Marketing can have a litany of benefits if done well, and harmful consequences if done poorly. We share 5 important marketing challenges that affect businesses.
Is your small business struggling to get the attention it deserves? You're far from alone.
There are over 1.5 billion websites live today. If you're not making the most of every marketing opportunity, you're sure to get lost in the search results.
Curious to know if you're committing one of the cardinal sins of modern marketing? Here are five of the biggest marketing challenges small businesses face.
1. Brand Development
Today's business owners face more competition than ever before. To get attention, a company needs to stand out.
That's where branding comes into play. Branding is so much more than a buzzword.
It's a way to differentiate yourself from your competition and stand out in an increasingly crowded field.
Proper brand development works in conjunction with a marketing plan. It uses intricate data to help companies come up with an image and tone that is sure to resonate with their audience.
Unfortunately, a lot of small business in Maryland forego brand development altogether.
2. Local Competition
Did you know that search engines prioritize local results? If not, you might need to reassess your SEO strategy.
The bulk of your competition doesn't come from global companies in your field -- but companies closer to home.
Don't make the same mistake that countless businesses make. Beef up your local SEO game before it's too late.
3. Audience Retention
Let's say you have your customer base's attention. Now what?
If you can't keep it, you've just wasted a ton of money.
Research shows that acquiring a new customer is anywhere from five to 25 times more expensive than retaining an old one.
New customers are great. But the repeat customers will keep you in business.
4. A Strong Web Presence
One of the biggest mistakes that small businesses make time and time again is ignoring their website in favor of social media.
That's not to say that social media isn't important. In fact, on the contrary, it can be a great way to generate leads and boost local awareness.
But don't forget to build a great website, too. Yes, even small businesses need websites.
They drive your sales funnel, add credibility, and can help you generate more data on your customers.
So go ahead and pour your heart and soul into your Facebook page. Just don't forget about your website.
5. Sales Funnel Struggles
Whether you're operating a brick and mortar store or an eCommerce shop, all marketing shares the same goal: making a sale.
Much of the outcome of a potential sale comes down to the effectiveness of your sales funnel.
The easier and more streamlined the purchasing process is, the likelier a customer is to complete a transaction.
Likewise, make sure to include a strong call to action on your homepage, on all social media posts, and at the end of all content. If you're not telling customers what step to take next, your sales funnel more or less falls apart.
Don't Let These Marketing Challenges Affect Your Small Business in Maryland
If there's a silver lining to these marketing challenges, it's that they're easy to overcome. It's never too late to get your Maryland business back on track!
If you'd like to learn about improving your marketing, SOMD Connect & Associates would love to hear from you. Contact us today and let's find a way to crush your competition together.