Sep 20, 2023
Marketing and sales play an important role in the success of every South African small business.
Without effective marketing and sales strategies a business will face challenges in attracting customers, generating revenue, and ultimately achieving sustainable growth.
One of the key functions of marketing and sales is to establish brand awareness, which is increasingly crucial in today’s highly competitive business environment. According to Hubspot, brand awareness refers to the familiarity and recognition your target audience has with your brand. It holds value when selling your company and products. This is because it’s easier for your target audience to make a purchase when they recognise your brand, products, or services.
Developing brand awareness requires a multifaceted approach, often involving marketing on multiple fronts at the same time. Some ideas business owners can consider are advertising, which not only educates the public about their offerings but also gives their brand a personality. Word-of-mouth marketing is another powerful tool, as satisfied customers share their positive experiences with friends and family. Additionally, events and social media platforms can be leveraged to expand brand awareness. Furthermore, companies now have the opportunity to promote and advertise themselves through content marketing on their own platforms.
By implementing comprehensive brand awareness strategies across multiple channels, small businesses can establish a strong presence in the market and effectively promote their offerings to a wider audience.
The power of digital marketing for small businesses
In today’s digital age, it is important for businesses to establish an online presence since that’s where their customers are. Digital marketing has emerged as the most affordable and effective way for businesses to boost brand awareness and generate sales online. It offers many benefits to businesses, as shown in research conducted by Adobe , which revealed that companies implementing digital marketing strategies experienced a notable 50% increase in sales.
By leveraging various digital channels such as email, social media and online advertising, businesses can not only promote their specific products or services, but also directly target customers interested in their offering. Using these methods, businesses are also able to engage with existing customers for repeat business or the opportunity to upsell.
To assist small businesses in improving their sales and marketing strategies, below is a comprehensive guide for how small businesses can generate leads, cultivate customer relationships, and drive growth in a competitive marketplace.
Today’s customers are faced with an overwhelming number of options. This is why brands must be able to quickly and effectively communicate to their target audience why they should choose their product or service. This is known as your “Unique Selling Proposition” (USP).
Your USP demonstrates to customers what you have to offer that your competitors cannot. It is a crucial part of effective selling, otherwise all your marketing efforts will go unnoticed and blend in. In online marketing, communicating your USP clearly and quickly is one of the keys to getting potential customers to convert on your website.
Read: 21 Ways to Generate Word-of-Mouth Marketing for Your Business
Businesses compete with each other for customers in a variety of ways, whether by price, quality or the customer service they offer.
Here are some common strategies that businesses can employ to compete in the marketplace.
There are many ways a company can communicate their USP to their customers and prospects, including the following company’s communication channels and customer touchpoints.
Remember, consistency is key in communicating your USP across all channels so current and potential customers immediately know what your business does, what your brand stands for and what makes you different from your competitor.
Produced by SME South Africa and Version.Eight, this guide digital marketing provides guidance for small business owners looking to market their businesses online.
The eBook covers everything from what social media platforms you should be using for your business to the ins and outs of lead generation and nurturing.
It also includes:
Download here.
The most important task for any business is finding prospects and converting them into paying customers. This process is called lead generation and lies at the heart of a business’ marketing and sales processes.
A lead refers to a potential customer who has expressed interest in the products or service offered by your business. Businesses obtain leads through various marketing strategies and materials which are then introduced into the sales cycle. Prospects are then led through a series of stages, from initial awareness to the final purchase. This involves nurturing them with targeted communication and content, and finally converting them into paying customers.
In the article, ‘What is a Business Lead?’ three different types of leads are identified.
According to HubSpot’s beginner’s guide to inbound lead generation, the lead generation process begins when prospects engage with various marketing efforts, such as interacting with website forms, engaging on social media, downloading content, attending events, receiving referrals, or through other lead generation strategies.
The prospect is then encouraged to take action by following a call-to-action button which directs them to a landing page, specifically designed to capture relevant information about the potential customer. This information typically includes their name and contact information, in exchange for an offer which is typically valuable content such as an ebook or webinar.
There are a number of lead generation channels that businesses can choose from. Here are some of the most common ones.
Once the lead has been captured they will need to be followed up with. This process is known as lead nurturing and involves warming them up to your business and getting them closer to buying your product or service.
Here are best practice for lead nurturing, from the ‘Cost-Effective Digital Strategies for Growing Your Small Business’:
Read: What is a Business Lead?
The sales funnel serves as a framework to guide leads through the various stages of the buyer’s journey, from initial awareness to becoming loyal customers. It’s important that a business has a full sales funnel as the more leads you attract to your business, the more likely they will convert into sales.
Lead generation happens at the top of the sales funnel during the awareness stage. Below is an outline of each of the stages.
Awareness stage – this is the first stage of the funnel and the focus is on creating brand awareness and providing valuable information to educate and engage the leads. This usually involves the first time a prospect visits your website and is the widest part of the funnel.
Interest and evaluation stage – As leads move through the sales funnel, they progress to the interest and evaluation stage. Here, they start to develop an interest in your business and learn about your offer. To increase their interest your business can provide relevant content that addresses their pain points. Other steps they can take is to follow you on social media or subscribe to your email list, and demonstrating how your offering can meet their needs. Some ways you can promote your product in the interest stage include email campaigns, blog posts, social media accounts, free trials and retargeting campaigns .
Decision and conversion stage – The goal of this stage is to build trust and rapport with prospects to stand out as the best solution to their problem. Leads at this stage have researched multiple options and are almost ready to make a decision and close to converting into customers. Strategies for the decision phase are testimonials, case studies, customer reviews and recommendations, demo or tutorial videos and product comparisons .
Post-Sale and retention stage – The post-sale stage is crucial for fostering customer satisfaction, encouraging repeat purchases, and building customer loyalty. It involves delivering exceptional customer service, maintaining open communication, and providing opportunities for upselling, cross-selling, or referrals. Strategies for this stage include promoting customer loyalty or rewards programs, offering coupons or discounts for referring new customers, providing highly responsive customer support, conducting re-engagement email campaigns and following up with feedback polls ().
With a proper understanding of lead generation and the sales funnel, businesses can expect better ROI for their marketing and sales efforts. Getting these tactics right can help a business reach their revenue goals.