Have you ever realized that you hardly ever see an advert for a small business on TV? I recently started to notice that. Being a marketing professional, it was easy to find out why. Speaking to local businesses made it clear that most had misconceptions about marketing. I spend a lot of time watching my Contour TV, but I have yet to find an advert for local businesses. And I started to wonder why that is. They assumed that since they were small, and didn’t have big budgets, they couldn’t market themselves. So they never even tried.
Can Small Businesses Market Themselves?
Without a doubt, they can. Though traditional marketing strategies might be a little more challenging. Online marketing has developed to even the playing field between larger companies. Most people think that like traditional marketing, online marketing also requires huge budgets. But that is far from the truth.
Smaller budgets can sometimes lead to more marketing success. You need to have a solid strategy. And it doesn’t even matter if you aren’t a marketing wiz. Because you can always hire marketing professionals to design you a strategy. They don’t even charge you as much. Unlike traditional marketing professionals.
You can also cut costs by hiring out of country services. Since online marketing strategies can execute and run from anywhere. So you can find cheaper companies abroad, and liaise with them via things like Skype. And with remote collaboration platforms, you can also oversee their execution.
5 Marketing Misconceptions You Might Have
As a small business, you might feel overwhelmed competing with larger corporations. But you need not be. No doubt, some marketing strategies only work at a certain level of success. But you have something that these larger corporations don’t. You are small and that means your marketing strategies can be more flexible.
- Marketing Agencies Prefer Larger Corporations
- Traditional Marketing is More Effective
- Video Advertising is Expensive
- SEO Strategies Aren’t For You
- You Have Enough Online Presence
#1. Marketing Agencies Prefer Larger Corporations
You might be under the impression that marketing agencies prefer larger clients. But that is not entirely true. Most companies prefer larger clients because it is more favorable for their portfolio. But in terms of workload, most companies will always prefer working with smaller clients. Why?
Because a smaller client can allow more freedom to work and be creative. Because at the end of the day, creativity is key for your online marketing success. And larger corporations have to worry about legality issues and brand image. So marketers have to strategize around a lot of red tape.
#2. Traditional Marketing is More Effective
Some small business owners still believe that traditional marketing is more effective. Even though, in today’s market environment, the opposite is true. Not only is traditional marketing over-rated, but it is still considerably more expensive. Can you imagine what a budget of $2000 would get you in traditional marketing?
Probably less than you can think of. It might not be enough to get you a meeting with a decent agency. But the same budget spent on online marketing strategies can get you quite a bit of coverage.
#3. Video Advertising is Expensive
This misconception is not entirely false. Online video advertising can be as expensive as you want it to be. But it doesn’t have to. Platforms like YouTube have allowed for really cheap video advertising budgets. Traditionally, you would buy TV slots for video advertisements, but not anymore.
Studies also show that online video adverts are more effective in converting leads. Additionally, production costs for online adverts can be lowered to fit your budgets. If you wanted, your production budget could be next to nil.
#4. SEO Strategies Aren’t For You
Another popular misconception is that SEO strategies are for larger corporations. That is not true. Google’s latest algorithm updates are favoring smaller businesses more. Especially for local searches. So you can feel free to start a blog on your website and start generating content.
The more you write, the better it is for your SEO strategy. Which, incidentally, might not cost as much as you think. You can outsource your SEO to other countries like Pakistan or India. These services are much cheaper there than in the US.
#5. You Have Enough Online Presence
So you have a Facebook page with daily postings. And you’re registered with Google Business. While you might think that it gives you substantial online presence, it does not. The online market is much more competitive than you think. And the golden rule of online presence is that there can never be enough of it.
Like faster internet speeds changed the way we use the internet and connected devices. Online marketing has revolutionized the way we advertise. It will be interesting to see how faster internet will affect online marketing. I, for one, can’t wait to check my Cox internet speed test results when 5G technology gets implemented. Perhaps 5G technology will allow marketers to even create VR advertisements!