Reuters report, the field of predictive analytics is projected to rise from $3.89 billion in 2016 to $14.95 billion in the year 2023. Well, that is an increase of 11 billion dollars in a mere span of not even a decade. And as we are moving forward in the year 2018, there are numerous strategies and tactics that you need to keep on your radar and one of the most important among all these is the marketing strategies.
If you are a small company, then your marketing strategies are going to be different as compared to the big organizations. But that doesn’t mean you are not touched by the change in the trends. And if you don’t alter these tactics accordingly, you would slowly get stagnated and the business would go stale. Well, this is the last thing that you would want for your business. That’s why to help you out, we have conglomerated a list of the trending marketing strategies that you, as a small business, should definitely follow.
- Boost the Customer/User Experience
Whenever the word UX or user experience pops up, we think about web design, but here it is used in a wider aspect, though the concept remains similar as to provide the users the best experience. Talking about the customer experience or CX, it involves every minute points. The various ways of enhancing CX involve:
- Make your staff, customer friendly. No matter what, ask them to put the customers first. It also includes a friendly and warm attitude and delivering the accurate information.
- Go for feedbacks on a regular basis. This can be easily done through the website or by passing hard copies of the survey to the customers who visit your ‘brick and mortar’ facility.
- Make sure that there is highly active user engagement through the various social media platforms.
- Go for Location Based Marketing
Location based marketing is one of the many benefits of mobile marketing. If you are a local business owner, then with the location based marketing, which involves the use of GPS, you can easily target the customers according to their current location. But before opting for this strategy, ensure that you have due permission from your customers. In this way, when they are close to your business or your competitor’s, a relevant message can be sent to convince them to visit you. Send them promotion or discount messages when they are in your store to boost the sales.
- Turn Your Competitors into Teachers
If you have landed up in a messy situation and feel like nothing is working for your brand, then take a look at your competitors and what they are doing to target their customers. For instance, if you are still on with the cold calling, then add a twist to it by sending a promotional product as a gift to the individuals who have a slight inclination towards your brand. If you find your competitors replying to the every comment they get on Facebook, start doing the same and see the changes in the sales stats.
- Get Out of the Brick and Mortar Store
Doesn’t matter if you have a home-based business, just the online presence or a brick mortar store, the customers want to see you out. It not only helps to strengthen the bond that you have with your present clients, but also offers an amazing opportunity to walk in the vision of the prospective clients. In other words, sometimes it becomes important to go to the customers rather waiting for them to approach you. This can be done by becoming a part of the various local events and the selection of these events is entirely based upon the services or products that you are dealing in. For example, if you have a home-based business of baked products, then the perfect event for you would be the organic markets or the annual fair of your town.
- Become the Local Expert
One of the most efficient, out-of-the-box marketing strategy for small businesses, such as yours is to position yourself as the local expert of the specific service or product. This is one marketing tactic that doesn’t involve huge capital investment and would reap results even in the long run. All you need to do is to update yourself regarding the particular area and find a local group that shares the same interest. Attend their meetings and conferences and show off your knowledge about the specific service. For example, if you offer legal service for civil cases, then you can conduct workshops for the same.
Apart from these, there are several other tactics that are surely going to help you to derive the desired results from your marketing strategies. Collect more and in depth data, go for personalized marketing, use micro marketing and keep yourself updated not only with the latest trends, but also with the perspective of your targeted audience. In other words, think about the customer and how would you like to be approached and what would convince you to go for a specific brand.
With that being said, these are some of the predicted marketing trends that are going to explode in 2018. But don’t just restrict yourself with these; you can brainstorm and devise your own strategies as no one knows about your business better than you. And always remember, every business is unique, thus, what is working for one, might not work for the other. All you need to do is to figure out the needs of your customers, devising appropriate marketing strategies to approach them, ensure the necessary follow up, wait for a year or two and see the spike in your revenue graphs.