Archive for April, 2014

Market Globally, Target Locally

April 28, 2014

While the average sales footprint for a small business expanded more than 33% in the past four years, smaller enterprises are still earning 85% of their sales on average from purchasers domiciled less than 25 miles from their physical location.

Therefore smaller enterprise marketers need to think globally but also focus locally.

To accomplish this two-sided goal, marketers need to blend Internet marketing tools with more traditional media channels.

Using Internet marketing channels have their appeal because of lower costs and ability to concentrate the marketing effort into very narrow niches and/or over a wider footprint.

However, studies are popping up indicating email marketing is plateauing as a marketing tool because of the vast volume of unsolicited emails cluttering mailboxes.

This trend means smaller enterprises need to be more selective and creative when it comes to marketing on the internet.

Happily, technology advances as well as new service offerings are helping even the smallest company accomplish these goals.

For instance, there is a growing ability for list providers to target potential clients by geographic location down to the neighborhood levels through using “big data” techniques email lists with postal routes.

As potential customers come physically near locations advertising messages can be sent to cellphones when they are near or even in the store.

Recent studies have also shown smaller enterprises are demonstrating a growing sophistication in the utilization of home grown email lists as a key component of their marketing program.

Local merchants of all types are encouraging customers to give their email addresses in return for the possibility of receiving discount coupons or advance word of sales and other money saving tips.

The trend to use social media as a marketing tool is permeating the small business sector.

Our studies at Information Strategies, Inc. suggest billions of dollars are being invested in the next two years by small businesses in social media channels alone.

No one disputes the need to encourage customers to “like” or “follow” their company, create location-based outreach programs, and a myriad of other electronic approaches.

Devoting part of their budget to social media makes sense for smaller enterprises. However, there are some other trends to consider while building a profit-making marketing effort.

They include using local radio advertising, a return to newspaper advertising, community outreach efforts and even creating books and consumer guides.

Smart small business leaders are developing a blend of tactics enabling them to expand their sales footprint while keeping a strong presence locally.

These efforts take time and thought but can translate into added profit dollars.