Reach out to your market in a variety of ways to enhance consumer awareness and build market share.
The challenge for all businesses is to stand out from the crowd, and it's not always easy in a highly competitive environment. Advertising can only take you part of the way – and it's expensive. Happily there are other low cost opportunities to get your name out there.
Let's look at five strategies to get your name out there.
1. Harness the power of the web
It goes without saying that all businesses need a web presence in today's digitally driven world. But are you making the most of what the web offers?
Having a website alone is not enough. Everything on your site should be geared towards search engine optimisation (SEO) to drive online traffic towards your site. Put simply, there are over 1 billion websites – and yours needs to be picked up on search engines like Google.
There is no silver bullet to SEO – it's a matter of providing information that is unique to your business, and providing answers to the questions your target market is likely to type into a search engine.
Whether it's the content of your home page, writing regular, informative blog copy, or having links to the sites of network alliances, aim to create original content that speaks to your audience. Don't be afraid to use social media through sites like Facebook and LinkedIn. They are outstanding disseminators of information. Remember to keep anything you say on social media professional and impartial.
2. Focus on local
Aside from the internet, there are other, more traditional avenues to promote your business.
Participate in local business events, become part of your neighbourhood's chamber of commerce, and network with local businesses in related industries to encourage referrals. Many Mortgage Choice brokers for instance, have successful and productive network alliances with solicitors and real estate agents.
Budget permitting, try an occasional letterbox drop, and if possible follow it up with direct phone calls.
3. Celebrate good news stories
Local media outlets are often hungry for low cost news features, and if you can provide quality articles - not just thinly disguised sales pitches – it's a great way to establish your name in your local area.
Celebrate success stories that have relevance to the whole neighbourhood by issuing press releases to send to trade publications, local and even metro media.
4. Deliver quality service and encourage referrals
Word of mouth referrals from a satisfied customer are the most powerful, and cost-effective, way to promote your business name.
Not every customer will be easy or pleasant to work with but if you can stick to a commitment of giving every customer the best possible service, and stay in touch from time to time, you're heading in the right direction of building referrals and repeat business.
Consider offering rewards to customers who make a referral to your business. It doesn't have to be an expensive reward, many of your customers will be happy with something as budget-friendly as a couple of free movie tickets
5. Give your small business big business strength
One of the benefits of investing in a franchise is the ability to tap into your franchisor's marketing team for help getting your name out there. The hard yards of building brand awareness have already been done, but your franchisor can offer a wealth of support with both business-wide and tailored marketing plans.
Find out more about how a Mortgage Choice franchise can be your key to success in small business. Call us today on 1300 650 330.