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  • Writer's pictureSarah Ferraina

Why Your Small Business Needs a Marketing Strategy

If you're a small business owner, you might be wondering whether you really need a marketing strategy. After all, can't you just wing it and hope for the best? The short answer is no—if you want your small business to succeed, you need a marketing strategy. Here's why.

 

No Marketing = No Customers = No Business

 

It's really that simple. In order to get customers, you need to let them know that your business exists and that you have something they want or need. That's where marketing comes in.


Marketing is the process of creating awareness and interest in your product or service so that potential customers will be motivated to buy from you.


Your marketing strategy should be based on your business goals and objectives. It should be flexible and adaptable, as your business will inevitably change and grow over time. 

 

Your marketing strategy should also be holistic, taking into account all aspects of your business, from your product or service offering to your target market. 

 

A well-executed marketing strategy will help you reach your target market, build trust and credibility, generate leads, and ultimately boost sales. Without a marketing strategy, your small business is likely to flounder. 

 

97% of small businesses fail in Australia within the first 5 years — and one of the main reasons is because they have no marketing strategy to take their products or services to market.



How to Develop a Marketing Strategy for Your Small Business

A well-developed marketing strategy will help you to achieve your business goals and objectives. It will give you a roadmap to follow and help to keep you on track. Additionally, a marketing strategy will help you to allocate your resources effectively and make the most of your budget. 

 

Your marketing strategy should be based on extensive research. You need to understand your target market inside out, including their needs, wants, and pain points. Only then can you develop an effective marketing mix that will resonate with them. Keep in mind that your target market may change over time, so it is important to regularly review and update your research. 


The good news is that developing a marketing strategy for your small business doesn't have to be complicated or expensive. Start by answering the following questions: 

 

  1. Who is your target market? 

  2. What needs or problems do they have that your product or service can address? 

  3. What are your unique selling points — that is, what makes your business different from your competitors? 

  4. What kind of budget do you have for marketing? 

 

Once you've answered these questions, you'll have a much better idea of what kind of marketing tactics will work best for your small business. You can then develop a detailed plan and start putting your marketing strategy into action!


A well-executed marketing strategy is essential for any small business that wants to succeed. By taking the time to develop a clear and concise marketing strategy, you'll be able to reach your target market, build trust and credibility, generate leads, and ultimately boost sales. Don't let your small business become another statistic—develop a solid marketing strategy today.


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